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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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.
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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