The market size for Plastic Adhesives is projected to grow from USD 6.8 billion in 2020 to USD 9.2 billion by 2025, at a CAGR of 6.3%. 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.
Browse 145 market data Tables and 55 Figures spread through 231 Pages and in-depth TOC on "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"
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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.
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.
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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.
In February 2020, Henkel Adhesives Technology invested around USD 55 million in its new manufacturing facility in Kurkumbh near Pune. The 400-crore facility will primarily cater to the growing demand of Indian industries for high-performance solutions in adhesives, sealants, and surface treatment plants and will also export to other countries.
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. In October 2017, HB Fuller finalized its acquisition of Royal Adhesives & Sealants from affiliates of American Securities for USD 1.575 billion. The acquisition enables HB Fuller to enhance its expertise in a specialty and high-value applications. In addition, the merger allows the company to expand its product offering in engineering, durable assembly, and construction adhesives.
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