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(Transportation-News.com, December 04, 2023 ) The report "Plastic Adhesives Market by Resin Type (Epoxy, PU, Acrylic, Silicone, MMA, Cyanoacrylate), By Substrate (PE, PP, PVC), By Application (Packaging, Building & Construction, Automotive & Transportation, Assembly, Medical), and Region - Global Forecast to 2025", size will grow to USD 9.2 billion by 2025 from USD 6.8 billion in 2020, at a CAGR of 6.3% during the 2020-2025 period. APAC is the largest consumer of plastic adhesives. Increasing demand in the medical industry, growth in the appliance industry, and growing demand from packaging and e-commerce industries are the factors driving the plastic adhesives market.
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Browse in-depth TOC on "Plastic Adhesives Market”
145 - Market Data Tables
55 - Figures
231 - Pages
Polyurethane resin segment is projected to be the largest segment of the plastic adhesives market.
Polyurethane plastic adhesives offer good adhesion to a variety of substrates, including heavily plasticized PVC, even though a primer is required. The largest application of polyurethane-based plastic adhesives is the structural bonding and sealing of automotive windshields. They are very effective in large area panel bonding of metals and composites. Thermoplastic polyurethanes are widely used in various industrial and household environments. Polyurethanes offer good chemical and temperature resistance. However, long-term exposure to high temperatures degrades polyurethanes more rapidly than epoxies.
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Medical is the fastest-growing application segment of the plastic adhesives market.
Medical is projected to be the fastest-growing application of plastic adhesives. Medical device assembly varies widely and typically involves bonding materials that are otherwise difficult to create adhesion. Few substrates may even require the use of primers or other surface preparation to achieve satisfactory adhesion. In addition to bonding parts successfully, medical device adhesives must be compatible with direct or indirect contact with the body and may be required to withstand multiple sterilizations. Tubing, IV bags, syringes, catheters, films for packaging, surgical instruments, lab-ware, housings, and connectors are a few examples of plastics-based medical devices.
APAC is the largest plastic adhesives market globally.
APAC is projected to lead the plastic adhesives market during the forecast period. The market growth is expected to be supported by improving global economy, rising domestic demand for food products, and increasing exports. China is one of the largest consumers of PE and has an abundant amount of raw materials with low cost of production. Due to the growing population of the country, the usage of plastic in different types of industries has increased, thereby increasing the demand for plastic adhesives. Industries like footwear and food packaging are beginning to use plastic in manufacturing, thereby increasing the use of plastic adhesives.
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Plastic Adhesives Market Key Players
The key players operating in the market are Henkel AG (Germany), H.B. Fuller (US), Arkema (Bostik SA) (France), 3M Company (US), Sika AG (Switzerland). These players have adopted various strategies, such as merger & acquisition, investment & expansion, new product launch, and partnership & agreement
Henkel AG (US) operates globally with a well-balanced and diversified portfolio. It manufactures and distributes homecare, laundry, cosmetics, and adhesive products, globally. The company operates through four main business segments, namely, adhesive technologies, laundry & home care, beauty care, and corporate. Plastic adhesives are produced under the adhesive technologies segment. Henkel offers a multitude of applications to cater to the needs of different target groups: consumers, craftsmen, and industrial businesses. Henkel Adhesive Technologies is the global leader in adhesives, sealants, and functional coatings worldwide.
H.B. Fuller is a global adhesives manufacturer, formulator, and marketer. The company has five operating segments, namely, Americas adhesives, engineering adhesives, construction adhesives, and EIMEA (Europe, India, the Middle East, and Africa), and Asia-Pacific. It is active in the field of adhesives for various applications such as assembly of electronics devices, vehicle assembly, packaging, and flexible packaging.
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