The global hot melt adhesives market is expected to display higher growth rate by next five years. The hot melt adhesives market is subject to witness a substantial growth due to the increasing demand from building & construction sector, and rising infrastructure spending by developed and developing economies across the globe. Increase in the number of infrastructure projects like that of smart cities by BRICS economies such as Brazil, Russia, India, China and South Africa are anticipated to stimulate the growth of hot melt adhesives market in the upcoming period.
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Globally, the hot melt adhesives market is predicted to generate massive revenue in the forecast period, providing numerous opportunities for market players to invest in research and development of the hot melt adhesives.
The recent technological advancements coupled with introduction of novel products such as Ethylene Vinyl Acetate (EVA), Styrenic Block Copolymers (SBC), and Polyvinyl Acetate (PVA) are expected to drive market growth over the forecast period. Growing popularity of Ethylene Vinyl Acetate (EVA) among various manufactures of hot melt adhesives is attributed to cost efficiency of the product.
Growing demand from pressure sensitive industries for hot melt adhesives is projected to boost global trade. Hot melt adhesives have capability to directly bond with plastics, ceramics and other types of composites in comparison with other traditional adhesives. These factors are expected to drive the growth of the hot melt adhesives market in the upcoming years.
Increasing competition in the market has led to development of innovative products, thereby positively affecting market growth. Growing supply and demand gap is expected to offer lucrative growth opportunities for industry participants. Aggressive marketing strategies adopted by market players to gain competitive advantages over their counterparts are predicted to stimulate market growth further.
Shifting trend towards polyolefin-based adhesives is a key growth factor for hot melt adhesives market, in the recent years. Additionally, declining consummation of the solvent-based traditional adhesives owing to their hazardous effect is leading to the increasing demand for hot melt adhesives.
Exclusive properties of hot melt adhesives such as strong adhesion, longer life span, cost efficiency and superior performance are expected to favor market demand over other solvent-based adhesives. However, fluctuating cost of crude oil and higher manufacturing cost ae some of the key challenges of sustained market growth. In addition, stringent laws & regulation associated with health hazards due to the greenhouse gas emission during production of hot melt adhesives is expected to restrain market growth to a certain extent.
The hot melt adhesives market is broadly categorized into four major segments based on application type such as packaging sector, nonwoven hygiene products, bookbinding, and furniture & woodwork. Packaging sector is considered as one of the fastest growing segment in the hot melt adhesives market with substantial revenue generation in the last couple of years. Growing popularity of hot melt adhesives in packaging segment is attributed to increasing demand for packaged food & beverages. The nonwoven hygiene products segment also witnessed massive growth in terms of value and volume, in the last few years.
The hot melt adhesives market is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in the implementation of latest technologies in packaging industry and existence of well-established industrial infrastructure. Asia-Pacific region is predicted to hold major market share in the hot melt adhesives market with massive growth in forecast period. Countries such as India, China, Malaysia, Vietnam, Indonesia and Japan are leading the Asia-Pacific market with increasing manufacturing activities, strong economic growth, varying consumer preferences, and significant investment by leading industry players considering potential growth opportunities in the region.
The key players in the hot melt adhesives market are The 3M Co., American Chemicals Inc., Worthen Industries Inc., Ashland Inc., Wisdom Adhesives Worldwide, Avery Dennison Co., Jowat AG, DOW Corning Co., Evans Adhesives Co., Ltd., Dynea OY, Henkel AG & Company KGAA, Hexcel Co., Bostik Inc., Huntsman Co., BEMIS Associates Inc., SIKA AG, and Beardow & ADAMS Ltd.
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About Hot Melt Adhesives
Hot melt adhesives are polymer-based cylindrical sticks that are thermoplastic in nature. They melt on applying heat and get solidified on cooling. Based on the raw material and composition of the substances, hot melt adhesives are classified into ethylene-vinyl acetate (EVA)-based hot melt adhesives, styrene block polymer (SBC)-based hot melt adhesives, polyamide-based hot melt adhesives, polyolefin-based, polyester-based, and polyurethane-based hot melt adhesives.
Covered in this report
The report covers the present scenario and the growth prospects of the global hot melt adhesives market for 2018-2022. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Global Hot Melt Adhesives Market 2018-2022, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
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