Polyurethane Adhesives Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company's Polyurethane Adhesives Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033
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The polyurethane adhesives market has experienced significant growth in recent years. It is expected to rise from $9.64 billion in 2023 to $10.33 billion in 2024, reflecting a compound annual growth rate (CAGR) of 7.1%. The growth in the past period can be attributed to factors such as increased automotive production, expansion in the construction industry, advancements in packaging, a surge in demand for consumer electronics, and growing furniture production.
What Is the Expected Size of the Global Polyurethane Adhesives Market, and How Fast Will It Grow?
The polyurethane adhesives market is projected to experience strong growth in the coming years. It is expected to reach $13.67 billion by 2028, with a compound annual growth rate (CAGR) of 7.3%. This growth during the forecast period can be driven by factors such as the rise in electric vehicles, growing use of eco-friendly adhesives in green building projects, expansion of renewable energy initiatives, increased demand for smart devices, and greater adoption in the aerospace industry.
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What Is Accelerating Growth in the Polyurethane Adhesives Market?
The expansion of the construction industry is expected to drive the growth of the polyurethane adhesives market in the future. The construction industry encompasses the planning, design, and building of infrastructure as well as residential, commercial, and industrial structures. The growth in this sector is fueled by rising demand for infrastructure development, urbanization, and increased investments in residential, commercial, and industrial projects. Polyurethane adhesives are widely used in construction due to their strong bonding properties, flexibility, and moisture resistance, making them ideal for sealing, joining, and bonding materials like wood, concrete, and metal.
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Who Are the Major Players Influencing the Polyurethane Adhesives Market's Growth?
Key players in the polyurethane adhesives market include BASF SE, Dow Inc., 3M Company, Henkel AG & Co. KGaA, Covestro AG, ITW Performance Polymers, Parker Hannifin, Arkema S.A., Sika AG, Eastman Chemical Company, Wacker Chemie AG, Avery Dennison Corporation, RPM International Inc., H.B. Fuller Company, Mapei S.p.A., Huntsman Corporation, Pidilite Industries Limited, Shawcor Ltd., FLEXcon Company Inc., Delo Industrial Adhesives GmbH & Co.KG, Franklin International, Soudal N.V., Permabond LLC
What Are the Latest Trends Influencing Polyurethane Adhesives Market Size?
Key players in the polyurethane adhesives market are concentrating on developing innovative solutions, such as elastic adhesives, to meet the latest automotive performance demands. Elastic adhesives are flexible bonding agents that can stretch and revert to their original shape without compromising adhesion, making them perfect for applications that require resistance to movement and impact.
How Is The Global Polyurethane Adhesives Market Segmented?
1) By Product Type: Thermoset, Thermoplastic
2) By Technology: Solvent-Borne, Dispersion, Hot-Melt, Reactive, Other Technologies
3) By Applications: Footwear, Automotive, Building And Construction, Packaging, Electrical And Electronics, Furniture, Other Applications
Geographical Insights: North America Leading The Polyurethane Adhesives Market
North America was the largest region in the market in 2023. Asia-Pacific is expected to be the fastest-growing region in the report during the forecast period. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is The Definition Of The Polyurethane Adhesives Market?
Polyurethane adhesives are synthetic adhesives renowned for their strong bonding strength and flexibility. They are created through a chemical reaction between a polyol and an isocyanate, resulting in a highly durable adhesive. These adhesives also provide excellent elasticity and impact resistance, making them ideal for both structural and non-structural applications.
The Polyurethane Adhesives Global Market Report 2024 from The Business Research Company includes the following key information:
• Market size data for both historical and future periods
• Analysis of both macro and microeconomic factors that have impacted the market over the past five years
• Regional market analysis covering Asia-Pacific, China, Western Europe, Eastern Europe, North America, the USA, South America, and the Middle East and Africa
• Country-specific market analysis for Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.
Overview of the Global Polyurethane Adhesives Market Report: Trends, Opportunities, Strategies, and More
The Polyurethane Adhesives Global Market Report 2024 from The Business Research Company is an extensive resource that delivers insights into polyurethane adhesives market size, polyurethane adhesives market drivers and trends, polyurethane adhesives competitors' revenues, and polyurethane adhesives market growth across geographies. This report provides valuable in-depth insights into potential opportunities and strategies. Companies can utilize the information presented to target segments with the greatest growth potential.
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