The global adhesive resin market is predicted to collect growth accumulated on the back of extensive applications in a number of industries such as transportation, automotive, construction, plastic, oil and gas, and packaging. In a report by Transparency Market Research (TMR), the market is closely analyzed for players to locate lucrative growth prospects about to take shape in the coming years. It is titled “Adhesive Resin Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 – 2024.” Adhesive resin is mainly used in the packaging of bottles, tubes, seafoods, meat, consumer goods, and foods and beverages.
In the oil and gas industry, adhesive resin is applied between pipelines and their coating to create a strong linkage. The manufacture of aerospace and abrasive components in the transportation industry could involve the potential use of adhesive resin because of its effective sealing property. If the building and construction industry is concerned, adhesive resin is used as a sealant, flooring adhesive, and contact adhesive. With a view to improve the tensile strength of plastic, adhesive resin could be recommended to be used as a binder in the plastic industry. The world adhesive resin market is anticipated to grow rapidly while riding on broad commercial applications in the foreseeable future.
The swelling demand for bio-based adhesive is foretold to augur well for the rise of the international adhesive resin market. Bio-based adhesive could be highly demanded due to growing awareness of the advantages of using ecofriendly materials. This is expected to reduce environmental concerns of end-use industries. In most instances, the assembly of automotive and aircraft bodies involves the usage of specially engineered adhesive resin. Owing to its enhanced functionalities related to mechanical strength and corrosion protection, epoxy resin is envisaged to secure a larger share of the market in the near future.
Regionally, Asia Pacific is prophesied to hold a handsome share of the international adhesive resin market due to the increase in demand in leading countries such as India, South Korea, Japan, and China. Consumer goods, packaging, construction, and automotive are some of the prominent end-use industries supporting the growth of the regional market in Asia Pacific. Another factor that could improve market growth in this region is the advancement of budding technologies. Besides the emerging region, Europe and North America are projected to set the tone for valuable growth in the global market. This could be owing to the advantage of improved economies in these regions.
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The Middle East and Africa is forecast to build up a developing market for adhesive resin due to its improving economy. Some of the important names of the international adhesive resin market are Exxon Mobil Corporation, L.D. Davis Industries, Inc., and E. I. du Pont de Nemours and Company.