CHICAGO, Dec. 7, 2021 /PRNewswire/ -- In-depth analysis and data-driven insights on the impact of COVID-19 included in this global polyurethane adhesives market report.
The polyurethane adhesives market is expected to grow at a CAGR of over 6.14% during the period 2021-2027.
Key Highlights Offered in the Report:
- The major drivers of the polyurethane adhesive market include the growth in the automotive, construction, aerospace, footwear, DIY, packaging, and wind turbine industries.
- Increasing demand for chemical resistant adhesives and stricter government regulations on low VOC emissions have boosted the demand for polyurethane adhesives.
- Growth in the construction industry and increase in automotive production has positively impacted the adoption of polyurethane adhesives. To capitalize business opportunities in APAC region, chemical companies are exploring partnerships/mergers with oleochemicals companies or planning to forward/backward integration themselves.
- APAC is the leading market for polyurethane adhesives, and it held over 35% market share in 2021. The market is expected to grow at a 6% CAGR from 2021-2027. The growth in the region is associated with the increasing demand from industries. The automotive, construction, footwear, and packaging industries are expected to drive the market for polyurethane adhesives.
- The packaging industry has been a steady volume and value generator for polyurethane adhesive manufacturers, especially for hot-melt polyurethane adhesives. A focus on gaining higher foothold in the industry is recommended. Companies must focus on formulating adhesive technologies for flexible packaging, food and beverage packaging, e-commerce packaging, and personal hygiene products packaging.
Key Offerings:
- Market Size & Forecast by Revenue | 2021-2027
- Market Dynamics - Leading trends, growth drivers, restraints, and investment opportunities
- Market Segmentation - A detailed analysis by component, resin type, distribution channel, application, technology, and geography
- Competitive Landscape - 5 key vendors and 20 other vendors
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Polyurethane Adhesive Market - Segmentation
- Blocked isocyanate is used in one-part polyurethane adhesives to create a storage-stable one-pack formulation containing polyol. Isocyanates are de-blocked when the adhesive is applied to the substrate and during stoving at a high temperature. It then combines with the polyol to produce polyurethane adhesives.
- The thermoset polyurethane adhesive market will grow consequently with the construction and electronics industries as these two industries have wide usage of thermoset polyurethane adhesives. Thermosetting hot-melt polyurethane adhesive initially has a low bonding strength. However, with time it gets cured due to the moisture present in the environment. In thermosetting polyurethane adhesives, the crosslinking process requires a minimal amount of moisture.
- Various polyurethane adhesive manufacturers are taking initiatives and investing in building their presence online and expanding their customer and geographic reach. Most prominent vendors such as 3M, Sika, H.B. Fuller, and Arkema have started selling polyurethane adhesives online, mentioning all specifications and their applications on different substrates.
Polyurethane Adhesive Market by Components
- One Part
- Two Part
Polyurethane Adhesive Market by Resin Type
- Thermoset
- Thermoplastic
Polyurethane Adhesive Market by Distribution Channel
- Offline
- Online
Polyurethane Adhesive Market by Application
- Automobile Industry
- Building & Construction
- Packaging
- Footwear
- DIY
- Aerospace
- Wind Turbine
- Others
Polyurethane Adhesive Market by Technology
- Solvent-Based
- Water-Based
- Hot-Melt
- Pressure-Sensitive
- Others
Polyurethane Adhesive Market - Dynamics
Manufacturers are moving towards bio-based coatings, sealants, and adhesives for better durability and reducing dependency on scarce raw materials. Bio-based raw materials not only reduce the carbon footprint of the product but also improve the performance and versatility of the product. Polyurethane adhesives are derived from isocyanates and polyols. Typical polyols include polyester (such as adipate esters) or polyether (such as PTMEG). The properties of adhesives are highly reliant on the nature of the polyol used. Polyether polyurethane adhesive is vulnerable to UV radiation and polyester polyurethane adhesives are suspectable to hydrolysis. Bio-based priplast polyols are carbon polyols that are highly renewable and hydrophobic. These polyols are used extensively in moisture-curing adhesive, hot-melts, and thermoplastic polyurethane adhesives.
Key Drivers and Trends fueling Market Growth:
- Increasing Relevance of Electrically Conductive Polyurethane Adhesives
- Increasing Use of Polyurethane Adhesive Derived from Castor Oil
- Growing Use of Pressure-sensitive Adhesives
- Increasing Use of Hot-Melt Adhesives
Polyurethane Adhesive Market - Geography
The construction, automobile, and packaging industries are the major market growth drivers in the APAC region. China has been the leading market in APAC, followed by Japan. The healthy growth of industries such as construction, packaging, automotive, and healthcare in these countries has propelled the growth of the regional adhesives and sealants market. The rising population and disposable income in China, India, and Indonesia have fueled residential housing growth in the APAC region, further fueling the demand for polyurethane adhesives in the construction industry. After the outbreak of the COVID-19 pandemic, the e-commerce packaging market witnessed significant growth as many shops closed due to lockdown and traveling restrictions. During this period, internet shopping portals witnessed growth in sales of medicines and other healthcare items and food and beverage products.
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Polyurethane Adhesive Market by Geography
APAC
- China
- India
- Japan
- Indonesia
- South Korea
Europe
- Germany
- UK
- France
- Italy
- Russia
North America
- US
- Canada
Latin America
- Brazil
- Mexico
Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
Key Vendors
- 3M
- Arkema
- Avery Dennison
- B. Fuller
- Henkel
Other Prominent Vendors
- Beardow Adams
- DOW
- Dymax
- Franklin International
- Huntsman
- ITW Performance Polymers
- Jowat
- Pidilite Industries
- Sika
- Wacker Chemie AG
- Delo
- Eastman
- Berry Global
- Masterbond
- Permabond
- Parson Adhesive
- Mapei
- Anabond
- Lintec
- Scott Bader
Explore our chemicals & materials profile to know more about the industry.
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