Research Nester published a report titled “Polyurethane Adhesives Market: Global Demand Analysis & Opportunity Outlook 2030” which delivers detailed overview of the global polyurethane adhesives market in terms of market segmentation by technology, type, application, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global polyurethane adhesives market is estimated to grow at a CAGR of ~6% over the forecast period, i.e., 2022 – 2030. The market is segmented on the basis of type into thermoset and thermoplastics, out of which, the thermoplastics segment is projected to hold the largest share over the forecast period on the back of various benefits, such as, smoothness, flexibility, and durability of thermoplastics polyurethane adhesives, along with the ability of TPU to melt and form bonds.
The global polyurethane adhesives market is foreseen to grow on the back of increasing application of synthetic adhesives amongst the end-user industries. Polyurethane adhesives form bonds by absorbing heat from the surfaces, which is estimated to boost the market growth. Growth in the automotive and construction industries is projected to increase the demand for adhesives, which is estimated to boost the market growth. The growing sale of automobiles is further estimated to boost the growth of the market.
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On the basis of geographical analysis, the global polyurethane adhesives market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in the North America region is projected to gain leading market share throughout the forecast period owing to the increasing production of vehicles, along with the presence of major automobile manufacturers in the region. According to the data by International Organization of Motor Vehicle Manufacturers (OICA), in 2017, 3,033,216 passenger cars and 8,156,769 commercial vehicles were manufactured in the U.S.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Increasing Production of Automobiles to Boost the Market Growth
The sales of vehicles around the world have witnessed a surge in growth in the recent years, backed by rising urbanization and the increasing need amongst individuals to travel in personal vehicles. In the year 2020, over 75 million automobiles were known to be manufactured worldwide. Polyurethane adhesives are often used to manufacture different parts of vehicles. With the growing demand for vehicles worldwide, the application of polyurethane adhesives for manufacturing these parts is also expected to increase, and in turn, boost the market growth.
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However, high competition from epoxy adhesives, and disrupted supply-chain are expected to operate as key restraint to the growth of the global polyurethane adhesives market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global polyurethane adhesives market which includes company profiling of The 3M Company, H.B. Fuller Company, Henkel AG & Co. KGaA, Arkema group, Sika AG, Toyochem Co., Ltd., Lonza Group AG, Akzo Nobel N.V., Wacker Chemie AG, and Royal Adhesives & Sealants, LLC. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global polyurethane adhesives market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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