Adhesive Resins Market
Adhesive Resins Market Analysis By Type (Epoxy, Polyurethane, Synthetic Rubber, Polyacrylic Ester (PAE), Others), By Application (Building & Construction, Paper & Packaging, Transportation, Leather & Footwear, Consumer/DIY, Others), And Region – Global Market Insights 2023 to 2033
Analysis of Adhesive Resins Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Adhesive Resins Market Outlook (2023-2033)
The global adhesive resins market is valued at US$ 18.7 billion in 2023 and is forecasted to top a market valuation of US$ 31 billion by the end of 2033, expanding at a CAGR of 5.1% over the next ten years.
Rising requirements for adhesive resins for various consumer applications along with transportation are stimulating the sales of these products. In addition, based on infrastructural development, there has been a significant increase in the construction and building sector, which is also predicted to drive the global demand for adhesive resins over the coming years.
In recent years, the ongoing trend of sustainable construction as well as the development of smart cities is estimated to foster market opportunities. Furthermore, the latest technological advancements that are taking place in the commercial aspects of these adhesive resins are projected to fuel the demand for these solutions.
Adhesives are helpful to bond two surfaces together while featuring the ability to bind different materials. Adhesive resins further provide superior binding strength and distribute stress with efficiency across the joints. These solutions are being used at an increased rate to improve the retention capabilities of compomers and composites that can be used at later stages for the prevention of bacterial microleakage. They can integrate multiple objects and applications as an adhesive layer for the enhancement of durability and optimization of the integrity of any structure.
To assist in the process of adhesion, these resins form a strong bond. There is a wide variety of adhesive resins that are available in the market, including polyacrylic ester (PAE), ethylene vinyl acetate (EVA), synthetic rubber (SBS, CR, & SIS), vinyl acetate ethylene (VAE), and polyvinyl acetate (PVA). These diverse adhesives are generally bonded with different materials with the use of four major technologies that include, hot-melt, water-based, reactive-based, and solvent-based.
Adhesive resins that are present in emulsion form provide the advantages of resistance to moisture and elasticity. Their application provides resistance to temperature, toughness, aging, and chemicals. They also enhance the cohesive strength of products.
Construction, automotive, packaging, oil & gas, and other industries are the prominent users of adhesive resin solutions and play a big part in the pricing trends of the market. In the industry of oil & gas, they are used for the filling and stopping of leakage between the coating of pipes and pipelines. Furthermore, they are also used for the packaging of bottles, seafood & meat, consumer goods, and food & beverages. In the transportation industry, these solutions are used to manufacture abrasive and aerospace components.
Market Size in 2023
US$ 18.7 Billion
Forecasted Market Value (2033)
US$ 31 Billion
Anticipated Market Growth Rate (2023-2033)
Canada Market Growth Rate (2023-2033)
Germany Market Growth Rate (2023-2033)
Key Companies Profiled
Which Significant Opportunities Await Adhesive Resins Manufacturers?
“Growing Demand for Adhesive Resins in Numerous End-use Industries”
Adhesive resins are used widely for the packaging of consumer goods, food & beverages, seafood and meats, bottles, and tubes. In the plastic industry, these solutions are recommended as the binding agent for the enhancement of the tensile strength of respective plastic. Further, in the building & construction industry, these products are used as sealants, flooring adhesives, and contact adhesives.
Owing to efficient sealing features, these resins are applied in the transportation industry to manufacture aerospace and abrasive components. Moreover, in the industry of automotive, adhesive resin is used in automotive body parts including front-end modules and door modules. Thus, the sales of adhesive resins are projected to increase based on their increased application across different industries.
“Rising Awareness about Eco-friendly Materials”
End users of adhesive resins are becoming aware of the market availability of eco-friendly materials. These materials are anticipated to enable different end-user industries to reduce their environmental concerns. These specially-engineered adhesives are developed to assemble aircraft and automotive bodies.
Thus, owing to growing demand from end-use industries for adhesive resins, the sales of these products are estimated to increase over the forecasted period.
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What Hurdles are Encountered by Adhesive Resin Providers?
“Fluctuation in Prices of Raw Materials”
The prices of raw materials that are used for the manufacturing of adhesive resins are not fixed. There is a constant fluctuation in their prices that can put a direct impact on the cost of final products that thus adversely impact the demand for these solutions.
“Inability of Majority of Adhesives to Withstand Extreme Temperatures”
A majority of adhesive resin types cannot withstand extreme temperatures. Even, sometimes they may fail if exposed to excess heat. They have decreased stability to high temperatures.
Adhesive resins encounter greater difficulty to separate objects during testing and provide relative weakness to bonding larger objects with smaller bonding surface area.
Thus, based on the abovementioned demerits, the demand growth for adhesive resins is expected to be hindered to some extent over the coming years.
Which Region Provides the Highest Opportunities for Adhesive Resin Suppliers?
“Increased Product Demand from Construction Industry in Asia Pacific”
Among the regional markets, the demand for adhesive resins is increasing rapidly in the Asia Pacific market. This regional market is predicted to exhibit the highest CAGR over the coming years.
India and China are estimated to experience increased product demand from the building and construction industry due to the booming activities for infrastructural developments. The rising trend of urbanization, the development of smart cities, and multiple government regulations for sustainable construction are anticipated to bolster growth opportunities in the regional market.
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Why is the Use of Adhesive Resins High in Japan?
“Infrastructural Developments Bolstering Sales of Adhesive Resins”
Demand for adhesive resins in Japan is anticipated to increase at a CAGR of 2.9% from 2023 to 2033. The demand for these adhesives is forecasted to increase due to the rising count of infrastructural developments that further stimulate demand for these resins. In addition, the increasing demand for adhesive resins from the packaging industry is also predicted to fuel sales of these products.
Why is the U.S. a Prominent Market for Adhesive Resins?
“Application of Green Approaches in Building Construction Businesses in the U.S.”
Green construction approaches are used at an increased rate by construction businesses in the U.S. This approach aims to create energy-efficient structures that too at lower construction costs. Moreover, growing investment in the construction and residential sectors is also predicted to augment growth opportunities in the U.S. market.
Sales of adhesive resins in the U.S. market were more than US$ 4 billion in the year 2022. Further, the market in Canada is projected to advance at a CAGR of 4.1 % through 2033.
How is Demand for Adhesive Resins Shaping Up across Germany?
“Increasing Requirements for Environment-friendly Adhesive Products”
Sales of adhesive resins in Germany are estimated to progress at a CAGR of 3.7% through 2033. Increasing requirements for environment-friendly products are estimated to boost sales of adhesive resins. Furthermore, the growing need for adhesive resins in consumer applications and rising demand for synthetic and green resins are also forecasted to bolster sales of these products.
Why is Demand for Polyacrylic Ester (PAE) So High?
“Growing Use of Polyacrylic Ester in Construction Sector”
Based on type, the market has been bifurcated into epoxy, polyurethane, synthetic rubber, polyacrylic ester (PAE), and others. Among these, the polyacrylic ester segment has been predicted to grow at the highest CAGR during the forecast period. The rapid increase in product demand is attributed to its wide penetration across construction applications.
Polyacrylic ester resins come with excellent water resistance and exceptional bonding properties. In addition, the good impact strength of these resins because of passing higher quality control tests is also expected to bolster their demand over the coming years.
Why are Adhesive Resins Gaining Popularity in the Building & Construction Industry?
“Growing Government Incentives & Funding for First-time Home Buyers”
The adhesive resins market is divided into building & construction, paper & packaging, transportation, leather & footwear, consumer/DIY, and others. Among these, the building & construction sector is predicted to hold the largest share of the global market.
Government incentives as well as funding for first-time homebuyers across developing and developed countries are estimated to put a positive impact on the growth opportunities in the building & construction industry. Furthermore, rising spending on infrastructure and construction activities across emerging nations is projected to accelerate the demand for adhesive resins that have better product standards.
Know thy Competitors
Competitive landscape highlights only certain players
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Competitive Landscape and New Developments
Numerous strategies, for instance, partnerships, agreements, mergers and acquisitions, novel product launches, better supply chain management, and adherence to safety regulations, are being adopted by industry players to generate novel growth opportunities in the market.
For instance :
- DuPont, in June 2022, announced the completion of the sale of its Biomaterials business unit. The unit has been purchased by the Huafon Group for a price of around US$ 240 million.
- ExxonMobil, in March 2022 said that the construction of the new LAO (liner alpha olefins) production unit is scheduled to start in mid-2023 to cater to local supply. ExxonMobil will produce ten high-purity LAO products and will commercialize them under the brand name, ElevexxTM.
- Mitsui Chemicals, Inc., in December 2021 announced the signing of a capital and commercial partnership agreement with Japan Medical Dynamic Marketing, Inc. Mitsui Chemicals, in conjunction with this agreement, has agreed to the acquisition of shares of Japan MDM. These shares are earlier held by NGK Spark Plug Co., Ltd. which is the largest shareholder of the company’s shares.
Key manufacturers of adhesive resins include Ashland, Inc., DuPont de Nemours, Inc., Evonik Industries AG, Eastman Chemical Company, Georgia-Pacific Chemicals LLC, The Compound Company BV (Yparex), Mitsubishi Chemical Corporation, and Lawter B.V.
Segmentation of Adhesive Resins Industry Research
By Type :
- Synthetic Rubber
- Polyacrylic Ester (PAE)
By Application :
- Building & Construction
- Paper & Packaging
- Leather & Footwear
By Region :
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
- FAQs -
The global adhesive resins market is predicted to progress at a CAGR of 5.1% through 2033.
The market for adhesive resins is currently worth US$ 18.7 billion.
The Canadian market is projected to expand at a CAGR of 4.1% through 2033.
Worldwide consumption of adhesive resins is anticipated to reach US$ 31 billion in value by 2033-end.
Asia Pacific is predicted to hold the largest market share in the global market.
Ashland, Inc., DuPont de Nemours, Inc., Evonik Industries AG, Eastman Chemical Company, Georgia-Pacific Chemicals LLC, and Mitsubishi Chemical Corporation are key manufacturers of adhesive resins.