Global Adhesive Resin Market Overview
Adhesive Resin Market Size was estimated at 42.48 (USD Billion) in 2022. The Adhesive Resin Industry is expected to grow from 44.92(USD Billion) in 2023 to 74.27 (USD Billion) by 2032. The Adhesive Resin Market CAGR (growth rate) is expected to be around 5.74% during the forecast period (2024 - 2032).
Key Adhesive Resin Market Trends Highlighted
There is an increasing demand for the Adhesive Resin Market due to the growing use of lightweight materials and newer manufacturing technologies across industries. A strong trend in this market is the movement towards the use of more eco-friendly and sustainable adhesives, with manufacturers developing water-based and lower-solvent resin adhesives. Construction, automotive, aerospace, and electronics industries are other major factors driving the adhesive resin market. Growth is being sustained by the increasing demand for stronger high-performance adhesives with enhanced bond strength, higher durability, and high resistance to extreme conditions. The growth of emerging markets provides significant opportunities for expansion, especially in the Asia Pacific and Latin America. Recent developments include surface-mounted adhesive applications with nanotechnology for gripping applications and adhesive with bonding and heat dissipation properties. Recent developments also include the development of UV curable and light curable adhesion utilizing short cure times and low energy usage.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Adhesive Resin Market Drivers
Increasing Demand from Automotive and Aerospace Industries
Adhesive resins are seen as substantial consumption in the automotive and aerospace industries. They are used for attaching such structural elements as body panels in cars or wings and tail assemblies in aircraft. Adhesive resins can also be used for sealing, as land vehicle and aircraft performance largely depends on the extent to which they are protected against environmental influences. To this effect, they can be used for adhesion of a certain detail to protect important elements of the system, such as fuel tanks, hydraulic supplies, or important electronics.
In the long term, this category of demand looks highly likely to grow. Lightweight cars and fuel-efficient aircraft are increasingly becoming a significant part of the automotive and aerospace industries. Moreover, the number of extreme-condition materials used in these two industries is also on the rise, necessitating the use of high-strength, high-performance adhesives. This prediction is in line with the already established trend: the automotive industry was the largest consumer of adhesive resins in 2020.
Apart from the well-established automotive industry, the Asia-Pacific also has a growing automotive sector. Overall, the steady growth of both the automotive and aerospace industries indicates that the demand for adhesive resins will rise alongside it.
Rising Adoption of Bio-Based and Environmentally Friendly Adhesives
The growing environmental concerns and regulations are driving the demand for bio-based and environmentally friendly adhesives. Consumers and businesses are becoming increasingly aware of the negative impact of traditional adhesives on the environment, and they are seeking more sustainable alternatives. Bio-based adhesives are made from renewable resources, such as plant-based materials, and they offer comparable performance to traditional adhesives while reducing environmental impact.
Environmentally friendly adhesives are designed to minimize VOC emissions and hazardous waste generation, making them safer for workers and the environment. The Adhesive Resin Market Industry is responding to this demand by developing and introducing a wide range of bio-based and environmentally friendly adhesives. These adhesives are gaining traction in various industries, including packaging, construction, and automotive. The adoption of bio-based and environmentally friendly adhesives is expected to continue to grow as consumers and businesses become more conscious of their environmental impact.
Technological Advancements and New Product Development
The growth of the Adhesive Resin Market Industry is driven by technological advances and new product development. Adhesive manufacturers are investing in research and development to enhance the performance, efficiency, and sustainability of their products. New technologies, such as UV-curable adhesives and hot melt adhesives, are being developed to cater to the changing needs of end-use industries. The development of new adhesives possessing better properties, such as high bond strength, fast curing time, and resistance to extreme conditions, increases the adhesive resin market manufacturers’ scope.
New product and technology launches are expected to continue to boost the growth of the adhesive resin market in the future.
Adhesive Resin Market Segment Insights
Adhesive Resin Market Resin Type Insights
The adhesive resin market is segmented on the basis of resin type into epoxy, acrylic, polyester, polyurethane, and others. Epoxy is anticipated to be the dominant resin type due to its inherent properties, such as excellent adhesion, high strength, and chemical resistance. Acrylic resin type is projected to be the fastest growing segment as it is low in cost, versatile, and easy to apply. Polyester resin type is anticipated to witness considerable market penetration due to its high durability and weather resistance. The growth of the market is attributed to the increasing demand for adhesive resins from various end-use industries such as automotive, construction, packaging, and electronics.
The increase in demand for lightweight materials and the need for strong and durable adhesives are further fuelling the growth of the market. The Asia Pacific regional market is projected to be the leader of the adhesive resin market over the forecast period. The growth in the region is primarily driven by the rapid industrialization and urbanization in countries such as China, India, and Japan. Increasing disposable income and the rising demand for consumer electronics and automobiles are also boosting the growth of the market in the region.
Some of the key companies in the adhesive resin market are 3M Company, Dow Chemical Company, Henkel AG Co. KGaA, and Sika AG. These companies are focusing on research and development projects to introduce new products and expand their product portfolio. Some of the mergers and acquisitions conducted by companies are as follows:
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Adhesive Resin Market Application Insights
The application segment is a crucial aspect of the Adhesive Resin Market, influencing market trends and growth prospects. Adhesive resins find extensive applications across various industries, including Automotive, Construction, Electronics, and Aerospace. The automotive sector utilizes adhesive resins to bond components, seal joints, and enhance structural integrity. The construction industry employs adhesive resins for structural glazing, flooring, and roofing applications. In the electronics industry, adhesive resins are used to encapsulate components, protect circuits, and improve heat dissipation.
The Aerospace industry relies on adhesive resins for bonding composite materials, reducing weight, and enhancing aircraft performance. The Adhesive Resin Market revenue for the Automotive segment is projected to reach $14.5 billion by 2024, while the Construction segment is expected to contribute $10.7 billion by the same year. The Electronics segment is anticipated to grow at a CAGR of 5.2%, and the Aerospace segment is expected to witness significant growth due to increasing demand for lightweight and durable materials in aircraft manufacturing.
Adhesive Resin Market End-Use Industry Insights
The end-use industry segment plays a crucial role in shaping the market dynamics. Among the key end-use industries, automotive manufacturing holds a significant share, driven by the increasing demand for lightweight and fuel-efficient vehicles. The construction materials segment is another major contributor, with adhesives finding applications in bonding various materials, including wood, metal, and glass. Electronics manufacturing also relies heavily on adhesive resins for assembling and packaging electronic components. Aerospace and defense applications demand high-performance adhesives that can withstand extreme conditions, further propelling market growth.
Adhesive Resin Market Regional Insights
The regional segmentation of the Adhesive Resin Market provides insights into the geographic distribution of the market. North America holds a significant market share due to the presence of major manufacturers and high demand from industries such as automotive, construction, and packaging. Europe is another key region, with a well-established market driven by stringent regulations and a focus on sustainable solutions. APAC is expected to witness significant growth, driven by increasing urbanization, industrialization, and population growth, particularly in countries like China and India.
South America and MEA are emerging markets with growth potential but face challenges such as economic instability and lack of infrastructure.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Adhesive Resin Market Key Players And Competitive Insights
Top players in the Adhesive Resin Market industry are aiming to stay competitive by means of extensive investments in R&D activities, implementing new product launches, and focusing on inorganic growth. Leading industry participants are constantly making efforts to develop innovative products that will meet growing customers’ demands. The high demand for lightweight, high-performing materials should be viewed as the key factor boosting the Adhesive Resin Market growth. The geographic expansion of the Adhesive Resin Market’s competitive landscape features both incumbent and emerging players. Henkel, 3M, Sika AG, Bostik, and Arkema are considered to be the major key players in the market.
Henkel is viewed as one of the key Adhesive Resin Market players with a worldwide customer reach. The company offers an extensive range of adhesive resin products, including but not limited to epoxy resins, acrylic resins, and polyurethane resins. It is essential to note that Henkel is focused on its numerous sustainability initiatives, and R-D is focused on providing new products. The company’s vast reach and extended product range are the main factors that ensure its competitive advantage in the Adhesive Resin Market industry.
3M also should be classified as a major Adhesive Resin Market player. Extensive product range should be viewed as the key factor which is ensuring the company’s solid position in the industry. 3M’s product range includes but is not limited to, pressure-sensitive adhesives EG6038, hot melt adhesives EG6022, and structural adhesives EG6030. The company’s strong focus on superior customer services and technical support should be considered as the key reason why 3M is widely considered to be one of the leaders in the market.
Key Companies in the Adhesive Resin Market Include
Adhesive Resin Market Industry Developments
The adhesive resin market is projected to reach a value of USD 74.27 billion by 2032, exhibiting a CAGR of 5.74% during the forecast period 2024-2032. The market growth is attributed to the increasing demand for adhesives in various end-use industries, including automotive, construction, packaging, and electronics.
Recent news developments in the market include the launch of new products by major players. For instance, in 2023, Henkel AG Co. KGaA introduced a new range of LOCTITE adhesives specifically designed for electric vehicle applications. Additionally, market participants are focusing on expanding their production capacities to meet the growing demand. For example, in 2022, Arkema announced plans to invest EUR 50 million to expand its production capacity for specialty resins, including adhesive resins, at its Changshu site in China.
Adhesive Resin Market Segmentation Insights
Adhesive Resin Market Resin Type Outlook
Adhesive Resin Market Application Outlook
Adhesive Resin Market End-Use Industry Outlook
Adhesive Resin Market Regional Outlook
| Report Attribute/Metric | Details |
| Market Size 2022 | 42.48(USD Billion) |
| Market Size 2023 | 44.92(USD Billion) |
| Market Size 2032 | 74.27(USD Billion) |
| Compound Annual Growth Rate (CAGR) | 5.74% (2024 - 2032) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year | 2023 |
| Market Forecast Period | 2024 - 2032 |
| Historical Data | 2019 - 2023 |
| Market Forecast Units | USD Billion |
| Key Companies Profiled | SK Chemicals, Arkema, TotalEnergies, Dow, Solvay, Toagosei, Wacker Chemie, BASF, Huntsman, Kaneka, Mitsubishi Chemical, Eastman Chemical, Sumitomo Chemical, Henkel |
| Segments Covered | Resin Type, Application, End-Use Industry, Regional |
| Key Market Opportunities | Biobased and sustainable adhesives Advancements in UV-curable adhesives Growing demand in packaging and ecommerce Increasing adoption in automotive and aerospace industries Expansion into emerging markets. |
| Key Market Dynamics | Increasing demand for lightweight vehicles, growing use in the aerospace industry, rising construction activities, increasing demand for renewable energy sources, expanding packaging industry |
| Countries Covered | North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The adhesive resin market size was valued at USD 44.92 billion in 2023 and is projected to reach USD 74.27 billion by 2032, exhibiting a CAGR of 5.74% during the forecast period.
North America is expected to hold the largest market share during the forecast period due to the increasing demand from the construction and automotive industries in the region. North America and Europe are also significant markets for adhesive resins, driven by the presence of major manufacturers and the growing demand for high-performance adhesives.
The packaging industry is expected to be the largest application segment for adhesive resins, driven by the growing demand for flexible packaging and the increasing use of adhesives in food and beverage packaging. Other major applications include the automotive, construction, and electronics industries.
Major players in the adhesive resin market include Henkel, 3M, Arkema, H.B. Fuller, and Sika AG. These companies offer a wide range of adhesive resin products and have a strong
One of the key trends in the adhesive resin market is the growing demand for sustainable and eco-friendly adhesives. Manufacturers are increasingly focusing on developing adhesives that are biodegradable and have a lower environmental impact.
The adhesive resin market is facing challenges such as fluctuations in raw material prices and the stringent regulatory landscape governing the use of chemicals in adhesives.
The adhesive resin market is expected to witness steady growth over the coming years. The increasing demand from emerging economies and the growing adoption of advanced adhesives in various industries are expected to drive market growth.
The growth of the adhesive resin market is attributed to factors such as the increasing demand for lightweight and high-performance materials in various industries, the growing trend towards sustainability, and the advancements in adhesive resin technology.
Key opportunities for growth in the adhesive resin market include the increasing adoption of adhesives in emerging markets, the development of new and innovative adhesive resin products, and the growing demand for eco-friendly adhesives.
The adhesive resin market faces challenges such as the volatility of raw material prices, the stringent regulatory landscape governing the use of chemicals in adhesives, and the competition from alternative bonding technologies.
Senior Research Analyst With an experience of over five years in market research industry (chemicals & materials domain), i gather and analyze market data from diverse sources to produce results, which are then presented back to a client. also, provide recommendations based on the findings. as a senior research analyst, i perform quality checks (qc) for market estimations, qc for reports, and handle queries and work extensively on client customizations. also, handle the responsibilities of client proposals, report planning, report finalization, and execution
Get in Touch
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)
