Global Urethane Adhesives Market- Top Manufacturers, Statistics and Regional Outlook, 2021-2031
Urethane Adhesives: Introduction
· Urethane adhesives are referred to as materials that are moisture curing; and have a single cure and component when they are unprotected in the presence of moisture either in substrate or in the atmosphere
· During the process of the cure, a little amount of carbon dioxide is given out in the atmosphere. This has no effect on the bonding process. Urethane adhesives are elastic and flexible in their cured state. As a result, single component moisture curing urethane adhesives are employed where the materials have widely variant thermal coefficients of extension and varying elongation under several loads.
Key Drivers and Restraints of Urethane Adhesives Market
· The global urethane adhesives market has been expanding significantly since the last few years owing to the rapid progress of end-use industries such as building & construction. Increase in usage of urethane adhesives in housing construction is also boosting the urethane adhesives market. These adhesives are known for offering exceptional adhesive properties to several substrates such as concrete, wood, plastic, and glass owing to their elastic and structural properties. These properties have widened the scope of application of urethane adhesives in the construction segment.
· Companies operating in the urethane adhesives market are focusing on the development of bio-based substitutes due to the environmental damage that urethane adhesives can cause. Thus, the urethane adhesives market is expected to expand extensively owing to the robust growth of end-use industries such as automobiles, construction, and packaging due to innovation in terms of product development. Urethane adhesives are used for the purpose of lamination and protection in these industries.
Urethane Adhesives Market: Segments
· The urethane adhesives market can be segmented based on viscosity and end-use industry
· Based on viscosity, the urethane adhesives market can be segmented into viscosity below 1000 and viscosity above 1000
· Based on end-use industry, the urethane adhesives market can be divided into mining, footwear, construction, transportation, personal & home care, industrial, and others
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COVID-19 Impact on Urethane Adhesives Market
· Emergence of the new COVID strain in many developed and developing countries has adversely affected the health care infrastructure. Hospital staff, medicines, oxygen beds, and ventilators are in short supply. Supply chains are facing disruptions, leading to disturbances in production activities in many countries. This is adversely impacting the global urethane adhesives market.
· On January 30, 2020, the International Health Regulations Emergency Committee of the World Health Organization (WHO) declared the Coronavirus disease (COVID-19) outbreak a public health emergency of international concern. Originating in China, the virus has spread to at least 213 countries and territories around the world.
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Asia Pacific to Dominate Urethane Adhesives Market
· In terms of geography, the global urethane adhesives market can be segmented into North America, Latin America, Asia Pacific, Europe, and Middle East & Africa
· Asia Pacific accounted for the leading share of the global urethane market in 2020. It was closely trailed by Europe and North America, respectively. Growth of application industries such as construction and transportation, especially in developing countries such as China and India, is driving the market in Asia Pacific. Expansion of commercial and residential construction sectors in China is also boosting the demand for urethane adhesives in Asia Pacific.
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Key Manufacturers Operating in Global Urethane Adhesives
· The global urethane adhesives market was consolidated in 2020. Major players have prominent presence in developed and developing countries. Key manufacturers operating in the global urethane adhesives market include:
· The Dow Chemical Company
· RPM International Inc.
· Lord Corporation
· Henkel AG & Co. KGaA
· H.B. Fuller Company
· E. I. du Pont de Nemours and Company
· BASF
· 3M Company
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