Market Size of Polyurethane (PU) Hot-melt Adhesive Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 7.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Polyurethane Hot Melt Adhesives Market Analysis
The global polyurethane (PU) hot-melt adhesives market was valued at around USD 1,00 million in 2021. The polyurethane (PU) hot-melt adhesive market is expected to witness a CAGR greater than 7% during the forecast period.
Major factors driving the market studied are rising environmental awareness, increasing demand from the Asia-Pacific packaging and electronics industry. However, volatility in the availability and price of raw materials is expected to hinder the growth of the market studied.
- Furniture industry dominated the market and is expected to grow during the forecast period, due to increasing residential and commercial construction activities, globally.
- Rising demand for bio-based PU hot melt adhesives is likely to provide various opportunities for the growth of the market in the future.
- Asia-Pacific region dominated the polyurethane (PU) hot-melt adhesive market across the world, with the largest consumption from the countries, such as China, India, and Japan.
Polyurethane Hot Melt Adhesives Industry Segmentation
Polyurethane hot melt adhesives is an adhesive that is heated and dispensed from a cartridge or slug, unlike traditional hot melt which is in stick or pellet form. The market is segmented by Type (Non-reactive and Reactive), Application (Paper, Board, and Packaging, Healthcare, Automotive, Furniture, Footwear, Textile, Electrical and Electronics, Bookbinding, and Other Applications), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa). The report offers market size and forecasts for 15 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of Revenue (USD Million) for all the above segments.
| Type | |
| Non-reactive | |
| Reactive |
| Application | |
| Paper, Board, and Packaging | |
| Healthcare | |
| Automotive | |
| Furniture (Woodworking) | |
| Footwear | |
| Textiles | |
| Electrical and Electronics | |
| Bookbinding | |
| Other Applications |
| Geography | |||||||
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Polyurethane (PU) Hot-melt Adhesive Market Size Summary
The polyurethane hot melt adhesives market is poised for significant growth, driven by increasing environmental awareness and rising demand from the Asia-Pacific packaging and electronics sectors. The furniture industry leads the market, fueled by global construction activities. The market is also witnessing a shift towards bio-based PU hot melt adhesives, presenting new growth opportunities. The Asia-Pacific region, particularly China, India, and Japan, dominates the market, with strong consumption in packaging and electronics. PU hot melt adhesives are essential in the packaging industry, offering superior bonding and curing properties, making them a preferred choice for industrial applications.
The market is characterized by a high level of consolidation, with major players like 3M, H.B. Fuller, Henkel AG & Company KGaA, Arkema Group, and Sika AG holding significant market shares. These companies are actively involved in recent developments to maintain their competitive edge. The automotive industry, particularly in China and India, is a key driver of market growth, with increasing production and a shift towards electric vehicles. The diverse applications of PU hot melt adhesives, from packaging to automotive and electronics, underscore their importance in various industries, ensuring substantial market expansion in the coming years.
Polyurethane (PU) Hot-melt Adhesive Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Drivers
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1.1.1 Increasing Demand from the Packaging and Electronics Industries
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1.1.2 Rising Environmental Concerns Regarding Solvent-borne Adhesives
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1.2 Restraints
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1.3 Industry Value Chain Analysis
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Consumers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Degree of Competition
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2. MARKET SEGMENTATION
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2.1 Type
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2.1.1 Non-reactive
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2.1.2 Reactive
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2.2 Application
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2.2.1 Paper, Board, and Packaging
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2.2.2 Healthcare
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2.2.3 Automotive
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2.2.4 Furniture (Woodworking)
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2.2.5 Footwear
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2.2.6 Textiles
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2.2.7 Electrical and Electronics
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2.2.8 Bookbinding
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2.2.9 Other Applications
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2.3 Geography
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2.3.1 Asia-Pacific
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2.3.1.1 China
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2.3.1.2 India
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2.3.1.3 Japan
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2.3.1.4 South Korea
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2.3.1.5 Rest of Asia-Pacific
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2.3.2 North America
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2.3.2.1 United States
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2.3.2.2 Canada
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2.3.2.3 Mexico
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2.3.3 Europe
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2.3.3.1 Germany
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2.3.3.2 United Kingdom
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2.3.3.3 Italy
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2.3.3.4 France
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2.3.3.5 Rest of Europe
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2.3.4 South America
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2.3.4.1 Brazil
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2.3.4.2 Argentina
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2.3.4.3 Rest of South America
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2.3.5 Middle-East and Africa
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2.3.5.1 Saudi Arabia
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2.3.5.2 South Africa
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2.3.5.3 Rest of Middle-East and Africa
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Polyurethane (PU) Hot-melt Adhesive Market Size FAQs
What is the current Polyurethane (PU) Hot-melt Adhesive Market size?
The Polyurethane (PU) Hot-melt Adhesive Market is projected to register a CAGR of greater than 7% during the forecast period (2024-2029)
Who are the key players in Polyurethane (PU) Hot-melt Adhesive Market?
3M, H.B. Fuller, Henkel AG & Company KGaA, Arkema Group (Bostik) and Sika AG are the major companies operating in the Polyurethane (PU) Hot-melt Adhesive Market.
