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CHEMICALS AND ADVANCED MATERIALS

Plastic Adhesives Market By Type (Epoxy, Polyurethane, Ethylene vinyl acetate, Acrylic, Polyisobuylene, Styrenic block and Silicone); By Applications (Automotive, Building & construction, Electrical, Footwear and Packaging); By Technology (Solvent based, Reactive and Film) - Global Demand Analysis & Opportunity Outlook 2027

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Extensive insights into the Growth of Plastic Adhesives Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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Product Overview

An adhesive is any nonmetallic substance such as cement, glue and paste. It can be applied on the one or both surface. It is used to bind two separate items. Plastic adhesives are used to join the materials such as acrylic, polycarbonate, styrene or another type of plastic. It is also used for fixing plastic household appliances such as phones, computer, keyboard and audio appliances. It is also used for fixing electrical tubes, plastic bicycle and car parts. The other properties of plastic adhesives are strong, temperature resistant and transparent in nature. The application of plastic adhesives is in several end-user industries such as automotive, building and construction, electrical, footwear and others.

Market Size and Forecast

The global plastic adhesives market is anticipated to expand at a CAGR around 6.5% during 2018-2027. It is anticipated to attain significant market size by end of 2027. The growth can be attributed to rapid industrialization coupled with growing end-user industries such as automotive, packaging and footwear.

The global plastic adhesives market can be segmented on the basis of type, application and technology. On the basis of type it is sub-segmented into epoxy, polyurethane, ethylene vinyl acetate, acrylic, polyisobuylene, styrenic block and silicone. Epoxy sub-segment is anticipated to be the fastest growing sub-segment on the account of its high impact resistance. On the basis of application, it is sub-segmented into automotive, building & construction, electrical, footwear and packaging. Automotive industry is the largest sub-segment of plastic adhesives market on the account of wide application of plastic in vehicles. Plastic adhesives are used to provide strong adhesion to materials which are bonding with the other materials or the plastic. Additionally, increasing demand for the plastic adhesives from the automation industry is anticipated to drive the market growth of plastic adhesives market.

By region, global plastic adhesives market is segmented into North America, Asia-Pacific, Latin America, Europe, Middle East and Africa. Asia-Pacific is anticipated to observe healthy growth during the predicted period. The rising commercial and infrastructural activities by the developing countries such as China, India, Thailand, Bangladesh and Vietnam are the primary reason for the region to lead the market during the forecast period. Additionally, the growth in the automotive industry especially increasing number of vehicles is anticipated to boost the market growth in Asia-Pacific region.CLICK TO DOWNLOAD FREE SAMPLE

Market Segmentation

Our in-depth analysis segmented the global plastic adhesives market in the following segments:

By Type:

  • Epoxy
  • Polyurethane
  • Ethylene vinyl acetate
  • Acrylic
  • polyisobuylene
  • styrenic block
  • silicone

By Applications:

  • Automotive
  • Building & construction
  • Electrical
  • Footwear
  • Packaging

By Technology:

  • Solvent based
  • Reactive
  • Film

By Region

Global plastic adhesives market is further classified on the basis of region as follows:

  • North America (United States, Canada), Market size, Y-O-Y growth Market size, Y-O-Y growth & Opportunity Analysis, Future forecast & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis.

Plastic Adhesives Market Size

Growth Drivers and Challenges

The rising construction activity coupled with expansion in automotive industry is the main driver for the global plastic adhesives market. The increasing implementation of adhesives bonding technologies is anticipated to further fuel the market growth of plastic adhesives. Increasing disposable income of the population coupled with rising urbanization is the major growth driver for the global plastic adhesives market. Rising distribution of plastic adhesives through various distribution channels such as supermarkets, online and retail markets.

However, stringent regulation is a major factor expected to hamper the market growth during the forecast period. High research and development cost is also a major restraining factor for the market growth of the plastic adhesives.

Key Players

  • Huntsman Corporation
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
  • BASF SE
  • Adhesive Research Inc.
  • Sika AG
  • 3M
  • BÜHNEN
  • Bostik (Arkema)
  • DowDuPont
  • H.B. Fuller Co.
  • Henkel AG & Co. KGaA

 


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