Vancouver, Oct. 05, 2023 (GLOBE NEWSWIRE) -- The global plastic adhesives market is projected to be worth USD 13.84 Billion by 2032, according to a current analysis by Emergen Research. The plastic adhesives market is observing high demand attributed to the growth of the building & construction industry. The key benefits offered by plastic adhesives as structural adhesive comprise strength, flexibility, and toughness. Product strength is especially essential when affixing dissimilar materials differing in their flexibility by a significant proportion, for instance, bonding a flexible metal and rigid metallic part. A distinctive benefit of methyl methacrylate resins is that they can fully cure and achieve their maximum strength at ambient temperatures.
Additionally, the growth of the end-user industries in the APAC region and a rise in the level of disposable income of people in the region are causative of the growth of the plastic adhesives market.
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Scope of Research
| Report Details | Outcome |
| Market size value in 2019 | USD 6.54 Billion |
| CAGR (2020 - 2027) | 6.1% |
| Revenue forecast in 2032 | USD 13.84 Billion |
| Base year for estimation | 2019 |
| Historical data | 2016 - 2018 |
| Forecast period | 2020 - 2027 |
| Quantitative units | Revenue in USD Millions, and CAGR from 2020 to 2027 |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments covered | Resin type, substrate, distribution channel, application, region |
| Regional scope | North America; Europe; Asia Pacific; Central & South America; MEA |
| Country scope | U.S.; Canada; Mexico; U.K.; Germany; France; Italy; Spain; China; India; Japan; South Korea; Brazil; Saudi Arabia; South Africa; Turkey |
| Key companies profiled | Arkema SA, 3M Company, Parker Hannifin Corporation, Huntsman International LLC, Sika AG, Henkel AG, Dow Inc., Illinois Tool Works Inc., MaterBond Inc., and Ashland Global Specialty Chemicals Inc. |
| Customization scope | 10 hrs of free customization and expert consultation |
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MAJOR COMPANIES and Market Share Analysis
The leading players in the plastic adhesives market are equipped with enhanced production facilities and are involved in various R&D activities. A few leading players in the plastic adhesives include:
- Arkema SA
- 3M Company
- Parker Hannifin Corporation
- Huntsman International LLC
- Sika AG
- Henkel AG
- Dow Inc.
- Illinois Tool Works Inc.
- MaterBond Inc.
- Ashland Global Specialty Chemicals Inc.
Strategic Development
In April 2019, Parker Hannifin Corporation made an announcement about signing an agreement for the acquisition of Lord Corporation worth USD 3.68 billion. Lord Corporation provides a wide range of adhesives, specialty materials, coatings, vibration & motion control technologies.
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Key Highlights From The Report
- In July 2020, Bostik, a subsidiary of Arkema, as a part of its adhesive division expansion strategy, made an announcement about the acquisition of Fixatti, a firm involved in plastic coating and adhesive powder.
- The surging demand for silicone resin adhesive is owing to its ability to silicone maintain its stability and elasticity in both low and high temperatures. Also, silicone sealants have moisture, chemicals, and weathering resistance, making it less likely in construction applications.
- The superior thermal stability of polyethylene-based adhesives creates stronger bonds with the application of less adhesive. Polyethylene-based products are intended mainly for carton and case sealing purposes, but are also extensively deployed in multi-wall bag products.
- The growth of the market in the North American region is due to the increasing demand for plastic adhesives from the building & construction, automotive & transportation, and medical industries. Further, the presence of leading manufacturing firms in the region are also causative of the growth of the market attributed to the usage of plastic adhesives in the assembly applications.
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Emergen Research has segmented the global plastic adhesives market on the basis of resin type, substrate, distribution channel, application, and region:
- Resin Type Outlook (Revenue, USD Billion; 2017-2027)
- Epoxy
- Polyurethane
- Acrylic
- Silicone
- Cyanoacrylate
- Methyl Methacrylate
- Others
- Substrate Outlook (Revenue, USD Billion; 2017-2027)
- Polyethylene
- Polypropylene
- Polyvinyl Chloride
- Others
- Distribution Channel Outlook (Revenue, USD Billion; 2017-2027)
- Online
- Offline
- Application Outlook (Revenue, USD Billion; 2017-2027)
- Packaging
- Building & Construction
- Automotive & Transportation
- Assembly
- Medical
- Others
- Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- MEA
- Saudi Arabia
- UAE
- Rest of MEA
- North America
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