Growing at a CAGR of 5.6%, Polyurethane Adhesives Market to be worth $9.1 billion by 2024 | Latest Update by MarketsandMarkets™

The report "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.

Browse 116 market data Tables and 41 Figures spread through 167 Pages and in-depth TOC on "Polyurethane Adhesives Market - Global Forecast to 2024"

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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.

PU adhesives in APAC is expected to register the highest CAGR during the forecast period.
The APAC PU adhesives market is segmented into China, Japan, India, South Korea, Thailand, Malaysia, and Rest of APAC. APAC is an emerging and lucrative market for PU adhesives, owing to industrial development and improving economic conditions. This region constitutes approximately 61% of the global population, resulting in the growth of the manufacturing and processing sectors.

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Recent Developments:
• In June 2018, Sika AG (Switzerland) unveiled a new product for the transportation market named Sikaflex-268 PowerCure, which is a 1-component PU adhesive and sealant especially used for vehicle glass and assembly applications. The product provides a strong weathering resistance and resistivity against a wide variety of cleaning agents used in the railways.
• In September 2018, Henkel AG & CO. KGAA (Germany) started the construction of its new state-of-the-art facility in Düsseldorf for 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.
• In May 2017, Henkel AG & CO. KGAA (Germany) signed an agreement to acquire Sonderhoff Holding GmbH (Germany), which offers high-impact sealing solutions for industrial assembly. With this acquisition, the company will reinforce its position in the adhesive technologies business.
• In February 2018, Huntsman entered into a partnership with Bodo Möller Chemie GmbH (Germany) to distribute Huntsman Advanced Materials, including its adhesives, potting & casting product lines in North America.

Key Questions Addressed by the Report
• What is the mid-to-long term impact of the developments undertaken in the industry?
• What are the upcoming technologies used in PU adhesives industry?
• Which segment has the potential to register the highest market share?
• What is the current competitive landscape in the PU adhesives market in terms of new technologies, production, and sales?
• What will be the growth prospects of the PU adhesives market?

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