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Hot Melt Adhesives Market Global Trends 2018 to 2023, Future Growth & Industry Drivers
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Asia-Pacific (APAC) is the fastest growing hot melt adhesives market. The market revenue in the region is expected to witness a CAGR of 6.7% during the forecast period. This is attributed to the increasing need of high-performance materials across various applications and industries such as automotive and electronics, in the region.
Hot melt adhesives are considered ideal for various applications due to their superior properties of high speed manufacturing, large gap filling, bonding versatility, fast green strength (tensile strength), and minimal shrinkage. Along with that, they are very easy to store and do not require any special environment control and can also be applied in high humidity environments. All these factors are contributing to the growth of the APAC hot melt adhesives market.
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companies are developing bio-based adhesives to replace the chemical-based ones. In order to enhance the sustainability efforts without compromising performance, companies are developing these bio-based hot melts. For example, DowDuPont Inc. has developed a new hot melt adhesive, MOR-AD, which offers benefits including improved water resistance, high flexibility, and good adhesion on a variety of substrates.
Some of the major players operating in the global hot melt adhesives market are Henkel & Co. KGaA, Jowat SE, Sika AG, 3M Company, Bostik Inc., Avery Dennison Corporation, H.B. Fuller Company, Arkema Group, Westlake Chemical Corporation, Beardow & Adams (Adhesives) Limited., and DowDuPont Inc.
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