The global polyurethane adhesives market size is anticipated to reach around US$ 11,600 Mn by 2027 and expected to grow at a CAGR of around 6% in terms of revenue during the forecast period 2020 – 2027.
Polyurethane adhesives are also known as elastic adhesives, are the Polymers produced by the polyol and isocyanate reactions which consist of the linear chain units of carbamate or urethane links. Weather-resistant PU adhesives are normally suitable for outdoor projects. They can be used as stickers to offer long-lasting and high strength bonding to different end-use industries.
Increasing building and construction activities across the world is the major driver flourishing the growth of polyurethane adhesives market. In recent years, demand has significantly increased for polyurethane adhesives from end-use industries including clothing, automobile, building & renovation, packaging and electronics. In India, China, and Brazil, the construction and manufacturing sector is growing significantly, boosting demand for polyurethane adhesives. Rising government expenditure on construction and increasing companies is expected in these countries to fuel demand over the next few years for polyurethane adhesive products. The growing demand for polyurethane adhesives in the automotive manufacturing sector has propelled the growth of passenger or commercial vehicles with an increasing demand for lightweight components.
Solvent-borne - The Technology Dominating the Polyurethane Adhesives Market
Solvent-borne adhesives perform well in the bond, are more flexible and can be designed to fit with a wider variety of substrates. As these adhesives are made with organic solvents, they are less sensitive than other adhesives to contaminants (such as grease and oil on the substrate being bound). Such adhesives contain, however, considerable quantities of hazardous organic (VOC) compounds that are typically irritant and subject to world-wide regulations, especially in the United States and Europe. Nevertheless, they are commonly used by different end-user industries because of their superior adhesion properties.
The market research study on “Polyurethane Adhesives Market (By Resin Type: Thermoset, Thermoplastic; By Technology: Solvent-borne, 100% solids, Dispersion, Others (Hot melt and Radiation cure); By End-Use: Automotive & Transportation, Building & Construction, Packaging, Footwear, Industrial, Furniture & Decoration, Others (Book binding, Medical, Apparels, Fiber processing, and Paper converting)) - Global Industry , Analysis, Market Size, Opportunities and Forecast, 2020 - 2027” offers detailed insights on the global polyurethane adhesives market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report also provides competitive landscape to understand the current stance of particular player. The report provides insights on global polyurethane adhesives market are offering resin type, technology, end-use and major geographic regions. The polyurethane adhesives market analysis is provided for major regional markets including North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. For each region, the market size for different segments has been covered under the scope of report.
Asia Pacific hold significant market share of global polyurethane adhesives market and is projected to propel the growth of the market during forecast period due to increasing demand of polyurethane adhesives from building and renovation activities, automotive sectors, and transportation. It is expected that Asia Pacific will attain the fastest revenue growth. This is attributed to increasing demand in the countries of the region from the telecommunications and the electrical and industrial sectors. Europe, led by the UK, France and Germany, is likely to show significant growth during the forecast period. Major automotive players such as Mercedes, BMW and Audi are located in Europe, and the market for regional goods is expected to be high. The PU adhesives market size is driving rapid industrialization and economic development, combined with stringent policy regulations. Middle East is one of the world's most fast-growing construction markets with growth led mainly by countries like Saudi Arabia and UAE. The polyurethane adhesives demand in the area is expected to support this optimistic outlook until 2027.
Major players included in this report BASF AG, 3M, Arkema S.A., Avery Dennison Corporation, The Dow Chemical Company, Ashland Inc., Henkel AG & Co. KGaA, H.B. Fuller, Huntsman Corporation, Scott Bader Company Ltd., Illinois Tool Works Inc., Sika AG, and others.
The global polyurethane adhesives market is segmented as below:
Polyurethane Adhesives Market By Resin Type
Polyurethane Adhesives Market By Technology
Polyurethane Adhesives Market By End-Use
Polyurethane Adhesives Market By Geography
Middle East & Africa
Polyurethane adhesives are also known as elastic adhesives, are the Polymers produced by the polyol and isocyanate reactions which consist of the linear chain units of carbamate or urethane links.
High cost of product is a major factor expected to restraint the growth of the market.
Increasing adoption for polyurethane adhesives across various end-use industries including building and construction and automobile and transportation is the major drivers for the growth of the polyurethane adhesives market.
According to Acumen Research and Consulting, the market value of polyurethane adhesives is anticipated to be worth around US$ 11,600 Mn in 2027.
Polyurethane adhesives market is anticipated to grow around 6% CAGR amid the forecast period 2020-2027
Asia Pacific held maximum share in 2019 for polyurethane adhesives market.
Major players included in polyurethane adhesives market report are BASF AG, 3M, Arkema S.A., Avery Dennison Corporation, The Dow Chemical Company, Ashland Inc., Henkel AG & Co. KGaA, H.B. Fuller, Huntsman Corporation, Scott Bader Company Ltd., Illinois Tool Works Inc., Sika AG, and others.