The global polyurethane adhesives market size was valued at USD 6,867.9 million in 2021 and is poised to grow at a significant CAGR of 7.1% during the forecast period 2022-28. The polyurethane adhesives market is being driven by the rise of end-use sectors such as building and construction, automotive and transportation, and packaging. Polyurethane adhesives are more expensive than their competitors, posing a threat to the industry's growth. The price volatility of petrochemical-based raw materials, combined with the production standstill, can have a negative impact on the industry's profitability and the price development of polyurethane adhesives.

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Thermoplastic segment Dominates the Polyurethane Adhesives Market:
The thermoplastic Resin Type segment is growing at 6.8% CAGR and is expected to reach USD 3,062.3 Mn by 2028. This is due to the increasing demand for thermoplastic polyurethane adhesives for its ideal applications and can be tailored according to the required application. Other major factors driving the market are increasing applications in the medical industry and environment-friendly and recyclable products. Oil and grease resistance, abrasion resistance, and solid mechanical properties characterize thermoplastic polyurethane adhesives, making them useful in a variety of industrial applications will create a massive opportunity for the market players during the forecast period.

The global polyurethane adhesives market segmentation

• By Resin Type: Thermoset, and Thermoplastic
• By Technology: Solvent-Borne, Hot Melt, Reactive, Water Borne, and Rad-cure
• By End User: Automotive, Building & Construction, Electrical & Electronics, Footwear, Furniture, Packaging, and Others and Geography

Asia Pacific Leads Polyurethane Adhesives Market:
The Asia-Pacific region owned most of the worldwide market share. China's packaging sector is the world's second largest. The country is expected to rise steadily over the projection period due to the advent of customised packaging and increased demand for packaged consumer goods in the food segment, such as snack foods, microwave food, and frozen foods. Europe will also be the second-largest shareholder. The size of the polyurethane adhesives market in Europe will grow because of rapid industrialization and urbanisation, as well as rigorous regulatory regulations.

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Key player’s profiles in the polyurethane adhesives market report are 3M., BASF SE, Arkema, AVERY DENNISON CORPORATION, HB Fuller Company, Henkel Adhesives Technologies, Huntsman International LLC., Pidilite Industries Ltd., and American Biltrite.                                                                            

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