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The PUR hot-melt adhesives market has experienced significant growth in recent years and is expected to continue expanding. It is projected to increase from $5.04 billion in 2023 to $5.41 billion in 2024, reflecting a compound annual growth rate (CAGR) of 7.2%. This growth can be attributed to factors such as the expansion of the packaging industry, rising demand for durable and high-performance adhesives, growth in the consumer goods sector, increased investment in research and development, and the rise of e-commerce.
How Big Is the Global PUR Hot-Melt Adhesives Market Expected to Grow, and What Is Its Annual Growth Rate?
The PUR hot-melt adhesives market is expected to experience strong growth in the coming years, reaching $7.18 billion by 2028, with a compound annual growth rate (CAGR) of 7.4%. This growth in the forecast period is driven by factors such as the rising demand for eco-friendly adhesives, increasing use of PUR hot-melt adhesives in the automotive industry, and the growing adoption of solvent-based adhesives across various sectors.
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What Is Driving the Growth of the PUR Hot-Melt Adhesives Market?
The growing construction activities are expected to drive the expansion of the PUR hot-melt adhesives market in the coming years. The construction industry covers a broad range of activities, including planning, design, building, maintenance, and operation of physical structures and infrastructure. The increasing demand from this sector is fueled by factors such as urbanization, infrastructure development, sustainability initiatives, and ongoing reconstruction and renovation projects. PUR hot-melt adhesives are particularly valued in construction for their ability to create strong, durable bonds that can withstand structural stress and environmental conditions, ensuring long-lasting performance.
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Which Leading Companies Are Driving The Growth Of The PUR Hot-Melt Adhesives Market Share?
Key players in the PUR hot-melt adhesives market include The Dow Chemical Company, 3M Company, Henkel AG & Co. KGaA, Covestro AG, Evonik Industries AG, Sika AG, DIC Corporation, Wacker Chemie AG, H.B. Fuller Company, Bostik SA, Pidilite Industries Limited, R.S. Hughes Company Inc., Franklin International Inc., Huntsman Corporation, Kleiberit Klebstoffe GmbH & Co. KG, Beardow Adams Ltd., Daubert Chemical Company Inc., Infinity Bond, Jowat SE, Titebond, SABA Adhesives & Sealants, TEX Year Fine Chemicals Co. Ltd.
What Are The Key Trends Driving The Growth Of The PUR Hot-Melt Adhesives Market Size?
Leading companies in the PUR hot-melt adhesives market are focusing on developing advanced solutions, such as woodworking adhesive formulations, to provide strong, durable bonds that improve the structural integrity and longevity of wood products. Woodworking adhesive solutions are specialized bonding agents designed to securely join wood and wood-based materials, making them ideal for applications in furniture, cabinetry, and other woodcraft projects.
How Is the Global PUR Hot-Melt Adhesives Market Segmented?
1) By Type: Non-Reactive PUR Hot Melt Adhesives, Reactive PUR Hot Melt Adhesives
2) By Form: Thermosetting, Thermoplastic
3) By Application: Automotive, Electronics, Construction, Textile, Bookbinding, Furniture, Edge Banding, Wood Working, Footwear, Other Applications
Asia-Pacific: The Leading Region in the PUR Hot-Melt Adhesives Market
Asia-Pacific was the largest region in the market in 2023. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is the PUR Hot-Melt Adhesives Market?
Polyurethane reactive (PUR) hot-melt adhesives are a type of adhesive made from reactive polyurethane prepolymers. These adhesives are solid at room temperature but turn liquid when heated, allowing them to be applied in a molten form. After application, the PUR adhesives solidify as they cool and undergo a chemical curing process when exposed to moisture in the air, forming strong, flexible, and durable bonds.
The PUR Hot-Melt Adhesives Global Market Report 2024 from The Business Research Company includes the following key information:
•Market size data for both historical and future periods
•Analysis of both macro and microeconomic factors that have impacted the market over the past five years
•Regional market analysis covering Asia-Pacific, China, Western Europe, Eastern Europe, North America, the USA, South America, and the Middle East and Africa
•Country-specific market analysis for Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.
Overview of the Global PUR Hot-Melt Adhesives Market Report: Trends, Opportunities, Strategies, and More
The PUR Hot-Melt Adhesives Global Market Report 2024 from The Business Research Company is an extensive resource that delivers insights into PUR hot-melt adhesives market size, PUR hot-melt adhesives market drivers and trends, PUR hot-melt adhesives competitors' revenues, and PUR hot-melt adhesives market growth across geographies. This report provides valuable in-depth insights into potential opportunities and strategies. Companies can utilize the information presented to target segments with the greatest growth potential.
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