Overview and Scope
Plastic adhesives refers to special type of adhesives used for binding plastic materials together such as polycarbonate, acrylic, styrene, and other plastics. It is used for fixing home appliances such as a computer, phones, audio appliances and for fixing car parts, electrical tubes, and others. Only goods and services traded between entities or sold to end consumers are included.
Sizing and Forecast
The plastic adhesives market size has grown strongly in recent years. It will grow from <b>$7.96 billion in 2023 to $8.68 billion in 2024 at a compound annual growth rate (CAGR) of 9.0%. </b> The growth in the historic period can be attributed to growth in the automotive and aerospace industries, demand for lightweight and high-performance bonding, expansion of the construction and packaging sectors, development of advanced adhesive formulations, increase in electronic and medical device assembly..
The plastic adhesives market size is expected to see strong growth in the next few years. It will grow to <b>$12.28 billion in 2028 at a compound annual growth rate (CAGR) of 9.1%. </b> The growth in the forecast period can be attributed to sustainable and low-voc adhesive solutions, growth in electric vehicle production, customized adhesive formulations for specific plastics, demand for high-temperature and impact-resistant adhesives, expansion in renewable energy applications.. Major trends in the forecast period include bio-based and biodegradable plastic adhesives, regulatory compliance in adhesive safety, smart adhesives with self-healing properties, nanotechnology-enhanced plastic adhesives, adhesive solutions for circular economy practices.
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Segmentation & Regional Insights
The plastic adhesives market covered in this report is segmented –
1) By Resin Type: Epoxy, Polyurethane, Acrylic, Silicone, MMA, Cyanoacrylate, Other Resin Types
2) By Technology: Solvent-based, Water-based
3) By End-user: Automotive, Building and Construction, Electrical and Electronics, Medical, Packaging, Other End-Users
<b>Asia-Pacific</b> was the largest region in the plastic adhesives market in 2023. <b>Asia-Pacific</b> is expected to be the fastest-growing region in the market. The regions covered in the plastic adhesives market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
Increasing demand for plastic adhesives from the construction sector coupled with the growth of the construction industry is anticipated to boost the demand for plastic adhesives market over the forecast period. In the construction sector, adhesives are used in adhesion of ceramic tiles, carpet laying, manufactured housing and prefabricated housing, fixing of vinyl or resilient flooring, pre-finished panels, fixing roof titles or systems, fixing floor or drywall lamination, and other applications. Economic growth and a rapidly growing urban population is expected to increase the demand for new residential and commercial buildings during the forecast period, thus increase the demand for adhesives. Large opportunities are expected to arise in Asian countries such as Indonesia, Vietnam and the Philippines which are becoming increasingly popular for export-oriented manufacturing. According to the World Bank, urban population in South Asia is expected to grow by 250 million by 2030. According to a report by PwC, around 60% of the world population is expected to live in cities by 2030. This rapid urbanization is expected to boost the demand for infrastructure and drive the adhesives market going forward.
Key Industry Players
Major companies operating in the plastic adhesives market include <b> H.B. Fuller Company, Henkel Corporation, 3M Company, Permabond LLC, Sika AG, Dowdupont Inc., Parker Hannifin Corp., Master Bond Inc., Huntsman International LLC, Arkema SA, Adhesive Research Inc., BASF SE, Boston Blacking Company, Buhnen GmbH & Co. KG, Hexion Specialty Chemicals Inc., Lord Corporation, Mapei SPA, Pidilite Industry Ltd., Ashland Inc., Avery International Corporation, Chemence Ltd., Collano Adhesives Inc., Delo Industrie Klebstoffe GmbH & Co. KGaA, Dow Chemical Ltd., Dymax Corporation, Eastman Chemical Company, EMS-Chemie Holding AG, Evonik Industries AG, Illinois Tool Works Inc., ITW Performance Polymers </b>
The plastic adhesives market report table of contents includes:
1. Executive Summary
2. Plastic Adhesives Market Characteristics
3. Plastic Adhesives Market Trends And Strategies
4. Plastic Adhesives Market – Macro Economic Scenario
5. Global Plastic Adhesives Market Size and Growth
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26. South America Plastic Adhesives Market
27. Brazil Plastic Adhesives Market
28. Middle East Plastic Adhesives Market
29. Africa Plastic Adhesives Market
30. Plastic Adhesives Market Competitive Landscape And Company Profiles
Top Major Players:
- H.B. Fuller Company
- Henkel Corporation
- 3M Company
- Permabond LLC
- Sika AG
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