The Polyurethane Sealants (PU) Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Polyurethane Sealants (PU) Global Market Report 2024, The polyurethane sealants (pu) market size has grown strongly in recent years. It will grow from $2.89 billion in 2023 to $3.04 billion in 2024 at a compound annual growth rate (CAGR) of 5.4%. The growth in the historic period can be attributed to construction and building boom, infrastructure development needs, automotive manufacturing expansion, increased manufacturing sector, shift towards energy-efficient buildings.
The polyurethane sealants (pu) market size is expected to see steady growth in the next few years. It will grow to $3.68 billion in 2028 at a compound annual growth rate (CAGR) of 4.9%. The growth in the forecast period can be attributed to sustainable and green building practices, renewable energy infrastructure projects, automotive lightweighting trends, urbanization and smart city initiatives, advancements in industrial manufacturing.. Major trends in the forecast period include increasing marine applications, customized sealant solutions, shift towards low-voc formulations, global market expansion, focus on enhanced performance..
A rise in demand in building and construction, automotive, and consumer products is expected to propel the growth of the polyurethane sealants (PU) market going forward. Demand in building and construction refers to the increase in the establishment of structures to accommodate the growing population and urbanization. At the same time, automotive includes the various vehicles manufactured to support urbanization. The construction industry involves the installation of glass, such as glass installed in windows and doors. In the building and construction sector, polyurethane sealants are used as sealants for filling gaps and preventing water and air from getting into joints; further, in the automotive industry, windshields and glasses are installed in vehicles, with the application of polyurethane sealant ensures that the mirrors are firmly attached to the supporting structures. For instance, in March 2022, according to a report published by the European Automobile Manufacturers’ Association (ACEA), the central lobbying and standards group for the automobile industry in the European Union, sales of passenger cars in the US increased by 5.5% from 2020 to 11.9 million units in 2021. Further, China-based automakers produced 20.7 million vehicles in 2021, an increase of 7.1%. In 2021, the total number of cars produced worldwide climbed by 2.7% to 63.2 million. Furthermore, Furthermore, in September 2021, according to reports published by Oxford Economics, a UK-based economic information services company, the global construction output was $10.7 trillion in 2020, and between 2020 and 2030, it is anticipated to increase by 42%, or $4.5 trillion, to reach USD 15.2 trillion Therefore, the rise in demand for building and construction, automotive, and consumer products is driving the growth of the polyurethane sealants (PU) market.
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The polyurethane sealants (pu) market covered in this report is segmented –
1) By Type: One-Component, Two-Component
2) By Application: Glazing, Flooring And Joining, Concrete Joints, Submerged, Sanitary And Kitchen
3) By End-User: Building And Construction, Automotive, General Industrial, Marine, Aerospace, Other End-Users
Technological advancements have emerged as a key trend gaining popularity in the polyurethane sealants (PU) market. Major companies involved in the polyurethane sealants (PU) market are focused on innovating technological solutions to sustain their position in the market. For instance, in November 2023, Sika AG, a Switzerland-based manufacturer of adhesives and sealants for the building sector and automotive industry launched PURFORM polyurethane technology with ultra-low monomer content. It contains less than 0.1% monomeric diisocyanate, which can be harmful to human health and more sustainable than traditional polyurethane products because they contain less monomeric diisocyanate. They boast superior strength, durability, elasticity, and adhesion, ensuring high performance in various applications.
The polyurethane sealants (pu) market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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