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Plastic Adhesives Market Size

Report ID: GMI8808
Published Date: Apr 2024
Report Format: PDF

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Plastic Adhesives Market Size

Plastic Adhesives Market was valued at around USD 8.09 billion in 2023 and is anticipated to register a CAGR of over 5.4% between 2024 and 2032. The demand for plastic adhesives is being primarily driven by the burgeoning packaging industry, which requires strong and versatile bonding solutions for various packaging materials. Additionally, the building and construction sector is fueling demand as adhesives are indispensable for bonding plastic components in infrastructure projects.

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The transportation industry's need for lightweight materials and efficient assembly processes further boosts demand for plastic adhesives in vehicle manufacturing. In the medical devices sector, adhesives play a crucial role in assembling intricate plastic components with precision, ensuring reliability and performance. Moreover, the consumer goods industry relies on plastic adhesives for product assembly, enhancing product aesthetics and functionality, thereby contributing to market growth. Thus, the market is expected to attain a market value of over USD 13 billion by 2032.

Plastic Adhesives Market Report Attributes
Report Attribute	Details
Base Year:	2023
Plastic Adhesives Market Size in 2023:	USD 8.09 billion
Forecast Period:	2024 - 2032
Forecast Period 2024 - 2032 CAGR:	5.4%
2032 Value Projection:	USD 13.22 billion
Historical Data for:	2018 - 2023
No. of Pages:	310
Tables, Charts & Figures:	200
Segments covered:	Resin Type, Substrate, End Use
Growth Drivers:	Technological Advancements Increasing Demand in Emerging Economies Shift towards Lightweight Materials
Pitfalls & Challenges:	Environmental Concerns and Regulations

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While plastic adhesives offer numerous benefits, including versatility and durability, there is growing concern over their environmental impact. The use of certain adhesive formulations may contribute to pollution and pose disposal challenges. Additionally, tightening regulations regarding volatile organic compounds (VOCs) and hazardous substances could pose challenges for manufacturers, necessitating the development of more sustainable and compliant adhesive solutions. Failure to address these environmental concerns adequately could hinder market growth and lead to regulatory hurdles.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

Market size for plastic adhesives recorded USD 8 billion in 2023 and is expected to register over 5.4% CAGR from 2024 to 2032, due the expanding packaging sector requiring strong and versatile bonding solutions for various packaging materials.

The epoxy resin adhesives segment in the plastic adhesives industry reached USD 2.24 billion in 2023 and is expected to depict robust growth between 2024 and 2032, owing to their excellent resistance to heat, chemicals, and environmental factors for enhancing the durability of bonded assemblies.

Asia Pacific industry accumulated a revenue of USD 2.87 billion in 2023 and is predicted to reflect commendable growth from 2024 to 2032, on account of the expansion of packaging, e-commerce and FMCG sectors.

3M, Arkema, Ashland Inc, Dow Inc, Dymax Corporation, H.B. Fuller, Henkel AG, Illinois Tool Works, Mapei S.P.A., Master Bond Inc are some of the major plastic adhesives companies worldwide.