News on U.S. government agencies, U.S. politics, companies doing business with U.S. federal government. Read U.S. national and local news. This site is not affiliated with United States Government.
(USGovernment-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.
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.
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.
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.
About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The Knowledge Store™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
We are pleased to offer you this exciting, new, and entirely free professional resource. Visit our Free Industry resource center today to browse our selection of 600+ complimentary Industry magazines, white papers, webinars, podcasts, and more. Get popular titles including:
