TAGS: Polyurethane Adhesives
Markets and Markets (M&M) anticipates that the global plastic adhesives market to grow from USD 6.8 billion in 2020 to USD 9.2 billion by 2025, at a CAGR of 6.3 percent, during the 2020-2025 forecast period. 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.
Medical Adhesives: Fastest Growing Application
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.
Increased Demand of PU Resin in the Automotive Industry
Polyurethane plastic adhesives offer good adhesion to a variety of substrates, including heavily plasticized PVC, even though a primer is required. The largest application of polyurethane-based plastic adhesives is the structural bonding and sealing of automotive windshields.
They are very effective in large area panel bonding of metals and composites. Thermoplastic polyurethanes are widely used in various industrial and household environments. Polyurethanes offer good chemical and temperature resistance. However, long-term exposure to high temperatures degrades polyurethanes more rapidly than epoxies.
Highest Growth in the APAC Region
APAC is projected to lead the plastic adhesives market during the forecast period. 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 an 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.
Source: Markets and Markets