What are the factors contributing in Polyurethane Adhesives Market growth? Huntsman Corporation, Ashland, The Dow Chemical Company, 3M, Sika AG, Arkema, Scott Bader Company

Polyurethane adhesives market size from packaging applications may witness significant gains over the forecast timeframe. It is widely used as tubes, squeeze package and single usage packages owing to good UV resistance and ability to set in high moisture conditions is likely to stimulate industry growth. Global packaging market size may register gains at over 5% by 2024 due to increasing consumer demand in the sector.

North America driven by Canada, and the U.S polyurethane adhesives market should register significant gains owing to increase in automotive and construction sectors. Increasing infrastructure spending accompanied with favourable government schemes should drive industry growth in the region. Stringent government regulations related to vehicle efficiency in order to curb carbon emission should propel regional industry growth.

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Polyurethane Adhesives Market size is likely to witness steady gains over the foreseeable timeframe owing to its increasing demand from various building & construction, packaging, electronic & electrical, automotive, furniture, and footwear industries. PU adhesives are capable of binding various porous and non-porous materials such as rubber, wood, metals, glass and plastics.

Polyurethane adhesives are also known as an elastic glue, is a polymer formed by the reaction of polyol and isocyanates and is composed of units of linear polymeric chains connected by carbamate or urethane links. PU adhesives are weather resistant and generally suitable for outdoor projects. These are available as sealants which provides high strength and long-lasting bond thereby catering to various end-use industries.

Positive indicator in construction spending in the U.S., China, India, Germany, and Brazil owing to rise in expansion of various green building technologies along with commercial and residential building infrastructure should drive polyurethane adhesives market size.

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Europe polyurethane adhesives market size, led by UK, France, and Germany may register significant gains over the forecast period. Major automobile companies such as Mercedes, BMW and Audi are based in Europe which is likely to have a positive affect the regional product demand. Rapid industrialization and urbanization coupled with stringent government regulations will fuel the PU adhesives market size.

Polyurethane adhesives cost is higher than other counterpart which may challenge industry growth. Volatility in petrochemical based raw material costs along with stagnant production may hinder industry profitability and affect PU adhesives market price trend.

However, development and introduction of new technologies accompanied by availability of customized glues to cater various end-use industries may fuel polyurethane adhesives market demand. Increasing R&D spending mainly in construction and manufacturing sectors may stimulate industry growth. Shift in consumer trend towards bio-based polyols may create new avenues in the market.

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Global polyurethane adhesives market share is moderately consolidated and competitive with major companies including H.B. Fuller, Huntsman Corporation, Ashland, The Dow Chemical Company, 3M, Sika AG, Arkema, Scott Bader Company, Henkel AG & Company and Illinois Tool Works. Most of the manufacturers are supplying raw materials and forming partnerships in order to enhance product portfolio and expand business.

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