Henkel (Germany) and Cytec (Belgium) are the Major players in the Film Adhesives Market
The film adhesives market is projected to grow from USD 1.24 billion in 2018 to USD 1.62 billion by 2023, at a CAGR of 5.5% between 2018 and 2023. APAC is the largest consumer of film adhesives. The preference for film adhesives over conventional adhesives in high-end aerospace applications is projected to drive the growth of the film adhesives market.
Major players operating in the film adhesives market include H.B. Fuller (US), Henkel (Germany), Arkema (Bostik) (France), 3M (US), and Cytec (Belgium). These players have adopted various strategies, such as mergers & acquisitions and new product launches, to strengthen their foothold in the film adhesives market. The strategy of mergers & acquisitions was the key growth strategy adopted by major players between 2013 and 2018 to enhance their product portfolio and penetrate new markets. This strategy accounted for a share of 58% of all growth strategies adopted by key market players.
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Henkel manufactures various chemical products, including detergents, beauty products, and adhesives. It operates through four segments, namely, adhesive technologies (adhesives, sealants, and surface treatments for consumer and industrial purposes), laundry & home care (household cleaning products such as laundry detergents and dishwashing liquids), beauty care (beauty & oral care products such as shampoos, toothpastes, hair colorants, and shower products), and corporate. Adhesives developed by the company are used in various applications, such as electronics, aerospace, assembly, packaging, converting, nonwoven & hygiene, performance wood, and flooring. Henkel is actively involved in acquiring emerging companies in the film adhesives market. For instance, in October 2015, Henkel acquired all the shares of The Bergquist Company (US). This acquisition strengthened the position of Henkel as a leading solution provider for adhesives, sealants, and functional coatings, globally.
The Cytec Solvay Group is one of the leading players in the plastic and chemical business worldwide. The company is primarily engaged in developing, manufacturing, and selling products for the agriculture, feed & food, automotive & aerospace, building & construction, customer goods & healthcare, electrical & electronics, energy & environment, and industrial applications. The company is focused on the adoption of inorganic strategies to enhance its market presence. For instance, in December 2015, Cytec Industries was acquired by Solvay SA. This acquisition boosted Solvay’s customer offerings in lightweighting with advanced materials for aerospace and automotive applications.
Related Reports:
Film Adhesives Market by Resin Type (Epoxy, Acrylic, Cyanate Ester), End-Use Industry (Electrical & Electronics, Aerospace, Automotive & Transportation, Consumer), and Region (APAC, North America, Europe, South America, and MEA) - Global Forecast to 2023
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