The global hot melt adhesives market size is expected to reach USD 9,702.2 million by 2027, exhibiting a CAGR of 5.3% during the forecast period. The growing need for advanced products coupled with favorable government policies are factors expected to aid expansion of the global market, states Fortune Business Insights, in a report, titled “Hot Melt Adhesives Market Size, Share & COVID-19 Impact Analysis, By Raw Material (Ethylene Vinyl Acetate (EVA), Polyolefin, Styrenic Block Copolymers (SBC), Polyurethane (PU), Polyester, and Others), By Application (Packaging, Assembly, Woodworking, Transportation, Building & Construction, Footwear & Leather, Nonwovens, Bookbinding, and Others), and Regional Forecast, 2020-2027.” The market size stood at USD 6,745.2 million in 2019.
The catastrophe caused by coronavirus has disrupted the supply chain of every industry around the world. We understand that this health emergency has negatively impacted various sectors across the globe. Rising support from governments and several companies can help in the fight against this highly infectious virus. Some industries are struggling, and some are thriving. More or less, nearly every sector is estimated to be impacted by this pandemic.
The report on the hot melt adhesives market contains:
- An all-inclusive study of the market
- Vital market trends and drivers
- Emerging industry developments
- Comprehensive data about eminent players
- Competitive landscape
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”The global hot melt adhesives market size was USD 6,745.2 million in 2019 and is projected to reach USD 9,702.2 million by 2027, exhibiting a CAGR of 5.3% during the forecast period”
- A comprehensive overview of the Hot Melt Adhesives Market
- Significant factors boosting, restricting, challenging and providing an opportunity to the market
- Key insights and major industry developments
- Significant players functioning in the Hot Melt Adhesives Market
- Major strategies adopted by players such as the launch of new products for better revenue generation, company collaborations, and others
- Other market trends
List of the Leading Companies Profiled in the Global Hot Melt Adhesives Market are:
- Exxon Mobil Corporation (Texas, U.S.)
- Dow Inc. (Michigan, U.S.)
- 3M (Minnesota, U.S.)
- Henkel AG & Co. KGaA (Düsseldorf, Germany)
- MELER (Orkoien, Navarra)
- Sanyhot Adhesivos, S.A. (Tarragona, Spain)
- TEX YEAR INDUSTRIES INC. (New Taipei City, Taiwan)
- H.B. Fuller Company (Minnesota, U.S.)
- Arkema Group (Pennsylvania, U.S.)
- Sika AG (Baar, Switzerland)
- Bostik (Wisconsin, U.S.)
- Jowat SE (North Carolina, U.S.)
- AVERY DENNISON CORPORATION (California, U.S.)
- LyondellBasell Industries Holdings B.V. (Rotterdam, Netherlands)
- Embagrap SA (Barcelona, Spain)
- Other Key Players
Key Market Driver:
Increasing Application of Hot Melt Adhesives to Enable Speedy Expansion
The increasing application of hot melt adhesive manufacturers owing to its advantages such as high productivity induced by process automation, a wide variety of applicability, eco-friendliness, and re-adhesion possibility will have a tremendous impact on this market. The shift from solvent-based adhesive or water-based adhesive to hot-melt adhesive owing to its high-speed adhesion will spur demand in the forthcoming years. For instance, during solidification, HMAs do not lose thickness, whereas solvent-based hot melt adhesives can lose up to 50-70% of layer thickness during the drying process. Moreover, its high efficacy reduces the amount of material used, thereby resulting in low labor costs. The hot-melt adhesive exhibits significant advantages compared to conventional solvent-based adhesives that typically require evaporation and removal of solvents or polymerization to bind substrates together. Hence, the growing utilization of HMA in end-use industries will positively foster the pur hot melt adhesive market’s healthy growth.
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Shortage of Workers to Retard Business Development amid Coronavirus
A temporary halt on operations has negatively impacted the global market. The automotive industry experienced a massive hit due to the disruption caused by the coronavirus. For instance, PSA, Renault, and Fiat Chrysler closed their production at their manufacturing plants. Renault halted manufacturing through 12 production sites affecting about 18,000 workers in France. Similarly, the construction industry was destructively impacted by the pandemic. However, high government spending on infrastructure and affordable housing for residents is expected to stabilize the hot glue in the near future.
Capacity Expansion of Key Players to Boost Market
The global market is dominated by key players Henkel AG & Co. KGaA, 3M, H.B. Fuller Company, Bostik, Sika AG, Arkema Group, and Dow Inc. Prominent companies in the market are focused on expanding their production capacities to strengthen their position in the market. Moreover, key players accentuate on improving their distribution network to gain a competitive advantage in the market.
Booming Construction Industry to Consolidate Market in Asia Pacific
The market size in Asia Pacific stood at USD 3,138.3 million in 2019. Asia Pacific is expected to dominate the global hot melt adhesives market share during the forecast period. The increasing use of hot melt adhesives in emerging economies such as India, Japan, and China will favor the market in the region. The furniture and building industries are expected to contribute significantly to the growth of the market. The heavy investment in infrastructure is likely to create lucrative opportunities for the market in Asia Pacific. The rapidly expanding packaging industry will spur demand for HMA, thus aiding the hot melt adhesives market growth in Asia Pacific.
Some of the Key Questions Answered in this Report:
- Detailed Overview of Hot Melt Adhesives Market will help deliver clients and businesses making strategies.
- Influencing factors that are thriving demand and latest trends running in the market.
- Hot Melt Adhesives Market forecast for global market split into segments like region, product, applications, end-user, technology, etc.
- What trends, challenges and barriers will impact the development and sizing of the Global Hot Melt Adhesives Market?
- SWOT Analysis of each defined key player along with its profile and Porter’s five forces analysis to complement the same.
- What is the Hot Melt Adhesives Market growth momentum or market carries during the forecast period?
- Which region may tap the highest market share in the coming era?
- Which application/end-user category or Product Type may seek incremental growth prospects?
- What focused approach and constraints are holding the Hot Melt Adhesives Market demand?
August 2019: Henkel AG & Co. KGaA introduced WB and Mineral Oil-free Hot-melt PSAs at Labelexpo 2019. Henkel will provide a water-based pressure-sensitive adhesive solution with excellent wash-off characteristics through its new Aquence PS 3682.
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