The global hot melt adhesives market is likely to grow at a significant CAGR of 6.40% in the forecast period. A thermoplastic polymer system when applied in a molten state results in a hot melt adhesive. The flow must be smooth on both the surfaces to allow rapid cooling at a room temperature. Hence, proper viscosity for hot melt adhesives to function at room temperature enables in an ideal product.
Driving factors responsible for the market growth include increase in use and extensive usage as applications across all verticals. Favourable regulations by the governments pertaining to the use of eco-friendly products is expected to fuel the market demand during the forecast period. In addition, the packaging industry plays a prominent role in the market expansion that leads into potential growth prospects. Rise in consumption of food products is also expected to gain a significant CAGR in the forecast period.
Product segmentation for hot melt adhesives market includes EVA, SBC, Polyolefin, PU, Polyamide and Polyester. EVA segment accounts for a greater market share owing to extensive use and versatile form. Application category for hot melt adhesives market include bookbinding, pressure sensitive products, packaging disposables, footwear, furniture, textile, electronics and automobiles. Disposables accounted for a significant market share in the forecast period due to rise in use of disposables in hygiene products, also the usage encompass baby diapers and baby hygiene products.
Geographical segmentation for hot melt adhesives market includes North America, South America, Europe, Asia-Pacific, Middle East and Africa. Asia-Pacific regions account for a remarkable CAGR during the forecast period due to surge in construction activities. Rise in industrial growth and heavy presence of manufacturing sector in the APAC region is likely to fuel the market growth. In addition, versatility of hot melt adhesives.
North American and European regions are likely to gain a strong position in the global market because of extensive demand for hot melt adhesives and rising popularity. The key players in the hot melt adhesives market include 3M Co, H.B., Fuller, Henkel AG & Co KgaA, Hexcel Corp, Dow Corning Corp, Toyobo Co Ltd, Jowat SE, Avery Dennison Corp, Evans Adhesives Corp Ltd, Dynea OY, Henkel AG & Co KgaA, Heartland Adhesives, Sika AG and Bostik Inc.
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.
• H.B. Fuller
Research Support Specialist, USA