The global polyurethane sealants market size is projected to grow from USD 2.7 billion in 2022 to USD 3.3 billion by 2027, at a CAGR of 4.1%. The demand trends primarily influence the demand for polyurethane sealants in the building and construction, and automotive industry in the growing economy. The companies have adopted various strategies, such as investment & expansion, merger & acquisition, new product launches, and joint ventures to increase their global presence and maintain sustained growth in the polyurethane sealants market.
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The Asia Pacific is the fastest-growing polyurethane sealants market due to the region’s rapid infrastructural activities and automotive sector. Asia Pacific has emerged as the leading consumer as well as producer of polyurethane sealants owing to the increasing domestic demand, income levels, and easy access to resources. Foreign investments drive the growth of this market due to the availability of cheap labor and economical and accessible raw materials. Government proposals for improvements in public infrastructure and increasing cost-effective non-residential construction are also driving the market for polyurethane sealants. In developed regions, such as North America and Europe, the constant rise in passenger car ownership is acting as a driver for automotive OEM and refinish paints & coatings.
The major players in the global polyurethane sealants market are 3M (US), Arkema N.V. (Bostik) (Netherlands), Sika AG (Switzerland), H.B Fuller (US), Henkel AG & Co.KGaA (Germany), BASF SE (US), The Dow Chemical Company (US), MAPEI S.p.A (Italy), Asian Paints Ltd. (India), ITW Polymers Sealants North America, Inc (US), among others. These players opted for inorganic growth through mergers & acquisitions, agreements, and partnerships. For instance, in January 2020, 3M entered into an agreement to acquire EMFI S.A. and SAPO S.A. (“EMFI/SAPO”), manufacturers of polyurethane-based structural adhesives and sealants headquartered in Haguenau, France, that complement 3M Industrial Adhesives and Tapes Division’s core industrial adhesives product line and provide access to the fast-growing polyurethane-based structural adhesives and sealants market segment.
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3M: 3M offers a broad spectrum of products including adhesives, bonding materials, coatings, and specialty materials. The company operates through four business segments: Safety & Industrial, Transportation & Electronics, Healthcare, and Consumer. It manufactures adhesives under each of its business segments, and they are used for various applications through its Safety & Industrial and Consumer segments. The company manufactures more than 60,000 products which are used in different industries, homes, institutions, and businesses. It operates in 70 countries and records sales in 200 countries. The company offers products and solutions to customers across the Americas, Asia Pacific, Europe, the Middle East, and Africa.
Arkema N.V. (Bostik): Arkema N.V. is a global manufacturer of specialty chemicals and advanced materials with four business segments—Advanced Materials, Coating Solutions, Adhesive Solutions, and Intermediates. The company acquired Bostik SA (the world’s no. 3 industrial adhesive manufacturer) in February 2015 to strengthen its position in the specialty chemicals market. Its adhesives are mainly used in the construction industry (both, interior and exterior use). Three years after joining Arkema’s high-performance materials segment, Bostik, the smart adhesives specialist, is leveraging investment, innovation, and customer approach to expand its technological leadership in the industrial, personal care, construction, and consumer products markets. The company operates in approximately 55 countries and has 144 production sites.
H.B. Fuller Company: H.B. Fuller is a global adhesive manufacturer, formulator, and marketer. The company has five operating segments: Americas Adhesives, Engineering Adhesives, Construction Adhesives, EMEA (Europe, the Middle East, and Africa), and Asia Pacific. It offers adhesives for various applications such as assembly of electronic devices, vehicle assembly, packaging, and flexible packaging. The company has a strong customer base and operates in several countries across Europe, North America, and Asia Pacific, among other regions. With 55 manufacturing sites in 42 countries, H.B. Fuller has the power to become a global adhesive supplier that also understands local challenges and priorities.
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