According to a research report titled ‘Global Adhesive Film Market study, by Film Material (Polypropylene, Polyvinyl Chloride, Polyethylene), Application (Tapes, Graphic Films, Labels), End-Use Industry (Packaging, Transportation, Electrical & Electronics) and Regional Forecasts 2020-2027’, available with Market Study Report, global adhesive film market was valued at USD 18.3 billion in 2019 and is expected to grow with a CAGR of 5.5% over 2020-2027, amassing USD 28.1 billion by the end of forecast period.
 

According to the research report, rising urban population in APAC, rapid penetration of e-commerce, increasing demand for consumer durables, and flourishing pharmaceutical sector are fostering worldwide adhesive film market growth. Furthermore, consumer preference for gaining product knowledge, alongside emphasis on product quality, customer service, and advanced technology will also stimulate industry remuneration.
 

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Notably, adhesive films contain adhesive or glue layer on one or both sides. These are made from chemicals like polyvinyl chloride, polypropylene, or polythene, and are used to combine two or more components. They can be used as warning labels, information labels, insulations wraps, or just as adhesive tapes.
 

Despite the lucrative growth prospects, volatility of raw material prices is anticipated to hamper market growth in the ensuing years.
 

Based on film material, global adhesive film industry is classed into polypropylene (PP), polyvinyl chloride (PVC), polyethylene (PE), and others. By application ambit, the market is classified into graphic films, labels, and tapes. Moving on to end user spectrum, the industry is arrayed into packaging, electrical & electronics, transportation, and others (medical, signage, and construction).
 

On the regional front, North America led the worldwide adhesive film market forecast in the previous years. Whereas Asia Pacific market is anticipated to record the highest CAGR over the forecast period, owing to factors like rising population, and burgeoning e-commerce industry in the APAC region.
 

Key contenders in global adhesive film market are Ester Industries Ltd., The 3M Company, Mondi plc, Avery Dennison Corporation, Coveris Group, UPM-Kymmene Oyj, Toray Industries Inc., CCL Industries Inc., Cosmo Films Ltd., and Constantia Flexibles.
 

The major players of global adhesive film market have adopted various strategies to gain competitive advantage such as mergers and acquisitions, product launches, partnership agreements, investment, funding and others. For instance, Avery Dennison Corporation acquired Yongle Tape Company Ltd., a maker of specialty tapes and related items for a range of industrial markets, in February 2017.