Adhesive Resin Market size worth US$21.095 billion by 2027
Knowledge Sourcing Intelligence releases the publication of a new analysis report on the market “Adhesive Resin Market – which is projected from 2020 to 2027”.
The Adhesive Resin market is estimated to reach a market size worth US$21.095 billion by 2027
Adhesive resins are a type of composite material with excellent adhesive properties. Adhesive resin is utilized in many different applications, such as transportation, footwear, and others. It enhances durability and builds a strong composite structure because it is a diversified material that disperses stress to balance the joints and improves the product’s cohesive strength. It offers several advantages, including flexibility and moisture resilience, as well as the ability to be utilized as an emulsion.
As per the report, the market for Adhesive Resins Market is expected to grow at a steady pace.
Adhesive resins combine many applications and materials as an adhesive layer to improve durability and structure integrity. The Adhesive Resin is used to increase the retention capability of compounds and compomers, hence preventing bacterial microleakage. The current technical breakthroughs in the cost considerations of adhesive resins, as well as the development of sustainable buildings and smart city development, will drive demand for the market share. Furthermore, increased demand for ecological and synthetic adhesive resins is anticipated to contribute to market share. Growing awareness of eco-friendly materials is projected to fuel demand for bio-based glue, allowing end-user businesses to reduce their environmental impact.
Several sticky resin layers are used in multilayer plastic containers. By locking out water and air and sealing in the flavor and odor of the food, the resin glue functions as a resistance to bacterial contamination. Because of its ability to operate as a blocking adhesive, avoiding ruptures and leaking, and producing a sealed adhesive bond, adhesive resin is also commonly employed in packaging.
Based on technology, the adhesive resin market is segmented into water-based, solvent-based, hot-melt, and others. Water-based technology’s excellent moisture resilience contrasted with other adhesives, as well as technical improvement, has broadened its application area. As a result, as per technology, the water-based segment is expected to have the most market share.
Based on the end-user industry, the adhesive resin market is divided into packing, construction, transportation, consumer electronics, leather, automotive, and others. The market trend is growing due to increased demand for adhesive resins in automotive and consumer applications. Adhesive resins are used in the construction of aircraft and automotive bodywork. As a result of infrastructure construction, the increase in activities in the building and construction sector is also having a positive influence on market size. However, the growing construction sector and the rise of investment in this segment will drive the market to flourish by generating high demand during the projected period.
Based on geography segmentation, the adhesive resin market is segmented into North America, Europe, South America, the Middle East and Africa, and Asia Pacific regions. Due to rising infrastructure building activities, China and India are likely to have considerable product demand in the building and construction industry throughout the projection period. According to the India Brand Equity Foundation (IBEF), the Indian government allotted Rs. 13,750 crores to Smart Cities Mission and AMRUT in the Union Budget 2021 to promote projects such as ‘Housing for All’ and ‘Smart Cities Mission’. Additionally, at the 55th meeting of the Central Sanctioning and Monitoring Committee under Pradhan Mantri Awas Yojana-Urban, the Ministry of Housing and Urban Affairs authorized plans for the building of 16,488 dwellings in August 2021. (PMAY-U). Similarly, as per the National Bureau of Statistics statistics, China’s infrastructure investment increased by 8.7 percent year on year in the first ten months of 2022, 0.1 percentage point more than in the first three quarters. Therefore, such government initiatives and investments will surge the market share for this region in the upcoming years.
As a part of the report, the major players operating in the adhesive resin market that have been covered are key players in the adhesive resin market including DuPont, Exxon Mobil Corporation, Evonik Industries, DOW, Ashland, Yparex, Mitsubishi Chemical Corporation, and Georgia-Pacific.
View a sample of the report or purchase the complete study at https://www.knowledge-sourcing.com/report/adhesive-resin-market
This analytics report segments the adhesive resin market on the following basis
- By Technology
- By End-User Industry
- Consumer Electronics
- By Geography
- North America
- South America
- United Kingdom
- Middle East and Africa
- Saudi Arabia
- Asia Pacific
- South Korea
- North America
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