Asia Pacific Polyurethane (PU) Adhesives Market Size | 2031

Report Description

The Asia Pacific polyurethane adhesives market size was USD XX Billion in 2022 and is likely to reach USD XX Billion by 2031, expanding at a CAGR of 6.59% during 2023–2031. The growth of the market is attributed to growing demand of polyurethane adhesives for construction activities and the wide application of the automotive and aerospace industries in the manufacture of light aircraft and vehicles.

Adhesive is a substance that is applied to various surfaces to bond them together. The use of adhesives eliminates the need for welding of parts, rivets, and other mechanical parts of equipment. The use of polyurethane adhesives helps reduce overall production costs. The use of polyurethane glue makes auto parts light, thereby improving fuel efficiency.

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Asia Pacific Polyurethane Adhesives Market Trends, Drivers, Restraints, and Opportunities

• Increasing spending on construction activities is projected to boost the market during the forecast period.

• Rapid growth of the automotive industry in lightweight vehicles to create demand for adhesives is major factors driving the market.

• Rising disposable income and increasing demand for electronic gadgets is expected to fuel the market during forecast period.

• High cost of polyurethane adhesives and alternative products is projected to hamper the market growth.

• Strict government regulations on environmental emissions act as major challenges that can restrict the market growth during the forecast period.

• R&D investment and advancement of high quality, non-toxic, and environment-friendly adhesives is anticipated to offer immense opportunities for the market players.

Scope of Asia Pacific Polyurethane Adhesives Market Report

The report on the Asia Pacific polyurethane adhesives market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Asia Pacific Polyurethane Adhesives Market Segment Insights

The thermoplastic segment is projected to represent a major market share

Based on resin types, the polyurethane adhesives market is bifurcated into thermoplastic and thermoset. The thermoplastic segment is expected to represent a key share of the market during the forecast period. Growth of the market is attributed to better flexibility and adhesion. However, polyurethane-based thermoplastic adhesives are more expensive.  Growing housing demand and government infrastructure spending in China and India are driving the demand for thermoplastic polyurethane adhesives.  Increasing demand of adhesives for packaging, automobiles and electronic products is estimated to drive the market.

The solvent-borne segment is expected to grow at a rapid pace

Based on technology, the polyurethane adhesives market is segregated into solvent-borne, water borne, hot melt, and other technologies. The solvent-borne segment is expected to hold a key share of the market during the forecast period. Solvent-borne polyurethane adhesives consist of hydroxyl-terminated high-molecular-weight polyurethane dissolved in a solvent. Solvent-based PU adhesives mainly have different qualities. They adhere well to rubber, leather, textiles, metal, paper, wood, and plastics. Solvent-based polyurethane adhesives are also used in various lamination applications.

The building and construction segment is anticipated to expand at a rapid CAGR

Based on end-users, the polyurethane adhesives market is fragmented into footwear & leather, packaging, building & construction, automotive & aerospace, healthcare, electrical & electronics, and others. The building and construction segment is expected to account for a key share of the market during the forecast period.

PU adhesive has low strength and fast curing, making it an excellent choice for woodworking and other construction applications. They provide high strength needed to hold building materials together. In addition, this material has a wide range of uses; it is suitable for plastics, glass, PVF, aluminum, stainless steel, and other metals, regardless of the strength of the substrate. Construction activities in countries such as China, India, Indonesia, Vietnam, and Thailand have increased significantly. This trend may continue in the near future, leading to an increase in the consumption of polyurethane adhesives in the region.

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China is anticipated to dominate the market

On the basis of geography, the market is classified as India, Japan, China, South Korea, Asian Countries, and Rest of Asia Pacific. China is anticipated to dominate the market during the forecast period. The regional market growth can be attributed to rising consumption power of China. The country is the world's largest manufacturer of automobiles, electricity, electronics, and packaging, as well as a major manufacturer of airplanes, shoes, and leather products. In addition, due to the surge in air traffic, the government plans to increase the number of airports of about 91% over the country's current number of airports.