What is Polyurethane Adhesives Market?
Polyurethane adhesives are those adhesives which are made of urethane polymers with chemical-based of isocyanate group. It is also known as elastic adhesives. There are numerous benefits of using polyurethane adhesive such as waterproof, resistant to solvents and chemicals, paintable with water-based and solvent-based paints, high adhesion strength, among others. It is widely used in the construction industry for interior or exterior projects. For instance, according to the Government of the United Kingdom, in 2017, the construction sector contributed USD 125.17 billion to the United Kingdom economy, more than 6 percent of total output. Hence, increasing usage of polyurethane adhesives in the construction industry and rising disposable income in developing countries are some of the major factors which affect the growth of the market in the future.
The market study is being classified by Type (Rigid Polyurethane and Elastic Polyurethane), by Application (Car, Furniture, Concrete, Hardwood floors and Others) and major geographies with country level break-up.
3M (United States), Arkema S.A. (France), The Dow Chemical Company (United States), Ashland Inc. (United States), H.B. Fuller (United States), Henkel AG & Co. KGaA (Germany), Huntsman Corporation (United States), Scott Bader Company Ltd. (United Kingdom) and Sika AG (Switzerland) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are Illinois Tool Works Inc. (United States) and Loctite (United States).
Research Analyst at AMA predicts that United States Vendors will contribute to the maximum growth of Global Polyurethane Adhesives market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Polyurethane Adhesives market by Type, Application and Region.
On the basis of geography, the market of Polyurethane Adhesives has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Increasing Usage of Polyurethane Adhesive in the Building and Construction Sector
- Growing Demand for Polyurethane Adhesives due to Waterproof, Resistant to Solvents Features
Market Trend
- Increasing Advancement and Innovation in Adhesives Technology
Restraints
- Issue related to Price of the Polyurethane Adhesive as Compared to Other Adhesives
Opportunities
- Growing Demand from Emerging Market such as China, India, Brazil, among others
Challenges
- Continuously Fluctuation in the Prices of Raw Material
Market Leaders and some development strategies
In August 2017, the Sika AG (Switzerland) Company has acquired ABC Sealants (Istanbul) company, which manufacturer of sealants as well as adhesives. Therefore, this acquisition will strengthen the company presence in the polyurethane adhesive industry across the globe
Key Target Audience
Manufacturers of Polyurethane Adhesive, Suppliers of Polyurethane Adhesive, Wholesalers, Distributors and Retailers of Polyurethane Adhesive, Research and Development (R&D) Companies, Research Organization, Federal Agencies and Others