Polyurethane Adhesives Market size is anticipated to surpass USD 22 Billion by the end of 2036, growing at a CAGR of 7% during the forecast period, i.e., 2024 – 2036. In the year 2023, the industry size of polyurethane adhesives was over USD 10 Billion. The market is expanding as a result of the characteristics of polyurethane adhesives, such as their strength and lightweight, which are widely utilized in the automotive industry to reduce the overall weight of cars and improve performance in terms of fuel efficiency and environmental sustainability. By 2030, emissions from autos can be cut by 40% thanks to lighter materials.
Polyurethane can be used as a substitute for plastic and other materials because of its benefits and characteristics. The polyurethane adhesives market is anticipated to expand over the forecast period as a result of the growing popularity of polyurethane adhesive. Additionally, polyurethane has a variety of end-use applications in the automotive, building, packaging, electrical and electronics, and other industries.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
~7% |
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Base Year Market Size(2023) |
~USD 10 billion |
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Forecast Year Market Size(2036) |
~USD 22 billion |
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Regional Scope |
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Application (Automotive, Transportation, Footwear, Building, Construction, Furniture)
The building & construction segment in the polyurethane adhesives market is expected to hold a share of 31% during the forecast period. There are reasons for this growth, namely rising demand for residential properties and the increased infrastructure spending by governments of different regions in the coming years which is consequently giving rise to such a market. In addition, the construction industry benefits from various properties of polyurethane adhesion. According to a report, half of the world's population will call for housing at roughly 97,000 dwellings per day.
Technology (Solvent-borne, Solids, Dispersion)
Polyurethane adhesives market from the solvent-borne segment is anticipated to hold a significant share of 52% during the forecast period. A high molecular weight hydroxyl-terminated polyurethane is dissolved in a solvent to form solvent-borne PU adhesives. The most common aromatic polyurethanes, such as toluene diisocyanates and diphenylmethane isocyanates, reduce both the properties of the adhesive and its appearance in a way similar to that of regular urethane adhesives.
Our in-depth analysis of the global market includes the following segments:
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Technology |
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Type |
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Application |
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North American Market Forecast
North America polyurethane adhesives market is expected to hold a share of 35% during the forecast period. The growth can be attributed to the presence of major automotive companies in advanced countries, which is also supported by increased construction activity. According to the data, 3,033,216 cars and 8,156,769 commercial vehicles were manufactured in the US in 2019. Because people in this area have increased their disposable income, they're demanding ownership of homes.
APAC Market Statistics
The polyurethane (PU) adhesives market in Asia Pacific is expected to hold a share of 26% during the forecast period. Due to increased demand for adhesives in the furniture sector, this market growth can be attributed. It is also expected that the consumption of polyurethane adhesives in these areas will rise over the forecast period due to an increased number of vehicle production and sales.
Author Credits: Smruti Ranjan, Rajrani Baghel
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