Polyurethane Adhesives Market worth $10.3 billion by 2027 - At a CAGR of 5.0%
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 2027″, is projected to grow from USD 8.1 billion in 2022 to USD 10.3 billion by 2027, at a CAGR of 5.0% between 2022-2027. Versatility of Polyurethane Adhesives boost the market demand.
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Browse 193 market data Tables and 47 Figures spread through 227 Pages and in-depth TOC on “Polyurethane Adhesives Market”
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Automotive is the fastest-growing segment of the overall Polyurethane Adhesives market.
Adhesives are used mainly in the automotive industry for bonding different automotive components, trucks, and buses. Polyurethane adhesives are used extensively in this end-use industry for improving performance, developing lightweight designs, and fabricating structures using multi-materials such as glass fiber-reinforced composite, carbon fiber composites, aluminum, and others. The growing importance of composites as materials for automotive applications and the need for adhesives that are able to withstand higher service temperatures have created growth potential for new high-temperature-resistant adhesives.
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India is the fastest growing segment in Polyurethane Adhesives market during the forecast period.
The major industries in India include automobiles, aerospace, railway, chemical, defense, manufacturing, and packaging. According to the Federation of Indian Chambers of Commerce and Industry (FICCI), the Indian chemical industry will witness exponential growth of 9% by 2025. The Indian automotive industry is witnessing a phase of rapid transformation and growth, mainly driven by stable economic growth, infrastructural development, increased spending capacity of individuals, and low labor costs. Global automotive companies see India as a global sourcing hub and are keen to exploit its potential.
The key players profiled in the Polyurethane Adhesives market report are Henkel AG & Co. KGAA (Germany), H.B. Fuller Company (US), Dow Inc. (US), Sika AG (Switzerland), and 3M Company (US).
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