December 19, 2019
According to the research report titled ‘Hot Melt Adhesives Market Size, Industry Analysis Report, By Products (Ethylene Vinyl Acetate (EVA), Styrenic Block Copolymer (SBC), Amorphous poly-alpha-olefin (AMOP), Metallocene Polyolefins (MPO), Polyurethane (PU), Polyamide (PA), Polyester), By Application (Packaging, Disposables, Pressure sensitive products, Book binding, Furniture, Footwear, Automobile, Textile, Electronics), Industry Outlook Report, Regional Analysis, Application Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2026’, available at MarketStudyReport.com, the global hot melt adhesives market is projected to cross USD 10 billion by the year 2026.
Growing e-commerce industry and increasing online retail channels are major factors driving the hot melt adhesives market. Favorable federal reforms which encourage using high-quality adhesives in automobile manufacturing is also aiding the expansion of the market. Hot melt adhesives offer properties such as durability in harsh conditions and high resistance to wear & tear.
Growing population along with surging need for high-performance textiles for manufacturing of daily wear and sports apparel is propelling the demand for polyester based hot melt adhesives, which in turn is fueling the industry growth. Escalating investments in R&D activities by key industry players leading to development of acid resistant and mechanically flexible products is influencing the market trends.
In terms of product type, polyurethane (PU) based adhesives market is expected to grow in the upcoming years, due to rising utilization of these products across pharmaceuticals, cosmetics, and electronics packaging industries. Adding to this, growing inclination for high-quality footwear among consumers for outdoor activities is also boosting the growth of the PU segment.
Considering geographical landscape, North America hot melt adhesives market is expected to grow substantially during the estimated timeframe. Strict directives regarding the use of nontoxic adhesives for food packaging is compelling the key players to develop products which increase shelf-life, inhibit oxidations and have lower residual toxicity levels.
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On the other hand, strict regulations in automobile industry to use high-performance materials will drive the Europe hot melt adhesives market. Furthermore, rising automobile industry, escalating consumer disposable income, in consort with appealing automotive loans are aiding in the expansion of holt melt adhesives market in Europe.
The prominent companies operating in hot melt adhesives industry are 3M Co., Sika AG, Ashland, Inc., Arkema Group, Henkel AG & Co., KGaA, Palmetto Adhesives Co., Jowat Klebstoffe, Dow Consumer Solutions, American Chemical, Inc., and Avery Dennison Corp. among others.
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