Polyurethane Adhesives Market by Resin Type (Thermoset & Thermoplastic), Technology (Solvent-borne, 100% solids, Dispersion), End-use Industry (Automotive, Construction, Packaging, Footwear, Industrial, and Furniture), Region - Global Forecast to 2024
The PU adhesives market is projected to register a CAGR of 5.6%, in terms of value, between 2019 and 2024.
The PU adhesives market is projected to grow from USD 7.0 billion in 2019 to USD 9.1 billion by 2024, at a CAGR of 5.6%, between 2019 and 2024. The growth of end-use industries, such as building & construction, automotive & transportation, and packaging is driving the PU adhesives market. However, exposure risks and environmental concerns are expected to hamper the growth of the market.
The dispersion technology is estimated to be the fastest-growing segment of the overall PU adhesives market during the forecast period.
PU dispersions are viable alternatives to the conventional solvent-borne adhesives. Owing to the increasing governmental and environmental legislation to reduce the VOC emissions, the end users are rapidly moving from solvent-borne adhesives to PU-dispersion adhesives. The PU dispersions adhere to several environmental regulations, such as ecolabels—M1, Blue Angel, and EMICODE.
The PU adhesives market in the automotive & transportation end-use industry is expected to witness the highest CAGR during the forecast period.
PU adhesives cater to glazing applications for automotive, rail, and marine industries, among others. Along with the window glass, PU-based elastic adhesives cover a long list of applications, such as tail molding, interior trims, roof panels, luggage compartment floor, front molding, sidewall assembly, and deck assembly. This has aided vehicle manufacturers to use all types of lightweight materials without compromising on safety, functionality, or comfort. Adhesives continue to be an alternative to conventional fastening technologies to achieve robust assembly.
APAC PU adhesives market is projected to register the highest CAGR during the forecast period.
The APAC PU adhesives market is segmented into China, Japan, India, Indonesia, and Rest of APAC. The APAC region is a lucrative market for PU adhesives, owing to the increasing demand from packaging industries and improving economic conditions. Product innovations, new research and development projects, and increasing demand from various end-use industries have also fueled the demand for PU adhesives in APAC.
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the PU adhesives market, and information was gathered from secondary research to determine and verify the market size of several segments and sub-segments.
By Company Type: Tier 1 – 46%, Tier 2 – 27%, and Tier 3 – 27%
By Designation: C Level – 37%, D Level – 36%, and Others – 27%
By Region: APAC – 37%, North America – 18%, Europe – 27%, South America- 9%, and the Middle East & Africa – 9%
The key companies profiled in this report are the Henkel AG & CO. KGAA (Germany), H.B. Fuller Company (US), 3M Company (US), Arkema S.A. (France), and Sika AG (Switzerland).
This report provides detailed segmentation of the PU adhesives market based on, resin type, technology, end-use industry, and region. Based on resin type, the PU adhesives market has been segmented into thermoset and thermoplastic. Based on technology, the market has been segmented into solvent-borne, 100% solids, and dispersion. Based on end-use industry, the market has been segmented into automotive & transportation, building & construction, packaging, footwear, industrial, and furniture & decoration. Based on region, the market has been segmented into APAC, Europe, North America, South America, and the Middle East & Africa.
Key Benefits of Buying the Report
From an insight perspective, this research report focuses on various levels of analyses — industry analysis (industry trends), market share analysis of top players, and company profiles, which together comprise and discuss the basic views on the competitive landscape; emerging and high-growth segments of the market; high growth regions; and market drivers, restraints, opportunities, and challenges.
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