The global Polyurethane Adhesives market stood around 2300 thousand tonnes in 2022 and is expected to grow at a CAGR of 4.89% during the forecast period until 2035.
Polyurethane Adhesives are synthesized by polyols and isocyanate. Nowadays, a new technology is used to synthesize these adhesives using wood wastes as a starting material. It is a petroleum-based polymer primarily used as sealant and adhesive. These possess properties like high bond strength and water-resistance making them a suitable choice for construction purposes. Their other properties include good resistance to chemicals, weather conditions, good elasticity, abrasion resistance, and dielectric characteristics. The applications of Polyurethane Adhesives include woodwork, construction purposes, textiles as a binding agent, laminating agent, vehicle interiors, bond windshields, sealing fuel tanks, etc.
Due to its high bond strength, the primary market driving factor for the Polyurethane Adhesives market is the Construction industry. In 2022, the Construction industry consumed about 42% of the global Polyurethane Adhesives market and is anticipated to dominate the market. Furthermore, the demand from the automobile industry to produce light-weight vehicles also contributes to the global Polyurethane Adhesives market. Additionally, the demand of Polyurethane Adhesives for flexible packaging and electronics & electrical devices is anticipated to propel the global Polyurethane Adhesives market in the forecast period. The global demand for Polyurethane Adhesives is anticipated to reach approximately 4300 thousand tonnes by the year 2032.
Based on region, Asia Pacific is dominating across all the regions around the globe, followed by Europe. The Polyurethane Adhesives demand by Asia Pacific is mainly due to the construction and industrial applications in countries like China and India, where construction is occurring rapidly due to rapid urbanization. The growing need for polyurethane adhesives has been further contributed by the automotive industry's quick expansion as a result of the rise in the production of commercial and passenger vehicles and the growing preference for lightweight components in these regions. Based on production, Asia pacific region is leading as a producer. It is mainly due to high number of workers available in this area making the production of Polyurethane Adhesives cheaper in production. In 2022, Asia Pacific produced more than 30% of the global Polyurethane Adhesives.
Based on the end-user industry, the global Polyurethane Adhesives market is segmented into Construction, Automotive, Textile, Flexible packaging, DIY, and others. Construction industry holds the largest share of the Polyurethane Adhesives market. It is anticipated that this sector will grow in the forecast period. Furthermore, it is expected that the Automotive Sector, the second largest consumer of Polyurethane Adhesives global market. Polyurethanes are used frequently in the automobile sector because of their strength and low weight because doing so helps vehicles perform better in terms of fuel efficiency and environmental sustainability. Although, DIY is a booming industry and expected to face a surge in the forecast period.
Major producers in the production of Global Polyurethane Adhesives market are Henkel AG & Co.KGaA, Sika AG, Arkema Group (Bostik), Hunstsman International LLC., The Dow Chemical Company, H.B. Fuller, Jowat Adhesives, Shaanxi Yanchang Zhongmei Yulin Energy Chemical Co., Ltd, Wacker Chemie AG, Kazanorgsintez.
Years considered for this report:
Historical Period: 2015- 2021
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2024-2035
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Objective of the Study:
• To assess the demand-supply scenario of Polyurethane Adhesives which covers production, demand and supply of Polyurethane Adhesives market in the globe.
• To analyse and forecast the market size of Polyurethane Adhesives
• To classify and forecast Global Polyurethane Adhesives market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Polyurethane Adhesives market in the globe.
To extract data for Global Polyurethane Adhesives market, primary research surveys were conducted with Polyurethane Adhesives manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Global Polyurethane Adhesives market over the coming years.
ChemAnalyst calculated Polyurethane Adhesives demand in the globe by analyzing the historical data and demand forecast which was carried out considering the historical extraction and supply and demand of Polyurethane Adhesives across the globe. ChemAnalyst sourced these values from industry experts, and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Polyurethane Adhesives manufacturers and other stakeholders
• Organizations, forums and alliances related to Polyurethane Adhesives distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Polyurethane Adhesives manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Global Polyurethane Adhesives market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2022
2300 thousand tonnes
Market size Volume by 2035
4300 thousand tonnes
Growth Rate
CAGR of 4.84% from 2023 to 2035
Base year
2022
Estimated Year
2023
Historical Data
2015 – 2021
Forecast period
2024 – 2035
Quantitative units
Demand in thousand tonnes and CAGR from 2023 to 2035
Report coverage
Industry Market Size, Capacity By Company, Capacity by Location, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share.
Segments covered
By End-Use: (Construction, Automotive, Textile, Flexible packaging, DIY, and others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
North America, Europe, Asia Pacific, Middle East and Africa, and South America.
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Member - Board of Directors
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What are the major end-use industries utilizing Polyurethane Adhesives?
Ans:
Polyurethane Adhesives demand is majorly driven by the Construction, Automotive, Textile, Flexible packaging, and DIY, as the leading end-use industries.
Q2.
What is the expected market volume of the global Polyurethane Adhesives by 2035?
Ans:
It is expected that the market value of the global Polyurethane Adhesives will reach approximately 4300 thousand tonnes by 2035.
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