COVID-19 pandemic – Boon or a Curse to the industry?
The outbreak of COVID-19 has severely impacted several industries across the world. Tough government measures such as lockdown of major economies, has pressed the ‘pause button’ for most of the industries. For most of the industries, the revenue has gone down in 2020 and has resumed an uptrend gradually from 2021.
Key insights on Polyurethane Adhesives Market
Polyurethane Adhesives Market is likely to witness an impressive CAGR of 5.7% during the forecast period. The major factors propelling the Polyurethane Adhesives Market are the increasing construction activities, growth in automotive & transportation sector, industrial development, and the stringent regulations regarding Volatile Organic Compound (VOC) control, including initiatives, such as REACH Europe and Clean Air Act, respectively.
Asia-Pacific is estimated to dominate the market for polyurethane adhesives during the forecast period. The growth of the region’s market is driven by high demand for polyurethane adhesives from automotive & transportation and packaging industries along with the improving economic conditions in the emerging economies. China, India, Japan, Thailand, and South Korea are the growth engines of the Asia-Pacific region. North America and Europe are also likely to offer considerable growth opportunities during the forecast period.
Market Scope & Market Segmentation
Polyurethane Adhesives Market Share: By Technology Type
Based on the technology type, the market of Polyurethane Adhesives Market is segmented as solvent-borne, 100% solids, dispersion, and others. The solvent-borne segment is estimated to be dominant during the forecast period, owing to the presence of hydroxyl terminated polyurethane with a high molecular weight. It is easily available in grades and is suitable for different industrial and construction applications. On the other hand, dispersion is expected to grow at the fastest pace during the forecast period.
Polyurethane Adhesives Market Share: By Resin Type
Based on the resin type, the market is segmented as thermoset and thermoplastic. The thermoset segment is expected to dominate the market during the forecast period. The increasing use of thermoset resins is likely to drive the growth of the segment during the forecast period.
Polyurethane Adhesives Market Share: By End-Use Industry Type
Based on the end-use industry type, the market is segmented as automotive & transportation, building & construction, packaging, footwear, industrial, furniture & decoration, and others. The automotive & transportation segment is estimated to account for the major share of the market during the forecast period. Material is the key component of automobile interiors and it covers an exhaustive list of applications, such as tail molding, roof panels, interior trims, front molding, deck assembly, and sidewall assembly. In addition, polyurethane adhesives are fast replacing conventional fastening technologies to gain robust assembly.
Which key questions will this report answer?
This market research report focuses to deliver relevant information regarding the market trends, structure and growth during the forecast period of 2020-2025. It also offers insights into different market segments and other factors affecting the market.
Some of the key questions answered by the report are:
- What is the impact of COVID-19 on the market forecast?
- What are the trends, drivers, and challenges?
- How competitive is the market? Who are the market leaders?
- What are the key strategies adopted by the market players?
- Which segments offer the greatest opportunities?
- Which are the most attractive regions?
- What are the key success factors for the market players?
- How does the business environment impact the market?
- Which strategic alliances have taken place recently and their significance?
Stratview Research’s reports are generated after accumulating data from various authenticated sources. > 10 primary interviews with industry experts are conducted by us for every report. Insights gained from primary interviews, in-depth analysis of company statements and annual reports, accompanied by a number of articles, whitepapers, and reports help us to connect the dots and triangulate the market in the most effective manner.
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