Adhesive Resin Market – Trends Forecast Till 2030

Market Snapshot

Market Overview

The Adhesive Resin market size was estimated at USD 14.33 billion in 2023 and is projected to reach USD 18.87 billion in 2030 at a CAGR of 4.01% during the forecast period 2023-2030.

Adhesive resin is a carboxylic acid-based precursor plastic compound used to create polymers and adhesives for a variety of applications, including dental work, pressed building board composites, and regular household glues. The construction sector consumes a major portion of the adhesive resin that the oil industry produces, such as urea-formaldehyde, which is mostly used to assemble particle board, fibreboard, and plywood components. Over 80% of all items that need resins employ urea-formaldehyde, the industry leader in adhesive resins

The market is expanding as a result of the rising demand for adhesive resins in transportation and consumer applications. The expansion of activity in the construction and building industry is also having a favourable influence on market growth as a result of infrastructure development. The most recent developments in commercial adhesive resin technology, as well as the trend toward sustainable building and the growth of smart cities, will help to drive demand.

On the other hand, it is anticipated that factors including raw material price volatility and onerous and time-consuming regulatory procedures might slow down the growth of the market throughout the forecast period. Additionally, decreased stability at high temperatures, relative weakness in attaching big items with a limited bonding surface area, and increased difficulty in detaching objects during testing are the possible inhibitors to the overall growth of the adhesive resin market.

The COVID-19 pandemic has had a significant impact on the growth of the market. The pandemic led to decrease in demand for adhesive resins in a number of industries, such as automotive, construction, and packaging industries. This is due to the fact that these industries were negatively impacted by the pandemic. Moreover, the pandemic disrupted the global supply chains, making it difficult for manufacturers to get the raw materials they need to produce adhesive resins.

Delvens Industry Expert's Standpoint

The adhesive resin market is expected to grow during the forecast period. This growth can be attributed to several factors such as rising demand for adhesive resins in transportation and consumer applications, the expansion of activity in the construction and building industry and the growth of smart cities. However, raw material price volatility, onerous and time-consuming regulatory procedures, decreased stability at high temperatures, relative weakness in attaching big items with a limited bonding surface area, and increased difficulty in detaching objects during testing might slow down the growth of the market during the forecast period.

Market Portfolio

Key Findings

• Based on Resin Type, the market is bifurcated into Polyacrylic Ester (PAE), Polyvinyl Acetate (PVA), Vinyl Acetate Ethylene (VAE), Synthetic Rubber (SBS, CR & SIS), Polyamide, Ethylene Vinyl Acetate (EVA), and Others. Polyacrylic Ester dominated the market in this segment. Excellent water resistance, superior impact strength, and great bonding qualities all contribute to the polyacrylic ester (PAE) segment's high demand.
   
• Based on Technology, the market is bifurcated into Water-Based, Solvent-Based, Hot Melt, Reactive, and Others. Water-based Adhesive Technology dominated the market in this segment. The range of applications for water-based technology has expanded because to features including higher moisture resistance than other adhesives and technical improvement.
   
• Based on Application, the market is bifurcated into Paper & Packaging, Building & Construction, Woodworking, Transportation, and Others. Building & Construction dominated the market in this segment. The expansion of the building and construction sector has been positively impacted by government incentives and support for first-time homeowners in both developed and emerging nations. The demand is growing because to the rising infrastructure and building investment in developing nations.
   
• The market is also divided into various regions such as North America, Europe, Asia-Pacific, South America, and Middle East and Africa. North America is estimated to account for the largest market share during the forecast period because of the increasing number of building and construction projects within the region.

Regional Analysis

North America to Dominate the Market

• North America is estimated to account for the largest market share during the forecast period because of the increasing number of building and construction projects within the region.

• Moreover, rapid industrialization and urbanization are expected to drive the growth of the market further during the forecast period.

Competitive Landscape

• Alchemie Ltd.
• Ashland Global
• Dow
• DuPont
• Eastman Chemical Company
• Evonik Industries
• ExxonMobil Chemical Company
• Georgia-Pacific Chemicals LLC
• Lawter Capital B.V.
• LD Davis
• Mechemco
• Mitsubishi Chemical Corporation
• National Adhesives & Polymers
• Polygon Adhesives & Resins Pvt.Ltd.
• Resinall Corp
• Resins & Plastics Limited
• SATYEN POLYMERS PVT. LTD.
• STAR SPECIALTIES POLYMERS PVT. LTD
• Yparex B.V.

Recent Developments

• In December 2022, Cray Valley has introduced its latest hydrocarbon resin – Wingtack 20, a viscous liquid aliphatic resin with high flash point and low color.
   
• In June 2021, Kolon Industries Inc., a textile and chemical materials maker, announced on Wednesday that it had applied for a patent for an eco-friendly adhesive resin developed using wood byproducts, a first in South Korea.

Reasons to Acquire

• Increase your understanding of the market for identifying the most suitable strategies and decisions based on sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends, and factors.
   
• Gain authentic and granular data access for the Adhesive Resin Market to understand the trends and the factors involved in changing market situations.
   
• Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future.
   
• In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns.

Report Scope