Market Size of asia-pacific polyurethane adhesives Industry
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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.
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 Industry Segmentation 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 |
Asia-Pacific Polyurethane Adhesives Market Size Summary
The Asia-Pacific polyurethane adhesives market is experiencing robust growth, driven by its extensive application across various industries such as packaging, construction, automotive, and healthcare. The packaging industry, in particular, is a significant consumer of polyurethane adhesives, utilizing them for food and beverage packaging, container packaging, and metal packaging, among other applications. The building and construction sector also plays a crucial role in the market's expansion, with polyurethane adhesives being favored for their superior adhesion, flexibility, and strength properties. China stands out as a key player in the region, with its rapid urbanization and substantial construction activities fueling the demand for these adhesives. Additionally, the automotive industry is witnessing increased adoption of polyurethane adhesives, particularly with the rise of electric vehicles in Asian markets, further propelling market growth.
The market's trajectory is supported by the region's high manufacturing capacity and the increasing demand from end-user industries. Despite challenges such as the COVID-19 pandemic, which temporarily disrupted supply chains and reduced demand, the market has rebounded, with significant growth observed in countries like India. The Asia-Pacific region's commitment to reducing plastic use and enhancing packaging sustainability is also influencing market dynamics, with governments implementing regulations to promote recyclable materials. The market remains fragmented, with major players like 3M, Beijing Comens New Materials Co., Ltd., and Sika AG actively expanding their operations and product offerings to meet the growing demand. As the region continues to develop, the polyurethane adhesives market is poised for sustained growth, driven by ongoing industrial advancements and increasing investment in infrastructure and technology.
Asia-Pacific Polyurethane Adhesives Market Size - Table of Contents
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1. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2028 and analysis of growth prospects)
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1.1 End User Industry
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1.1.1 Aerospace
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1.1.2 Automotive
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1.1.3 Building and Construction
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1.1.4 Footwear and Leather
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1.1.5 Healthcare
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1.1.6 Packaging
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1.1.7 Woodworking and Joinery
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1.1.8 Other End-user Industries
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1.2 Technology
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1.2.1 Hot Melt
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1.2.2 Reactive
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1.2.3 Solvent-borne
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1.2.4 UV Cured Adhesives
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1.2.5 Water-borne
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1.3 Country
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1.3.1 Australia
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1.3.2 China
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1.3.3 India
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1.3.4 Indonesia
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1.3.5 Japan
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1.3.6 Malaysia
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1.3.7 Singapore
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1.3.8 South Korea
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1.3.9 Thailand
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1.3.10 Rest of Asia-Pacific
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Asia-Pacific Polyurethane Adhesives Market Size FAQs
How big is the Asia-Pacific Polyurethane Adhesives Market?
The Asia-Pacific Polyurethane Adhesives Market size is expected to reach USD 6.18 billion in 2024 and grow at a CAGR of 6.07% to reach USD 7.82 billion by 2028.
What is the current Asia-Pacific Polyurethane Adhesives Market size?
In 2024, the Asia-Pacific Polyurethane Adhesives Market size is expected to reach USD 6.18 billion.
