Adhesives are substances applied on one or both the surfaces to bind them together. They have replaced rivets, welded parts, and other mechanical parts in various equipment. Polyurethane adhesives reduce the overall costs of the entire manufacturing process. They exhibit superior product performance, are reliable, and increase the lifespan of the product. They are increasingly used in the automotive and transportation, furniture and woodwork, building and construction, electrical and electronics, footwear, and packaging industries. Polyurethane adhesives reduce the overall weight of the vehicle, thereby enhancing fuel efficiency.
Market Analysis and Insights: Global Polyurethane Adhesives Market
Due to the COVID-19 pandemic, the global Polyurethane Adhesives market size is estimated to be worth US$ 2146.2 million in 2022 and is forecast to a readjusted size of US$ 2653.5 million by 2028 with a CAGR of 3.6% during the forecast period 2022-2028. Fully considering the economic change by this health crisis, Solvent-borne accounting for % of the Polyurethane Adhesives global market in 2021, is projected to value US$ million by 2028, growing at a revised % CAGR from 2022 to 2028. While Building & Construction segment is altered to an % CAGR throughout this forecast period.
Asia-Pacific is expected to witness the highest growth rate in the PU adhesives market, in terms of value and volume, between 2018 and 2023. In recent years, enormous increase in the building & construction activities has been witnessed in the region. The demand for automotive have also increased in the region over the past few years. These factors increase the demand for technologically advanced services, thus driving the need for PU adhesives in the region.
Global Polyurethane Adhesives Market: Drivers and Restrains
The research report has incorporated the analysis of different factors that augment the market’s growth. It constitutes trends, restraints, and drivers that transform the market in either a positive or negative manner. This section also provides the scope of different segments and applications that can potentially influence the market in the future. The detailed information is based on current trends and historic milestones. This section also provides an analysis of the volume of production about the global market and about each type from 2017 to 2028. This section mentions the volume of production by region from 2017 to 2028. Pricing analysis is included in the report according to each type from the year 2017 to 2028, manufacturer from 2017 to 2022, region from 2017 to 2022, and global price from 2017 to 2028.
A thorough evaluation of the restrains included in the report portrays the contrast to drivers and gives room for strategic planning. Factors that overshadow the market growth are pivotal as they can be understood to devise different bends for getting hold of the lucrative opportunities that are present in the ever-growing market. Additionally, insights into market expert’s opinions have been taken to understand the market better.
Global Polyurethane Adhesives Market: Segment Analysis
The research report includes specific segments by region (country), by manufacturers, by Type and by Application. Each type provides information about the production during the forecast period of 2017 to 2028. by Application segment also provides consumption during the forecast period of 2017 to 2028. Understanding the segments helps in identifying the importance of different factors that aid the market growth.
Segment by Type
Solvent-borne
Reactive
Dispersion
Hot-melt
Others
Segment by Application
Building & Construction
Automotive & Transportation
Packaging
Footwear
Electrical & Electronics
Furniture & Woodwork
Others
By Company
Ashland
BASF
Henkel
The Dow Chemical Company
3M
Arkema Group
Covestro
HB FULLER COMPANY
Huntsman Corporation
Illinois Tool Works
Sika
Production by Region
North America
Europe
China
Japan
Consumption by Region
North America
U.S.
Canada
Europe
Germany
France
U.K.
Italy
Russia
Asia-Pacific
China
Japan
South Korea
India
Australia
Taiwan
Indonesia
Thailand
Malaysia
Philippines
Vietnam
Latin America
Mexico
Brazil
Argentina