Plastic Adhesives Market worth $9.2 Billion by 2025 - Exclusive Report by MarketsandMarkets™
CHICAGO, Nov. 12, 2020 /PRNewswire/ -- According to the new market research 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", published by MarketsandMarkets™, the Plastic Adhesives Market 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.
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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.
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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.
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Browse Adjacent Markets: Coatings Adhesives Sealants and Elastomers Market Research Reports & Consulting
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