Plastic Adhesives Market Size, Trends & Analysis - Forecasts to 2026 By Type of Resin (Epoxy, Polyurethane, Acrylic, Silicone, MMA, Cyanoacrylate, and Others), By Type of Substrate (PE, PP, PVC, and Others), By Type of Application (Packaging, Building & Construction, Automotive & Transportation, Assembly, Medical, and Others), By Type of Region (NA [North America], Europe, APAC [Asia Pacific], MEA [the Middle East & Africa], and CSA [Central & South America]), End-User Landscape, Vendor Landscape, Company Market Share Analysis & Competitor Analysis
As plastics have properties like extreme flexibility and durability, it is challenging to find good adhesives that work on plastics. Normal glues do not work on the surface of plastics due to their smooth and velvety surface. Therefore, it is critical to use plastic adhesives to produce objects. A few of the best plastic adhesives found in the market are Loctite Vinyl, Fabric & Plastic Flexible Adhesive. The applications can be seen in multiple verticals like food & beverage, chemicals, building & construction, and many more verticals.
According to the report published by Global Market Estimates Research & Consultants, the Plastic Adhesives Market is indicated to register a requisite hastening of 6.3% during the forecast period (2020-2026).
APAC is considered to be the largest contributor towards the share, the major restraint of the market is awareness towards a plastic-free environment that may affect the uniform drive of the market yet, rapid extension of the e-commerce industry, infrastructure investments in the building and construction sector, and demand in food packaging necessities are the foremost market accelerators attending the augmentation.
Polyurethane, epoxy, silicone, acrylic, MMA, and others are the various types of resins witnessed in the global market. The division to account for the largest market proportion is polyurethane. Polyurethane is a synthetic material composed of organic units linked through carbamate links. They are made by the exothermic reaction between alcohols and reactive hydroxyl (-OH). Polyurethane is used in the majority of the automotive industry to make foams, carpets, and elastomeric wheels. Increasing automated car technology has resulted in increased sales in the automotive industry. Therefore, swift motorization is accounted to be the largest contributor towards the increment of the global plastic adhesives market.
Based on the substrate, the market bifurcation can be seen as PE, PP, PVC, and others. The PE in roadways is seen to be growing the fastest in this market. There are two types of polyethylene such as low-density polyethylene and high-density polyethylene. PE can be applied extensively in food packaging. The widespread accessibility for frozen foods and the expansion of the cold chain market is the prime accelerators towards the revenue growth of the market.
Packaging, assembly, automotive & transportation, building & construction, medical, and others are the varied types of applications visible in the market. The packaging domain will lead to high market demand in the given period. The increase in the use of PE and PET for dairy, meat, and seafood processing to maintain shell life, nutrients, and flavor is the driver expected to aid the growth of the global market.
Based on the regional study, the Asia Pacific region is considered to make the market highly competitive during the forecast period. Government support for the electrical and electronics industry, progressing demand for the automotive domain, and growth in the appliance industry are the propellers affecting the growth of the plastic adhesives market.
Henkel Ag, H.B. Fuller, Arkema, Sika AG, 3M Company, Dow Inc., Illinois Tool Works Inc., Parker Hannifin Corp., Master Bond Inc., Permabond LLC, Huntsman International LLC, Ashland Inc., Mapei S.P.A., IPS Corporation, Dymax Corporation, Astral Adhesives, Pidilite Industries Ltd., Hernon Manufacturing Inc., Jowat SE, and other industries are the prominent vendors in the global Plastic Adhesives market.
Please note: This is not an exhaustive list of companies profiled in the report.
In July 2019, Henkel Corporation heralded an expansion of the market in Salisbury.
In July 2018, 3M Company launched multi-material composite urethane adhesives DP6310NS and DP6330NS.
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The Global Plastic Adhesives Market has been studied from the year 2017 till 2026. However, the CAGR provided in the report is from the year 2018 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the Plastic Adhesives Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the companies and customer analytics.
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