Asia-Pacific Polyurethane (PU) Adhesives Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Asia-Pacific Polyurethane (PU) Adhesives Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Asia-Pacific polyurethane (PU) adhesives market is expected to grow at a CAGR of more than 5% during the forecast period. The demand for PU adhesives is widely driven by the growth in construction activities and increased application in automotive and aerospace industry for producing lightweight vehicles and aircrafts. However, stringent VOC emission regulations may affect the growth of the studied market.

Key Highlights

• Amongst technology, solvent-based stands to be the largest segment as it is extensively preferred for numerous industrial and construction applications.
• However, innovation and development of bio-based adhesives and shifting focus toward adhesive bonding for composite materials are likely to offer opportunities for the PU adhesives market.
• China stands to be the largest market for PU adhesives in the region, with consumption being majorly driven by the growth in end-user industries, such as construction, packaging, electrical and electronics, aerospace, etc.

Key Market TrendsBuilding and Construction Segment Dominates the Market

• Among end-user industries, building and construction segment dominates the consumption of PU adhesives in the region.
• PU adhesives have rapid curing and low strength properties, making it an excellent choice for woodworking and other construction applications. They provide high strength required to hold construction materials together.
• Besides, this material is versatile, when it comes to product assembly adhesives. It suits plastics, glass, PVFs, aluminum, stainless steel, and other metals, regardless of the toughness of bond substrates.
• Hot-melt technology excels, when it comes to window sealants, gaskets, fabrics, and light metal applications. The ease of use and quick curing time of PU hot-melt adhesives have led to increased application for flooring, counter tops, and shower walls.
• In Asia-Pacific, countries, such as China, India, Indonesia, Vietnam and Thailand have been registering robust growth in construction activities, and this trend is likely to continue in the near future, which is likely to propel the consumption of PU adhesives in the region.

China to Dominate the Market Demand

• In terms of consumption, China stands to be the largest market for PU adhesives in the region.
• The country stands to be the world’s largest producer of automotive, electrical and electronics, and packaging. Besides, the country stands to be one of the major producers of aircrafts, footwear and leather products.
• The construction sector has been recording a healthy growth in the country, owing to significant increase in government investment on large-scale infrastructure projects in order to ensure steady growth of the economy.
• Moreover, owing to the growing air traffic, the government has planned to increase the number of airports to around 450 by 2035, which indicates about 91% increase over the current number of airports in the country. In this regards, there are numerous airport construction projects, which are either in development or planning stage in the country.
• Hence, presence of the strong production base of such end-user industries and growing construction investments have been driving the consumption of PU adhesives in the country.

Competitive Landscape

Asia-Pacific polyurethane (PU) adhesives market is fragmented in nature. Some of the key players in the market includes 3M, Arkema Group, Dow, H.B. Fuller, and Henkel AG & Co. KGaA, amongst others.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

IBM Corporation
Oracle Corporation
Internap Corporation
Packet Inc. (An Equinix Inc. Company)
Scaleway Inc.
Amazon Web Services Inc
Rackspace Inc.
CenturyLink, Inc.
LightEdge Solutions, Inc

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