In-depth Analysis and Data-driven Insights on the Impact of COVID-19 Included in this Global Hot Melt Adhesives Market Report. The hot melt adhesives market is expected to grow at a CAGR of over 5.
New York, July 09, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Hot Melt Adhesive Market - Global Outlook and Forecast 2021-2026" - https://www.reportlinker.com/p06103702/?utm_source=GNW
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.
The following factors are likely to contribute to the growth of the hot melt adhesives market during the forecast period:
• Increased Usage of Hot Melt Adhesive in DIY Activities
• Rise in Use of Holt Melt Adhesives in Automobile
• Development of Bio-Based Hot Melt Adhesives
• High Acceptance of Hot Melt Adhesives in Construction Industry
The report considers the present scenario of the hot melt adhesives market and its market dynamics for the period 2021?2026. It covers a detailed overview of several market growth enablers, restraints, and trends. The study covers both the demand and supply sides of the market. It also profiles and analyzes leading companies and several other prominent companies operating in the market.
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.
Segmentation by Raw Materials
• Ethylene-Vinyl Acetate
• Styrenic Block Copolymers
• Amorphous Ploy-Alpha Olefin
• Metallocene Polyolefin
Segmentation by Product Form
Segmentation by Application
• Paper & Packaging
• Nonwoven & Disposable
• Book Binding
Segmented by End-User
o Electric & Electronics
Segmentation by Distribution Channel
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.
Segmentation by Geography
• North America
o South Korea
• Latin America
• Middle East & Africa
o Saudi Arabia
o South Africa
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.
• H.B. Fuller
Other Prominent Vendors
• Astra Chemtech
• Beardow Adams
• Bond Tech Industries
• Caswell Adhesives
• Franklin International
• IFS Industries
• Infinity Bond
• Kleiberit adhesives
• Master Bond
• Meridian Adhesive Group
• Nan Pao
• Power Adhesives
• Sun Pack
• Technical Adhesives
• Tex Year Industries
KEY QUESTIONS ANSWERED:
1. How much is the hot melt adhesives market worth?
2. Which region holds the largest share in the hot melt adhesives market?
3. Which segment is estimated to hold the largest share in the global hot melt adhesives market?
4. Which factors are expected to drive the adoption of these hot melt adhesive products?
5. Who are the top players in the global hot melt adhesives market?
Read the full report: https://www.reportlinker.com/p06103702/?utm_source=GNW
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