According to the latest industry report by Fact.MR, the global adhesive resins market is projected to reach a valuation of US$ 31 billion by 2033, growing at a CAGR of 5.1% from 2023 to 2033. The market's growth is driven by increasing demand for adhesive resins across various industries, including automotive, industrial, packaging, and construction.

In recent years, there has been a notable rise in the demand for adhesive resins, particularly in consumer applications and transportation sectors, further fueling growth opportunities. Specially engineered adhesives are being developed for assembling automotive and aircraft parts, contributing to market expansion. Additionally, the growing infrastructure development and increased activities in the building and construction sectors are driving further demand for adhesive products.

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Key Takeaways from Market Study

  • The global adhesive resins market is currently valued at US$ 18.7 billion and is expected to grow at a CAGR of 5.1% through 2033.
  • In Canada, the market is projected to expand at a CAGR of 4.1% over the same period.
  • By the end of 2033, global sales of adhesive resins are expected to reach US$ 31 billion.
  • In Germany, the market is forecasted to grow at a CAGR of 3.7%.

The growing trend for synthetic and eco-friendly adhesive resins is expected to create new opportunities for industry players. Increasing awareness about sustainable materials is driving demand for bio-based adhesives, helping end-use industries address environmental concerns. Additionally, industries are shifting towards hot-melt adhesives, further supporting market growth.

However, several challenges may affect the global market's growth. Stringent regulatory policies and the time-consuming approval processes, along with volatility in raw material prices, pose significant barriers. Additionally, difficulties in separating objects during testing and the reduced stability of these adhesives at high temperatures are limiting growth prospects. Despite these challenges, these adhesives offer advantages, such as providing weaker bonds for larger objects with smaller surface areas. The growing demand for low-carbon, lightweight vehicles in the automotive industry is expected to drive the continued need for adhesives and their resins.

Competitive Landscape

  • Industry players are adopting various strategies, such as partnerships, agreements, mergers and acquisitions, product launches, improved supply chain management, and compliance with safety regulations, to unlock new growth opportunities in the market.

For example:

    • In June 2022, DuPont completed the sale of its Biomaterials business unit to the Huafon Group for approximately US$ 240 million.
    • In March 2022, ExxonMobil announced the construction of a new LAO (liner alpha olefins) production unit, set to begin in mid-2023 to meet local demand. ExxonMobil will produce ten high-purity LAO products and commercialize them under the brand name ElevexxTM.
    • In December 2021, Mitsui Chemicals, Inc. signed a capital and commercial partnership agreement with Japan Medical Dynamic Marketing, Inc., acquiring shares of Japan MDM from NGK Spark Plug Co., Ltd., the company's largest shareholder.

Key Companies Profiled

  • Ashland, Inc.
  • DuPont de Nemours, Inc.
  • Evonik Industries AG
  • Eastman Chemical Company
  • Georgia-Pacific Chemicals LLC
  • The Compound Company BV (Yparex)
  • Mitsubishi Chemical Corporation
  • Lawter B.V.

Winning Strategy

Industry players are implementing various strategies, including mergers and acquisitions, to create new growth opportunities in the market.

  • For example, in April 2019, Eastman Chemical Company acquired the production assets of Marlotherm Heat Transfer from Sasol, a global chemical and energy corporation based in Germany. This acquisition included customer contracts, intellectual property, and associated formulations, enabling Eastman to offer a broader range of heat transfer fluids to global consumers.

Segmentation of Adhesive Resins Industry Research

  • By Type :
    • Epoxy
    • Polyurethane
    • Synthetic Rubber
    • Polyacrylic Ester (PAE)
    • Others
  • By Application :
    • Building & Construction
    • Paper & Packaging
    • Transportation
    • Leather & Footwear
    • Consumer/DIY
    • Others
  • By Region :
    • North America
    • Europe
    • Asia Pacific
    • Latin America
    • Middle East & Africa

More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the global adhesive resins market for the period of 2023-2033.

The study divulges essential insights into the market on the basis of type (epoxy, polyurethane, synthetic rubber, polyacrylic ester (PAE), others) and application (building & construction, paper & packaging, transportation, leather & footwear, consumer/DIY, others), across five major regions (North America, Europe, Asia Pacific, Latin America, and MEA).

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