Asia-Pacific Polyurethane Adhesives Market Size
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Study Period | 2017 - 2028 |
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Market Size (2024) | USD 6.18 Billion |
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Market Size (2028) | USD 7.82 Billion |
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Largest Share by End User Industry | Packaging |
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CAGR (2024 - 2028) | 6.07 % |
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Largest Share by Country | China |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
Asia-Pacific Polyurethane Adhesives Market Analysis
The Asia-Pacific Polyurethane Adhesives Market size is estimated at 6.18 billion USD in 2024, and is expected to reach 7.82 billion USD by 2028, growing at a CAGR of 6.07% during the forecast period (2024-2028).
6.18 Billion
Market Size in 2024 (USD)
7.82 Billion
Market Size in 2028 (USD)
5.31 %
CAGR (2017-2023)
6.07 %
CAGR (2024-2028)
Largest Market by End-user Industry
19.79 %
value share, Packaging, 2023
Packaging is the dominant end-user industry in the market owing to adhesives widespread usage in laminating applications for flexible food packaging.
Largest Market by Technology
35.64 %
value share, Hot Melt, 2023
Hot melt is the largest technology type in the market owing to its wide range of applications across major end-user industries, including packaging, healthcare, automotive, and building and construction.
Largest Market by Country
54.68 %
value share, China, 2023
In Asia-Pacific, China holds the largest market share owing to the high usage of adhesives in the country's packaging, healthcare, automotive, and building and construction industries.
Fastest Growing Market by Country
6.71 %
Projected CAGR, India, 2024-2028
Due to the increasing population and rapid urbanization, India is likely to be the fastest-growing country in the market during the forecast period.
Leading Market Player
3.55 %
market share, Sika AG, 2021
Sika AG has been witnessing increasing volume sales in Asia-Pacific due to the popularity of its products, mainly in the automotive and building and construction industries.
Emerging automotive market in China and packaging end-use sector expected to boost the consumption of polyurethane adhesives in Asia-Pacific
- Polyurethane adhesives are widely used in the packaging industry. Polyurethane adhesives are used in food and beverage packaging, container packaging, end-of-line packaging for functional barrier applications, and metal packaging. The usage of polyurethane adhesive has been rising in packaging applications and registered growth rates of 4.76% and 2.2% in 2018 and 2019, respectively.
- The building and construction industry occupies a major share of the Asia-Pacific polyurethane adhesives market as polyurethane adhesives offer good cohesion, adhesion, and elasticity, high cohesive strength, flexibility, and a high elastic modulus of the substrate. China is the fastest-growing country in the Asia-Pacific region and is expected to register a CAGR of 5% during the period 2022 to 2028 in terms of consumption of polyurethane construction adhesives. The country recorded the highest demand for polyurethane construction adhesives owing to rising construction output, which amounted to USD 4.6 trillion in 2021, with a 10% growth over the previous year.
- Polyurethane adhesives are widely used in automotive applications. The adoption of electric four-wheelers in Asian markets will continue to be significant. In absolute terms, China is expected to become the largest EV market. On its current trajectory, China's adoption rate will approach 60%, and the country will account for more than 40% of global new EV sales by 2030, thus, boosting the demand for polyurethane automotive adhesives in the forecast period. Polyurethane adhesives are used in the healthcare industry for applications such as assembling medical device parts. The increase in healthcare investments across the Asia-Pacific region is expected to increase the demand for polyurethane adhesives in the forecast period.
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Rising construction, packaging, and automotive industries likely to propel the demand for polyurethane adhesives in the future
- From 2017 to 2021, the demand for polyurethane adhesives was the highest in Asia-Pacific among all regions. The share of adhesive demand from this region has consistently occupied 46-47% of the global demand because of the region's high manufacturing capacity of all end-user industries. Polyurethane adhesives with hot melt, water-borne, and solvent-borne technologies account for the highest demand in the region.
- From 2017 to 2019, the demand for adhesives from this region recorded a CAGR of 0.79%. The slow growth in the demand for polyurethane adhesives was due to a decrease in construction activities and automotive production in the region. The demand from these end-user industries declined with a CAGR of -2.4% and -2.25% in 2018 and 2019, respectively, during this period.
- In 2020, the demand from all end-user industries across the region declined due to constraints in operations, labor, raw material, supply chain, and other areas. Among all industries across all the countries in the region, the footwear industry in Australia took the worst hit, declining by 49.53% Y-o-Y in volume terms. The decrease in domestic demand because of low purchasing power resulting from a weak economy severely affected this industry during the pandemic.
- In 2021, the demand for polyurethane adhesives quickly rebounded to the pre-pandemic demand volumes as restrictions eased. The demand from India witnessed the highest Y-o-Y growth of 73.82% in volume terms. The overall demand from the Asia-Pacific region is expected to record a CAGR of 4.46% during the forecast period. This demand growth is expected to be driven by the region's construction, packaging, and automotive industries during the forecast period.
Asia-Pacific Polyurethane Adhesives Market Trends
Fast paced growth of e-commerce industry in developing nations to augment the industry
- Packaging is mainly used for protection, containment, information, utility, and promotion. This makes packaging an integral part of most industries. In 2017, packaging usage accounted for 2.5 billion ton of packaging, including paper and paperboard and plastic packaging. In 2020, due to the COVID-19 pandemic, the market registered a negative growth rate of 7.4% due to disruptions in the supply chain, shortage of packaging material, restrictions on the import and export of goods, and factories operating at low capacity.
- Governments of different Asian countries have taken steps to reduce the use of plastic, as China and Indonesia are the first and second-largest contributors to plastic waste in the ocean. China has announced new restrictions on excessive packaging, requiring all food and cosmetics producers to adhere to specific guidelines determining the volume of packaging allowed in proportion to a product. The extended producer responsibility (EPR) regulation imposed by the Indonesian government will oblige producers and retailers to redesign their product packaging to include a higher proportion of recyclable material.
- In 2021, the market registered a positive growth of 8%, with 2.7 billion ton of packaging material used for various purposes. The packaging industry is expected to keep growing due to the rising middle-income population, improvement of supply chains, and rising e-commerce activities, which have significantly boosted the packaging industry in the past few years as special packaging is required for shipping goods. The growing Asian market is expected to boost packaging usage, enabling it to register a CAGR of 5.7% during the forecast period (2022-2028).
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Raising investment to expand infrastructural activities will augment the industry size
- Asia-Pacific is driven by the world's major economies, such as China, Japan, and India. China is promoting and undergoing a process of continuous urbanization, with a target rate of 70% for 2030. The increased living spaces required in the urban areas resulting from increasing urbanization and the desire of middle-income urban residents to improve their living conditions may impact the housing market and, thereby, increase the residential constructions in the country.
- Non-residential infrastructure is likely to expand significantly. The Chinese government approved 26 infrastructure projects worth approximately USD 142 billion in 2019, with completion due in 2023. The country has the largest construction market globally, accounting for 20% of all worldwide construction investments. By 2030, the government plans to spend over USD 13 trillion on construction. Thus, the construction market is expected to register a 4.48% CAGR during the forecast period (2022-2028).
- The construction industry is one of the largest industries in Asia-Pacific and recorded promising growth in 2019. The industry continues to grow as the region constitutes many developing countries such as Vietnam, Malaysia, Indonesia, Thailand, and other South Asian countries. However, due to the COVID-19 pandemic, the construction sector witnessed a significant decline owing to lockdowns by governments across the region, which severely affected developing countries, including India, China, Japan, and ASEAN countries.
- The Asia-Pacific region is also witnessing significant interest from international investors in the construction space. Foreign Direct Investment (FDI) in the construction development sector is increasing as developing countries provide better returns and opportunities for investors.
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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- Rapid growth of civil aviation will propel the aerospace industry
- Large concentration of footwear exporters in the Asia-Pacific region will facilitate the industry growth
- Increasing adoption of electric vehicles to drive the industry
- High presence of furniture manufacturers in the Asia-Pacific region will propel the industry
Asia-Pacific Polyurethane Adhesives Industry Overview
The Asia-Pacific Polyurethane Adhesives Market is fragmented, with the top five companies occupying 11.98%. The major players in this market are 3M, Beijing Comens New Materials Co., Ltd., NANPAO RESINS CHEMICAL GROUP, Pidilite Industries Ltd. and Sika AG (sorted alphabetically).
Asia-Pacific Polyurethane Adhesives Market Leaders
3M
Beijing Comens New Materials Co., Ltd.
NANPAO RESINS CHEMICAL GROUP
Pidilite Industries Ltd.
Sika AG
Other important companies include H.B. Fuller Company, Henkel AG & Co. KGaA, Hubei Huitian New Materials Co. Ltd, Huntsman International LLC, Kangda New Materials (Group) Co., Ltd..
*Disclaimer: Major Players sorted in alphabetical order.
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Asia-Pacific Polyurethane Adhesives Market News
- December 2021: Sika planned to establish a new technology center and manufacturing factory for high-quality adhesives and sealants in Pune, India. The company primarily manufactures products for the transportation and construction industries through its three new production lines.
- September 2021: H.B. Fuller India launched a new food-based adhesive (Swift tak PS5600-I) to meet the rising demand for paper straws.
- July 2021: H.B. Fuller announced a strategic agreement with Covestro to offer sustainable adhesives in the market.
Free with this Report
We provide a complimentary and exhaustive set of data points on global and regional metrics that present the fundamental structure of the industry. Presented in the form of 24+ free charts, the section covers rare data on various end-user production trends including automobile production, newly built construction floor area, packaging production, aircraft deliveries, footwear production, and regional data on adhesives and sealants demand, etc.
Asia-Pacific Polyurethane Adhesives Market Report - Table of Contents
1. EXECUTIVE SUMMARY & KEY FINDINGS
2. REPORT OFFERS
3. INTRODUCTION
- 3.1 Study Assumptions & Market Definition
- 3.2 Scope of the Study
- 3.3 Research Methodology
4. KEY INDUSTRY TRENDS
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4.1 End User Trends
- 4.1.1 Aerospace
- 4.1.2 Automotive
- 4.1.3 Building and Construction
- 4.1.4 Footwear and Leather
- 4.1.5 Packaging
- 4.1.6 Woodworking and Joinery
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4.2 Regulatory Framework
- 4.2.1 Australia
- 4.2.2 China
- 4.2.3 India
- 4.2.4 Indonesia
- 4.2.5 Japan
- 4.2.6 Malaysia
- 4.2.7 Singapore
- 4.2.8 South Korea
- 4.2.9 Thailand
- 4.3 Value Chain & Distribution Channel Analysis
5. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2028 and analysis of growth prospects)
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5.1 End User Industry
- 5.1.1 Aerospace
- 5.1.2 Automotive
- 5.1.3 Building and Construction
- 5.1.4 Footwear and Leather
- 5.1.5 Healthcare
- 5.1.6 Packaging
- 5.1.7 Woodworking and Joinery
- 5.1.8 Other End-user Industries
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5.2 Technology
- 5.2.1 Hot Melt
- 5.2.2 Reactive
- 5.2.3 Solvent-borne
- 5.2.4 UV Cured Adhesives
- 5.2.5 Water-borne
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5.3 Country
- 5.3.1 Australia
- 5.3.2 China
- 5.3.3 India
- 5.3.4 Indonesia
- 5.3.5 Japan
- 5.3.6 Malaysia
- 5.3.7 Singapore
- 5.3.8 South Korea
- 5.3.9 Thailand
- 5.3.10 Rest of Asia-Pacific
6. COMPETITIVE LANDSCAPE
- 6.1 Key Strategic Moves
- 6.2 Market Share Analysis
- 6.3 Company Landscape
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6.4 Company Profiles (includes Global Level Overview, Market Level Overview, Core Business Segments, Financials, Headcount, Key Information, Market Rank, Market Share, Products and Services, and Analysis of Recent Developments).
- 6.4.1 3M
- 6.4.2 Beijing Comens New Materials Co., Ltd.
- 6.4.3 H.B. Fuller Company
- 6.4.4 Henkel AG & Co. KGaA
- 6.4.5 Hubei Huitian New Materials Co. Ltd
- 6.4.6 Huntsman International LLC
- 6.4.7 Kangda New Materials (Group) Co., Ltd.
- 6.4.8 NANPAO RESINS CHEMICAL GROUP
- 6.4.9 Pidilite Industries Ltd.
- 6.4.10 Sika AG
7. KEY STRATEGIC QUESTIONS FOR ADHESIVES AND SEALANTS CEOS
8. APPENDIX
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8.1 Global Adhesives and Sealants Industry Overview
- 8.1.1 Overview
- 8.1.2 Porter’s Five Forces Framework (Industry Attractiveness Analysis)
- 8.1.3 Global Value Chain Analysis
- 8.1.4 Drivers, Restraints, and Opportunities
- 8.2 Sources & References
- 8.3 List of Tables & Figures
- 8.4 Primary Insights
- 8.5 Data Pack
- 8.6 Glossary of Terms
List of Tables & Figures
- Figure 1:
- VOLUME OF AIRCRAFTS DELIVERED, UNITS, ASIA-PACIFIC, 2017-2028
- Figure 2:
- PRODUCTION VOLUME OF AUTOMOBILES, UNITS, ASIA-PACIFIC, 2017-2028
- Figure 3:
- FLOOR AREA OF NEW CONSTRUCTION, SQUARE FEET, ASIA-PACIFIC, 2017-2028
- Figure 4:
- PRODUCTION VOLUME OF FOOTWEAR, PAIRS, ASIA-PACIFIC, 2017-2028
- Figure 5:
- PRODUCTION VOLUME OF PAPER & PAPER BOARD AND PLASTIC PACKAGING, TONS, ASIA-PACIFIC, 2017-2028
- Figure 6:
- PRODUCTION VOLUME OF FURNITURE, UNITS, ASIA-PACIFIC, 2017-2028
- Figure 7:
- VOLUME OF POLYURETHANE ADHESIVES CONSUMED, KILOGRAM, ASIA-PACIFIC, 2017 - 2028
- Figure 8:
- VALUE OF POLYURETHANE ADHESIVES CONSUMED, USD, ASIA-PACIFIC, 2017 - 2028
- Figure 9:
- VOLUME OF POLYURETHANE ADHESIVES CONSUMED BY END USER INDUSTRY, KILOGRAM, ASIA-PACIFIC, 2017 - 2028
- Figure 10:
- VALUE OF POLYURETHANE ADHESIVES CONSUMED BY END USER INDUSTRY, USD, ASIA-PACIFIC, 2017 - 2028
- Figure 11:
- VOLUME SHARE OF POLYURETHANE ADHESIVES CONSUMED BY END USER INDUSTRY, %, ASIA-PACIFIC, 2016 VS 2022 VS 2028
- Figure 12:
- VALUE SHARE OF POLYURETHANE ADHESIVES CONSUMED BY END USER INDUSTRY, %, ASIA-PACIFIC, 2016 VS 2022 VS 2028
- Figure 13:
- VOLUME OF POLYURETHANE ADHESIVES CONSUMED IN AEROSPACE INDUSTRY, KILOGRAM, ASIA-PACIFIC, 2017 - 2028
- Figure 14:
- VALUE OF POLYURETHANE ADHESIVES CONSUMED IN AEROSPACE INDUSTRY, USD, ASIA-PACIFIC, 2017 - 2028
- Figure 15:
- VALUE SHARE OF POLYURETHANE ADHESIVES CONSUMED IN AEROSPACE INDUSTRY BY TECHNOLOGY, %, ASIA-PACIFIC, 2021 VS 2028
- Figure 16:
- VOLUME OF POLYURETHANE ADHESIVES CONSUMED IN AUTOMOTIVE INDUSTRY, KILOGRAM, ASIA-PACIFIC, 2017 - 2028
- Figure 17:
- VALUE OF POLYURETHANE ADHESIVES CONSUMED IN AUTOMOTIVE INDUSTRY, USD, ASIA-PACIFIC, 2017 - 2028
- Figure 18:
- VALUE SHARE OF POLYURETHANE ADHESIVES CONSUMED IN AUTOMOTIVE INDUSTRY BY TECHNOLOGY, %, ASIA-PACIFIC, 2021 VS 2028
- Figure 19:
- VOLUME OF POLYURETHANE ADHESIVES CONSUMED IN BUILDING AND CONSTRUCTION INDUSTRY, KILOGRAM, ASIA-PACIFIC, 2017 - 2028
- Figure 20:
- VALUE OF POLYURETHANE ADHESIVES CONSUMED IN BUILDING AND CONSTRUCTION INDUSTRY, USD, ASIA-PACIFIC, 2017 - 2028
- Figure 21:
- VALUE SHARE OF POLYURETHANE ADHESIVES CONSUMED IN BUILDING AND CONSTRUCTION INDUSTRY BY TECHNOLOGY, %, ASIA-PACIFIC, 2021 VS 2028
- Figure 22:
- VOLUME OF POLYURETHANE ADHESIVES CONSUMED IN FOOTWEAR AND LEATHER INDUSTRY, KILOGRAM, ASIA-PACIFIC, 2017 - 2028
- Figure 23:
- VALUE OF POLYURETHANE ADHESIVES CONSUMED IN FOOTWEAR AND LEATHER INDUSTRY, USD, ASIA-PACIFIC, 2017 - 2028
- Figure 24:
- VALUE SHARE OF POLYURETHANE ADHESIVES CONSUMED IN FOOTWEAR AND LEATHER INDUSTRY BY TECHNOLOGY, %, ASIA-PACIFIC, 2021 VS 2028
- Figure 25:
- VOLUME OF POLYURETHANE ADHESIVES CONSUMED IN HEALTHCARE INDUSTRY, KILOGRAM, ASIA-PACIFIC, 2017 - 2028
- Figure 26:
- VALUE OF POLYURETHANE ADHESIVES CONSUMED IN HEALTHCARE INDUSTRY, USD, ASIA-PACIFIC, 2017 - 2028
- Figure 27:
- VALUE SHARE OF POLYURETHANE ADHESIVES CONSUMED IN HEALTHCARE INDUSTRY BY TECHNOLOGY, %, ASIA-PACIFIC, 2021 VS 2028
- Figure 28:
- VOLUME OF POLYURETHANE ADHESIVES CONSUMED IN PACKAGING INDUSTRY, KILOGRAM, ASIA-PACIFIC, 2017 - 2028
- Figure 29:
- VALUE OF POLYURETHANE ADHESIVES CONSUMED IN PACKAGING INDUSTRY, USD, ASIA-PACIFIC, 2017 - 2028
- Figure 30:
- VALUE SHARE OF POLYURETHANE ADHESIVES CONSUMED IN PACKAGING INDUSTRY BY TECHNOLOGY, %, ASIA-PACIFIC, 2021 VS 2028
- Figure 31:
- VOLUME OF POLYURETHANE ADHESIVES CONSUMED IN WOODWORKING AND JOINERY INDUSTRY, KILOGRAM, ASIA-PACIFIC, 2017 - 2028
- Figure 32:
- VALUE OF POLYURETHANE ADHESIVES CONSUMED IN WOODWORKING AND JOINERY INDUSTRY, USD, ASIA-PACIFIC, 2017 - 2028
- Figure 33:
- VALUE SHARE OF POLYURETHANE ADHESIVES CONSUMED IN WOODWORKING AND JOINERY INDUSTRY BY TECHNOLOGY, %, ASIA-PACIFIC, 2021 VS 2028
- Figure 34:
- VOLUME OF POLYURETHANE ADHESIVES CONSUMED IN OTHER END-USER INDUSTRIES INDUSTRY, KILOGRAM, ASIA-PACIFIC, 2017 - 2028
- Figure 35:
- VALUE OF POLYURETHANE ADHESIVES CONSUMED IN OTHER END-USER INDUSTRIES INDUSTRY, USD, ASIA-PACIFIC, 2017 - 2028
- Figure 36:
- VALUE SHARE OF POLYURETHANE ADHESIVES CONSUMED IN OTHER END-USER INDUSTRIES INDUSTRY BY TECHNOLOGY, %, ASIA-PACIFIC, 2021 VS 2028
- Figure 37:
- VOLUME OF POLYURETHANE ADHESIVES CONSUMED BY TECHNOLOGY, KILOGRAM, ASIA-PACIFIC, 2017 - 2028
- Figure 38:
- VALUE OF POLYURETHANE ADHESIVES CONSUMED BY TECHNOLOGY, USD, ASIA-PACIFIC, 2017 - 2028
- Figure 39:
- VOLUME SHARE OF POLYURETHANE ADHESIVES CONSUMED BY TECHNOLOGY, %, ASIA-PACIFIC, 2016 VS 2022 VS 2028
- Figure 40:
- VALUE SHARE OF POLYURETHANE ADHESIVES CONSUMED BY TECHNOLOGY, %, ASIA-PACIFIC, 2016 VS 2022 VS 2028
- Figure 41:
- VOLUME OF HOT MELT POLYURETHANE ADHESIVES CONSUMED, KILOGRAM, ASIA-PACIFIC, 2017 - 2028
- Figure 42:
- VALUE OF HOT MELT POLYURETHANE ADHESIVES CONSUMED, USD, ASIA-PACIFIC, 2017 - 2028
- Figure 43:
- VALUE SHARE OF HOT MELT POLYURETHANE ADHESIVES CONSUMED BY END USER INDUSTRY, %, ASIA-PACIFIC, 2021 VS 2028
- Figure 44:
- VOLUME OF REACTIVE POLYURETHANE ADHESIVES CONSUMED, KILOGRAM, ASIA-PACIFIC, 2017 - 2028
- Figure 45:
- VALUE OF REACTIVE POLYURETHANE ADHESIVES CONSUMED, USD, ASIA-PACIFIC, 2017 - 2028
- Figure 46:
- VALUE SHARE OF REACTIVE POLYURETHANE ADHESIVES CONSUMED BY END USER INDUSTRY, %, ASIA-PACIFIC, 2021 VS 2028
- Figure 47:
- VOLUME OF SOLVENT-BORNE POLYURETHANE ADHESIVES CONSUMED, KILOGRAM, ASIA-PACIFIC, 2017 - 2028
- Figure 48:
- VALUE OF SOLVENT-BORNE POLYURETHANE ADHESIVES CONSUMED, USD, ASIA-PACIFIC, 2017 - 2028
- Figure 49:
- VALUE SHARE OF SOLVENT-BORNE POLYURETHANE ADHESIVES CONSUMED BY END USER INDUSTRY, %, ASIA-PACIFIC, 2021 VS 2028
- Figure 50:
- VOLUME OF UV CURED ADHESIVES POLYURETHANE ADHESIVES CONSUMED, KILOGRAM, ASIA-PACIFIC, 2017 - 2028
- Figure 51:
- VALUE OF UV CURED ADHESIVES POLYURETHANE ADHESIVES CONSUMED, USD, ASIA-PACIFIC, 2017 - 2028
- Figure 52:
- VALUE SHARE OF UV CURED ADHESIVES POLYURETHANE ADHESIVES CONSUMED BY END USER INDUSTRY, %, ASIA-PACIFIC, 2021 VS 2028
- Figure 53:
- VOLUME OF WATER-BORNE POLYURETHANE ADHESIVES CONSUMED, KILOGRAM, ASIA-PACIFIC, 2017 - 2028
- Figure 54:
- VALUE OF WATER-BORNE POLYURETHANE ADHESIVES CONSUMED, USD, ASIA-PACIFIC, 2017 - 2028
- Figure 55:
- VALUE SHARE OF WATER-BORNE POLYURETHANE ADHESIVES CONSUMED BY END USER INDUSTRY, %, ASIA-PACIFIC, 2021 VS 2028
- Figure 56:
- VOLUME OF POLYURETHANE ADHESIVES CONSUMED BY COUNTRY, KILOGRAM, ASIA-PACIFIC, 2017 - 2028
- Figure 57:
- VALUE OF POLYURETHANE ADHESIVES CONSUMED BY COUNTRY, USD, ASIA-PACIFIC, 2017 - 2028
- Figure 58:
- VOLUME SHARE OF POLYURETHANE ADHESIVES CONSUMED BY COUNTRY, %, ASIA-PACIFIC, 2016 VS 2022 VS 2028
- Figure 59:
- VALUE SHARE OF POLYURETHANE ADHESIVES CONSUMED BY COUNTRY, %, ASIA-PACIFIC, 2016 VS 2022 VS 2028
- Figure 60:
- VOLUME OF POLYURETHANE ADHESIVES CONSUMED, KILOGRAM, AUSTRALIA, 2017 - 2028
- Figure 61:
- VALUE OF POLYURETHANE ADHESIVES CONSUMED, USD, AUSTRALIA, 2017 - 2028
- Figure 62:
- VALUE SHARE OF POLYURETHANE ADHESIVES CONSUMED BY END USER INDUSTRY, %, AUSTRALIA, 2021 VS 2028
- Figure 63:
- VOLUME OF POLYURETHANE ADHESIVES CONSUMED, KILOGRAM, CHINA, 2017 - 2028
- Figure 64:
- VALUE OF POLYURETHANE ADHESIVES CONSUMED, USD, CHINA, 2017 - 2028
- Figure 65:
- VALUE SHARE OF POLYURETHANE ADHESIVES CONSUMED BY END USER INDUSTRY, %, CHINA, 2021 VS 2028
- Figure 66:
- VOLUME OF POLYURETHANE ADHESIVES CONSUMED, KILOGRAM, INDIA, 2017 - 2028
- Figure 67:
- VALUE OF POLYURETHANE ADHESIVES CONSUMED, USD, INDIA, 2017 - 2028
- Figure 68:
- VALUE SHARE OF POLYURETHANE ADHESIVES CONSUMED BY END USER INDUSTRY, %, INDIA, 2021 VS 2028
- Figure 69:
- VOLUME OF POLYURETHANE ADHESIVES CONSUMED, KILOGRAM, INDONESIA, 2017 - 2028
- Figure 70:
- VALUE OF POLYURETHANE ADHESIVES CONSUMED, USD, INDONESIA, 2017 - 2028
- Figure 71:
- VALUE SHARE OF POLYURETHANE ADHESIVES CONSUMED BY END USER INDUSTRY, %, INDONESIA, 2021 VS 2028
- Figure 72:
- VOLUME OF POLYURETHANE ADHESIVES CONSUMED, KILOGRAM, JAPAN, 2017 - 2028
- Figure 73:
- VALUE OF POLYURETHANE ADHESIVES CONSUMED, USD, JAPAN, 2017 - 2028
- Figure 74:
- VALUE SHARE OF POLYURETHANE ADHESIVES CONSUMED BY END USER INDUSTRY, %, JAPAN, 2021 VS 2028
- Figure 75:
- VOLUME OF POLYURETHANE ADHESIVES CONSUMED, KILOGRAM, MALAYSIA, 2017 - 2028
- Figure 76:
- VALUE OF POLYURETHANE ADHESIVES CONSUMED, USD, MALAYSIA, 2017 - 2028
- Figure 77:
- VALUE SHARE OF POLYURETHANE ADHESIVES CONSUMED BY END USER INDUSTRY, %, MALAYSIA, 2021 VS 2028
- Figure 78:
- VOLUME OF POLYURETHANE ADHESIVES CONSUMED, KILOGRAM, SINGAPORE, 2017 - 2028
- Figure 79:
- VALUE OF POLYURETHANE ADHESIVES CONSUMED, USD, SINGAPORE, 2017 - 2028
- Figure 80:
- VALUE SHARE OF POLYURETHANE ADHESIVES CONSUMED BY END USER INDUSTRY, %, SINGAPORE, 2021 VS 2028
- Figure 81:
- VOLUME OF POLYURETHANE ADHESIVES CONSUMED, KILOGRAM, SOUTH KOREA, 2017 - 2028
- Figure 82:
- VALUE OF POLYURETHANE ADHESIVES CONSUMED, USD, SOUTH KOREA, 2017 - 2028
- Figure 83:
- VALUE SHARE OF POLYURETHANE ADHESIVES CONSUMED BY END USER INDUSTRY, %, SOUTH KOREA, 2021 VS 2028
- Figure 84:
- VOLUME OF POLYURETHANE ADHESIVES CONSUMED, KILOGRAM, THAILAND, 2017 - 2028
- Figure 85:
- VALUE OF POLYURETHANE ADHESIVES CONSUMED, USD, THAILAND, 2017 - 2028
- Figure 86:
- VALUE SHARE OF POLYURETHANE ADHESIVES CONSUMED BY END USER INDUSTRY, %, THAILAND, 2021 VS 2028
- Figure 87:
- VOLUME OF POLYURETHANE ADHESIVES CONSUMED, KILOGRAM, REST OF ASIA-PACIFIC, 2017 - 2028
- Figure 88:
- VALUE OF POLYURETHANE ADHESIVES CONSUMED, USD, REST OF ASIA-PACIFIC, 2017 - 2028
- Figure 89:
- VALUE SHARE OF POLYURETHANE ADHESIVES CONSUMED BY END USER INDUSTRY, %, REST OF ASIA-PACIFIC, 2021 VS 2028
- Figure 90:
- MOST ACTIVE COMPANIES BY NUMBER OF STRATEGIC MOVES, ASIA-PACIFIC, 2019 - 2021
- Figure 91:
- MOST ADOPTED STRATEGIES, COUNT, ASIA-PACIFIC, 2019 - 2021
- Figure 92:
- REVENUE SHARE OF POLYURETHANE ADHESIVES BY MAJOR PLAYERS, %, ASIA-PACIFIC, 2021
Asia-Pacific Polyurethane Adhesives Industry Segmentation
Aerospace, Automotive, Building and Construction, Footwear and Leather, Healthcare, Packaging, Woodworking and Joinery are covered as segments by End User Industry. Hot Melt, Reactive, Solvent-borne, UV Cured Adhesives, Water-borne are covered as segments by Technology. Australia, China, India, Indonesia, Japan, Malaysia, Singapore, South Korea, Thailand are covered as segments by Country.
- Polyurethane adhesives are widely used in the packaging industry. Polyurethane adhesives are used in food and beverage packaging, container packaging, end-of-line packaging for functional barrier applications, and metal packaging. The usage of polyurethane adhesive has been rising in packaging applications and registered growth rates of 4.76% and 2.2% in 2018 and 2019, respectively.
- The building and construction industry occupies a major share of the Asia-Pacific polyurethane adhesives market as polyurethane adhesives offer good cohesion, adhesion, and elasticity, high cohesive strength, flexibility, and a high elastic modulus of the substrate. China is the fastest-growing country in the Asia-Pacific region and is expected to register a CAGR of 5% during the period 2022 to 2028 in terms of consumption of polyurethane construction adhesives. The country recorded the highest demand for polyurethane construction adhesives owing to rising construction output, which amounted to USD 4.6 trillion in 2021, with a 10% growth over the previous year.
- Polyurethane adhesives are widely used in automotive applications. The adoption of electric four-wheelers in Asian markets will continue to be significant. In absolute terms, China is expected to become the largest EV market. On its current trajectory, China's adoption rate will approach 60%, and the country will account for more than 40% of global new EV sales by 2030, thus, boosting the demand for polyurethane automotive adhesives in the forecast period. Polyurethane adhesives are used in the healthcare industry for applications such as assembling medical device parts. The increase in healthcare investments across the Asia-Pacific region is expected to increase the demand for polyurethane adhesives in the forecast period.
| End User Industry | Aerospace |
| Automotive | |
| Building and Construction | |
| Footwear and Leather | |
| Healthcare | |
| Packaging | |
| Woodworking and Joinery | |
| Other End-user Industries | |
| Technology | Hot Melt |
| Reactive | |
| Solvent-borne | |
| UV Cured Adhesives | |
| Water-borne | |
| Country | Australia |
| China | |
| India | |
| Indonesia | |
| Japan | |
| Malaysia | |
| Singapore | |
| South Korea | |
| Thailand | |
| Rest of Asia-Pacific |
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Market Definition
- End-user Industry - Building & Construction, Packaging, Automotive, Aerospace, Woodworking & Joinery, Footwear & Leather, Healthcare, and Others are the end-user industries considered under the polyurethane adhesives market.
- Product - All polyurethane adhesive products are considered in the market studied
- Resin - Under the scope of the study, thermoset and thermoplastic based polyurethanes are considered
- Technology - For the purpose of this study, Water-borne, Solvent-borne, Reactive, Hot Melt, and UV Cured adhesive technologies are taken into consideration.
| Keyword | Definition |
|---|---|
| Hot-melt Adhesive | Hot melt adhesives are generally 100% solid formulations, based on thermoplastic polymers. They are solid at room temperature and are activated upon heating above their softening point, at which stage they are liquid, and hence, can be processed. |
| Reactive Adhesive | A reactive adhesive is made up of monomers that react in the adhesive curing process and do not evaporate from the film during use. Instead, these volatile components become chemically incorporated into the adhesive. |
| Solvent-borne Adhesive | Solvent-borne adhesives are mixtures of solvents and thermoplastic, or slightly cross-linked polymers, such as polychloroprene, polyurethane, acrylic, silicone, and natural and synthetic rubbers (elastomers). |
| Water-borne Adhesive | Water-borne adhesives use water as a carrier or diluting medium to disperse a resin. They are set by allowing the water to evaporate or be absorbed by the substrate. These adhesives are compounded with water as a diluent, rather than a volatile organic solvent. |
| UV Cured Adhesive | UV curing adhesives induce curing and create a permanent bond without heating by using ultraviolet (UV) light or other radiation sources. An aggregation of monomers and oligomers is cured or polymerized by ultraviolet (UV) or visible light in a UV adhesive. Because UV is a radiating energy source, UV adhesives are often referred to as radiation curing or rad-cure adhesives. |
| Heat-resistant Adhesive | Heat-resistant Adhesives refer to those that do not break down under high temperatures. One aspect of a complicated system of circumstances is the adhesive's capacity to withstand disintegration brought on by high temperatures. As the temperature rises, adhesives may liquefy. They can withstand stresses resulting from differing coefficients of expansion and contraction, which might be an additional advantage. |
| Reshoring | Reshoring is the practice of moving commodity production and manufacturing back to the nation where the business was founded. Onshoring, inshoring, and back shoring are further terms used. Offshoring, the practice of producing items abroad to lower labor and manufacturing costs, is the opposite of this. |
| Oleochemicals | Oleochemicals are compounds produced from biological oils or fats. They resemble petrochemicals, which are substances made from petroleum. The oleochemical business is built on the hydrolysis of oils or fats. |
| Nonporous Materials | Nonporous materials are substances that do not permit the passage of liquid or air. Nonporous materials are those that are not porous, such as glass, plastic, metal, and varnished wood. Since no air can get through, less airflow is required to raise these materials, negating the requirement for high airflow. |
| EU-Vietnam Free Trade Agreement | A trade agreement and an investment protection agreement were concluded between the European Union and Vietnam on June 30, 2019. |
| VOC content | Compounds with limited solubility in water and high vapor pressure are known as Volatile Organic Compounds (VOCs). Many VOCs are human-made chemicals that are used and produced in the manufacture of paints, pharmaceuticals, and refrigerants. |
| Emulsion Polymerization | Emulsion polymerization is a method of producing polymers or connected groups of smaller chemical chains known as monomers, in a water solution. The method is often used to make water-based paints, adhesives, and varnishes, in which the water stays with the polymer and is marketed as a liquid product. |
| 2025 National Packaging Targets | In 2018, the Australian Environment Ministry set the following 2025 National Packaging Targets: 100% of the packaging must be reusable, recyclable, or compostable by 2025, 70% of plastic packaging must be recycled or composted by 2025, 50% of average recycled content must be included in packaging by 2025, and problematic and unnecessary single-use plastic packaging must be phased out by 2025. |
| Russian Government’s Import Substitution Policy | The Western sanctions suspended the distribution of several high-tech items to Russia, including those required by the raw material export sectors and the military-industrial complex. In response, the government launched an "import substitution" scheme, appointing a special commission to oversee its implementation in early 2015. |
| Paper Substrate | Paper substrates are paper sheets, reels, or boards with a base weight of up to 400 g/m2 that has not been converted, printed or otherwise altered. |
| Insulation Material | A material that inhibits or blocks heat, sound, or electrical transmission is known as Insulation Material. The variety of insulation materials includes thick fibers like fiberglass, rock and slag wool, cellulose, and natural fibers as well as stiff foam boards and sleek foils. |
| Thermal Shock | A temperature change known as thermal shock generates stress in a material. It commonly results in material breakdown and is especially prevalent in brittle materials like ceramics. When there is a quick temperature change, either from hot to cold or vice versa, this process occurs abruptly. It occurs more frequently in materials with poor heat conductivity and insufficient structural integrity. |
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Research Methodology
Mordor Intelligence follows a four-step methodology in all our reports.
- Step-1: Identify Key Variables: The quantifiable key variables (industry and extraneous) pertaining to the specific product segment and country are selected from a group of relevant variables & factors based on desk research & literature review; along with primary expert inputs. These variables are further confirmed through regression modeling (wherever required).
- Step-2: Build a Market Model: In order to build a robust forecasting methodology, the variables and factors identified in Step-1 are tested against available historical market numbers. Through an iterative process, the variables required for market forecast are set and the model is built on the basis of these variables.
- Step-3: Validate and Finalize: In this important step, all market numbers, variables and analyst calls are validated through an extensive network of primary research experts from the market studied. The respondents are selected across levels and functions to generate a holistic picture of the market studied.
- Step-4: Research Outputs: Syndicated Reports, Custom Consulting Assignments, Databases & Subscription Platforms
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