Dublin, July 20, 2021 (GLOBE NEWSWIRE) -- The "Hot Melt Adhesive Market - Global Outlook and Forecast 2021-2026" report has been added to ResearchAndMarkets.com's offering.
The hot melt adhesives market is expected to grow at a CAGR of over 5.57% during the forecast period 2020-2026.
Hot melt adhesives are witnessing high growth due to the rising demand in packaging, assembly, bookbinding, woodworking, and other applications industries. The high end-user variability of the industry makes the hot melt adhesives market one of the high-growth industries with high opportunities for vendors with different product categories.
APAC is one of the major contributors to the rapid growth of the adhesive market due rise in end-user industries that prefer hot melt adhesives due to their longer shelf life. The manufacturing sector is estimated to grow by around 10% over the next 5 years, which is expected to boost the demand for hot melt adhesives across the globe.
HOT MELT ADHESIVES MARKET SEGMENTATION
The global hot melt adhesives market research report includes a detailed segmentation by raw material, product form, applications, end-user, distribution, geography. The ongoing trend of eco-friendly products is likely to create more opportunities for bio-based hot-melt adhesives in the upcoming years.
Players are continuously focusing on introducing environment-friendly products in the global hot melt adhesives market. EVA hot melt adhesives are flexible and compatible with various other polymers and additives which makes the procedure easy. It is one of the raw materials used in hot melt adhesive that have application in the high-performance packaging industry.
Hot melt adhesives also come in pellet form are made up of chemical compounds that help in quick adhesion on permeable and impermeable surfaces. These hot melt adhesives in pellets is available in form of slugs, sachets, firm, powder, and tablets. It is most suitable for application in the manufacturing process where rapid melting is required. The pellets segment is expected to grow at a CAGR of 5.66% between 2020 and 2026.
The demand for consumer flexible packaging is high in the food and beverage, healthcare, and pet food segments. The demand for industrial packaging is expected to increase in the pharmaceutical industry due to the robust demand for drugs and PPE manufacturing. The industrial flexible packaging market is expected to witness high growth in the APAC region. There is high market demand in countries such as Singapore, Hong Kong, and New Zealand due to cost-effective labor, growing infrastructure, and established logistics.
The industrial end-user of the hot melt adhesives market is expected to witness incremental revenues of USD 3,421.55 million and absolute growth of 39% between 2020 to 2026. The automotive, aerospace, and electronics, are the early adopters of new adhesive technologies as they explore more robust weight-reducing materials. The packaging market in North America is at a mature stage and provides constant demand for hot melt adhesives.
The hot melt adhesives are used in the construction market during the repair and installation of floors, tiles, and ceilings. Residential use of hot melt adhesive includes the individual purchase of adhesives which is used for residential purposes such as DIY and other home improvement activities.
The adhesive industry is an offline intensive market that accounts for a significant share of purchasing time and product price. Offline distribution of adhesives is majorly done through wholesalers, distributors, and direct selling.
INSIGHTS BY GEOGRAPHY
In North America, the demand for adhesives is majorly driven by the packaging industry and is likely to enable the hot melt adhesives market growth during the forecast period. The US is the highest revenue generator in the region during the forecast period. North America has the highest number of airports, which are currently undergoing infrastructure expansion and modernization, worth more than USD 120 billion. The opportunity in this area alone is expected to provide a major boost to the market.
The global hot melt adhesives market is highly competitive with global, regional, and local players. Global hot melt adhesive companies have come up with new strategies such as the introduction of new products, marketing, and promotional activities, investing in joint ventures, and following dual-brand strategies in some regions to capture higher shares.
Other Prominent Vendors
Bond Tech Industries
Meridian Adhesive Group
Tex Year Industries
Key Topics Covered:
1 Research Methodology
2 Research Objectives
3 Research Process
4 Scope & Coverage
4.1 Market Definition
4.2 Base Year
4.3 Scope of the Study
5 Report Assumptions & Caveats
5.1 Key Caveats
5.2 Currency Conversion
5.3 Market Derivation
6 Market at a Glance
7.2 Glue Guns
7.3 Impact of COVID-19
8 Market Opportunities & Trends
8.1 Booming Packaging and Nonwoven Applications
8.2 Development of Bio-Based Hot Melt Adhesives
8.3 Increased Demand for Polyurethane-Based Hot Melt Adhesives
9 Market Growth Enablers
9.1 Increased Use of Hot Melt Adhesives in DIY Activities
9.2 Use of Hot Melt Adhesives in Automobile Industry
9.3 Rise in Demand from Construction Industry
10 Market Restraints
10.1 End-User Variability
10.2 Issues Faced in Application of Hot Melt Adhesives
11 Market Landscape
11.1 Market Overview
11.2 Five Forces Analysis
12 Raw Material
12.1 Market Snapshot & Growth Engine
12.2 Market Overview
12.3 Ethylene-Vinyl Acetate (EVA)
12.4 Styrenic Block Copolymers
12.5 Metallocene Polyolefin (mPO)
12.7 Amorphous Poly-Alpha-Olefin
12.8 Polyurethane (PU) (Including Reactive HMA)
13 Product Form
13.1 Market Snapshot & Growth Engine
13.2 Market Overview
14.1 Market Snapshot & Growth Engine
14.2 Market Overview
14.3 Paper & Packaging
14.6 Non Woven & Disposable
15.1 Market Snapshot & Growth Engine
15.2 Market Overview
16.1 Market Size & Forecast
17.1 Market Size & Forecast
17.6 Electrical & Electronics
18 Distribution Channel
18.1 Market Snapshot & Growth Engine
18.2 Market Overview
For more information about this report visit https://www.researchandmarkets.com/r/ze4ibw
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