The global polyurethane Pu hot melt adhesive market size is projected to expand at a substantial CAGR during the forecast period. Growth of the market is attributed to rising demand of melt adhesives.
Unlike traditional hot melt, which comes in the shape of a stick or pellet, polyurethane hot melt is heated and poured from a cartridge or slug. Polyurethane glue is a strong, water-resistant adhesive that can bond a wide range of materials. Polyurethane adhesives are really multi-purpose products that may be used to join a wide range of construction materials, including wood, glass, concrete, metals, and carpets.
The Covid-19 pandemic affected the demand and supply of global polyurethane Pu hot melt adhesive market. Lockdown across the globe, supply chain disorders, and oscillating supply of raw materials forced manufacturers to shut down production leading to unfortunate decline in market growth. Launch of vaccines to combat the Covid-19 pandemic is expected to contribute to the market growth over the forecast period.
Market Trends, Drivers, Restraints, and Opportunities
- Increasing demand for melt adhesives is projected to drive the market.
- Rising demand from packaging and electronic has fueled the market.
- High cost of raw materials is estimated to hinder the market growth.
- Development of bio-based PU hot melt adhesives is anticipated to create immense opportunities for the market players.
Scope of Polyurethane Pu Hot Melt Adhesive Market Report
The report on the global polyurethane Pu hot melt adhesive market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Polyurethane Pu Hot Melt Adhesive Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2021
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Historic Data
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2019–2020
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Forecast Period
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2021–2028
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Segmentation
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Non-reactive and Reactive
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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3M; H.B. Fuller; Henkel AG & Company KGaA; Arkema Group (Bostik AG); and Sika AG
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Polyurethane Pu Hot Melt Adhesive Market Segment Insights
The non- reactive segment holds a major market share
Based on types, the polyurethane Pu hot melt adhesive market is bifurcated into non-reactive and reactive. The non-reactive segment is estimated to hold a major market share. By applying light pressure to the adhesive and the adherend, pressure sensitive adhesives produce a bond. Chemically hardening or curable adhesives, also known as reactive adhesives, require a chemical reaction to join two surfaces.
The furniture segment is anticipated to expand at a high CAGR during forecast period
On the basis of applications, the polyurethane Pu hot melt adhesive market is segregated into paper, board, packaging, healthcare, automotive, furniture, footwear, textile, electrical and electronics, bookbinding, and others. Due to increased residential and commercial construction activity globally, the furniture sector dominated the market and is predicted to rise during forecast period.
In the woodworking sector, Pu hot-melt adhesives offer a wide range of applications. They can be utilized for profile wrapping, post-forming, and soft shaping, as well as other architectural and aesthetic components. The need for PU hot-melt adhesives in the woodworking sector is being driven by the demand for various types of furniture. The domestic or home market and the commercial or office market are the two main sources of demand for the furniture industry.
The market in Asia Pacific is projected to hold a major market share
In terms of regions, the global polyurethane Pu hot melt adhesive market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia-Pacific is estimated to dominate the market. Growth of the market is attributed to robust growth in end-user sectors like packaging, electronics, and automotive, led by nations like China, India, Malaysia, Thailand, and Indonesia. China, Japan, and South Korea dominated the market for polyurethane hot-melt adhesives in the region.
The Indian government has been taking steps to attract foreign direct investment (FDI) into the industrial sector in order to turn India into a manufacturing hub. In this context, investments have been made in end-user industries such as automotive, electronics, textiles, and healthcare. Such industries have seen increased investment and output, which is projected to drive demand for polyurethane hot-melt adhesives.
Segments
The global polyurethane Pu hot melt adhesive market is segmented on the basis of
Types
End-users
- Paper Board
- Packaging
- Healthcare
- Automotive
- Furniture
- Footwear
- Textile
- Electrical and Electronics
- Bookbinding
- Other
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
Competitive Landscape
The major players in the polyurethane Pu hot melt adhesive market include 3M, H.B. Fuller, Henkel AG & Company KGaA, Arkema Group (Bostik AG), and Sika AG.
Some of these players are using several market strategies such as acquisitions, merger, collaborations, partnerships, capacity expansion, and product launches to enhance their market shares and to generate revenue and raise their production line of the business in the coming years.
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