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CHEMICALS AND ADVANCED MATERIALS

Polyurethane Adhesives Market Segmentation by Technology (Solvent-borne, Solids, Dispersion, and Others); by Type (Thermoset, and Thermoplastic); and by Application (Automotive & Transportation, Footwear, Building & Construction, Furniture, and Others) – Global Demand Analysis & Opportunity Outlook 2030

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Extensive insights into the Growth of Polyurethane Adhesives Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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IN THE NEWS

·    August, 2021: Arkema announced the acquisition of Ashland Performance Adhesives, a leader in high performance adhesives for industrial applications, to boost its portfolio in the United States adhesive and sealant market.

·    September, 2020: Toyochem Co., Ltd., launched a new Cyabine series of ultra-high solids polyurethane pressure-sensitive adhesives (PSAs). The solvent and volatile content of this adhesive is reduced to minimal limit.

Global Polyurethane Adhesives Market Highlights over 2022 – 2030

The global polyurethane adhesives market is estimated to grow at a CAGR of ~6% over the forecast period, i.e., 2022 – 2030. The growth of the market can be attributed to the increasing application of synthetic adhesive amongst various end-user industries, such as, construction, automotive, furniture, and others. Polyurethane adhesives contain replicas of organic urethane chains, making it strong and resistant to degradation. The multi-purpose applications of polyurethane adhesives, waterproof properties, and strong bond, are estimated to boost the market growth. Moreover, these adhesives absorb heat energy, which causes a chemical reaction, resulting in the formation of bond between two surfaces. The increasing demand for automotive parts, and use of polyurethane adhesives in the automotive industry, is anticipated to boost the market growth. In 2020, more than 75 million automobiles were manufactured, and around 65 million vehicles were sold worldwide. The growing application of synthetic adhesives for making furniture is further expected to boost the market growth.

Polyurethane Adhesives Market

The market is bifurcated by type into thermoset and thermoplastics, out of which, the thermoplastics segment is anticipated to hold the largest share in the global polyurethane adhesives market over the forecast period owing to the ability to melt the adhesive in order to form a bond, which increases the range of application of the adhesive. Moreover, thermoplastic polyurethane adhesives or TPU acts as a bridge between rubber and plastics, as it is smooth, flexible, and durable. Such beneficial features of TPU are estimated to boost the segment growth. CLICK TO DOWNLOAD SAMPLE REPORT

Major Macro-Economic Indicators Impacting the Market Growth

Refinery

The chemical industry is a major component of the economy. According to the U.S. Bureau of Economic Analysis, in 2020, for the U.S., the value added by chemical products as a percentage of GDP was around 1.9%. Additionally, according to the World Bank, Chemical industry in the U.S. accounted for 16.43% to manufacturing value-added in 2018. With the growing demand from end-users, the market for chemical products is expected to grow in future. According to UNEP (United Nations Environment Programme), the sales of chemicals are projected to almost double from 2017 to 2030. In the current scenario, Asia Pacific is the largest chemical producing and consuming region. China has the world’s largest chemical industry, that accounted for annual sales of approximately more than USD 1.5 trillion, or about more than one-third of global sales, in recent years. Additionally, a vast consumer base and favourable government policies have boosted investment in China’s chemical industry. Easy availability of low-cost raw material & labour as well as government subsidies and relaxed environmental norms have served as a production base for key vendors globally. On the other hand, according to the FICCI (Federation of Indian Chambers of Commerce & Industry), the chemical industry in India was valued at 163 billion in 2019 and it contributed 3.4% to the global chemical industry. It ranks 6th in global chemical production. This statistic shows the lucrative opportunity for the investment in businesses in Asia Pacific countries in the upcoming years.

Global Polyurethane Adhesives Market Regional Synopsis

On the basis of geographical analysis, the global polyurethane adhesives market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in the Asia Pacific region is estimated to witness noteworthy growth over the forecast period on the back of increasing demand for adhesive amongst the growing construction, and furniture industries, in the region. Besides this, the growth in the automotive manufacturing industry, in countries, such as, China, Japan, India, and Malaysia, is also estimated to boost the market growth.

The market in the North America region is anticipated to gain the largest market share throughout the forecast period on the back of presence of major automotive manufacturers in the developed countries, along with growth in the construction sector. According to the data by Organization Internationale des Constructeurs d'Automobiles (OICA), also known as, International Organization of Motor Vehicle Manufacturers, 3,033,216 cars and 8,156,769 commercial vehicles were manufactured in the U.S. in 2017.

Polyurethane Adhesives Market

The global polyurethane adhesives market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis

Market Segmentation

Our in-depth analysis of the global polyurethane adhesives market includes the following segments:

By Technology

  • Solvent-borne
  • Solids
  • Dispersion
  • Others

By Type

  • Thermoset
  • Thermoplastic

By Application

  • Automotive & Transportation
  • Footwear
  • Building & Construction
  • Furniture
  • Others

Growth Drivers

  • Increasing Application of Polyurethane Adhesives 
  • Growing Automotive and Construction Industries

Challenges

  • High Competition from Epoxy Adhesives
  • Disrupted Supply-Chain due to Covid-19 Pandemic

Top Featured Companies Dominating the Market

  • The 3M Company
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • H.B. Fuller Company
  • Henkel AG & Co. KGaA
  • Arkema group
  • Sika AG
  • Toyochem Co., Ltd.
  • Lonza Group AG
  • Akzo Nobel N.V.
  • Wacker Chemie AG
  • Royal Adhesives & Sealants, LLC

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