Plastic Adhesives Market to Grow with a CAGR of 5.51% through 2028
Increasing
demand for recyclable plastic and growing demand from the automotive industry
are factors driving the Global Plastic Adhesives Market in the forecast period
2024-2028
According to
TechSci Research report, “Plastic Adhesives Market – Global Industry Size,
Share, Trends, Competition Forecast & Opportunities, 2028”, the Global Plastic Adhesives Market has
valued at USD 7.92 billion in 2022 and is anticipated to project robust growth
in the forecast period with a CAGR of 5.51% through 2028.
Technological
advancements have played a crucial role in driving the growth of the global
plastic adhesives market. Plastic adhesives are widely used in various
industries, including automotive, electronics, packaging, and construction, and
continuous innovation in adhesive technology has expanded their applications
and improved their performance.
One
of the notable technological advancements in the plastic adhesives market is
the development of advanced adhesive formulations tailored to specific plastic
substrates. Plastics are diverse materials, and each type may require a
different adhesive to ensure optimal bonding. Manufacturers have responded by
creating adhesives optimized for bonding various types of plastics, including
polyethylene, polypropylene, PVC, and polycarbonate. These specialized
formulations enhance bond strength and durability, addressing the unique
challenges of plastic-to-plastic and plastic-to-metal bonding.
Furthermore,
advancements in curing technology have led to the introduction of fast-curing
plastic adhesives. These adhesives offer reduced assembly time, improved
production efficiency, and enhanced throughput, making them ideal for
high-volume manufacturing processes. The ability to rapidly cure at lower
temperatures also minimizes the risk of thermal damage to sensitive components,
which is crucial in electronics assembly.
Innovations
in adhesion promoters and primers have improved the adhesion of plastic
adhesives to challenging substrates. These agents enhance the surface energy of
plastics, ensuring a strong and durable bond. As a result, plastic adhesives
can now bond to low-surface-energy plastics and other difficult-to-adhere
materials more effectively.
Additionally,
the development of environmentally friendly and sustainable plastic adhesives
has gained prominence. Manufacturers are creating formulations with reduced
volatile organic compounds (VOCs) and hazardous components, aligning with
environmental regulations and sustainability goals. These eco-friendly
adhesives cater to the growing demand for green and sustainable solutions in
various industries.
Advancements
in application techniques, such as robotic dispensing systems and precise
dosing equipment, have also contributed to the growth of the plastic adhesives
market. These technologies ensure accurate and consistent adhesive application,
reducing waste and improving product quality.
In
conclusion, technological advancements in plastic adhesives have fueled the
growth of the global market by providing specialized formulations, fast-curing
options, improved adhesion promoters, and eco-friendly solutions. As industries
continue to seek efficient and sustainable bonding solutions for plastic
materials, the role of technological innovation in the plastic adhesives market
will remain pivotal, supporting the expansion of their applications across
diverse sectors.
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"Plastic Adhesives Market”
The Global Plastic
Adhesives Market is segmented into products, substrate, end user, regional
distribution, and company.
Based on the
Product, the epoxy segment emerged as
the dominant player in the global market for plastic adhesives. Epoxy adhesives
come in various formulations, allowing manufacturers to select the specific
type that suits their application requirements. Whether it's structural
bonding, potting, encapsulation, or bonding dissimilar materials, epoxy
adhesives can be tailored to meet these needs.
Epoxy adhesives
offer exceptional bonding strength, durability, and resistance to heat and
chemicals. These properties make them suitable for demanding applications where
a secure and long-lasting bond is essential. They are also renowned for their
versatility and can effectively bond a wide range of plastics, including
thermosetting and thermoplastic materials, which makes them a preferred choice
for various applications.
The Asia-Pacific
region is poised to experience robust growth during the forecast period,
primarily driven by the thriving construction sector and the increasing
production of electrical and electronic goods. Within Asia-Pacific, China is
expected to lead the demand surge for plastic adhesives, fueled by the rapid
expansion of automotive manufacturing and government support for the electrical
and electronics industry to boost production.
China stands as
the world's largest electronics manufacturing hub and poses strong competition
to established upstream producers like South Korea and Taiwan. Notably, within
the consumer electronics segment, electronic products such as household
appliances (e.g., washing machines, refrigerators) are witnessing the highest
demand growth. This growth is propelled by the rising disposable income of the
middle-class population, which is anticipated to drive sustained demand for
electronic appliances in the foreseeable future.
Additionally,
the construction industry in India is flourishing, contributing approximately
9% to the GDP annually. With impressive growth recorded in 2019 and projections
indicating that India's construction industry is on track to become the world's
third-largest market, nearing a USD 1 trillion valuation by the end of the
forecast period. Collectively, these factors are stimulating the demand for
plastic adhesives in the Asia-Pacific region.
Major companies
operating in Global Plastic Adhesives Market are:
- 3M Company
- Dymax Corporation
- H.B. Fuller Company
- Henkel Corporation
- Huntsman International LLC
- Master Bond Inc.
- Panacol-Elosol GmbH
- Permabond LLC
- Pidilite Industries Ltd.
- SIKA AG
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“The global
plastic adhesives market is experiencing significant growth driven by
technological advancements and the increasing demand for efficient and
versatile bonding solutions across various industries. Plastic adhesives play a
critical role in joining different plastic substrates, as well as bonding
plastics to metals and other materials.
Technological
advancements have led to the development of specialized adhesive formulations
tailored to specific types of plastics, enhancing bond strength and durability.
Fast-curing plastic adhesives have improved production efficiency, particularly
in high-volume manufacturing processes, while also minimizing thermal damage to
sensitive components.
Moreover,
innovations in adhesion promoters and primers have expanded the range of
plastics that can be effectively bonded, addressing challenging applications.
Additionally, the market has witnessed the emergence of environmentally
friendly and sustainable adhesives with reduced volatile organic compounds
(VOCs), aligning with environmental regulations and sustainability goals.
With the
continued demand for efficient and eco-friendly bonding solutions in industries
such as automotive, electronics, packaging, and construction, the global
plastic adhesives market is poised for continued growth. Technological
advancements will remain a driving force, supporting the expansion of plastic
adhesives' applications and their role in modern manufacturing processes,” said
Mr. Karan Chechi, Research Director with TechSci Research, a research-based
management consulting firm.
“Plastic
Adhesives Market- Global Industry Size, Share, Trends, Opportunity, and
Forecast, 2018-2028 Segmented by Product (Epoxy, Cyanoacrylate, Urethane,
Silicones, and Other), By Substrate (PE, PP, PVC), By End User (Automotive,
Building and Construction, Electrical and Electronics, Medical, Packaging, and
Other), By Region and competition”,
has evaluated the future growth potential of Global Plastic Adhesives Market
and provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Plastic Adhesives Market.
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