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Polyurethane Adhesives Market Size

The polyurethane adhesives market is projected to experience significant growth, driven by its extensive application in the packaging and construction industries. The market's expansion is supported by increasing demand in sectors such as electronics and household appliances, alongside a robust construction sector, particularly in the Asia Pacific region. Despite previous sluggish demand due to economic slowdowns and the impact of the COVID-19 pandemic, recovery is anticipated through increased investments and support schemes. This growth trajectory highlights the market's resilience and potential for continued expansion in the coming years.

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Market Size of polyurethane adhesives Industry

Polyurethane Adhesives Market Summary
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svg icon Study Period 2017 - 2028
svg icon Market Size (2024) USD 14.70 Billion
svg icon Market Size (2028) USD 18.45 Billion
svg icon Largest Share by End User Industry Packaging
svg icon CAGR (2024 - 2028) 5.86 %
svg icon Largest Share by Region Asia-Pacific
svg icon Market Concentration Low

Major Players
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*Disclaimer: Major Players sorted in no particular order

Key Players

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Polyurethane Adhesives Market Analysis

The Polyurethane Adhesives Market size is estimated at 14.70 billion USD in 2024, and is expected to reach 18.45 billion USD by 2028, growing at a CAGR of 5.86% during the forecast period (2024-2028).

14.70 Billion

Market Size in 2024 (USD)

18.45 Billion

Market Size in 2028 (USD)

5.24 %

CAGR (2017-2023)

5.86 %

CAGR (2024-2028)

Largest Market by End-user Industry

27.49 %

value share, Packaging, 2023

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Packaging is the dominant end-user industry in the market owing to its widespread usage in laminating applications for flexible food packaging.

Largest Market by Technology

35.09 %

value share, Hot Melt, 2023

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Hot melt is the largest technology type in the market owing to its wide range of applications across major end-user industries, including packaging, healthcare, automotive, and building and construction.

Largest Market by Region

41.88 %

value share, Asia-Pacific, 2023

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Asia-Pacific, driven mainly by India, China, South Korea, and Japan, is a major polyurethane adhesive consumer owing to its usage from various end-user segments.

Fastest Growing Market by Region

6.15 %

Projected CAGR, Europe, 2024-2028

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Due to the increasing population and rapid urbanization in countries such as China, India, South Korea, Japan, and others, the Asia-Pacific region is projected to be the fastest-growing region during the forecast period.

Leading Market Player

6.07 %

market share, Sika AG, 2021

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Sika AG has been witnessing increasing volume sales globally. This increase can be attributed to the popularity of its products, mostly in the automotive and building and construction industries.

Emerging construction and packaging end-use sector expected to boost the consumption of polyurethane adhesives, globally

  • Polyurethane adhesives are widely used in the packaging industry. Polyurethane adhesives are used in food and beverage packaging, container packaging, end-of-line packaging for functional barrier applications, and metal packaging. Additionally, according to a report published by the Association for Packaging and Processing Technologies, growth in the global packaging industry reached USD 42.2 billion in 2021, which increased from USD 36.8 billion in 2016, owing to the increasing population, growing sustainability concerns, more spending power in developing regions, the rising demand for smart packaging, and others.
  • Similarly, the building and construction segment occupies the second-highest share in the global polyurethane adhesives market. Polyurethane adhesives offer good cohesion, adhesion and elasticity, high cohesive strength, flexibility, and high elastic modulus of the substrate. According to the United Nations (UN), around 50% of the global population resides in urban cities, which is projected to touch 60% by 2030. The pace of economic and demographic growth must be in harmony with the demand for commercial, residential, and institutional construction activities. By 2030, around 40% of the global population is likely to need housing at the rate of over 96,150 houses per day. Thus, rising construction activities are likely to drive the market for polyurethane adhesives in the upcoming years.
  •  Polyurethane adhesives are widely used in electronics and electrical equipment manufacturing. The electronics and household appliances industries are expected to record a CAGR of 2.51% and 5.77%, respectively, globally, which will lead to an increase in demand for polyurethane adhesives during the forecast period (2022-2028).
Global Polyurethane Adhesives Market

Increased investments and recovery funds in North America, Europe and Asia-Pacific, projected to raise the global utilization of polyurethane adhesives in various end-use sectors

  • The Asia Pacific has occupied the largest share of the demand for polyurethane adhesives throughout the entire study period because of the large number of construction and packaging activities, Automotive, Medical devices, and aerospace production capacities, and other well-established end-user industries in the region. China is the largest construction and automotive market globally and generates up to 58% of the demand from the Asia Pacific region.
  • During 2017-19 the demand for polyurethane adhesives has been sluggish. This is because of slow growth in Europe and the Asia Pacific regions. The global decline in the demand from construction and automotive end-user industries, which are among the major end-user industries, has restricted the overall growth of polyurethane adhesives demand. The demand from these industries declined with CAGRs of -0.05% and -1.79% during this period.
  • In 2020, the demand for polyurethane adhesives from all end-user industries declined because of the covid-19 pandemic. In some countries like South Africa, and Brazil among others construction activities were deemed essential and were allowed to operate during the pandemic. Factors like these have cushioned the global impact restricting the decline to 8.96% in 2020.
  • In 2021, due to the relief packages and support schemes in countries like the United States, Australia, and countries in the EU among others, the demand started to recover and this growth trend is expected to continue throughout the forecast period. Increased investments and budget allotments witnessed in countries of Europe, South America, and the Asia Pacific regions are expected to be major driving factors for this growth.

Polyurethane Adhesives Industry Segmentation Polyurethane Adhesives Industry Segmentation

Aerospace, Automotive, Building and Construction, Footwear and Leather, Healthcare, Packaging, Woodworking and Joinery are covered as segments by End User Industry. Hot Melt, Reactive, Solvent-borne, UV Cured Adhesives, Water-borne are covered as segments by Technology. Asia-Pacific, Europe, Middle East & Africa, North America, South America are covered as segments by Region.

  • Polyurethane adhesives are widely used in the packaging industry. Polyurethane adhesives are used in food and beverage packaging, container packaging, end-of-line packaging for functional barrier applications, and metal packaging. Additionally, according to a report published by the Association for Packaging and Processing Technologies, growth in the global packaging industry reached USD 42.2 billion in 2021, which increased from USD 36.8 billion in 2016, owing to the increasing population, growing sustainability concerns, more spending power in developing regions, the rising demand for smart packaging, and others.
  • Similarly, the building and construction segment occupies the second-highest share in the global polyurethane adhesives market. Polyurethane adhesives offer good cohesion, adhesion and elasticity, high cohesive strength, flexibility, and high elastic modulus of the substrate. According to the United Nations (UN), around 50% of the global population resides in urban cities, which is projected to touch 60% by 2030. The pace of economic and demographic growth must be in harmony with the demand for commercial, residential, and institutional construction activities. By 2030, around 40% of the global population is likely to need housing at the rate of over 96,150 houses per day. Thus, rising construction activities are likely to drive the market for polyurethane adhesives in the upcoming years.
  •  Polyurethane adhesives are widely used in electronics and electrical equipment manufacturing. The electronics and household appliances industries are expected to record a CAGR of 2.51% and 5.77%, respectively, globally, which will lead to an increase in demand for polyurethane adhesives during the forecast period (2022-2028).
End User Industry
Aerospace
Automotive
Building and Construction
Footwear and Leather
Healthcare
Packaging
Woodworking and Joinery
Other End-user Industries
Technology
Hot Melt
Reactive
Solvent-borne
UV Cured Adhesives
Water-borne
Region
Asia-Pacific
Australia
China
India
Indonesia
Japan
Malaysia
Singapore
South Korea
Thailand
Rest of Asia-Pacific
Europe
France
Germany
Italy
Russia
Spain
United Kingdom
Rest of Europe
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa
North America
Canada
Mexico
United States
Rest of North America
South America
Argentina
Brazil
Rest of South America
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Polyurethane Adhesives Market Size Summary

The polyurethane adhesives market is poised for significant growth, driven by its extensive application across various industries such as packaging, construction, and electronics. These adhesives are particularly favored in the packaging sector due to their versatility and effectiveness in food and beverage packaging, container packaging, and metal packaging. The building and construction industry also represents a substantial portion of the market, as polyurethane adhesives provide excellent adhesion, flexibility, and strength, which are crucial for modern construction needs. The increasing urbanization and demand for sustainable building practices further bolster the market's expansion. Additionally, the electronics and electrical equipment sectors are expected to contribute to the rising demand for these adhesives, as they are integral in manufacturing processes.

Regionally, the Asia-Pacific area dominates the polyurethane adhesives market, supported by robust construction and packaging activities, along with strong automotive and aerospace industries. China, in particular, plays a pivotal role due to its large-scale construction and automotive markets. Despite previous sluggish demand in certain regions and industries, the market has shown resilience, with recovery observed post-pandemic due to economic stimulus measures and increased investments in infrastructure. The packaging industry, in particular, has benefited from trends like e-commerce growth and innovations such as smart and sustainable packaging solutions. The market remains fragmented, with key players like 3M, H.B. Fuller Company, and Henkel AG & Co. KGaA leading the charge in innovation and expansion efforts.

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Polyurethane Adhesives Market Size - Table of Contents

  1. 1. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2028 and analysis of growth prospects)

    1. 1.1 End User Industry

      1. 1.1.1 Aerospace

      2. 1.1.2 Automotive

      3. 1.1.3 Building and Construction

      4. 1.1.4 Footwear and Leather

      5. 1.1.5 Healthcare

      6. 1.1.6 Packaging

      7. 1.1.7 Woodworking and Joinery

      8. 1.1.8 Other End-user Industries

    2. 1.2 Technology

      1. 1.2.1 Hot Melt

      2. 1.2.2 Reactive

      3. 1.2.3 Solvent-borne

      4. 1.2.4 UV Cured Adhesives

      5. 1.2.5 Water-borne

    3. 1.3 Region

      1. 1.3.1 Asia-Pacific

        1. 1.3.1.1 Australia

        2. 1.3.1.2 China

        3. 1.3.1.3 India

        4. 1.3.1.4 Indonesia

        5. 1.3.1.5 Japan

        6. 1.3.1.6 Malaysia

        7. 1.3.1.7 Singapore

        8. 1.3.1.8 South Korea

        9. 1.3.1.9 Thailand

        10. 1.3.1.10 Rest of Asia-Pacific

      2. 1.3.2 Europe

        1. 1.3.2.1 France

        2. 1.3.2.2 Germany

        3. 1.3.2.3 Italy

        4. 1.3.2.4 Russia

        5. 1.3.2.5 Spain

        6. 1.3.2.6 United Kingdom

        7. 1.3.2.7 Rest of Europe

      3. 1.3.3 Middle East & Africa

        1. 1.3.3.1 Saudi Arabia

        2. 1.3.3.2 South Africa

        3. 1.3.3.3 Rest of Middle East & Africa

      4. 1.3.4 North America

        1. 1.3.4.1 Canada

        2. 1.3.4.2 Mexico

        3. 1.3.4.3 United States

        4. 1.3.4.4 Rest of North America

      5. 1.3.5 South America

        1. 1.3.5.1 Argentina

        2. 1.3.5.2 Brazil

        3. 1.3.5.3 Rest of South America

Polyurethane Adhesives Market Size FAQs

The Global Polyurethane Adhesives Market size is expected to reach USD 14.70 billion in 2024 and grow at a CAGR of 5.86% to reach USD 18.45 billion by 2028.

In 2024, the Global Polyurethane Adhesives Market size is expected to reach USD 14.70 billion.

Polyurethane Adhesives Market Report Snapshots

Polyurethane Adhesives Market Size & Share Analysis - Growth Trends & Forecasts UP TP 2028