Polyurethane Adhesives Market by Product Type, Technology (100% Solids, Dispersion, Solvent-Borne), Class, Type, End-Use Industry

Description

List of Tables

[185 Pages Report] 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.

KEY MARKET STATISTICS
Base Year [2023]	USD 9.66 billion
Estimated Year [2024]	USD 10.26 billion
Forecast Year [2030]	USD 14.98 billion
CAGR (%)	6.46%

Product Type: Wide use of polyurethane adhesives in construction materials and heavy-duty equipment assembly

Thermoplastic polyurethane (TPU) adhesives are known for their versatility, exceptional bonding strength, and resistance to chemicals, abrasion, and weather. These adhesives can be re-melted and reprocessed numerous times without significant loss in mechanical properties, making them ideal for applications requiring flexibility and ease of handling. They excel in situations where the bonded materials may experience flexing or temperature changes due to their high elongation properties and resistance to temperature extremes. In contrast to thermoplastics, thermoset polyurethane (TSU) adhesives undergo an irreversible chemical reaction during curing that imparts excellent durability and resistance to chemicals and environmental stressors. They are widely used in applications where rigid bonds with high structural integrity are necessary, such as construction materials or heavy-duty equipment assembly. TSU adhesives are best suited for applications that demand a permanent, high-strength bond capable of withstanding harsh environments.

Technology: Higher adoption of dispersion polyurethane adhesives in packaging industries that offer high durability and flexibility

Dispersion polyurethane adhesives are waterborne adhesives that provide excellent bonding performance, low odor, and minimal environmental impact. These adhesives are widely used in construction, automotive, and packaging industries due to their high durability and flexibility. Hot melt polyurethane adhesives are solid thermoplastic resins that melt at elevated temperatures and form strong bonds upon cooling. They are commonly used for applications requiring fast-setting times and excellent temperature resistance, such as footwear manufacturing, textile lamination, and electronic assembly. Reactive polyurethane adhesives cure when exposed to moisture or heat, forming highly durable bonds without the use of solvents or other volatile organic compounds (VOCs). They offer excellent resistance to chemicals, UV radiation, and temperature changes. Solvent-borne polyurethane adhesives incorporate solvents to provide superior wetting properties on various materials and surfaces. They are used in flexible packaging applications due to their excellent adhesion strength, moisture resistance, and compatibility with multiple substrates such as plastics, metals, and paper.

Class: Expanding preference of reactive polyurethane adhesives for structural bonding applications

Non-reactive polyurethane adhesives, also known as hot-melt adhesives, are solid at room temperature and liquefy after they are heated, which are applied as water-borne, solvent-borne, or hot-melts. They are known for their quick setting time and the ability to be reactivated by heat. These adhesives are used in applications where a strong initial bond is required and there is a possibility of future repositioning or remodeling. They are primarily preferred for applications such as footwear, textiles, and other situations where a temporary bond is desirable or when the production process demands rapid curing times for higher throughput. Reactive polyurethane adhesives are chemical curatives that undergo a chemical reaction during the bonding process, typically with moisture. This reaction leads to the formation of a permanent bond that is highly resistant to heat and chemicals. These adhesives are used in applications requiring durable, long-lasting bonds. Reactive polyurethane adhesives are the preferred choice for structural bonding applications in the automotive industry, construction, and woodworking due to their robustness, where high-strength, durable adhesion is essential for long-term performance.

Type: Growing potential of two-component polyurethane adhesives for demanding structural applications

One-component polyurethane adhesives are formulations that cure upon exposure to moisture without the need for mixing with a second component. They are pre-catalyzed and require moisture from the atmosphere or the substrate to initiate the curing process. This type of adhesive is known for its ease of application, convenience, and fast-setting capabilities. One-component adhesives provide robust bonding strength for a variety of materials, including wood, plastics, metals, and ceramics. They are extensively used in the construction, automotive, and furniture industries due to their excellent durability, flexibility, and resistance to various environmental factors. Two-component polyurethane adhesives consist of a resin and a hardener that must be mixed in the correct proportions before application. The chemical reaction between the two components triggers the curing process, leading to a strong, durable bond. These adhesives offer greater control over cure times and final properties, which can be tailored to specific applications by adjusting the formulation. Two-component polyurethane adhesives are ideal for demanding structural applications, providing high strength, chemical resistance, and thermal stability.

End-Use Industry: Increasing usage of polyurethane adhesives in electronics and industrial applications due to their high thermal stability

In the building and construction industry, polyurethane adhesives are preferred for their strong bonding capabilities to various substrates such as concrete, wood, metal, and insulation. These adhesives provide excellent weather resistance and support load-bearing applications such as flooring systems and structural panels. Polyurethane adhesives are utilized extensively in electronics and industrial applications due to their increased thermal stability and electrical insulation properties. They enable reliable bonding of electronic components such as integrated circuits (ICs), printed circuit boards (PCBs), encapsulation of semiconductors, and transformer cores manufacturing, among others. The footwear industry employs polyurethane adhesives for their excellent bonding strength, lightweight properties, resistance to abrasion and wear, and comfort-enhancing features. Polyurethane adhesives have various applications in furniture and decoration industries due to their ability to bond different materials such as wood, metals, glass, laminates, fabrics, and leather, offering excellent durability and aesthetic appeal. In the packaging industry, polyurethane adhesives are preferred owing to their excellent bonding capabilities across various substrates, particularly plastic films and laminates, and their resistance to aggressive chemicals in packaged goods.

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.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Polyurethane Adhesives Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis 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: 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 examination of the current state of vendors in the Polyurethane Adhesives Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. 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 this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

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

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.

2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.

3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.

4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.

5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Polyurethane Adhesives Market?

2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Polyurethane Adhesives Market?

3. What are the technology trends and regulatory frameworks in the Polyurethane Adhesives Market?

4. What is the market share of the leading vendors in the Polyurethane Adhesives Market?

5. Which modes and strategic moves are suitable for entering the Polyurethane Adhesives Market?

Product Code: MRR-A563921574D3

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Significant investments in building & construction activities and an increasing number of renovation and remodeling activities
  - 5.1.1.2. Rising demand from the electronics & automotive industry owing to performance efficiency and physical characteristics
- 5.1.2. Restraints
  - 5.1.2.1. Fluctuating cost of petrochemical-based raw materials used in PU adhesive
- 5.1.3. Opportunities
  - 5.1.3.1. Recent advancements and the launch of improved polyurethane adhesives
  - 5.1.3.2. Emerging application of polyurethane adhesives in solar panels
- 5.1.4. Challenges
  - 5.1.4.1. Moisture sensitivity and performance issues associated with the use of PU adhesives
5.2. Market Segmentation Analysis
- 5.2.1. Product Type: Wide use of polyurethane adhesives in construction materials and heavy-duty equipment assembly
- 5.2.2. Technology: Higher adoption of dispersion polyurethane adhesives in packaging industries that offer high durability and flexibility
- 5.2.3. Class: Expanding preference of reactive polyurethane adhesives for structural bonding applications
- 5.2.4. Type: Growing potential of two-component polyurethane adhesives for demanding structural applications
- 5.2.5. End-Use Industry: Increasing usage of polyurethane adhesives in electronics and industrial applications due to their high thermal stability
5.3. Market Trend Analysis
- 5.3.1. Significant availability of raw materials with the rising availability of native market vendors in the Americas
- 5.3.2. Expanding production capabilities of polyurethane adhesives coupled with the advancement of innovative packaging solutions in the APAC region
- 5.3.3. Presence of key polyurethane adhesive manufacturers and increasing demand of polyurethane adhesive in the automotive and construction industry in the EMEA
5.4. Cumulative Impact of High Inflation
5.5. Porter's Five Forces Analysis
- 5.5.1. Threat of New Entrants
- 5.5.2. Threat of Substitutes
- 5.5.3. Bargaining Power of Customers
- 5.5.4. Bargaining Power of Suppliers
- 5.5.5. Industry Rivalry
5.6. Value Chain & Critical Path Analysis
5.7. Regulatory Framework Analysis

6. Polyurethane Adhesives Market, by Product Type

6.1. Introduction
6.2. Thermoplastic
6.3. Thermoset

7. Polyurethane Adhesives Market, by Technology

7.1. Introduction
7.2. 100% Solids
7.3. Dispersion
7.4. Solvent-Borne

8. Polyurethane Adhesives Market, by Class

8.1. Introduction
8.2. Non-reactive
8.3. Reactive

9. Polyurethane Adhesives Market, by Type

9.1. Introduction
9.2. One-component
9.3. Two-component

10. Polyurethane Adhesives Market, by End-Use Industry

10.1. Introduction
10.2. Automotive & Transportation
10.3. Building & Construction
10.4. Electronics & Industrial
10.5. Footwear
10.6. Furniture & Decoration
10.7. Packaging

11. Americas Polyurethane Adhesives Market

11.1. Introduction
11.2. Argentina
11.3. Brazil
11.4. Canada
11.5. Mexico
11.6. United States

12. Asia-Pacific Polyurethane Adhesives Market

12.1. Introduction
12.2. Australia
12.3. China
12.4. India
12.5. Indonesia
12.6. Japan
12.7. Malaysia
12.8. Philippines
12.9. Singapore
12.10. South Korea
12.11. Taiwan
12.12. Thailand
12.13. Vietnam

13. Europe, Middle East & Africa Polyurethane Adhesives Market

13.1. Introduction
13.2. Denmark
13.3. Egypt
13.4. Finland
13.5. France
13.6. Germany
13.7. Israel
13.8. Italy
13.9. Netherlands
13.10. Nigeria
13.11. Norway
13.12. Poland
13.13. Qatar
13.14. Russia
13.15. Saudi Arabia
13.16. South Africa
13.17. Spain
13.18. Sweden
13.19. Switzerland
13.20. Turkey
13.21. United Arab Emirates
13.22. United Kingdom

14. Competitive Landscape

14.1. Market Share Analysis, 2023
14.2. FPNV Positioning Matrix, 2023
14.3. Competitive Scenario Analysis
- 14.3.1. Henkel enables sustainable transformation: First bio-based PUR-Adhesives for load-bearing timber construction
- 14.3.2. COIM Acquires Spanish Reactive Hot-melt PU Adhesives Manufacturer
- 14.3.3. SI Group Launches Curative for PU & Epoxy Adhesives at FEICA 2023
- 14.3.4. Covestro advances polyurethane dispersions capabilities with completion of new Shanghai facility
- 14.3.5. Huntsman Announces Development of New Materials Designed to Boost Battery Performance and Protection
- 14.3.6. Henkel launches a new injectable thermally conductive adhesive for EV battery systems
- 14.3.7. Intertronics launches Point-One micro emission polyurethane adhesives
- 14.3.8. Pearl Polyurethane Launches Pearl Bond Range of Adhesive
- 14.3.9. Sabre introduces a series of high performance polyurethane adhesives
- 14.3.10. Huntsman Starts Commercial Operation of New Splitter at its Geismar, Louisiana Polyurethanes Plant

15. Competitive Portfolio

15.1. Key Company Profiles
15.2. Key Product Portfolio