Henkel AG (Germany), H.B. Fuller (US) are Leading Players in the Plastic Adhesives Market

Plastic Adhesives Market

CITY, Country, 2021-Oct-14 — /EPR Network/ —

The plastic adhesives market size is estimated to be USD 6.8 billion in 2020 and is projected to reach USD 9.2 billion by 2025, at a CAGR of 6.3% between 2020 and 2025. Strong growth can be witnessed in the plastic adhesives market in the APAC region, especially in China and India. The increasing use of Plastic adhesives in the packaging, automotive & transportation industry, and medical is projected to create new opportunities for the market players.

The increasing pace of change in the global market for household appliances stems from a number of trends, such as increased consumer power, digitalization, sustainability, consolidation, and a growing middle-class population. These changes are placing demands on investments and economies of scale and open up major opportunities in the appliance industry. One of the top trends in the appliances industry is the demand for smaller units. The number of compact homes has grown exponentially due to factors such as population growth, increased costs of living, and more people choosing to reside in highly populated areas. These trends will boost the demand for plastic adhesives in the appliance industry.

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APAC is expected to be the largest and fastest-growing market for Plastic adhesives. The market growth is expected to be supported by improving global economy, rising domestic demand for food products, and increasing exports. China is one of the largest consumers of PE and has abundant amount of raw materials with low cost of production. Due to the growing population of the country, the usage of plastic in different types of industries has increased, thereby increasing the demand for plastic adhesives. Industries like footwear and food packaging are beginning to use plastic in manufacturing, thereby increasing the use of plastic adhesives.

Packaging was the largest application of plastic adhesives, in terms of value, in 2019. The segment is expected to continue dominating the overall plastic adhesives market due to the increasing demand for packaged and microwaveable food with extended shelf-life. Also, an increase in online ordering of day-to-day products from e-commerce websites has a significant impact on the plastic adhesives in the packaging sector.
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Continuous developments in the market, including new product launches, investment & expansion, partnership & agreements, and merger & acquisitions, are expected to help the market grow. Several products are being introduced, and investments are made on increasing the production capacity of plastic adhesives by manufacturers for different applications. Investment & expansion helped companies enhance their global presence.

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