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Publishing News and Press Releases

PUR Hot-Melt Adhesives Market Forecast to Reach US$ 12 Billion by 2026

(Publishing-NewsWire.com, August 28, 2021 ) 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.



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.



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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.



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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.



Related Reports:



A. Hot-melt Adhesives Market

https://www.industryarc.com/Research/Hot-melt-Adhesives-Market-Research-509312



B. Polyester Hot Melt Adhesives Market

https://www.industryarc.com/Research/Polyester-Hot-Melt-Adhesives-Market-Research-503674



For more Chemicals and Materials Market reports, please click here



About IndustryARC: IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to sales@industryarc.com to discuss more about our consulting services.

IndustryARC

Venkat Reddy

(+1) 970-236-3677

venkat@industryarc.com

Source: EmailWire.Com

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