Global hot-melt adhesives market size was estimated close to 1.5 million tons in 2014. This market is likely to be worth more than USD 8 billion by 2023 growing with an estimated CAGR of close to 6%.
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Ethylene-vinyl acetate (EVA) was the leading product segment and accounted for more than 50% of the total demand in 2014. Styrenics block copolymer (SBC) market was the second largest product category and is likely to witness steady growth rates over the forecast period. Packaging was the largest application segment and accounted for more than 33% of the total demand in 2014 and is likely to continue this dominance up to 2023.
Increasing investment in construction particularly in Asia Pacific and Middle East & Africa is likely to boost demand. It is used in various construction applications such as windows & doors, carpet seaming tape, plywood manufacture and panel bonding.
Asia Pacific was led by China hot-melt adhesives market, with a total construction spending estimated at USD 1.78 trillion in 2013 Japan and India spending was amounted to USD 742 billion and USD 427 billion in 2013 Asia Pacific is likely to overtake construction market share and be a dominant region by 2018.
Key regions such as North America and Europe are likely to witness moderate growth rates up to 2023. Increasing packaging demand for end-use industries such as food & beverages is likely to drive the market in these regions. Asia Pacific is likely to witness robust growth rates over the forecast period owing to growth in end-use industries such as packaging, footwear, electronics, construction and automobiles. Countries in this region such as China, India, Vietnam, Thailand and Indonesia are likely to witness an increase in hot-melt adhesives consumption.
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The global hot-melt adhesives market share is fragmented and is characterized by presence of large scale and small scale manufacturers across the value chain. Key companies operating include Dow Corning, Avery Dennison Corporation, 3M Company and Ashland. Other prominent companies include Henkel AG, American Chemical Inc., Jowat AG, Bostik Inc., Huntsman Corp, SIKA AG, BEMIS Associates Inc., H.B. Fuller Company and Dynea OY.
This latest Hot-melt Adhesives Market research report offers in-depth analysis, key industry insights, market sizing & forecast on a granular level for key products, applications across a number of regional markets. The report also analyzes the Hot-melt Adhesives Industry from business strategy perspective, describing in detail growth drivers, pitfalls &challenges for participants, accompanied by a detailed competitive benchmarking including company market share analysis and detailed business profiles.
Browse key industry insights spread across market data tables, figures & charts from the report, “Hot-melt Adhesives Market Size, Potential, Industry Outlook, Regional Analysis, Application Development, Competitive Landscape & Forecast, 2016 – 2023” in detail along with the table of contents:
Key Insights in this Report
- Hot-melt Adhesives Market size & forecast by product & application
- Growth drivers, pitfalls & industry challenges
- Key Hot-melt Adhesives Market growth opportunities & emerging business models
- Competitive benchmarking with market share analysis and company profiles
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