Market Insights
The polyurethane adhesives market was estimated at USD 8.45 billion in 2023 and is likely to grow at a CAGR of 5.14% during 2024-2030 to reach USD 12.04 billion in 2030.
Market Dynamics
Introduction
Polyurethane adhesives are versatile bonding agents widely used across industries for their excellent strength, flexibility, and durability. They are formed by reacting polyols with isocyanates, creating adhesives that bond a wide range of materials, including wood, metal, plastics, glass, and composites. Known for their resistance to moisture, chemicals, and temperature variations, polyurethane adhesives are ideal for applications in construction, automotive, aerospace, and footwear industries. They are available in one-component and two-component formulations, catering to diverse requirements such as fast curing, high elasticity, or rigid bonding. Their ability to provide strong, long-lasting bonds makes them essential in demanding applications.
Market Drivers
One distinction is that polyurethane sealants and adhesives are natural and organic, while silicone sealants and adhesives are inorganic. Because of their organic makeup, polyurethane sealants are not as long-lasting as other premium silicone sealants. Polyurethane sealant is one type of sealant that possesses single-component elastomeric properties and a propensity to dry at room temperature and humidity. North America and Europe will see a steady increase in housing and construction activity over the next five years.
Despite a notable downturn over the past two to three years, it is expected that China's construction industry will grow faster than that of Europe or North America. In countries like South America, Southeast Asia, and India, construction levels are increasing to keep up with the rising rates of urbanization caused by people relocating from rural to urban regions in search of better incomes.
Infrastructure investment will lead to an increase in construction activities. Governments all across the world continue to encourage large infrastructure expenditures in order to boost their economies' productive potential and help the post-Covid economic recovery. The need for polyurethane sealants will increase as construction activity increases.
Key Players
The following are the key players in the polyurethane adhesives market:
Note: The above list does not necessarily include all the top players in the market.
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Segment Analysis
By Technology Type
"Solvent-borne segment is estimated to be dominant during the forecast period"
The market is segmented as solvent-borne, 100% solids, dispersion, and others. The solvent-borne segment is estimated to be dominant during the forecast period, owing to the presence of hydroxyl terminated polyurethane with a high molecular weight. It is easily available in grades and is suitable for different industrial and construction applications. On the other hand, dispersion is expected to grow at the fastest pace during the forecast period.
By Resin Type
"Thermoset segment is expected to dominate the market during the forecast period"
The market is segmented as thermoset and thermoplastic. The thermoset segment is expected to dominate the market during the forecast period. The increasing use of thermoset resins is likely to drive the growth of the segment during the forecast period.
By End-Use Industry Type
"Automotive & transportation segment is estimated to account for the major share of the market during the forecast period"
The market is segmented as automotive & transportation, building & construction, packaging, footwear, industrial, furniture & decoration, and others. The automotive & transportation segment is estimated to account for the major share of the market during the forecast period. Material is the key component of automobile interiors and it covers an exhaustive list of applications, such as tail molding, roof panels, interior trims, front molding, deck assembly, and sidewall assembly. In addition, polyurethane adhesives are fast replacing conventional fastening technologies to gain robust assembly.
Regional Analysis
"Asia-Pacific is estimated to dominate the market for polyurethane adhesives during the forecast period"
Asia-Pacific is estimated to dominate the market for polyurethane adhesives during the forecast period. The growth of the region’s market is driven by high demand for polyurethane adhesives from automotive & transportation and packaging industries along with the improving economic conditions in the emerging economies. China, India, Japan, Thailand, and South Korea are the growth engines of the Asia-Pacific region. North America and Europe are also likely to offer considerable growth opportunities during the forecast period
Research Methodology
- This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s polyurethane adhesives market realities and future market possibilities for the forecast period.
- The report segments and analyzes the market in the most detailed manner to provide a panoramic view of the market.
- The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
- This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
- More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
- We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
Report Features
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:
- Market structure: Overview, industry life cycle analysis, supply chain analysis.
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
- Market trend and forecast analysis.
- Market segment trend and forecast.
- Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
- COVID-19 impact and its recovery curve
- Attractive market segments and associated growth opportunities.
- Emerging trends.
- Strategic growth opportunities for the existing and new players.
- Key success factors.
Market Segmentation
This report studies the market covering 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.
The polyurethane adhesives market is segmented into the following categories.
By Technology Type
- Solvent-borne
- 100% Solids
- Dispersion
- Others
By Resin Type
By End-Use Industry Type
- Automotive & Transportation
- Building & Construction
- Packaging
- Footwear
- Industrial
- Furniture & Decoration
- Others
By Region
- North America (Country Analysis: the USA, Canada, and Mexico)
- Europe (Country Analysis: Germany, France, the UK, Russia, and Rest of Europe)
- Asia-Pacific (Country Analysis: China, Japan, India, and Rest of Asia-Pacific)
- Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)
Customization Options
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
- Detailed profiling of additional market players (up to three players)
- SWOT analysis of key players (up to three players)
Competitive Benchmarking
- Benchmarking of key players on the following parameters: product portfolio, geographical reach, regional presence, and strategic alliances
Custom Research: Stratview research offers custom research services across the sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@Stratviewresearch.com
