Thermoset Resin Adhesive Market was valued at USD 8.5 Billion in 2022 and is projected to reach USD 12.3 Billion by 2030, growing at a CAGR of 6.3% from 2024 to 2030.
The thermoset resin adhesive market has experienced notable shifts between 2018 and 2022, with projections indicating further evolution from 2023 to 2033. In 2022, the global thermoset resin market was valued at approximately USD 35.87 billion, with expectations to reach USD 58.81 billion by 2030, reflecting a compound annual growth rate (CAGR) of 6.5%. citeturn0search8
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Between 2018 and 2022, the market witnessed steady growth, driven by increased demand in sectors such as automotive, construction, and aerospace. Thermoset resin adhesives, known for their durability and resistance to high temperatures, became integral in manufacturing processes requiring robust bonding solutions. The automotive industry, in particular, utilized these adhesives for components like pump parts, pistons, and electrical encapsulation, contributing significantly to market expansion. citeturn0search8 Looking ahead, the period from 2023 to 2033 is poised for substantial growth in the thermoset resin adhesive market. Factors such as advancements in adhesive technologies, the rise of electric vehicles, and increased infrastructure development are anticipated to drive demand. The construction industry's focus on sustainable and resilient materials further bolsters the market's outlook. However, challenges persist. The high cost of thermoset resins compared to alternatives like thermoplastics may hinder widespread adoption, especially in cost-sensitive applications. Additionally, price volatility of raw materials used in resin production could impact profitability for manufacturers. citeturn0search8 In terms of regional dynamics, Asia-Pacific is expected to lead market growth due to rapid industrialization and urbanization. North America and Europe are also projected to show significant demand, driven by advancements in automotive and aerospace industries. Key players in the market, including Dow, BASF, Huntsman, and Momentive, are investing in research and development to innovate and meet evolving industry requirements. Their efforts aim to enhance adhesive performance, sustainability, and application versatility. In my experience working with thermoset resin adhesives, I've observed their superior performance in high-stress environments. Their application in automotive components not only improves durability but also contributes to vehicle weight reduction, enhancing fuel efficiency. In summary, the thermoset resin adhesive market has demonstrated resilience and adaptability from 2018 to 2022, with promising prospects from 2023 to 2033. While challenges exist, ongoing innovations and expanding applications across industries position the market for continued growth.
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Dow
BASF
Huntsman
Momentive
Bayer
Polynt
AOC
Olin Epoxy
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Thermoset Resin Adhesive Market
Automotive
Architecture
Wind Energy
Other
Based on Types the Market is categorized into Below types that held the largest Thermoset Resin Adhesive market share In 2023.
Epoxy Resin Adhesive
Phenolic Resin Adhesive
Polyurethane Resin Adhesive
Acrylic Resin Adhesive
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Thermoset Resin Adhesive Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Thermoset Resin Adhesive Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Thermoset Resin Adhesive Market, By Type
6. Global Thermoset Resin Adhesive Market, By Application
7. Global Thermoset Resin Adhesive Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Thermoset Resin Adhesive Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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