Adhesive resins incorporate several applications and objects as an adhesive layer to enhance the durability and optimize the integrity of the structure. It joins the surface of diverse materials, efficiently distributing the stress at the junction. The application of adhesive resin forms a strong bond very quickly to aid the adhesion process. Application of high performance adhesive resin improves the cohesive strength. Adhesive resins available in emulsion form offer the advantage of elasticity and resistance to moisture. In addition to the long term adhesiveness, application of resins provide toughness and resistance to aging, temperature, and chemicals. Adhesive resin is available in several forms: solvent-based, water-based, and hot melt. The major components used in adhesive resin include: vinyl acetate, ethylene vinyl acetate, polyvinyl acetate, and polymerized acrylic resin emulsion.
Adhesive resin finds extensive application in numerous industries such as: packaging, oil and gas, plastic, construction, automotive, and transportation. Adhesive resin is most widely used in the packaging of food and beverages, consumer goods, sea foods and meat, tubes, and bottles. In the oil and gas industry, it is used to create linkage between pipelines and coating of pipes. In the plastic industry, the application of adhesive resin is recommended to act as a binding agent in order to enhance the tensile strength of plastic. In the automotive industry, adhesive resin is applied in automotive body parts such as door modules and front-end modules. In the building and construction industry, adhesive resins are applied as contact adhesives, flooring adhesives, and sealants. Due to the efficient sealing feature, adhesive resins find potential use in the transportation industry in manufacturing of abrasive and aerospace components.
The broad commercial application of adhesive resins in several industries builds a rapidly growing global market. The market for adhesive resins has exhibited an enormous rise in the last few years and a similar positive trend is anticipated to be witnessed during the forecast period. The market of adhesive resin is currently dominated by the Asia Pacific region. The huge growth of end-user industries such as automotive, construction, packaging, and consumer goods in developing countries such as China, Japan, South Korea, and India is propelling the demand of adhesive resins. In the next few years, the advancement of emerging technologies and rising demand of adhesive resin is estimated to fuel the market growth in the developing region of Asia Pacific. North America and Europe also possess a large share of the global market. Improved economy observed in these developed countries is a key factor for the market growth. The rising trend is predicted to continue during the forecast period. A prospective market for adhesive resin is expected to build up in the MEA region. Growing economy of this region is predicted to develop an emerging market of adhesive resins in the next few years.
Increasing awareness of ecofriendly materials is likely to drive the demand for bio-based adhesive which will enable the end-user industries to minimize their environmental concern. Specially-engineered adhesive resins are being developed for the assembly of aircraft and automotive bodies. Epoxy resin holds a large share of the global adhesive resin market currently due to improved functionalities such as corrosion protection, mechanical strength etc. Increased demand from end-user industries is influencing the higher growth rate of adhesive resin in the global market.
The major players that manufacture adhesive resin are companies such as: E. I. du Pont de Nemours and Company, LD Davis Industries, Inc., Exxon Mobil Corporation, The Dow Chemical Company, Mitsui Chemicals America, Inc., Resinall Corporation, Georgia-Pacific Chemicals LLC, Mitsubishi Chemical Corporation, and Ashland Inc. etc.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.