Polyurethane Adhesives Market: Global Demand Analysis & Opportunity Outlook 2036
Research Nester’s recent market research analysis on “Polyurethane Adhesives Market: Global Demand Analysis & Opportunity Outlook 2036” delivers a detailed competitors analysis and a detailed overview of the global polyurethane adhesives market in terms of market segmentation by type, technology, application, and by region.
Growing Concern for the Prevalence for safety, carbon emissions, and lightweight automobiles to Promote Global Market Share of Polyurethane Adhesives
The growth of this market can be attributed to growing demand for lightweight materials and fuel efficient vehicles, as well as increasing government regulations and the need for safety, carbon emissions and lightweight vehicles. The majority of vehicle manufacturers are now taking this step, which will make it possible to effectively reduce the weight of vehicles whilst still protecting their safety and performance. Seeing the multiple features such as energy efficiency, lightweight, comfort, protection, and fuel conservation polyurethane adhesives application could be seen in the automotive industry. As a result of its flexibility and strength, as well as an overall reduction in vehicle weight combined with it, polyurethane foams are frequently applied to the automotive sector for improving performance related to environment sustainability and fuel efficiency.
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Polyurethane may be used for bonding of stationary glass, e.g. quarter glasses, backlights and window screens in cars. Polyurethane has advantages and is easily used as an alternative to plastic or any material due to its properties. Due to this, the demand for polyurethane glues is projected to increase in the forecast period as industrial use of polyurethane becomes more widespread.
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Some of the major growth factors and challenges that are associated with the growth of the global polyurethane adhesives market are:
Growth Drivers:
· Surge in the shift towards Ecofriendly Products
· The growth of the automotive sector and construction industry
Challenges:
In view of environmental concerns, various European and North American authorities are responsible for the regulation of Polyurethane Adhesives. This factor could have a limited effect on the growth of this market very soon. The raw materials used for production of polyurethane adhesives are derived from isocyanate or polyol, which can lead to price fluctuations as a result of factors that include supply and demand, political situation in the Middle East, currency movements. This can lead to uncertainty in the market, which could have an impact on pricing of polyurethane adhesives.
By application, the global polyurethane adhesives market is segmented into automotive & transportation, footwear, building & construction, furniture, and others. The building & construction segment is to garner a highest revenue by the end of 2035 by growing at a significant CAGR over the forecast period. This is because of the increasing demand for own homes and also due to increased expenditure by regional governments on infrastructure, which will lead to an increase in sales over the coming years. In addition, the polyurethane bond provides good adhesion, cohesion, flexibility, high cohesive strength and an excellent elasticity of the substrate. According to a United Nations report, 50% of the world’s population lives in urban areas. The demand for housing will be 40% of the global population by 2030, rising to 97,000 houses per day.
By region, the North America polyurethane adhesives market is to generate the highest revenue by the end of 2035. The fact that there are large automobile manufacturers in advanced countries and also the growth of the building industry contributes to this. According to the data from the Organization Internationale des Constructeurs d’Automobiles (OICA), also known as, the International Organization of Motor Vehicle Manufacturers, 3,033,216 cars and 8,156,769 commercial vehicles were manufactured in the U.S. in 2019. As people earn more money in this area, they demand ownership of dwellings. In addition, infrastructure and the provision of development expenditure on business and residential areas are a focus for government authorities in this region.
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