Global Polyurethane Adhesives Market Report and Forecast 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

Polyurethane Adhesives Market Report Snapshots

Polyurethane Adhesives Market Size

Polyurethane Adhesives Market Share

Polyurethane Adhesives Market Analysis

Polyurethane Adhesives Companies