PUNE, India, September 8, 2016 /PRNewswire/ --
The report "Polyurethane Adhesives Market by Technology (Solventborne, Reactive, Dispersion, and Hot Melt), Type (Thermoset & Thermoplastic), Application (Building & Construction, Packaging, Automotive, Footwear, Electrical & Electronics, and Furniture) - Global Forecast to 2021", published by MarketsandMarkets, The market size is estimated to reach USD 9.38 Billion by 2021, registering a CAGR of 6.8% between 2016 and 2021.
Browse 123 market data Tables and 54 Figures spread through 200 Pages and in-depth TOC on "Polyurethane Adhesives Market"
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Growth in the building & construction industry of Europe and North America, increased usage of these adhesives in vehicles for ensuring lightweight and fuel efficiency, and emerging demand from the developing countries of Asia-Pacific and the Middle East & Africa drive the market.
Building & construction: The most dominant application segment in the PU adhesives market
Building & construction application dominates the market and occupies the highest share in the PU adhesives market. The main market for building & construction includes the U.S., Germany, China, Japan, South Korea, and India. Application of PU adhesives has increased due to the rapidly growing construction industry and high demand from customers. A single-component PU adhesive used for adhesive bonds is environmentally safe, not harmful to health, and invisible.
Thermoplastic: The fastest-growing type segment of the PU adhesives market
The thermoplastic segment is growing at a faster rate than thermoset PU adhesives, in terms of value and volume. Thermoplastic PU adhesives are the benchmark products that are being increasingly used for their adjustable sealing temperature; adhesion to substrates such as leather, wood, metals, rigid and plasticized PVC, and rubbers; formulation versatility; and high hot tack properties. It is widely used for structural and load bearing applications. However, these adhesives are more expensive.
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The Indian automotive industry is witnessing a phase of rapid transformation and growth, mainly driven by stable economic growth and infrastructure development. The industry has emerged as the seventh largest in the world. The auto components industry of the country is also developing rapidly to compliment the growth of the automotive industry. India is a global sourcing hub for the key automotive companies owing to its rapidly increasing demand. In India, healthy economic growth, changing consumer preferences, improvement in the standard of living and increased spending on infrastructure in the automotive and electronics segments are expected to drive the PU adhesives market.
Key market players in the PU adhesives market
The key players in this market are 3M (U.S.), Arkema S.A. (France), Ashland Inc. (U.S.), H.B. Fuller (U.S.), Henkel AG & Co. (Germany), Huntsman Corporation (U.S.), Illinois Tool Works Inc. (U.S.), Scott Bader Company Ltd. (U.K.), Sika AG (Switzerland), and The Dow Chemical Company (U.S.).
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