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Polyurethane Adhesives Market (Type - Thermoset, and Thermoplastic; Technology - Solvent-borne, Reactive, Dispersion, Hot-melt, and Others; Application - Building & Construction, Automotive, Packaging, Footwear, Electrical and Electronics, and Others): Global Industry Analysis, Trends, Size, Share and Forecasts to 2026

  • Published : February, 2021

  • Rep Id : CM00845

  • Category : Chemicals & Materials

  • Status : Published

A recent report published by Infinium Global Research on polyurethane adhesives market provides in-depth analysis of segments and sub-segments in the global as well as regional polyurethane adhesives market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional polyurethane adhesives market over the short term as well as long term. The report is a comprehensive presentation of trends, forecasts, and dollar values of global polyurethane adhesives market. According to the report, the global polyurethane adhesives market is projected to grow at a CAGR of 6.5% over the forecast period of 2020-2026.

 

Market Insight

Polyurethane adhesives are a type of elastic glue that has an extraordinary elasticity and high fracture resistance. They deliver strong impact-resistant joints and have better low-temperature strength as compared to other adhesives. Polyurethane adhesives are cured fast and are often used with primers. One and two-component polyurethane adhesives are available commercially. Polyurethane adhesives are ideal for structural bonding of various porous and non-porous materials such as metal, glass, and plastics. They are used for materials that require high strength, impact resistance, and high peel strength. They are used in several end-use applications such as electronics & appliances, automotive, building & construction, footwear, and packaging.

 

The spread of COVID-19 has severely affected the polyurethane adhesives market across the globe. COVID-19 pandemic hampered the production and demand, disrupting the supply chain of polyurethane adhesives, and affected the market by its impact on firms and the financial markets. The demand for polyurethane adhesives has decreased from the end-users. The COVID19 pandemic has severely affected the revenue of end-user industries. Several end-users have stopped their production or closed their production unit. The shortage of raw materials is another major challenge faced by the industry during the pandemic. Furthermore, the lower production of polyurethane adhesives in countries including China, Taiwan, India, and Japan has created a shortage in the global market. Other countries dependent on the import are facing a severe shortage of polyurethane adhesives during the pandemic. The lower production and shortage of polyurethane adhesives in the market are estimated to hamper the market growth over a shorter period.

 

Polyurethane adhesives offer a high range of applications in numerous industries. The growth in end-use industries such as electronics, automotive, and construction industry primarily drives the growth of the polyurethane adhesives market. The increasing production of lightweight vehicles as improving fuel-efficiency and controlling emissions remains a top priority within the automotive and commercial vehicle industries is anticipated to boost the PU adhesives market. In addition, polyurethane adhesives are finding increasing uses within the building & construction industry due to their ability to bond with non-porous materials such as metal to wood, or mirrors to walls and have the ability to set in high moisture condition. Furthermore, the increasing demand for hot melt PU adhesives driven by the rapidly growing demand from the woodworking and automotive industries also drives the growth of the polyurethane adhesives market. However, the availability of substitutes such as Polyvinyl Acetate (PVA), epoxy, Ethylene-vinyl acetate (EVA), acrylic adhesives, and silicone adhesives hinders the growth of the PU adhesives market. Moreover, the use of PU adhesives in emerging applications such as in medical devices manufacturing and marine applications creates beneficial opportunities for the growth of the PU adhesives market.

 

Among the regions, Asia-Pacific holds the dominant share in the polyurethane adhesives market and is expected to lead the market over the forecast period to 2026. The Asia-pacific region offers a substantial potential for market growth owing to rapid growth in markets such as China, India, Japan, South Korea, Indonesia, Thailand, Malaysia, Singapore, Australia, and New Zealand. Growing investments in residential and green building projects in India are projected to further support the growth of the polyurethane adhesives market throughout the forecast period. Additionally, the presence of a large number of furniture, packaging, footwear, electrical & electronics manufacturers is likely to further surge the usage of PU adhesives in the coming years in India. North America holds the second-largest share in the global PU adhesives market. The growing influence of urbanization and continuous investment in the construction sector, automobile, and computer technology is augmenting the demand for polyurethane adhesive in North America.

 

Segment Covered

The report on global polyurethane adhesives market covers segments such as type, technology, and application. On the basis of type, the sub-markets include thermoset, and thermoplastic. On the basis of technology, the sub-markets include solvent-borne, reactive, dispersion, hot-melt, and others. On the basis of application, the sub-markets include building & construction, automotive, packaging, footwear, electrical and electronics, and others.

 

Companies Profiled:

The report provides profiles of the companies in the market such as Dow Chemical Company, 3M Company, Sika AG, H.B. Fuller, Arkema S.A., Henkel AG & Co. KGaA, Ashland Global Holdings Inc., Huntsman Corporation, Scott Bader Company Ltd., and Illinois Tool Works Inc.

 

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of polyurethane adhesives market. Moreover, the study highlights current market trends and provides forecast from 2020-2026. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.


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