Plastic Adhesives Market Analysis | 2024-2030

Market Insights

The plastic adhesives market was estimated at USD 7.1 billion in 2023 and is likely to grow at a CAGR of 5.5% during 2024-2030 to reach USD 9.8 billion in 2030.

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Market Dynamics

Introduction

The plastic adhesive represents one of the most dynamic sectors within the adhesives industry, and its growth is rapid during the period under study, due to the quest by all industries for productive and strong bonding solutions. Plastic adhesives are specially formulated adhesives that provide strong and flexible bonds between plastic materials; hence, they become crucial in industries like automotive, construction, packaging, electronics, and healthcare. Some major drivers for this market include lightweight materials, improved adhesive technology, and broadening of the arena of end-use applications. Further development of more sustainable and high-performance adhesive solutions follows, making the plastic adhesives market grow and innovate further.

Market Drivers

• Demand for plastic adhesives from the medical industry has grown exponentially in the last few years.
• The governments, the private sector, and the individual have been greatly affected in the wake of COVID-19 worldwide.
• The healthcare and medical devices sector has played a very vital role in the recovery of patients.
• What began to find the widest application in the face of an increased caseload for COVID-19 treatment were ventilators, pulse oximeters, oxygen concentrators/generators, and syringe pumps.
• This has, in turn, increased the demand for plastic adhesives with the growing consumption of medical devices.

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Challenges

• Regulatory Authorities: Regulatory authorities for the chemical industry comprise COSHH, EU REACH, GHS, and EPA in Europe and North America 
• Additional Burdens: Compliance includes efforts like labeling, paperwork, and testing costs, including the costs of testing in independent laboratories, to show that the standards have been met.
• Changing Standards over Time: To be able to launch their products successfully into the market, manufacturers of plastic pressure-sensitive adhesives need to keep themselves by the rapidly evolving regulations and standards.

Segments Analysis

By Resin Type

“Epoxy is expected to remain the dominant resin type in the market during the forecast period.”

• Epoxy resins are widely used due to their excellent adhesion, chemical resistance, and versatility in bonding various substrates owing to their strong, durable bond suitable for a wide range of applications from electronics to construction.
• PU resins are experiencing rapid growth due to their flexibility, durability, and moisture resistance owing to increasing demand in automotive, construction, and flexible packaging industries where resilience and performance under diverse conditions are critical.

By Substrate Type

“PE substrate is expected to witness the fastest-growing substrate type in the market during the forecast period.”

• PE is the largest segment in plastic adhesives, used in a wide array of industries for their applications.
• Owing to its lightweight, tough, and optimum crystalline structure for many diversified applications.
• Extensively used in such fields as packaging, automotive components, electrical insulation, and various plastic parts and films.
• Ethylene monomers undergo additional or free-radical polymerization, with the use of various catalysts, like Ziegler-Natta and Metallocene, to direct the structure and properties of the respective polymers.

By Application Type

“Packaging is expected to remain the largest application for the Plastic Adhesives market during the forecast period.”

• Packaging is the dominant application type in the plastic adhesives market.
• High demand for plastic adhesives in flexible packaging, labeling, and sealing due to their strong bonding, versatility, and suitability for various materials and conditions.
• Increasing consumer demand for packaged goods, advancements in packaging technologies, and the rise of e-commerce driving the need for efficient and durable packaging solutions.

Regional Insights

“Asia-Pacific is expected to remain the largest market for Plastic Adhesives during the forecast period.”

• Asia-Pacific is the fastest-growing and the biggest market for plastic adhesives. Due to economic contraction and saturation in the European and North American markets, demand is consequently shifting to the APAC region.
• Regional growth can mainly be credited to high economic growth and attractive investments in packaging, automotive, building & construction, medical, and electronics industries.
• APAC is rapidly becoming the main global trade and commerce center. Several companies, including Henkel AG (Germany) and other key players, are either setting up new plants or expanding their plastic adhesives production units in the region because of low production costs and to cater to the local emerging market.
• In other words, growth in the plastic adhesives market will be influenced by the fact that countries like India and China are highly investing in many end-use industries.

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Key Players

The market has a presence of over 30 players across the region. Most of the major players compete in some of the governing factors including price, service offerings, regional presence, etc. The following are the key players in the Plastic Adhesives market

Here is the list of the Top Players (Based on Dominance)

• Henkel AG (Germany)
• H.B. Fuller (US)
• Arkema (Bostik SA) (France)
• 3M Company (US)
• Sika AG (Switzerland)

Note: The above list does not necessarily include all the top players of the market.

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Research Methodology

This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s plastic adhesives market realities and future market possibilities for the forecast period of 2024 to 2030. After a continuous interest in our plastic adhesives market report from the industry stakeholders, we have tried to further accentuate our research scope to the plastic adhesives market to provide the most crystal-clear picture of the market. The report segments and analyses the market in the most detailed manner to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

Market Segmentation

This report studies the market, covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The plastic adhesives market is segmented into the following categories.

By Resin Type

• Epoxy
• PU
• Acrylic
• Silicone
• MMA
• Cyanoacrylate
• Others

By Substrate Type

• PE
• PP
• PVC

By Application Type

• Packaging
• Building & Construction
• Automotive & Transportation
• Assembly
• Medical

By Region

• North America (Country Analysis: The USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, The UK, and Rest of Europe)
• Asia-Pacific (Country Analysis: Japan, China, India, and Rest of Asia-Pacific)
• Rest of the World (Country Analysis: Brazil, Saudi Arabia, and Others)

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Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Service portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com