August 25, 2023 16:56 ET | Source: ReportLinker ReportLinker
New York, Aug. 25, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Polyurethane Sealants (PU) Global Market Report 2023" - https://www.reportlinker.com/p06486600/?utm_source=GNW A, Pidilite Industries Limited, Sika AG, Soudal N.V., Die PCI Augsburg GmbH, and Selena FM S.A. The global polyurethane sealants (PU) market is expected to grow from $2.74 billion in 2022 to $2.89 billion in 2023 at a compound annual growth rate (CAGR) of 5.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The polyurethane sealants (PU) market is expected to reach $3.49 billion in 2027 at a CAGR of 4.9%. The polyurethane sealants (PU) market consists of sales of polyurethane sealants auto glass adhesive, extra strong polyurethane sealant, polyurethane sealants metal adhesive, and polyurethane sealants marine adhesive.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. Asia-Pacific was the largest region in the polyurethane sealants (PU) market in 2022.It is expected to be the fastest-growing region in the forecast period. The regions covered in polyurethane sealants (PU) report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. Polyurethane sealants are adhesive compounds based on polyurethane polymers that create flexible and durable seals, preventing the penetration of air, water, or other substances between surfaces. Polyurethane sealants are known for their excellent adhesion, elasticity, and resistance to weathering used for sealing, filling gaps, preventing water and air from getting into joints, absorbing the natural movements of building components and improving aesthetics. The main types of polyurethane sealants include one component and two components.One-component polyurethane sealants refer to polyurethane sealants with isocyanate properties that react with moisture in the air or on a substrate. They are used in several applications, including glazing, flooring and joining, concrete joints, submerged, sanitary and kitchen, and are used by various end-users, such as building and construction, automotive, general industrial, marine, aerospace, and others. 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. 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 December 2020, Sika AG, a Switzerland-based manufacturer of adhesives and sealants for the building sector and automotive industry launched PURFORM polyurethane technology.With less surface preparation, the technology’s unique benefits include increased process efficiency and enhanced adhesive qualities. It also offers the best compatibility with delicate surfaces like real stone and the stable, stress-free bonding of plastics. Products made with the new technology are capable of withstanding harsh weather conditions and prolonged outdoor UV radiation exposure. In January 2022, Sun Chemical, a US-based company that produces printing inks and pigments, acquired SAPICI S.p.A. for an undisclosed amount. Through this acquisition, Sun Chemical aims to reinforce its integrated supply strategy by adding developing and producing polymer capabilities to its portfolio. Additionally, the acquisition will provide Sun Chemical with SAPICI’s unique polymer portfolio, such as coatings, elastomers, and polyurethane sealants. SAPICI S.p.A. is an Italy-based producer of polyurethanes for sealants, coatings, packaging, and adhesives. The countries covered in the polyurethane sealants (PU) market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The polyurethane sealants market research report is one of a series of new reports that provides polyurethane sealants market statistics, including polyurethane sealants industry global market size, regional shares, competitors with a polyurethane sealants market share, detailed polyurethane sealants market segments, market trends and opportunities, and any further data you may need to thrive in the polyurethane sealants industry. This polyurethane sealants market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. Read the full report: https://www.reportlinker.com/p06486600/?utm_source=GNW About Reportlinker ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place. __________________________ Auto Glass Adhesive & Sealant
