Polyurethane Adhesives Market Research Report by Resin Type (Thermoplastic and Thermoset), Technology, End-Use Industry, Region - Cumulative Impact of COVID-19, Russia Ukraine Conflict, and High Inflation - Global Forecast 2023-2030
The Global Polyurethane Adhesives Market size was estimated at USD 9,558.56 million in 2022 and expected to reach USD 10,385.38 million in 2023, projecting growth at a CAGR of 9.06% to reach USD 19,131.52 million by 2030.
The report provides market sizing and forecasts across 7 major currencies - USD, EUR, JPY, GBP, AUD, CAD, and CHF; multiple currency support helps organization leaders to make better decisions. In this report, the years 2018 to 2021 are considered as historical years, 2022 as the base year, 2023 as the estimated year, and years from 2024 to 2030 are considered as the forecast period.
Cumulative Impact of COVID-19:
The COVID-19 pandemic has had a significant effect on global markets, including that of polyurethane adhesives. The lockdowns, travel restrictions, and general economic uncertainty all contributed to an overall decline in demand for polyurethane adhesives. Furthermore, with most countries relying on imports to meet their needs for raw materials and other resources necessary for production, the cost of producing polyurethane adhesives has increased significantly due to currency fluctuations, supply chain disruptions, and rising shipping costs.
Cumulative Impact of Russia-Ukraine Conflict:
The Russia-Ukraine conflict has also had an impact on the market for polyurethane adhesives. With both countries being major suppliers of raw materials necessary for producing polyurethane adhesives, such as resins and catalysts, the materials are subject to fluctuating pricing due to changing geopolitical dynamics in the region. As both countries attempt to gain control over access to resources such as natural gas or oil reserves in disputed territories, it is likely that prices will continue to fluctuate until some resolution is reached between them.
Cumulative Impact of High Inflation:
High inflation rates around the world have greatly impacted the cost of producing polyurethane adhesives due to increased costs associated with raw materials and other inputs needed during production. This has led many companies in this sector to increase their prices in order to remain profitable despite rising input costs which is likely going to affect consumer spending in this industry moving forward.
The market dynamics represent the ever-shifting landscape of the Global Polyurethane Adhesives Market by providing actionable insights into supply and demand levels. Taking such factors into account helps inform strategies, investments, and future developments to capitalize on opportunities or avoid potential pitfalls related to political, geographical, technical, social, and economic conditions. Such market observations also highlight consumer behaviors while influencing both manufacturing costs as well as consumer purchasing decisions.
- Significant Growth and Investments in Building & Construction Activities
- Increasing number of renovation and remodeling activities in the residential sector
- Rising demand from electronics & automotive industry owing to performance efficiency and physical characteristics
- Fluctuating cost of petrochemical-based raw materials used in PU adhesive manufacturing
- Recent advancements and launch of improved polyurethane adhesives
- Increase in R&D activities and rapid expansion of production facilities
- Moisture sensitivity and performance issues associated with the use of PU adhesives
Market Segmentation & Coverage:
- Based on Resin Type, the market is studied across Thermoplastic and Thermoset.
- Based on Technology, the market is studied across Dispersion, Hot Melt, Reactive, and Solvent-Borne.
- Based on End-Use Industry, the market is studied across Automotive & Transportation, Building & Construction, Footwear, Furniture & Decoration, Industrial, and Packaging.
- Based on Region, the market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom.
This research report categorizes the Global Polyurethane Adhesives Market in order to forecast the revenues and analyze the trends in each of the following sub-markets:
Company Usability Profiles:
The report profoundly explores the recent significant developments by the leading vendors and innovation profiles in the Global Polyurethane Adhesives Market, including 3M Company, Adhesives Research, Inc., American Biltrite, Arkema S.A., Ashland Inc., Astra Chemtech Pvt.Ltd., Avery Dennison Corporation, BASF SE, Beardow Adams, Chemence Inc., Ellsworth Adhesives, Franklin International, H.B. Fuller Company, Henkel AG & Co. KGaA, Huntsman International LLC, Illinois Tool Works Inc., Jowat SE, LORD Corporation by Parker Hannifin Corporation, Pidilite Industries Ltd., RPM International Inc., Scott Bader Company Limited, Sika AG, Soudal Holding N.V., The Dow Chemical Company, and Wacker Chemie AG.
The report provides insights on the following pointers:
- Market Penetration: Provides comprehensive information on the market offered by the key players
- Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
- Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
- Market Trends: Provides comprehensive understanding of the Cumulative Impact of COVID-19, the Russia-Ukraine Conflict, and the High Inflation
- Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
- Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
- What is the market size and forecast of the Global Polyurethane Adhesives Market?
- What are the inhibiting factors and impact of COVID-19 shaping the Global Polyurethane Adhesives Market during the forecast period?
- Which are the products/segments/applications/areas to invest in over the forecast period in the Global Polyurethane Adhesives Market?
- What is the competitive strategic window for opportunities in the Global Polyurethane Adhesives Market?
- What are the technology trends and regulatory frameworks in the Global Polyurethane Adhesives Market?
- What is the market share of the leading vendors in the Global Polyurethane Adhesives Market?
- What modes and strategic moves are considered suitable for entering the Global Polyurethane Adhesives Market?