Polyurethane is a polymer composed of units of organic chains, formed by the reaction of isocyanate and a polyol. Polyurethane is sticky in nature and used as an adhesive due to its property of sealant and high -quality bedding materials. The polyurethane adhesive is considered as strongest adhesive and sealant due to its moisture curing and multiple component system with different elongation under loads and thermal coefficient of expansion.
The polyurethane adhesives can be customized as per the requirement of the industry. The increasing demand of the polyurethane adhesive for market specific applications such as sealing, roofing, tiling, aerospace laminating, flexible packaging and automotive production lead to the significant growth of the global polyurethane adhesive market over the forecast period.
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Polyurethane Adhesives Market – Drivers and Restraints
The global polyurethane adhesive market is anticipated to grow at a significant CAGR over the forecast period. The demand of polyurethane adhesive is increasing due to its use in building and construction as the adhesives bond many types of substrates such as glass, plastic, wood, concrete etc. Moreover, the customization and availability of polyurethane adhesive in the multiple component system along with the optical clarity, durability, elongation, high/low temperature serviceability, electric insulation and rapid fixturing leads to its use in various industries such as automotive, footwear, packaging, electrical and furniture, resulting in the growth of the global polyurethane adhesive market.
However, the price of the polyurethane adhesive as compared to other adhesives is the major concern which may restrain the growth of the global polyurethane adhesive market.
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Polyurethane Adhesives Market – Region Wise Outlook
The global polyurethane adhesive market is segmented into the seven regions: North America, Latin America, Western Europe, and Eastern Europe, Asia Pacific Excluding Japan (APEJ), Japan and Middle East and Africa (MEA). The North America region has accounted to the leading market share in the global polyurethane adhesive market due to major applications of the polyurethane adhesive in the industries such as building and construction, automotive and transportation.
Western Europe has also contributed a significant market share in the global polyurethane adhesive market. APEJ region is expected to register the significant growth in the global polyurethane market during the forecast period due to increasing demand of polyurethane adhesives from various industries such as construction, automotive and furniture.
Japan and Eastern Europe also contribute a descent growth to the global polyurethane adhesive market. The MEA and Latin America are expected to anticipate the descent growth to the global polyurethane adhesive market during the forecast period. Overall, the global polyurethane adhesive market is expected to register a significant growth rate over the forecast period 2016 to 2026.
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Polyurethane Adhesives Market – Key Players
The some of the key players of the global polyurethane adhesive market are as follows:
- The Dow Chemical Company
- Arkema S.A.
- B. Fuller
- Scott Bader Company Ltd.
- 3M
- Huntsman Corporation
- Ashland Inc.
- Henkel AG & Co. KGaA
- Sika AG
- SOMAR
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