Plastic Adhesives Market Foreseen to Grow Exponentially by 2025

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science-technology

Summary

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

Press Release

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The market size for Plastic Adhesives is projected to grow from USD 6.8 billion in 2020 to USD 9.2 billion by 2025, at a CAGR of 6.3%. APAC is the largest consumer of plastic adhesives. Increasing demand in the medical industry, growth in the appliance industry, and growing demand from packaging and e-commerce industries are the factors driving the plastic adhesives market.

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Medical is the fastest-growing application segment of the plastic adhesives market.

Medical is projected to be the fastest-growing application of plastic adhesives. Medical device assembly varies widely and typically involves bonding materials that are otherwise difficult to create adhesion. Few substrates may even require the use of primers or other surface preparation to achieve satisfactory adhesion. In addition to bonding parts successfully, medical device adhesives must be compatible with direct or indirect contact with the body and may be required to withstand multiple sterilizations. Tubing, IV bags, syringes, catheters, films for packaging, surgical instruments, lab-ware, housings, and connectors are a few examples of plastics-based medical devices.

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H.B. Fuller is a global adhesives manufacturer, formulator, and marketer. The company has five operating segments, namely, Americas adhesives, engineering adhesives, construction adhesives, and EIMEA (Europe, India, the Middle East, and Africa), and Asia-Pacific. It is active in the field of adhesives for various applications such as assembly of electronics devices, vehicle assembly, packaging, and flexible packaging. In October 2017, HB Fuller finalized its acquisition of Royal Adhesives & Sealants from affiliates of American Securities for USD 1.575 billion. The acquisition enables HB Fuller to enhance its expertise in a specialty and high-value applications. In addition, the merger allows the company to expand its product offering in engineering, durable assembly, and construction adhesives.

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