Hot melt adhesives provide various beneficial properties over solvent-based adhesives such as good thermal stability, safer storage, environmental compatibility, and others. Hence, increased utilization of hot melt adhesives or hot glues in various end-use industries to get optimum results is majorly propelling the growth of the global hot melt adhesives market.
Hot Melt Adhesives major advantages over solvent-based adhesives such as high durability, faster drying and reduced emission of volatile organic compounds are inducing high demand for hot melt adhesives in various end-use industries. The report published by Market Research Future (MRFR) projects that the global hot melt adhesives market is marked to exhibit notable growth during the forecast period of 2017-2023.
- The 3M Company
- The Dow Chemical Company
- Henkel AG & Co. KGaA
- Huntsman International LLC.
- Dow Corning Corporation
- Sika AG
- RPM International Inc.
- H.B. Fuller Company
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Segmentation by Type: The market is further segmented into ethylene vinyl acetate, polyamide, polyolefin, polypropylene and polyurethane.
Segmentation by Application: The market is further segregated into food packaging, buildings and construction, general consumer packaging, wood working, carton sealing, and others.
Table Of Contents:
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
4 Market Landscape
4.1 Five Forces Analysis
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The global hot melt adhesives market is segregated into five regions in the world namely Asia Pacific, North America, Europe, Latin America and the Middle East & Africa. Asia Pacific is predicted to grow at the highest CAGR during the forecast period due to its growing use in end-use industries such as construction, food packaging, and others. Countries such as Japan and India have witnessed a rapid development in the market owing to improving standard of living and rapid urbanization. The hot melt adhesives market has been driven by the rising manufacturers and investors to change their interest from solvent based to hot melt adhesives owing to their environmental compatibility.
Europe holds the major share in the global hot melt adhesives market owing to rising demand from automobile, defense, energy and other industries. Germany, the U.K. and Italy are the prominent players in this region owing to rapid development achieved in the production of hot melt adhesives. It is estimated that the ethylene vinyl acetate segment is set to grow at the highest CAGR owing to growing usage in end-use industries and several benefits over other adhesives such as anti-oxidant and strong mechanical resistance properties.
The global hot melt adhesives has witnessed a notable growth in the North American market owing to growing popularity of polyurethane adhesives. The U.S.A., Canada and Mexico are the important players in this region owing to rapid usage in packaging segment. It is estimated that the packaging segment is set to witness a higher CAGR during the forecast period owing to growing usage in various industries such as healthcare, food and beverages and others.
The Middle East & Africa is projected to witness a stunted growth in the hot melt adhesives market due to economic slowdown of crude oil prices and shrinking construction industry. In addition to this, the global hot melt adhesives market is set to witness a rapid growth in the polymer industry during the forecast period owing to growing usage of polyamide, polyurethane hot melt adhesives.
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