Polyurethane (PU) Hot-melt Adhesive Market - Growth, Trends, and Forecast (2019 - 2024)

The market is segmented by Type (Non-reactive, Reactive), by Application (Paper, Board, and Packaging, Healthcare, Automotive, Furniture (Woodworking), Footwear, Textiles, Electrical and Electronics, Bookbinding, and Others), and Geography

Market Snapshot

Polyurethane (PU) Hot-melt Adhesive Market - Market Summary
Study Period:

2016-2024

Base Year:

2018

Fastest Growing Market:

Asia Pacific

Largest Market:

Asia Pacific

Key Players:

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Market Overview

The polyurethane (PU) hot-melt adhesive market is expected to grow at a CAGR of around 7.9% during the forecast period of 2019 – 2024. 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 in 2018 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 globe with the largest consumption from the countries such as China, India, and Japan.

Scope of the Report

The polyurethane (PU) hot-melt adhesive market report include:

Type
Non-Reactive
Reactive
Application
Paper, Board, and Packaging
Healthcare
Automotive
Furniture (Woodworking)
Footwear
Textiles
Electrical and Electronics
Bookbinding
Others
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

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Key Market Trends

Paper, Board & Packaging Segment - A Huge Market Potential

  • An extremely high proportion of industrial products are sold in packages, either due to stability requirements for storage and transport or for aesthetic reasons. Most packaging materials presently used are different materials laminated together, which require the use of adhesives.
  • PU hot-melt adhesives are an excellent solution for carton closing, sealing, and pallet stabilization for food, beverages, and other consumer and industrial products.
    • PU hot-melt offers stronger adhesion, and cures better than traditional hot-melts, making it a prudent choice in the growing industrial packaging industry.
    • In addition, these adhesives are also available in clear versions, making it easy to hide any glue lines, to give an appearance of continuity in the material. The high visibility makes clear box and folding carton packaging more attractive to consumers.
  • PU hot-melt adhesives can bond small cartons to heavy wrap-around cases. The adhesive is perfect for packaging in various industries, such as:
    • Perfumes, cosmetics, and beauty products are customarily packaged in transparent cases. PU hot-melt adhesives are used to seal those packages, which ensures a clear application and helps in dispensing a perfect end-product.
  • Most of the demand for packaging is from the food and beverage industry. On the other hand, healthcare products are the largest users of folding cartons. These end-user segments are likely to boost the demand for  PU hot-melt adhesives in the coming years.
  • The APAC region is expected to account for the largest share in the use of PU hot-melt adhesives for the packaging industry. China leads the market for folding cartons, owing to its high purchasing power, combined with rapidly growing consumption, which is likely to fuel the PU hot-melt adhesives industry.
Polyurethane (PU) Hot-melt Adhesive Market - Segmentation Trends

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Asia-Pacific Region to Dominate the Market

  • Asia-Pacific region dominated the global market share in 2018. Asia-Pacific is also projected to register highest growth during the forecast period, driven by strong growth of end-user industries, such as packaging, electronics, and automotive, through different countries, such as, China, India, Malaysia, Thailand, and Indonesia.
  • China dominated the market for polyurethane hot-melt adhesives in the region, followed by Japan and South Korea. However, the countries, such as India and South Korea are expected to witness highest CAGR during the forecast period.
  • Indian government has been taking initiatives to attract FDI’s in the manufacturing sector, to make India a manufacturing hub. In this regards, the country has been witnessing investments into end-user industries, such as automotive, electronics, textile, healthcare, etc.
  • Besides, ASEAN countries, like Vietnam, Thailand, Indonesia, Philippines, and Malaysia, are also witnessing numerous investment opportunities. With growth in income, and rising population, the demand for electronic products, vehicles, etc. has been increasing. With this, investments and production in such industries have also been witnessing growth, which is further expected to create demand for polyurethane hot-melt adhesives market.
Polyurethane (PU) Hot-melt Adhesive Market - Regional Trends

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Competitive Landscape

The global polyurethane (PU) hot-melt adhesive market is a consolidated market, where major players account for a significant portion of the market demand. Some of the major players include 3M, H.B. Fuller, Henkel AG & Company KGaA, Arkema Group (Bostik AG), and Sika AG, amongst others.

Major Players

  1. 3M
  2. H.B. Fuller
  3. Henkel AG & Company KGaA
  4. Arkema Group (Bostik)
  5. Sika AG

* Complete list of players covered available in the table of contents below

Polyurethane (PU) Hot-melt Adhesive Market - Market Concentration

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Increasing Applications in a Wide Range of Industries

      2. 4.1.2 Increasing Demand from the Asia-Pacific Packaging and Electronics Industry

      3. 4.1.3 Rising Environmental Awareness

    2. 4.2 Restraints

      1. 4.2.1 Volatility in Availability and Price of Raw Materials

      2. 4.2.2 Other Restraints

    3. 4.3 Industry Value-Chain Analysis

    4. 4.4 Porters 5 Force Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION

    1. 5.1 Type

      1. 5.1.1 Non-Reactive

      2. 5.1.2 Reactive

    2. 5.2 Application

      1. 5.2.1 Paper, Board, and Packaging

      2. 5.2.2 Healthcare

      3. 5.2.3 Automotive

      4. 5.2.4 Furniture (Woodworking)

      5. 5.2.5 Footwear

      6. 5.2.6 Textiles

      7. 5.2.7 Electrical and Electronics

      8. 5.2.8 Bookbinding

      9. 5.2.9 Others

    3. 5.3 Geography

      1. 5.3.1 Asia-Pacific

        1. 5.3.1.1 China

        2. 5.3.1.2 India

        3. 5.3.1.3 Japan

        4. 5.3.1.4 South Korea

        5. 5.3.1.5 Rest of Asia-Pacific

      2. 5.3.2 North America

        1. 5.3.2.1 United States

        2. 5.3.2.2 Canada

        3. 5.3.2.3 Mexico

      3. 5.3.3 Europe

        1. 5.3.3.1 Germany

        2. 5.3.3.2 United Kingdom

        3. 5.3.3.3 Italy

        4. 5.3.3.4 France

        5. 5.3.3.5 Rest of Europe

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle East & Africa

        1. 5.3.5.1 Saudi Arabia

        2. 5.3.5.2 South Africa

        3. 5.3.5.3 Rest of Middle East & Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share Analysis**

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 3M Company

      2. 6.4.2 Arkema Group (Bostik SA)

      3. 6.4.3 BASF SE

      4. 6.4.4 Mapei SpA

      5. 6.4.5 Collano Adhesives AG

      6. 6.4.6 Covestro AG

      7. 6.4.7 Delo Industrial Adhesives

      8. 6.4.8 DIC Corporation

      9. 6.4.9 Sika AG

      10. 6.4.10 H.B. Fuller

      11. 6.4.11 Henkel AG & CO. KGaA

      12. 6.4.12 Jowat SE

      13. 6.4.13 DowDuPont

      14. 6.4.14 Franklin International, Inc.

      15. 6.4.15 Huntsman Corporation

      16. 6.4.16 Pidilite Industries Ltd

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Rising Demand for Bio-based PU hot melt adhesives

    2. 7.2 Other Opportunities

**Subject to Availability

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