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Asia-Pacific Polyurethane (PU) Hot-melt Adhesives Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

  • ID: 4514847
  • Report
  • January 2022
  • Region: Asia Pacific
  • 120 Pages
  • Mordor Intelligence

The Asia-Pacific polyurethane hot-melt adhesives market is estimated to witness a significant growth, at an estimated CAGR of over 9%, over the forecast period. Increasing demand from the packaging industry in the region and increasing usage of PUR holt-melt adhesives as a substitute for solvent-borne adhesives are expected to drive the market during the forecast period.



Key Highlights

  • Adoption of bio-based hot-melt adhesives are projected to create opportunities to the market growth in the coming years.
  • China is expected to dominate the market and is also expected to witness the fastest CAGR during the forecast period.

Key Market Trends


Increasing Demand from Packaging Industry


  • Polyurethane hot melts are increasingly used in the production of automotive interior panels. In addition, PU hot-melt adhesives can be used during the manufacturing of car seats, for fixing cables in the roof liner, to bond door sill protectors, and other plastic parts. They can also be used to bond emblems, as well as anchor plates onto gear knobs.
  • A wide variety of different assembly bonds are required. Retainer bonding, the bonding of the steel frames of the sunroofs, window tracks etc. Different materials, such as, plastics, metals, lacquers, textiles, and wood- based materials can be bonded securely. The quick cooling of the applied adhesive allows short set times, and the subsequent chemical crosslinking with the aid of moisture, guarantees high temperature, and climate resistance. Even at low temperatures, these hot melts prove to be flexible and tend not to brittle. The adhesive bead cuts off cleanly without stringing, therefore avoiding contamination of the decor area, when the hot melt is applied robotically.
  • These adhesive systems are also more frequently used for lamination applications. The adhesive can be applied economically with new application technology. When using holt-melt adhesives, the 100% solids are being applied, as compared to the use of dispersion adhesives (which ensures maximum efficiency of adhesive consumption). Complex and cost-intensive drying processes of the adhesive film can be avoided.
  • Hot-melt PUR are used in road atlases on the back shelf of a car, as they can withstand extreme temperatures.
  • The aforementioned factors have been boosting the demand for polyurethane hot-melt adhesives, in the recent times.

China to Dominate the Market


  • China is one of the fastest-growing economies, globally, and almost all the end-user industries have been growing, owing to the rising population, living standards, and per capita income. However, owing to the international trade turbulences and unfavorable geopolitical affairs, the growth rate is expected to slow down during the initial years of the forecast period.
  • China has the second-largest packaging industry in the world. The country is expected to witness a consistent growth during the forecast period, owing to the rise of customized packaging and increased demand for packaged consumerist goods in the food segment, like microwave food, snack foods, and frozen foods.
  • Additionally, the Chinese footwear industry has witnessed major growth in the recent years, owing to the high demand for sports footwear. Moreover, the sports footwear market is strongly supported by government policies that promote a healthy lifestyle. By 2021, the Chinese mainland footwear market is likely to be worth around CNY 487.4 billion (USD 70.53 billion).
  • China’s 13th Five Year Plan started in 2016 as it was an important year for the country’s engineering, procurement, and construction (EPC) industry. In addition to this, the country ventured into new business models domestically and internationally, during the year. Although the construction sector slowed down after 2013, it is still a major contributor to the GDP of the country.
  • Owing to all the above-mentioned factors, the market for polyurethane hot-melt adhesives is expected to increase during the forecast period.

Competitive Landscape


The Asia-Pacific polyurethane (PU) hot-melt adhesives market is partially consolidated in nature. Key players in the market include 3M, Arkema Group, H.B. Fuller Company, Henkel AG & Co. KGaA, and Sika AG, among others.



Additional Benefits:

  • The market estimate (ME) sheet in Excel format
  • 3 months of analyst support


This product will be delivered within 2 business days.
Note: Product cover images may vary from those shown

1 INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Drivers
4.1.1 Increasing Demand from the Packaging and Electronics Industries
4.1.2 Increasing Usage of PUR holt-melt adhesives as a Substitute for Solvent-borne Adhesives
4.1.3 Other Drivers
4.2 Restraints
4.2.1 Impact of COVID-19 Pandemic on Global Economy
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5 MARKET SEGMENTATION
5.1 Type
5.1.1 Non-reactive
5.1.2 Reactive
5.2 Application
5.2.1 Paper, Board, and Packaging
5.2.2 Healthcare
5.2.3 Automotive
5.2.4 Furniture (Woodworking)
5.2.5 Footwear
5.2.6 Textiles
5.2.7 Electrical and Electronics
5.2.8 Bookbinding
5.2.9 Other Applications
5.3 Geography
5.3.1 China
5.3.2 India
5.3.3 Japan
5.3.4 South Korea
5.3.5 ASEAN Countries
5.3.6 Rest of Asia-Pacific
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share Analysis**
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 3M
6.4.2 Arkema Group
6.4.3 BASF SE
6.4.4 Delo Industrial Adhesives
6.4.5 DIC CORPORATION
6.4.6 Dow
6.4.7 Franklin International
6.4.8 H.B. Fuller Company
6.4.9 Henkel AG & Co. KGaA
6.4.10 Huntsman International LLC
6.4.11 Jowat SE
6.4.12 Klebchemie M. G. Becker GmbH & Co. KG
6.4.13 Mapei SpA
6.4.14 Master Bond Inc.
6.4.15 Parker Hannifin Corp
6.4.16 Pidilite Industries Ltd
6.4.17 Sika AG
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Adoption of Bio-Based Hot-melt Adhesives
7.2 Innovative Product Development to Gain Competitive Edge
Note: Product cover images may vary from those shown

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