Market Size of Asia-Pacific Polyurethane (PU) Hot-melt Adhesives Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
Forecast Data Period | 2024 - 2029 |
Historical Data Period | 2019 - 2022 |
CAGR | 9.00 % |
Market Concentration | High |
Major Players*Disclaimer: Major Players sorted in no particular order |
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APAC Polyurethane Hot-Melt Adhesives Market Analysis
The Asia-Pacific polyurethane hot-melt adhesives market is estimated to witness a significant growth, at an estimated CAGR of over 9%, over the forecast period. Increasing demand from the packaging industry in the region and increasing usage of PUR holt-melt adhesives as a substitute for solvent-borne adhesives are expected to drive the market during the forecast period.
- Adoption of bio-based hot-melt adhesives are projected to create opportunities to the market growth in the coming years.
- China is expected to dominate the market and is also expected to witness the fastest CAGR during the forecast period.
APAC Polyurethane Hot-Melt Adhesives Industry Segmentation
The Asia-Pacific polyurethane (PU) hot-melt adhesives market report includes:
Type | |
Non-reactive | |
Reactive |
Application | |
Paper, Board, and Packaging | |
Healthcare | |
Automotive | |
Furniture (Woodworking) | |
Footwear | |
Textiles | |
Electrical and Electronics | |
Bookbinding | |
Other Applications |
Geography | |
China | |
India | |
Japan | |
South Korea | |
ASEAN Countries | |
Rest of Asia-Pacific |
Asia-Pacific Polyurethane (PU) Hot-melt Adhesives Market Size Summary
The Asia-Pacific polyurethane hot-melt adhesives market is poised for substantial growth, driven by increasing demand from the packaging industry and the shift towards PUR hot-melt adhesives as alternatives to solvent-borne adhesives. The adoption of bio-based hot-melt adhesives is expected to further propel market expansion. China is anticipated to lead the market, experiencing rapid growth due to its robust packaging and footwear industries, which are bolstered by rising consumer demand and supportive government policies. The versatility of polyurethane hot-melt adhesives in automotive applications, such as bonding various materials and components, along with their quick cooling and high resistance properties, contributes to their growing popularity across different sectors.
The market landscape is partially consolidated, with key players like 3M, Arkema Group, H.B. Fuller Company, Henkel AG & Co. KGaA, and Sika AG playing significant roles. Despite potential challenges from international trade issues and geopolitical tensions, the market is expected to maintain a positive trajectory, supported by advancements in application technologies and the increasing use of these adhesives in lamination and other industrial processes. The ability of hot-melt PUR adhesives to perform under extreme conditions and their efficiency in application processes are key factors driving their adoption in the region.
Asia-Pacific Polyurethane (PU) Hot-melt Adhesives Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Drivers
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1.1.1 Increasing Demand from the Packaging and Electronics Industries
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1.1.2 Increasing Usage of PUR holt-melt adhesives as a Substitute for Solvent-borne Adhesives
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1.1.3 Other Drivers
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1.2 Restraints
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1.2.1 Impact of COVID-19 Pandemic on Global Economy
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1.3 Industry Value Chain Analysis
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Consumers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Degree of Competition
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2. MARKET SEGMENTATION
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2.1 Type
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2.1.1 Non-reactive
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2.1.2 Reactive
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2.2 Application
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2.2.1 Paper, Board, and Packaging
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2.2.2 Healthcare
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2.2.3 Automotive
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2.2.4 Furniture (Woodworking)
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2.2.5 Footwear
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2.2.6 Textiles
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2.2.7 Electrical and Electronics
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2.2.8 Bookbinding
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2.2.9 Other Applications
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2.3 Geography
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2.3.1 China
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2.3.2 India
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2.3.3 Japan
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2.3.4 South Korea
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2.3.5 ASEAN Countries
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2.3.6 Rest of Asia-Pacific
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Asia-Pacific Polyurethane (PU) Hot-melt Adhesives Market Size FAQs
What is the current Asia-Pacific Polyurethane (PU) Hot-melt Adhesives Market size?
The Asia-Pacific Polyurethane (PU) Hot-melt Adhesives Market is projected to register a CAGR of greater than 9% during the forecast period (2024-2029)
Who are the key players in Asia-Pacific Polyurethane (PU) Hot-melt Adhesives Market?
3M, Arkema Group, H.B. Fuller Company, Henkel AG & Co. KGaA and Sika AG are the major companies operating in the Asia-Pacific Polyurethane (PU) Hot-melt Adhesives Market.