Polyurethane Adhesives Market worth $9.1 billion by 2024 | Key Players include Henkel AG & CO. KGAA, H.B. Fuller Company, 3M Company, Arkema S.A. and Sika AG

According to recent market research "Polyurethane Adhesives Market by Resin Type (Thermoset & Thermoplastic), Technology (Solvent-borne, 100% solids, Dispersion), End-use Industry (Automotive, Construction, Packaging, Footwear, Industrial, and Furniture), Region - Global Forecast to 2024" MarketsandMarkets: The PU adhesives market size is projected to grow from USD 7.0 billion in 2019 to USD 9.1 billion by 2024, at a CAGR of 5.6%, during the forecast period. The growth of end-use industries, such as building & construction, industrial, automotive & transportation, and packaging is driving the PU adhesives market.

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Dispersion is projected to register the highest CAGR in the PU adhesives market, by technology, during the forecast period.

The market for dispersion is projected to grow at the highest CAGR, aided by the stringent environmental regulations. These regulations prohibit the use of highly-toxic solvents, which have VOC emissions. exhibit high bond strength, and long-term durability under severe environmental conditions. The resulted adhesive has excellent temperature and environmental resistance while maintaining high-bond strength. They display excellent resistance to solvents & chemical products and have a low application temperature, which makes them suitable for heat-sensitive substrates. They generally have working temperatures between -86°F and +300°F. Sika AG (Switzerland), Jowat SE (Germany), Arkema S.A. (France), Ashland Inc. (US), LORD Corporation (US), DowDuPont Inc. (US), and Franklin International (US), and others have introduced various new products in the past five years to meet the emerging demand from end users.

The automotive & transportation segment is projected to account for the largest share of the PU adhesives market, by end-use industry, during the forecast period.

PU adhesives can easily join dissimilar substrates. They are being used in many other key components of automobile interiors, including headliners, door panels, interior pillars, instrument panels, seating, and package trays. Moreover, PU elastic adhesives cater to glazing applications for automotive, rail, and marine industries, among others. Along with the window glass, PU-based elastic adhesives cover a long list of applications, such as tail molding, interior trims, roof panels, luggage compartment floor, front molding, sidewall assembly, and deck assembly. This has aided vehicle manufacturers to use all types of lightweight materials without compromising on safety, functionality, or comfort. Adhesives continue to be an alternative to conventional fastening technologies to achieve robust assembly.

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The PU adhesives market is projected to grow from USD 7.0 billion in 2019 to USD 9.1 billion by 2024, at a CAGR of 5.6%, between 2019 and 2024. The growth of end-use industries, such as building & construction, automotive & transportation, and packaging is driving the PU adhesives market.

The key market players are Henkel AG & CO. KGAA (Germany), H.B. Fuller Company (US), 3M Company (US), Arkema S.A. (France), and Sika AG (Switzerland). These players have adopted various strategies, such as investment & expansion, new product launch, merger & acquisition, and partnership & agreement between 2015 and 2019, to enhance their market shares and expand their global presence.

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Henkel (Germany) is engaged in consumer and industrial businesses. The company operates through various segments, including adhesive technologies (adhesives, sealants, and surface treatments for consumer and industrial purposes); laundry & home care (household cleaning products, such as laundry detergent and dishwashing liquid), beauty care (beauty & oral care products, such as shampoos, toothpastes, hair colorants, and shower products), and corporate. The adhesive technologies segment of the company is a leader in the adhesives market across all the end-use industries, globally. The company manufactures polyurethane adhesives under this segment and markets them under brand Loctite, Macroplast, and Terostat. Henkel has operations in North America, Latin America, APAC, Europe, Middle East, and Africa. The company focuses on R&D and investment to maintain its leading position in the adhesives business. In September 2018, Henkel started the construction of its new state-of-the-art facility in Düsseldorf for the Adhesive Technologies business. The company planned to invest around USD 150 million for this facility. Once completed, the facility is expected to host 350 Henkel experts to develop new technologies and applications for various industries.

Arkema S.A. (France) is a global player in specialty chemicals and advanced materials market. Arkema is among the top four adhesives & sealants producers in the world. It operates through three business segments, namely, High Performance Materials, Industrial Specialties, and Coating Solutions. It has 137 production sites across 50 countries. The company operates three R&D centers (France, China, and the US) and 11 technical centers. It has over 400 researchers that work on new generation adhesives. Arkema markets its PU adhesives offering under its brands, such as Supergrip and Marocol. In February 2015, Arkema acquired Bostik (France). This acquisition was reportedly consistent with the groups strategy to expand in the specialty chemicals segment and continue developing its high performance materials segment.

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