PUBLISHER: The Business Research Company | PRODUCT CODE: 1608820
PUBLISHER: The Business Research Company | PRODUCT CODE: 1608820
Polyurethane reactive (PUR) hot-melt adhesives are a specialized type of adhesive derived from reactive polyurethane prepolymers. These adhesives are solid at room temperature but transition to a liquid state when heated, allowing for application in a molten form. After application, PUR adhesives solidify upon cooling and undergo further curing through a chemical reaction with moisture in the environment, resulting in strong, flexible, and durable bonds.
The primary categories of PUR hot-melt adhesives include non-reactive PUR hot-melt adhesives and reactive PUR hot-melt adhesives. Non-reactive PUR hot-melt adhesives solely rely on the cooling process for bonding and do not undergo additional chemical reactions after application. These adhesives are available in both thermosetting and thermoplastic forms and are commonly used in various applications, including automotive, electronics, construction, textiles, bookbinding, furniture, edge banding, woodworking, footwear, and more.
The PUR hot-melt adhesives market research report is one of a series of new reports from The Business Research Company that provides PUR hot-melt adhesives market statistics, including PUR hot-melt adhesives industry global market size, regional shares, competitors with a PUR hot-melt adhesives market share, detailed PUR hot-melt adhesives market segments, market trends and opportunities, and any further data you may need to thrive in the PUR hot-melt adhesives industry. This PUR hot-melt adhesives market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The PUR hot-melt adhesives market size has grown strongly in recent years. It will grow from $5.04 billion in 2023 to $5.41 billion in 2024 at a compound annual growth rate (CAGR) of 7.2%. The growth during the historical period can be attributed to several key factors, including the expansion of the packaging industry, rising demand for durable and high-performance adhesives, growth in the consumer goods sector, increased investment in research and development, and the expansion of e-commerce.
The PUR hot-melt adhesives market size is expected to see strong growth in the next few years. It will grow to $7.18 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%. The anticipated growth during the forecast period can be attributed to several factors, including the increasing demand for environmentally friendly adhesives, a rising need for PUR hot-melt adhesives in the automotive sector, and a growing reliance on solvent-based adhesives. Key trends expected to shape this period include technological advancements, the development of eco-friendly adhesives, the emergence of multifunctional adhesives, the integration of smart technologies, and the growing popularity of water-based adhesives.
The growth of the PUR hot-melt adhesives market is being driven by the increasing construction activities globally. The construction industry, which involves planning, designing, building, maintaining, and operating physical structures and infrastructure, is experiencing rising demand due to factors such as urbanization, infrastructure development, sustainability initiatives, and renovation projects. PUR hot-melt adhesives are gaining traction within the sector due to their ability to form strong, durable bonds that can withstand structural stress and environmental challenges. For example, the US Census Bureau reported in September 2024 that construction spending in July 2024 reached a seasonally adjusted annual rate of $2,162.7 billion, up 6.7% (+-1.8%) from $2,027.4 billion in July 2023. This rise in construction activity is fueling the demand for PUR hot-melt adhesives.
Leading companies in the PUR hot-melt adhesives market are introducing innovative solutions, such as advanced woodworking adhesive technologies, to provide stronger and more durable bonds, enhancing the longevity and integrity of wood products. These specialized adhesives are designed to securely bond wood and wood-based materials in furniture, cabinetry, and other applications. For instance, in May 2022, Bostik, a French adhesive manufacturer, introduced the SG6518 and SG6520 adhesives as part of its Supergrip line. These advanced hot-melt polyurethane reactive adhesives (HMPUR) are designed for edge banding in woodworking, offering superior bonding strength, water resistance, and durability, making them suitable for high-moisture environments and ensuring the longevity of finished products.
In November 2023, COIM, an Italy-based chemical company, completed the acquisition of Neoflex SL for an undisclosed amount. This acquisition is aligned with COIM's strategy to strengthen its position in the polyurethane adhesives market and expand its product portfolio. By acquiring new assets and capabilities, COIM aims to diversify its offerings and better serve the evolving needs of the adhesives industry. Neoflex SL is a Spain-based manufacturer specializing in reactive hot-melt polyurethane adhesives.
Major companies operating in the pur hot-melt adhesives market are The Dow Chemical Company, 3M Company, Henkel AG & Co. KGaA, Covestro AG, Evonik Industries AG, Sika AG, DIC Corporation, Wacker Chemie AG, H.B. Fuller Company, Bostik SA, Pidilite Industries Limited, R.S. Hughes Company Inc., Franklin International Inc., Huntsman Corporation, Kleiberit Klebstoffe GmbH & Co. KG, Beardow Adams Ltd, Daubert Chemical Company Inc., Infinity Bond, Jowat SE, Titebond, SABA Adhesives & Sealants, TEX Year Fine Chemicals Co. Ltd.
Asia-Pacific was the largest region in the PUR hot-melt adhesives market in 2023 and it is expected to be the fastest-growing region in the forecast period. The regions covered in the pur hot-melt adhesives market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the pur hot-melt adhesives market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The PUR hot-melt adhesives market consists of sales of packaging adhesives, medical device adhesives, filter assembly adhesives, and labeling adhesives. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
PUR Hot-Melt Adhesives Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on pur hot-melt adhesives market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for pur hot-melt adhesives ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The pur hot-melt adhesives market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.