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Global Polyurethane Adhesives Market Size, Growth, Forecast: By Technology: Solvent Borne, Reactive, Dispersion Hot Melt, Others; By Type: Thermoset, Thermoplastic; By Application: Packaging, Building and Construction, Automotive, Footwear, Electrical and Electronics, Furniture, Others; Regional Analysis; Competitive Landscape; 2024-2032
Global Polyurethane Adhesives Market Outlook
The global polyurethane adhesives market size reached nearly USD 3.35 billion in 2023. The market is projected to grow at a CAGR of 6.3% between 2024 and 2032 to reach a value of around USD 5.80 billion by 2032.
Key Trends in the Market
Polyurethane adhesive refers to a type of reactive adhesive which contains multiple units of organic chains and is linked to urethane. This adhesive is typically brown in colour and offers resistance to heat, water, and several chemicals.
- Due to their ability to bond various materials, polyurethane adhesives are widely utilised in the building and construction sector to build halls, industrial facilities, and commercial structures, among others. Hence, the thriving building and construction sector across developing and developed countries is a crucial polyurethane adhesives market trend.
- Increasing application of polyurethane adhesives in the electrical and electronics sector to transmit electric current from one component to another is driving the market.
- Polyurethane adhesive is also used to bond wooden materials, such as timber. In this regard, the increasing demand for aesthetic wooden furniture across the residential and commercial sectors is bolstering the polyurethane adhesives market growth.
Market Analysis
Based on technology, the market is segmented into solvent borne, reactive, and dispersion hot melt, among others. On the basis of type, the market is classified into thermoset and thermoplastic. By application, the polyurethane adhesives market segmentation includes packaging, building and construction, automotive, footwear, electrical and electronics, and furniture, among others. The major regional markets for polyurethane adhesives include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the key players in the global polyurethane adhesives market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.
- Akzo Nobel N.V.
- PPG Industries, Inc.
- Wacker Chemie AG
- Dow Inc.
- 3M Co.
- Sika AG
- H.B. Fuller Company
- WEICON GmbH & Co. KG
- Huntsman International LLC
- Parson Adhesives India Pvt . Ltd.
- Others
Market Share by Application
Packaging accounts for a significant portion of the polyurethane adhesives market share. The increasing packaging demand in sectors such as food and beverage, pharmaceuticals, and healthcare, among others, is fuelling the application of polyurethane adhesives in the packaging sector due to their excellent adhesion, flexibility, and heat resistance benefits.
Over the forecast period, the growing expansion of the e-commerce sector, coupled with the rising demand for flexible packaging solutions, is expected to generate a healthy demand for polyurethane adhesives.
Market Share by Region
As per the polyurethane adhesives market analysis, the Asia Pacific is likely to offer lucrative opportunities to the overall market development in the forecast period. This can be attributed to the strong foothold of local manufacturers, coupled with the robust expansion of the major end-use sectors, such as food and beverage and building and construction, among others, in the region.
Increasing investments towards the construction of polyurethane adhesives manufacturing facilities across emerging economies like India are expected to propel the polyurethane adhesives market demand in the region in the forecast period.
Competitive Landscape
Akzo Nobel N.V. is a leading paint and coating company which manufactures high-performance polyurethane adhesives for interior and exterior applications. It was founded in 1994 and is headquartered in Amsterdam, the Netherlands.
PPG Industries, Inc. is one of the largest global suppliers of paints, coatings, and speciality materials such as polyurethane adhesives, among others. It was established in 1883 and is headquartered in Pennsylvania, the United States.
Wacker Chemie AG is a leading chemical manufacturer which offers solutions for adhesive formulations, including solid resins and polymer dispersions. The company was founded in 1914 and is headquartered in Munich, Germany.
Other market players include Dow Inc., 3M Co., Sika AG, H.B. Fuller Company, WEICON GmbH & Co. KG, Huntsman International LLC, and Parson Adhesives India Pvt . Ltd., among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Technology |
|
| Breakup by Type |
|
| Breakup by Application |
|
| Breakup by Region |
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| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Polyurethane Adhesives Market Analysis
8.1 Key Industry Highlights
8.2 Global Polyurethane Adhesives Historical Market (2018-2023)
8.3 Global Polyurethane Adhesives Market Forecast (2024-2032)
8.4 Global Polyurethane Adhesives Market by Technology
8.4.1 Solvent Borne
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Reactive
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Dispersion Hot Melt
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.4.4 Others
8.5 Global Polyurethane Adhesives Market by Type
8.5.1 Thermoset
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Thermoplastic
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.6 Global Polyurethane Adhesives Market by Application
8.6.1 Packaging
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Building and Construction
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Automotive
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Footwear
8.6.4.1 Historical Trend (2018-2023)
8.6.4.2 Forecast Trend (2024-2032)
8.6.5 Electrical and Electronics
8.6.5.1 Historical Trend (2018-2023)
8.6.5.2 Forecast Trend (2024-2032)
8.6.6 Furniture
8.6.6.1 Historical Trend (2018-2023)
8.6.6.2 Forecast Trend (2024-2032)
8.6.7 Others
8.7 Global Polyurethane Adhesives Market by Region
8.7.1 North America
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Europe
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Asia Pacific
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Latin America
8.7.4.1 Historical Trend (2018-2023)
8.7.4.2 Forecast Trend (2024-2032)
8.7.5 Middle East and Africa
8.7.5.1 Historical Trend (2018-2023)
8.7.5.2 Forecast Trend (2024-2032)
9 North America Polyurethane Adhesives Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Polyurethane Adhesives Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Polyurethane Adhesives Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Polyurethane Adhesives Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Polyurethane Adhesives Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Akzo Nobel N.V.
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 PPG Industries, Inc.
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Wacker Chemie AG
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Dow Inc.
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 3M Co.
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Sika AG
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 H.B. Fuller Company
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 WEICON GmbH & Co. KG
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 Huntsman International LLC
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 Parson Adhesives India Pvt . Ltd.
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Polyurethane Adhesives Market: Key Industry Highlights, 2018 and 2032
2. Global Polyurethane Adhesives Historical Market: Breakup by Technology (USD Billion), 2018-2023
3. Global Polyurethane Adhesives Market Forecast: Breakup by Technology (USD Billion), 2024-2032
4. Global Polyurethane Adhesives Historical Market: Breakup by Type (USD Billion), 2018-2023
5. Global Polyurethane Adhesives Market Forecast: Breakup by Type (USD Billion), 2024-2032
6. Global Polyurethane Adhesives Historical Market: Breakup by Application (USD Billion), 2018-2023
7. Global Polyurethane Adhesives Market Forecast: Breakup by Application (USD Billion), 2024-2032
8. Global Polyurethane Adhesives Historical Market: Breakup by Region (USD Billion), 2018-2023
9. Global Polyurethane Adhesives Market Forecast: Breakup by Region (USD Billion), 2024-2032
10. North America Polyurethane Adhesives Historical Market: Breakup by Country (USD Billion), 2018-2023
11. North America Polyurethane Adhesives Market Forecast: Breakup by Country (USD Billion), 2024-2032
12. Europe Polyurethane Adhesives Historical Market: Breakup by Country (USD Billion), 2018-2023
13. Europe Polyurethane Adhesives Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Asia Pacific Polyurethane Adhesives Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Asia Pacific Polyurethane Adhesives Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Latin America Polyurethane Adhesives Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Latin America Polyurethane Adhesives Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Middle East and Africa Polyurethane Adhesives Historical Market: Breakup by Country (USD Billion), 2018-2023
19. Middle East and Africa Polyurethane Adhesives Market Forecast: Breakup by Country (USD Billion), 2024-2032
20. Global Polyurethane Adhesives Market Structure
Key Questions Answered in the Report
The market reached a value of nearly USD 3.35 billion in 2023.
The market is estimated to grow at a CAGR of 6.3% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach a value of around USD 5.80 billion by 2032.
The wide utilisation of polyurethane adhesives in the building and construction sector, the increasing application of the product for manufacturing electronic products, and the increasing demand for aesthetic wooden furniture are the major drivers of the market.
The key trends in the market include increasing investments towards the construction of polyurethane adhesives manufacturing facilities across emerging economies and the thriving packaging sector.
Solvent borne, reactive, and dispersion hot melt, among others, are the different segments based on the technologies of the product.
Thermoset and thermoplastic are the significant types of polyurethane adhesives.
Akzo Nobel N.V., PPG Industries, Inc., Wacker Chemie AG, Dow Inc., 3M Co., Sika AG, H.B. Fuller Company, WEICON GmbH & Co. KG, Huntsman International LLC, and Parson Adhesives India Pvt . Ltd., among others, are the key market players.
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