Plastic Adhesives Global Market Report 2024

Plastic adhesives are specialized adhesives designed for bonding various plastic materials, including polycarbonate, acrylic, styrene, and other plastics. They are utilized in fixing home appliances such as computers, phones, and audio devices, as well as for repairing car parts, electrical tubes, and other applications. This category specifically includes goods and services traded between entities or sold directly to end consumers.

The primary types of resin employed in the manufacture of plastic adhesives are epoxy, polyurethane, acrylic, silicone, MMA (methyl methacrylate), and cyanoacrylate. Epoxy, a two-part adhesive, results from the mixing of epoxy resin and hardener. Polyurethane adhesive, a thermoplastic polymer-based glue, is formed through a chemical reaction between polymers, exhibiting exceptional strength and resistance to various forms of degradation. Acrylic adhesive, made from acrylic or methyl acrylic polymers, is known for its strength and environmental resistance, making it commonly used in the construction industry. Methyl methacrylate (MMA) adhesives, a type of acrylic adhesive, cure rapidly at room temperature and achieve full bond strength shortly after application. Cyanoacrylates, or super glues, are robust and quick-acting adhesives with applications in industrial, medical, and household contexts. These diverse adhesive technologies find use in the automotive, building and construction, electrical and electronics, medical, and packaging industries.

The plastic adhesives market research report is one of a series of new reports that provides plastic adhesives market statistics, including plastic adhesives industry global market size, regional shares, competitors with a plastic adhesives market share, detailed plastic adhesives market segments, market trends and opportunities, and any further data you may need to thrive in the plastic adhesives industry. This plastic adhesive market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The plastic adhesives market size has grown strongly in recent years. It will grow from $7.96 billion in 2023 to $8.68 billion in 2024 at a compound annual growth rate (CAGR) of 9.0%. The growth observed in the historical period can be attributed to the expansion of the automotive and aerospace industries, a rising demand for lightweight and high-performance bonding solutions, the growth of the construction and packaging sectors, the development of advanced adhesive formulations, and an increase in the assembly of electronic and medical devices.

The plastic adhesives market size is expected to see strong growth in the next few years. It will grow to $12.28 billion in 2028 at a compound annual growth rate (CAGR) of 9.1%. The anticipated growth in the forecast period can be attributed to the adoption of sustainable and low-VOC (volatile organic compound) adhesive solutions, the increasing production of electric vehicles, the development of customized adhesive formulations tailored for specific plastics, a growing demand for high-temperature and impact-resistant adhesives, and the expansion of applications in the renewable energy sector. Notable trends expected in the forecast period encompass the rise of bio-based and biodegradable plastic adhesives, a focus on regulatory compliance for adhesive safety, the emergence of smart adhesives with self-healing properties, the integration of nanotechnology in enhancing plastic adhesives, and the development of adhesive solutions in alignment with circular economy practices.

The plastic adhesives market is poised for growth due to the increasing demand from the construction sector, coupled with the expansion of the construction industry. Adhesives play a crucial role in various construction applications, such as adhering ceramic tiles, laying carpets, manufacturing housing, fixing vinyl or resilient flooring, and more. Economic growth, coupled with a rapidly growing urban population, is expected to drive the construction of new residential and commercial buildings, leading to an increased demand for adhesives. Asian countries like Indonesia, Vietnam, and the Philippines are expected to present significant opportunities, with the urban population in South Asia projected to grow by 250 million by 2030, according to the World Bank. PwC reports that around 60% of the world population is expected to live in cities by 2030, fostering rapid urbanization and boosting the demand for adhesives in infrastructure projects.

The plastic adhesive market is also set to benefit from the expansion of the automotive industry. Essential in manufacturing automotive parts such as bumpers, dashboards, and interior trims, plastic adhesives are in high demand due to the growth of the automotive sector. In 2022, the US automobile industry is expected to be valued at $100.9 billion, reflecting a 22% increase over 2021, as reported by Zippia. The continuous growth of the automotive industry is a driving force behind the plastic adhesive market's expansion.

Leading companies in the plastic adhesive market are focusing on innovation, introducing products like plastic-free blister packaging to enhance their consumer adhesives portfolios globally. Henkel, a Germany-based chemical and consumer goods company, announced plans to launch plastic-free blister packaging in June 2022, aligning with sustainability and packaging targets for 2025 and contributing to a circular economy.

Automation and instrumentation solutions are becoming integral to plastic adhesive companies, enhancing production process control. Automation instruments, including control valves, temperature transmitters, level transmitters, flow transmitters, and pressure transmitters, improve operational efficiency in manufacturing facilities. In August 2022, 3M Company and Nordson introduced an automated bonding system, combining the benefits of 3M and VHB tapes with the versatility of a liquid adhesive. This end-to-end bonding solution offers a faster, simpler, and more sustainable manufacturing solution.

In May 2023, H.B. Fuller, a US adhesive specialist, strengthened its position in the market through the acquisition of Beardow Adams, a UK-based adhesive company. This strategic move aligns with H.B. Fuller's goal of expanding its leadership position, customer base, and technology portfolio to address megatrends such as e-commerce, food safety, and sustainability. Beardow Adams, a UK-based adhesive company, includes a focus on plastic adhesives.

Major companies operating in the plastic adhesives market include 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

Asia-Pacific was the largest region in the plastic adhesives market in 2023. Asia-Pacific is expected to be the fastest-growing region in the market. The regions covered in the plastic adhesives report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the plastic adhesives market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.

The plastic adhesives market consists of sales of plastic adhesives in different forms including pellets, paste and liquid. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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