Global Polyurethane Adhesives Market Trends, Applications, Analysis, Growth, and Forecast to 2028

Global Polyurethane Adhesives Market: Introduction  

“The global Polyurethane Adhesives Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”

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Adhesive substances are applied on different surfaces to bind together. Usage of adhesives reduced demand for rivets, welded parts, and other mechanical parts various equipment. Incorporation of polyurethane adhesives aids to reduce overall production cost. Manufacturers use polyurethane adhesives owing to its superior product performance, reliability, and improved product life.

Polyurethane adhesives are utilized in various industries such as electronics, footwear, construction, furniture, packaging, and automotive, among others. Vehicles contain major plastic parts over the mechanical fasteners. In addition, usage of polyurethane adhesive while manufacturing vehicle parts makes it light in weight and enhances fuel efficiency. Polyurethane adhesives are used in various end-use applications, as they offer excellent adhesion to multiple substrates and binds them instantly.

Dynamics

Increasing adoption for polyurethane adhesives across various end-use industries including Building and construction and automobile and transportation is a factor expected to propel the global market growth. In addition, increasing demand for polyurethane adhesives from packaging and electronics and electrical industries is a key factor expected to fuel the global polyurethane adhesives market growth.

In addition, rapid growth in government expenditure in the construction sector and growing economy are among other factor expected to propel the global market growth. Increasing demand for the polyurethane adhesives products in developing countries such as India, China, and others is additional factor expected to augment the global market growth.

Polyurethane adhesives are used in various end-use applications owing to its excellent adhesion to different substrates and ability binds them immediately. This is another key factor expected to drive growth of the global market. However, high cost of product is a factor expected to restraint the target market growth.

Segment Insights

Among the technology segments, the solvent-borne segment is estimated to witness high revenue share in the global polyurethane adhesives market, owing to its ability to immediate bonding substrates with its adhesion properties. The solvent-borne segment revenue is projected to record fastest CAGR over the next few years.

Among the type segments, the thermoplastic segment is projected to witness moderate revenue share in the global polyurethane adhesives market. The thermoplastic segment revenue is anticipated to record highest CAGR.

Among the application segments, the building and construction segment is expected to witness significant revenue share in the global polyurethane adhesives market. The building and construction segment revenue is expected to register fastest growth rate over the next few years.

Region Insights

The Asia Pacific polyurethane adhesives market is expected to record major revenue share in the global polyurethane adhesives market, owing to increasing adoption of polyurethane adhesives from the building and construction and transportation and automobile sectors. The Asia Pacific market is expected to record highest revenue growth. This is attributed to increasing demand from electronics and electrical and industrial sectors in the countries in the region.

Global polyurethane adhesives market segmentation:

Segmentation by Technology:

• Solvent-borne
• Reactive
• Dispersion
• Hot-melt

Segmentation by Type:

• Thermoset
• Thermoplastic

Segmentation by Application:

• Building and construction
• Automotive and transportation
• Packaging
• Electrical and electronics
• Others (Furniture and woodwork and Footwear)

Segmentation by Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa