Polyurethane Adhesives And Sealants Market - Forecast(2024 - 2030)

Polyurethane Adhesives and Sealants Market Overview

Polyurethane Adhesives and Sealants Market is forecast to reach $6.7 billion by 2030, after growing at a CAGR of 5.5% during 2024-2030. The Polyurethane Adhesives and Sealants market refers to the industry segment involved in the production, distribution, and utilization of sealant products primarily based on polyurethane compounds. These sealants are widely used in construction, automotive, aerospace, and various other industries for sealing joints and gaps to prevent the ingress of water, air, dust, and other environmental elements. Polyurethane Adhesives and Sealants are valued for their excellent adhesive properties, flexibility, durability, and resistance to weathering and chemicals, making them essential for ensuring structural integrity and longevity in various applications. Increasing environmental concerns and regulatory pressures are driving a shift towards sustainable practices within the Polyurethane Adhesives and Sealants industry. Manufacturers are investing in research and development to formulate eco-friendly sealant products with reduced VOC (volatile organic compound) emissions and lower environmental impact. This trend includes the use of renewable raw materials, bio-based polyols, and recyclable packaging to align with sustainability goals and meet the demands of environmentally conscious consumers and regulatory standards. Additionally, there is a growing emphasis on developing sealants with special functionalities, such as UV resistance, fire resistance, and antibacterial properties, to cater to diverse application requirements across different industries. These technological advancements are aimed at providing customers with superior sealant solutions that offer better performance, durability, and ease of application, thereby driving growth and competitiveness in the market. This trend underscores the rising significance of Polyurethane Adhesives and Sealants in enhancing product performance and longevity across sectors, fuelling market expansion.

Market Snapshot:

Report Coverage

The report: “Polyurethane Adhesives and Sealants Market – Forecast (2024-2030)”, by IndustryARC, covers an in-depth analysis of the following segments of the Polyurethane Adhesives and Sealants Industry. 
By Type: One Component, Two Component
By Application: Glazing, Flooring and Joining, Concrete Joints, Sanitary, And Kitchen, Submerged
By End-User: Building And Construction, Automotive, General Industries, Marine, Others
By Form: Adhesives, Sealants
By Geography: North America, South America, Europe, APAC, ROW

Key Takeaways

• Asia-Pacific dominates the Polyurethane Adhesives and Sealants market with a share of 41%, owing to increased demand for Polyurethane Adhesives and Sealants for building and construction activities in the region. Increasing urbanization and industrialization are the key factors for increased building and construction activities in APAC.
• The growth of the Polyurethane Adhesives and Sealants market is driven by huge demand for high-performance products with moisture resistance and esthetic appeal characteristics.
• There is an increasing demand for polyurethane sealing to insulate buildings and protect it from wind, rain, or snow as PU-based sealants provide a weather-tight seal while minimizing air intrusion and allowing for expansion and contraction.

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By Type – Segment Analysis

The one-component Polyurethane Adhesives and Sealants segment held the largest share in the Polyurethane Adhesives and Sealants market in 2023, owing to properties such as little shrinkage, good flexibility, low modulus, excellent durability, and paint ability. One component polyurethane sealant is mainly used in fenestration applications, such as windows and doors, but can also be used in many other residential or construction applications such as plumbing, sealing roofs, and electrical cable establishment. These factors are estimated to lead to the rapid utilization of one composite polyurethane sealant in the market during the forecast period.

By Application – Segment Analysis

The flooring and joining application held the largest share in the Polyurethane Adhesives and Sealants market in 2023, owing to increasing construction activities in various regions. Increasing use of Polyurethane Adhesives and Sealants in joints of prefabricated building elements, joints of rainwater collection pipes on roofs, insulating joints between precast concrete blocks, sealing curtain walls, expansion joints, rain gutters, and sealing of joints of aluminum pipes in HVAC (ventilation) sector leads to growth of Polyurethane Adhesives and Sealants industry globally. Since construction activities are increasing in varied regions and, Polyurethane Adhesives and Sealants are used on a large scale for building and construction applications it will drive the Polyurethane Adhesives and Sealants market.

By End User – Segment Analysis

The building and construction segment of the end-user industry holds the largest share in the Polyurethane Adhesives and Sealants market in 2023. It is growing at a CAGR of 5.8%, owing to properties such as elasticity, resiliency, weather durability, non-sagging, waterproofing, and excellent adhesion to most building and construction materials. Modern constructions utilize render, lightweight masonry wall, curtain wall systems, and rain screen, and these depend on sealant joints, to accommodate building movements such as creep, thermal expansion, sway, settlement, differential slab edge deflections. It is common for building joints to frequently suffer from poor design or installation. These building joints have to be periodically maintained and replaced using Polyurethane Adhesives and Sealants to preserve their effectiveness. Thus, driving the Polyurethane Adhesives and Sealants market in the building and construction sector.

By Geography – Segment Analysis

Asia Pacific held the largest share of the polyurethane market in 2023 up to 41%, owing to significant economic growth, industrialization, and an increase in construction activities in the region. In nations such as China, India, Australia, and Singapore, there is a massive growth in building and construction activities due to population growth, high urbanization, and rising per capita income of individuals. The population growth is resulting in the need for more residential and commercial sectors, in India the government has initiated projects, such as ‘100 smart cities’ and ‘Housing for All by 2022,’ which is expected to drive the Indian residential construction market over the forecast period. According to the International Trade Administration, China is the world’s largest construction market, and the Chinese construction industry is expected to grow at an annual average of 5% in real terms between 2019 and 2023.  Thus, with the increasing construction activities the demand for Polyurethane Adhesives and Sealants will also increase as these sealants play an important role in the construction and renovation of residential, commercial, and industrial buildings, which is likely to influence the growth of the Polyurethane Adhesives and Sealants market in APAC region.

Drivers – Polyurethane Adhesives and Sealants Market

Increasing Demand from End-Use Industries

Polyurethane Adhesives and Sealants possess better adhesion, consistency, and abrasion resistance than other sealants. Polyurethane Adhesives and Sealants are commonly used in building and construction, automotive, marine, general industrial, and other end-use industries as they dry quickly and have the potential to discolor and not retain the intended white color when exposed to UV light. Polyurethane can be used to mend vehicles, especially those made from fiberglass as they harden much faster than urethane. Polyurethane Adhesives and Sealants provide strong bonding, tighter seals, lightweight, and superior stress recovery. They can be molded into almost any shape and are resistant to many environmental factors which act as a driver.

Growing Demand for Low VOC Eco-Friendly Sealants

Due to an increasing trend in the use of environmentally friendly or green goods in different end-user segments, demand for green sealants or those with low VOCs is rising. The U.S. EPA regulates VOCs at the Federal level in 40 CFR 59, which is the National Volatile Organic Compound Emission Standards for Consumer and Commercial Products. VOC controls for products are typically based on the application of products namely vehicle refinishing paints/coatings, adhesives, and sealants. Also, the United States Environmental Protection Agency stated that VOC emissions can be reduced by making process changes such as switching to low VOC content coatings and sealants or by installing air pollution control equipment such as carbon adsorbers or incinerators. Thus, Strict VOC regulations introduced by the USEPA (US Environmental Protection Agency), Europe's Scope (Registration, Evaluation, Authorisation and Restriction of Chemicals), Leadership in Energy and Environmental Design (LEED) and other national regulatory authorities pressured the manufacturers to make low-VOC eco-friendly sealants because of which Polyurethane Adhesives and Sealants industry is growing rapidly, and is heading towards green and sustainable technologies.

Challenges – Polyurethane Adhesives and Sealants Market

Fluctuating raw material prices and complex handling of Polyurethane Adhesives and Sealants

The surge in prices of raw materials for the manufacturing of Polyurethane Adhesives and Sealants such as succinic acid, toluene diisocyanate, polyols, combined with volatility in crude oil prices has hampered the overall growth of the Polyurethane Adhesives and Sealants market. In addition, Polyurethane Adhesives and Sealants have short shelf life due to hydroscopic (water absorption) tendencies, and generally slower cure times. Thus, more complex handling and curing procedures are required for the Polyurethane Adhesives and Sealants which act as a restraint for the Polyurethane Adhesives and Sealants market during the forecast period. 

Market Landscape

Technology launches, acquisitions, and R&D activities are key strategies players adopt in the Polyurethane Adhesives and Sealants market. Major players in the Polyurethane Adhesives and Sealants market are 3M, Sika AG, H.B. Fuller, Arkema S.A, BASF SE, Mapei S.p.A., Asian Paints Ltd, Astral Limited, Henkel Adhesives Technologies, Soudal Group, Pidilite Industries Limited, among others.

Acquisitions/Technology Launches

• In January 2022, Sika introduced Purform®, a groundbreaking polyurethane technology, to the UK sealants and adhesives market. Featuring ultra-low VOC and low monomer content, Purform® enhances sustainability while maintaining high performance. Sikaflex Pro-3 and Sikaflex 11FC are among the initial products to utilize this innovative solution.
• In February 2022, Arkema completed the acquisition of Ashland’s Performance Adhesives business, enhancing its position in high-performance adhesives in the US. This aligns with Arkema's goal to focus on Specialty Materials by 2024.
• In November 2022, Soudal solidifies its presence in the thriving Indian market by acquiring full ownership of its former joint venture with McCoy. Renamed 'Soudal India,' the company will maintain its forefront position, focusing on the production and sales of sealants, polyurethane foams, and adhesives, poised for further growth.

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