The US market for synthetic resin and rubber adhesives showed a steady growth from 2013 to 2019, with annual changes predominantly in the low single-digit percentages. The market experienced a significant dip in 2020, likely impacted by the global economic slowdown. However, it rebounded robustly in 2021 with a 16.56% year-on-year increase.
The market stood at 9.0651 Billion USD in 2023. Over the past five years up to 2023, the Compound Annual Growth Rate (CAGR) was 1.84%. The forecasted period from 2024 to 2028 anticipates moderate growth, with a forecast 5-year CAGR of 1.34% and an overall growth rate of 6.87%.
Future trends to watch for include increased demand for eco-friendly adhesives, advancements in adhesive technology, and potential impacts of global economic conditions on market growth.
