PUR Hot-Melt Adhesives Market - Forecast(2024 - 2030)

Report Code: CMR 47852 Report Format: PDF + Excel

PUR Hot-Melt Adhesives Overview

PUR Hot-Melt Adhesives Market is forecast to reach US$ 12 billion by 2026, after growing at a CAGR of 6.4% during the forecast period from 2021-2026. Globally, the increasing demand for PUR hot-melt adhesives due to its non-toxic, quick setting, and weather resistance properties, in the construction, electronics, and automotive industry is estimated to drive the market growth. Also, polyurethane hot melts have a low glass transition temperature and a wide range of softening points, making them very elastic and raising the demand for PUR hot-melt adhesives in the market. 

Additionally, PUR hot-melt adhesives also reduce volatile organic compounds owing to which it is widely preferred in several applications. Ethylene vinyl acetate, a copolymer adhesive that binds to a broad range of cellulosic materials and comes in a variety of formulations, is becoming increasingly popular in the paper, packaging, and assembly industries, which is also raising the growth of the market. Furthermore, the growing demand for bio-based PUR hot-melt adhesives is anticipated to create new opportunities for the growth of the PUR hot-melt adhesives industry in the forecast era.

Impact of Covid-19

The COVID-19 pandemic and nationwide lockdown severely affected the PUR hot-melt adhesives market growth in the year 2020. The halt in manufacturing activities led to the decline in the demand for PUR hot-melt adhesives from various sectors. Currently, considering the new normal and guidance set by the government in various regions the market for PUR hot-melt adhesives is expected to see an upsurge in the upcoming years.

Report Coverage

The: PUR Hot-Melt Adhesives Market Report – Forecast (2021-2026)”, by IndustryARC, covers an in-depth analysis of the following segments of the PUR hot-melt adhesives market.
By Form: Thermosetting and Thermoplastic.
By Packaging: Granulate, Cartridges, Tin Cans, Hobbocks, Drums.
By Application: Construction, Automotive, Electronics, Textile, Footwear, Bookbinding, Furniture, Edge banding, Wood working, and Others.
By Geography: North America (U.S, Canada, and Mexico), Europe (U.K., Germany, France, Italy, Netherland, Spain, Russia, Belgium, and Rest of Europe), APAC (China, Japan, India, South Korea, Australia and New Zealand, Indonesia, Taiwan, Malaysia, and Rest of Asia Pacific), South America (Brazil, Argentina, Colombia, Chile, and Rest of South America), and RoW (Middle East and Africa).

Key Takeaways

  • An increase in the adoption of PUR hot-melt adhesives in furniture applications from emerging economies such as China, India, and others, will create new opportunities for the growth of global PUR hot-melt adhesives market.
  • Owing to the low processing costs and superior durability the demand for PUR hot-melt adhesives from the automotive industry is anticipated to drive the market growth over the forecast period.
  • Long-lasting adhesive solutions are required by the packaging industry to ensure that the finished product remains unaffected by moisture and other environmental conditions. Due to their exceptional strength, aesthetic appeal and low VOC emissions compared to other packaging solutions, PUR hot-melt adhesives are formulated in various packaging applications.

Figure: PUR Hot-Melt Adhesives Market Revenue, 2020-2026 (US$ Billion)

PUR Hot-Melt Adhesives Market

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PUR Hot-Melt Adhesives Market Segment Analysis - By Form

Thermosetting PUR hot-melt adhesive form held the largest share in the PUR hot-melt adhesives market in 2020. Thermosetting PUR hot-melt adhesive have a low initial bond strength which increases over time as the adhesive reacts with moisture in the air. The chemical bond of hot polyurethane reactive melts is typically stronger and more resistant to heat and chemicals than traditional hot melt adhesives. For difficult applications, this makes PUR hot melt adhesives an excellent choice. Also, by being capable to cure thermosetting material, PUR hot-melt adhesives remove or substantially minimize many of the performance problems associated with traditional hot-melt adhesives.

PUR Hot-Melt Adhesives Market Segment Analysis - By Packaging

Cartridges packaging is widely used in the PUR hot-melt adhesives market. These moisture-curing PUR hot melt adhesives require more caution during processing. They are supplied in moisture-proof packaging units such as in cartridge packages and processed in special melting units to protect from exposure to ambient humidity. Thus, with the rising demand of PUR hot-melt adhesive the demand for cartridges packaging is also estimated to rise in the projected timeframe.

PUR Hot-Melt Adhesives Market Segment Analysis - By Application

The furniture industry held the largest share in the PUR hot-melt adhesives market in 2020 and is projected to grow at a CAGR of 6.8% during the forecast period 2021-2026. In the furniture manufacturing industry, PU hot-melt adhesives have versatile applications. They can be used, for profile wrapping, post-formation, and soft forming, in making architectural and aesthetic elements. The rising needs for various types of furniture are driving the demand for furniture industry, which is further estimated to boost the PU hot-melt adhesives market growth. Also, the commercial furniture market is being driven by the growing industrialization. The furniture industry has seen an upsurge by the rising construction activity, which is considered as one of the main factors for the growth of PUR hot-melt adhesives market.

PUR Hot-Melt Adhesives Market Segment Analysis - Geography

Asia-Pacific held the largest share with 30% in PUR hot-melt adhesives market in 2020. The demand for PUR hot-melt adhesives is primarily driven by the increasing production of furniture products in emerging economies such as China, India, Japan, and South Korea. Also, the rising demand for PUR hot-melt adhesives in automotive and construction applications is driving the market growth in the Asia-Pacific region. China and India are one the world's biggest furniture manufacturers, with the participation of almost all the major furniture industries' production bases. According to Invest India, by the end of 2023, the furniture market is expected to garner $61.09 bn. Also, in 2023, the Indian furniture market is projected to achieve a Y-o-Y growth rate of 14.30 percent. Thus, the demand for PUR hot-melt adhesives is therefore anticipated to grow in the projected timeframe because of these properties.

PUR Hot-Melt Adhesives Market Drivers

Growing demand for PUR holt-melt adhesives as a substitute for solvent-borne adhesives

At temperatures between 120° and 180°C, PUR holt-melt adhesives are melted. These adhesive forms are superior to solvent-based adhesives because they have a stronger hold and are often more versatile in manufacturing. PUR hot melt adhesives offer many advantages in the industrial sector over solvent-based adhesives. Volatile organic compounds are decreased or eliminated and the phase of drying or curing is omitted. PUR hot melt adhesives have a long shelf life and can normally be disposed off without special precautions. Also, hot melt adhesives are clean and simple to operate. Since PUR hot melt adhesives are solvent-free, they are less toxic, and they do not require special ventilation systems and are safer for the environment as compared to solvent-borne adhesives.

Increasing demand for PUR holt-melt adhesives in the automotive

In automotive interior panel manufacturing, reactive polyurethane hot melt adhesives are increasingly used. PUR hot melt adhesives play an important role in the growth of the automotive value chain, and the automotive industry continues to pursue more realistic and low-cost solutions to minimize vehicle weight, thus improving vehicle performance and customer satisfaction. The body of the vehicle consists of several different panels. The manufacturers use high performance PUR hot melt adhesive to attach these panels, like the doors. The panels are attached in a secure, flexible and durable fashion utilizing the high-temperature PUR hot melt adhesive, while preserving the vehicle's beauty and seamless curve. PUR hot melt adhesives are not limited to the bonding of low-temperature metals and plastics. These adhesives are suitable for use in several areas of the engine, transmission, radiators, and batteries because of their superior strength and extreme durability. Hence, the rising demand for automotive the market for PUR hot melt adhesives is anticipated to rise in the forecast period.

PUR Hot-Melt Adhesives Market Challenges

Fluctuation in raw material prices will affect the market growth

Significant rise in prices for basic intermediates and chemicals, reduced supply, and high global demand make PUR hot-melt adhesive raw materials considerably more expensive. The PUR hot-melt adhesive industry is concerned about substantial rises in the price of basic chemicals and intermediates, which constitute the chemical basis for a large number of main adhesive raw materials. Changes in the balance of supply or demand across the whole chain have a higher influence on adhesive raw material prices. Demand and supply factors varying from chemical to chemical impact the price of PUR hot-melt adhesive raw materials. The fluctuations in raw material prices also affect the manufacturers' operating margins, which in turn makes it difficult for them to sustain themselves on the global PUR hot-melt adhesive market.

Market Landscape

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the PUR hot melt adhesives market. Major players in the PUR hot melt adhesives market are Jowat SE, 3M, H.B. Fuller, Henkel AG & Company KGaA, Tex Year Industries Inc., Arkema Group, Henkel, Bostik, Evans Adhesive, and Sika AG, among others.

Acquisitions/Technology Launches

  • In February 2020, Jowat SE company launched its first PUR hot melt adhesive Jowatherm-Reaktant® MR 604.90, with a reduced monomer content and thus risk-free labeling approved according to RAL-GZ 716 for the wrapping of PVC window profiles.

Relevant Reports

Report Code: CMR 64548

Report Code: CMR 0683

Report Code: CMR 1111

Report Code: CMR 95144

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1. PUR Hot-Melt Adhesives Market- Market Overview
    1.1 Definitions and Scope
2. PUR Hot-Melt Adhesives Market - Executive Summary
    2.1 Market Revenue, Market Size and Key Trends by Company
    2.2 Key Trends by Form
    2.3 Key Trends by Packaging
    2.4 Key Trends by Application
    2.5 Key Trends by Geography
3. PUR Hot-Melt Adhesives Market- Comparative analysis
    3.1 Market Share Analysis- Major Companies
    3.2 Product Benchmarking- Major Companies
    3.3 Top 5 Financials Analysis
    3.4 Patent Analysis- Major Companies
    3.5 Pricing Analysis (ASPs will be provided)
4. PUR Hot-Melt Adhesives Market- Startup companies Scenario Premium Premium 
    4.1 Major startup company analysis:
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Product portfolio
        4.1.4 Venture Capital and Funding Scenario
5. PUR Hot-Melt Adhesives Market– Industry Market Entry Scenario Premium Premium 
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing Business Index
    5.3 Successful Venture Profiles
    5.4 Customer Analysis – Major companies
6. PUR Hot-Melt Adhesives Market- Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Porters Five Force Model
        6.3.1 Bargaining Power of Suppliers
        6.3.2 Bargaining Powers of Buyers
        6.3.3 Threat of New Entrants
        6.3.4 Competitive Rivalry
        6.3.5 Threat of Substitutes
7. PUR Hot-Melt Adhesives Market-Strategic analysis
    7.1 Value/Supply Chain Analysis
    7.2 Opportunity Analysis
    7.3 Product/Market Life Cycle
    7.4 Distributor Analysis – Major Companies
8. PUR Hot-Melt Adhesives Market– By Form (Market Size -$Million)
    8.1 Thermosetting
    8.2 Thermoplastic
9. PUR Hot-Melt Adhesives Market– By Packaging (Market Size -$Million)
    9.1 Granulate
    9.2 Cartridges
    9.3 Tin Cans
    9.4 Hobbocks
    9.5 Drums
10. PUR Hot-Melt Adhesives Market– By Application (Market Size -$Million)
    10.1 Construction
        10.1.1 Flooring
        10.1.2 Remodeling
        10.1.3 Countertops
        10.1.4 Walls
        10.1.5 Others
    10.2 Automotive
        10.2.1 Interior
        10.2.2 Exterior
    10.3 Electronics
        10.3.1 Smartphones
        10.3.2 Tablet computers
        10.3.3 Wearable electronics
        10.3.4 Wireless speakers
        10.3.5 Others
    10.4 Textile
        10.4.1 Garments
        10.4.2 Membrane lamination
        10.4.3 Cover materials
        10.4.4 Industrial
        10.4.5 Others
    10.5 Footwear
    10.6 Bookbinding
    10.7 Furniture
    10.8 Edge banding
    10.9 Wood Working
    10.10 Others
11. PUR Hot-Melt Adhesives Market- By Geography (Market Size -$Million)
    11.1 North America
        11.1.1 U.S.
        11.1.2 Canada
        11.1.3 Mexico
    11.2 Europe
        11.2.1 U.K
        11.2.2 Germany
        11.2.3 France
        11.2.4 Italy
        11.2.5 Netherland
        11.2.6 Spain
        11.2.7 Russia
        11.2.8 Belgium
        11.2.9 Rest of Europe
    11.3 Asia Pacific
        11.3.1 China
        11.3.2 Japan
        11.3.3 India
        11.3.4 South Korea
        11.3.5 Australia and New Zealand
        11.3.6 Indonesia
        11.3.7 Taiwan
        11.3.8 Malaysia
        11.3.9 Rest of Asia Pacific
    11.4 South America
        11.4.1 Brazil
        11.4.2 Argentina
        11.4.3 Colombia
        11.4.4 Chile
        11.4.5 Rest of South America
    11.5 ROW
        11.5.1 Middle East
   Saudi Arabia
   Rest of Middle East
        11.5.2 Africa
   South Africa
   Rest of South Africa
12. PUR Hot-Melt Adhesives Market- Entropy
    12.1 New Product Launches
    12.2 M&A’s, Collaborations, JVs and Partnerships
13. PUR Hot-Melt Adhesives Market- Market Share Analysis Premium
    13.1 Market Share by Country- Top companies
    13.2 Market Share by Region- Top companies
    13.3 Market Share by type of Product / Product category- Top companies
    13.4 Market Share at global level- Top companies
14. PUR Hot-Melt Adhesives Market- Key Company List by Country Premium Premium 
15. PUR Hot-Melt Adhesives Market Company Analysis- Business Overview, Product Portfolio, Financials, and Developments
    15.1 Company 1
    15.2 Company 2
    15.3 Company 3
    15.4 Company 4
    15.5 Company 5
    15.6 Company 6
    15.7 Company 7
    15.8 Company 8
    15.9 Company 9
    15.10 Company 10 and more
"*Financials would be provided on a best efforts basis for private companies"