Fact.MR has released a new adhesive resins market report, titled Adhesive Resins Market Analysis By Type (Epoxy, Polyurethane, Synthetics Rubber, Polyacrylics Ester (PAE), Others), By Application (Building & Construction, Paper & Packaging, Transportation, Leather & Footwear, Consumer/DIY, Others), And Region – Global Market Insights 2023 to 2033. According to the report, the global adhesive resins market is forecasted to reach a valuation of $31 billion by 2033, expanding at a CAGR of 5.1% from 2023 to 2033. Growth opportunities in the global industry are attributed to increasing demand for adhesive resins from automotive, industrial, packaging, construction, and other end-use industries.
Reportedly, there has been a significant increase in the demand for adhesive resins across consumer applications and transportation, which is further bolstering growth opportunities in the global market. Some specially-engineered adhesives are manufactured for the purpose of assembling automotive and aircraft parts. Furthermore, due to infrastructural developments owing to rising activities in the building and construction industry, the demand for these adhesive products is also increasing.
The trend for synthetic and green adhesive resins is also predicted to contribute to opportunities for industry players. Growing awareness about eco-friendly materials is expected to fuel demand for bio-based adhesives. These factors will enable the end-use industries in reducing their issues about the environment. End-use industries are also making a shift towards hot-melt adhesives. In addition, the increasing count of surgical procedures and technological advancements taking place in these end-use industries are predicted to propel growth opportunities in the respective market. Asia Pacific is forecasted to hold the largest share of the global market owing to the rising count of infrastructural activities that are taking place in the region.
On the flip side, certain challenges and restraints will impact the overall growth of the global market. Some of these factors include time-consuming and stringent regulatory policies and volatility in the prices of raw materials. Greater difficulty to separate objects during the testing process and decreased stability of these solutions at high temperatures are also restricting growth opportunities for industry players. However, these adhesives provide relative weakness to bonding larger objects with a smaller surface area. Nevertheless, the increasing demand for low carbon-emitting and lightweight vehicles from the automotive industry will bolster demand for adhesives and their resins.
Additionally, the report also profiles the following companies:
- Ashland Inc.
- DuPont de Nemours Inc.
- Evonik Industries AG
- Eastman Chemical Co.
- Georgia-Pacific Chemicals LLC
- The Compound Co. BV (Yparex)
- Mitsubishi Chemical Corp.
- Lawter B.V.
The full report can be accessed here.