Polyurethane Adhesives And Sealants Market Size

Polyurethane Adhesives And Sealants Market Analysis

The Polyurethane Adhesives And Sealants Market size is estimated at USD 17.53 billion in 2024, and is expected to reach USD 23.5 billion by 2029, growing at a CAGR of greater than 6% during the forecast period (2024-2029).

 The COVID-19 pandemic had a significant impact on the global polyurethane (PU) adhesives and sealants market. Lockdowns and travel restrictions caused disruptions in the supply chain for raw materials and finished products, leading to shortages and price increases. Governments and businesses prioritized healthcare and other essential sectors during the pandemic, leading to reduced investment in construction, automotive, and other industries that rely heavily on these products. However, the market has recovered from the initial impact of COVID-19 and continues to grow at a moderate pace in the long run.

• Increased construction activities in the Asian region, driven by urbanization and infrastructure development, along with the growth in the packaging industry, are expected to propel the demand for adhesives and sealants.
• However, strict environmental regulations set by the government on the use of volatile organic compounds are anticipated to hamper the expansion of the market studied.
• The demand for bio-based polyurethane (PU) hot-melt adhesives is steadily rising within the broader PU adhesives and sealants market, which is expected to create lucrative growth opportunities in the global market.
• The Asia-Pacific region represents the largest market and is also expected to be the fastest growing market over the forecast period. This is due to the increase in consumption from China, India, and ASEAN Countries.