Global Plastic Adhesives market trends 2024, Forecast To 2033
8 Feb, 2024
The plastic adhesives market has demonstrated strong growth, escalating from $7.96 billion in 2023 to $8.68 billion in 2024, reflecting a compound annual growth rate (CAGR) of 9.0% in the historical period. This growth is attributed to the expansion of the automotive and aerospace industries, the demand for lightweight and high-performance bonding, the increased activity in the construction and packaging sectors, the development of advanced adhesive formulations, and the rise in electronic and medical device assembly. Looking forward to 2028, the market is expected to see strong growth, reaching $12.28 billion with a CAGR of 9.1%. The anticipated drivers of this growth include sustainable and low-VOC adhesive solutions, the growth in electric vehicle production, the customization of adhesive formulations for specific plastics, the demand for high-temperature and impact-resistant adhesives, and the expansion in renewable energy applications. Key trends in the forecast period encompass the development of bio-based and biodegradable plastic adhesives, regulatory compliance in adhesive safety, smart adhesives with self-healing properties, nanotechnology-enhanced plastic adhesives, and adhesive solutions for circular economy practices.
Global Plastic Adhesives Market Key Driver
The construction sector's increasing demand for plastic adhesives, coupled with global economic growth and urbanization, is set to boost the plastic adhesives market. According to the World Bank, South Asia's urban population is expected to grow by 250 million by 2030, creating substantial opportunities in construction and adhesive applications. PwC reports that around 60% of the world population is expected to live in cities by 2030, further emphasizing the positive outlook for the adhesives market.
Get A Free Sample Of The Global Plastic Adhesives Market ReportGlobal Plastic Adhesives Market Segments
The global plastic adhesives market covered in this report is segmented –
1) By Resin Type: Epoxy, Polyurethane, Acrylic, Silicone, MMA, Cyanoacrylate, Other Resin Types
2) By Technology: Solvent-based, Water-based
3) By End-user: Automotive, Building and Construction, Electrical and Electronics, Medical, Packaging, Other End-Users
By Geography: The regions covered in the Plastic Adhesives market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa.
Asia-Pacificwas the largest region in the plastic adhesives market in 2023. Asia-Pacificis expected to be the fastest-growing region in the market. The regions covered in the plastic adhesives market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Major Plastic Adhesives Industry Players
H.B. Fuller Company, Henkel Corporation, 3M Company, Permabond LLC, Sika AG, Dowdupont Inc., Parker Hannifin Corp., Master Bond Inc., Huntsman International LLC, Arkema SA, Adhesive Research Inc., BASF SE, Boston Blacking Company, Buhnen GmbH & Co. KG, Hexion Specialty Chemicals Inc., Lord Corporation, Mapei SPA, Pidilite Industry Ltd., Ashland Inc., Avery International Corporation, Chemence Ltd., Collano Adhesives Inc., Delo Industrie Klebstoffe GmbH & Co. KGaA, Dow Chemical Ltd., Dymax Corporation, Eastman Chemical Company, EMS-Chemie Holding AG, Evonik Industries AG, Illinois Tool Works Inc., ITW Performance Polymers
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Plastic Adhesives Market Overview
Plastic adhesives refers to special type of adhesives used for binding plastic materials together such as polycarbonate, acrylic, styrene, and other plastics. It is used for fixing home appliances such as a computer, phones, audio appliances and for fixing car parts, electrical tubes, and others. Only goods and services traded between entities or sold to end consumers are included.
Plastic Adhesives Global Market Report 2023 provides data on the global plastic adhesives market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The plastic adhesives market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.