The market size for Plastic Adhesives is projected to grow from USD 6.8 billion in 2020 to USD 9.2 billion by 2025, at a CAGR of 6.3%. 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.
Browse 145
market data Tables and 55 Figures spread through 231 Pages and
in-depth TOC on "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"
Packaging segment accounted for the largest share of the
plastic adhesives market in 2020.
The use of plastic
adhesives in flexible packaging offer advantages in terms of reduction in
energy and material use and packaging costs. A range of plastic such as PP and
PET are used in food & beverage packaging. These plastics provide sustainable
and innovative solutions, along with longer shelf life and barrier to aroma,
vapor, and moisture. PP is used for microwavable packaging, while PET is used
in meat and cheese packaging. The demand for plastic adhesives is high due to
the rising demand for packaged food products. The demand for longer shelf life
of food products such as meat, milk, and cheese is driving the consumption of
plastic adhesives in the food & beverage application. There is rising
awareness among consumers about the nutritional value of food, which has led to
the increased use of plastic adhesives in the packaging of food & beverage.
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Henkel AG (US) operates globally with
a well-balanced and diversified portfolio. It manufactures and distributes
homecare, laundry, cosmetics, and adhesive products, globally. The company
operates through four main business segments, namely, adhesive technologies,
laundry & home care, beauty care, and corporate. Plastic adhesives are
produced under the adhesive technologies segment. Henkel offers a multitude of
applications to cater to the needs of different target groups: consumers,
craftsmen, and industrial businesses. Henkel Adhesive Technologies is the
global leader in adhesives, sealants, and functional coatings worldwide.
In February 2020, Henkel Adhesives
Technology invested around USD 55 million in its new manufacturing facility in
Kurkumbh near Pune. The 400-crore facility will primarily cater to the growing
demand of Indian industries for high-performance solutions in adhesives,
sealants, and surface treatment plants and will also export to other countries.
H.B. Fuller is a global adhesives
manufacturer, formulator, and marketer. The company has five operating
segments, namely, Americas adhesives, engineering adhesives, construction
adhesives, and EIMEA (Europe, India, the Middle East, and Africa), and
Asia-Pacific. It is active in the field of adhesives for various applications
such as assembly of electronics devices, vehicle assembly, packaging, and
flexible packaging. In October 2017, HB Fuller finalized its acquisition of
Royal Adhesives & Sealants from affiliates of American Securities for USD
1.575 billion. The acquisition enables HB Fuller to enhance its expertise in a
specialty and high-value applications. In addition, the merger allows the
company to expand its product offering in engineering, durable assembly, and
construction adhesives.
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