Polyurethane Adhesives Market by Product Type (Thermoplastic, Thermoset), Technology (100% Solids, Dispersion, Solvent-Borne), Class, Type, End-Use Industry - Global Forecast 2024-2030

Polyurethane Adhesives Market by Product Type (Thermoplastic, Thermoset), Technology (100% Solids, Dispersion, Solvent-Borne), Class, Type, End-Use Industry - Global Forecast 2024-2030

The Polyurethane Adhesives Market size was estimated at USD 9.66 billion in 2023 and expected to reach USD 10.26 billion in 2024, at a CAGR 6.46% to reach USD 14.98 billion by 2030.

Polyurethane adhesives provide a suitable blend of cohesive strength and flexibility, making them tough and durable. Polyurethane adhesives offer unique characteristics due to the vivid variation in their physical properties that can be achieved by modifying their formulation. The significant growth in the building & construction industry and increasing government expenditure on construction and renovation activities boost the demand for polyurethane adhesives. Manufacturers prefer polyurethane adhesives due to their superior performance, improved product life, and reliability. However, the fluctuating cost of petrochemical-based raw materials and performance issues significantly impede the use of PU adhesives. In addition, advancements and the launch of improved polyurethane adhesives contribute to the development of polyurethane adhesives.

Regional Insights

In North America, the rising demand for consumer packaged goods, abundant availability of raw materials, surging demand for electrical and electronics, and the increasing disposable income significantly increase the utilization of polyurethane adhesives. In the U.S., the significant growth of various end-use industries, especially the expansion of the building & construction industry, enhances the utilization of polyurethane adhesives. The rapid growth in the building & construction industry of India, China, and Brazil, increasing government expenditure on construction and renovation activities, and a growing economy boost the demand for polyurethane adhesives. The characteristics of polyurethanes, such as chemical resistance, flame retardant properties, and low smoke emission levels, drive the need for these products across Asia-Pacific. Furthermore, the application of polyurethane adhesives is increasing in building & construction, packaging, automobile, aerospace, electrical & electronics, and locomotives, especially in the Asia-Pacific and Middle East regions.

Market Insights

• Market Dynamics
  
  The market dynamics represent an ever-changing landscape of the Polyurethane Adhesives Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.
  • Market Drivers
    • Significant investments in building & construction activities and an increasing number of renovation and remodeling activities
    • Rising demand from the electronics & automotive industry owing to performance efficiency and physical characteristics
    • Market Restraints
      • Fluctuating cost of petrochemical-based raw materials used in PU adhesive
      • Market Opportunities
        • Recent advancements and the launch of improved polyurethane adhesives
        • Emerging application of polyurethane adhesives in solar panels
        • Market Challenges
          • Moisture sensitivity and performance issues associated with the use of PU adhesives
          • Market Segmentation Analysis
            • Product Type: Wide use of polyurethane adhesives in construction materials and heavy-duty equipment assembly
            • Technology: Higher adoption of dispersion polyurethane adhesives in packaging industries that offer high durability and flexibility
            • Class: Expanding preference of reactive polyurethane adhesives for structural bonding applications
            • Type: Growing potential of two-component polyurethane adhesives for demanding structural applications
            • End-Use Industry: Increasing usage of polyurethane adhesives in electronics and industrial applications due to their high thermal stability
            • Market Disruption Analysis
            • Porter’s Five Forces Analysis
            • Value Chain & Critical Path Analysis
            • Pricing Analysis
            • Technology Analysis
            • Patent Analysis
            • Trade Analysis
            • Regulatory Framework Analysis
            FPNV Positioning Matrix
            
            The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Polyurethane Adhesives Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
            
            Market Share Analysis
            
            The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Polyurethane Adhesives Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
            
            Recent Developments
            • Henkel enables sustainable transformation: First bio-based PUR-Adhesives for load-bearing timber construction
              
              Henkel AG & Co. KGaA introduced a bio-based polyurethane (PUR) adhesive for load-bearing timber construction. The innovative Loctite HB S ECO and Loctite CR 821 ECO, with 63% and 71% bio-based content, respectively, mark a significant reduction in CO2eq emissions by over 60% compared to traditional fossil-based options.
              
              COIM Acquires Spanish Reactive Hot-melt PU Adhesives Manufacturer
              
              COIM acquired Neoflex SL, a Spanish company renowned for its innovative polyurethane adhesive solution, to solidify its position in the adhesives market. This acquisition marks a significant expansion for COIM in various industrial sectors ranging from furniture and construction to textiles and automotive, owing to Neoflex's expertise in both one- and two-component and reactive hot-melt polyurethane adhesives.
              
              SI Group Launches Curative for PU & Epoxy Adhesives at FEICA 2023
              
              SI Group has introduced REZICURE PRO 2210, a high-performance multi-functional curative for polyurethane and epoxy adhesives, at the FEICA European Adhesive & Sealant Conference and Expo in Tarragona, Spain. This curative offers several properties that enhance the performance of polyurethanes and polyurea, including a longer operating window, stronger adhesion to metal substrates, and low viscosity for easy handling and processing. Moreover, it can increase bond strength while reducing the amount of curative required, surpassing other industry benchmark curatives for polyurethane and epoxy adhesives.
            Strategy Analysis & Recommendation
            
            The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Polyurethane Adhesives Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.
            
            Key Company Profiles
            
            The report delves into recent significant developments in the Polyurethane Adhesives Market, highlighting leading vendors and their innovative profiles. These include 3M Company, Adhesives Research, Inc., Akzo Nobel N.V., American Biltrite Inc., American Polyfilm, Inc., Anglo Adhesives & Services Ltd., Anhui Anda Huatai New Materials Co., Ltd., Arkema Group, Ashland Inc., Astra Chemtech Pvt.Ltd., Avery Dennison Corporation, BASF SE, Beijing Gaomeng New Materials Co., Ltd., C.O.I.M. S.p.A., Chemence Inc., Chemique Adhesives and Sealants Ltd., DuPont de Nemours, Inc., Fixon Chemical, Fortis Adhesives & Coatings Pty Ltd., Franklin International, Guangzhou Yourun Synthetic Material Co., Ltd., H.B. Fuller Company, Handley Industries, Henkel AG & Co. KGaA, Huntsman International LLC, Illinois Tool Works Inc., Intertronics, Jowat SE, LANXESS AG, Master Bond Inc., Mitsui Chemicals, Inc., Parker-Hannifin Corporation, Parson Adhesives, Inc., Permabond LLC, Pidilite Industries Limited, RLA Polymers Pty Ltd. by DGL GROUP LIMITED, RPM International Inc., RUSTA LLC, Sabre Adhesives Ltd., Scott Bader Company Limited, Shandong INOV Polyurethane Co., Ltd., Sika AG, Soudal Holding N.V., Sunstar Group, The Dow Chemical Company, Toyo Ink SC Holdings Co., Ltd., Uroxsys Ltd., Wacker Chemie AG, WEICON GmbH & Co. KG, and Yansefu Inks and Coatings Pvt. Ltd.
            
            Market Segmentation & Coverage
            
            This research report categorizes the Polyurethane Adhesives Market to forecast the revenues and analyze trends in each of the following sub-markets:
            • Product Type
              • Thermoplastic
              • Thermoset
              • Technology
                • 100% Solids
                • Dispersion
                • Solvent-Borne
                • Class
                  • Non-reactive
                  • Reactive
                  • Type
                    • One-component
                    • Two-component
                    • End-Use Industry
                      • Automotive & Transportation
                      • Building & Construction
                      • Electronics & Industrial
                      • Footwear
                      • Furniture & Decoration
                      • Packaging
                      • Region
                        • Americas
                          • Argentina
                          • Brazil
                          • Canada
                          • Mexico
                          • United States
                            • California
                            • Florida
                            • Illinois
                            • New York
                            • Ohio
                            • Pennsylvania
                            • Texas
                            • Asia-Pacific
                              • Australia
                              • China
                              • India
                              • Indonesia
                              • Japan
                              • Malaysia
                              • Philippines
                              • Singapore
                              • South Korea
                              • Taiwan
                              • Thailand
                              • Vietnam
                              • Europe, Middle East & Africa
                                • Denmark
                                • Egypt
                                • Finland
                                • France
                                • Germany
                                • Israel
                                • Italy
                                • Netherlands
                                • Nigeria
                                • Norway
                                • Poland
                                • Qatar
                                • Russia
                                • Saudi Arabia
                                • South Africa
                                • Spain
                                • Sweden
                                • Switzerland
                                • Turkey
                                • United Arab Emirates
                                • United Kingdom
                                
                                
                                Please Note: PDF & Excel + Online Access - 1 Year