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Hot Melt Adhesives Market 2019-2023 Industry Analysis, Market Trends, Size, Share, Growth and Key Players Include Arkema, Henkel AG & Co. KGaA, H.B. Fuller, The Dow Chemical Company, RPM International Inc.
Hot Melt Adhesives Market, Global Hot Melt Adhesives Market, Hot Melt Adhesives Industry, Hot Melt Adhesives Market Size, Hot Melt
Top Key Players:
Some of the important players in the Global Hot Melt Adhesives Market: Arkema (France), The 3M Company (U.S.A.), Henkel AG & Co. KGaA (Germany), Huntsman International LLC. (U.S.A.), Dow Corning Corporation (U.S.A.), Sika AG (Switzerland), RPM International Inc. (U.S.A.), H.B. Fuller Company(U.S.A.), The Dow Chemical Company( U.S.A.), among others.
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Hot Melt Adhesives, also known as hot glue are thermoplastic in nature. Hot Melt Adhesives are composed of solvent free compounds which are used to develop a strong and flexible bond between the materials. They are found as solids at room temperature and are thermoplastic in nature. These adhesives are first melt, cooled and then applied on the surface to give the perfect finish. They are used for creating a strong molecular attraction between the materials. These adhesives are applied in their molten state and then solidify after cooling. Hot Melt Adhesives are known for their non-toxic and ecofriendly nature. They are of five types namely ethylene vinyl acetate, polyolefin, polyamide, polypropylene and polyurethane hot melt.
Segmentation:
The Global Hot Melt Adhesives Market is fragmented by type and application.
Ethylene vinyl acetate, polyolefin, polyamide, polypropylene and polyurethane segments are known, on the basis of market type. Among these, ethylene vinyl acetate segment holds the major share in the market due to growing demand in end-use industries such as buildings & construction, food packaging, product assembly, and others. It possess several advantages over water based additives such as environmental friendly nature and antioxidant characteristic.
The polyamide adhesives provide high thermal resistance and are used in extremely high temperature applications, however their growth in the market is being hindered by their cost. Growing demand from the polymer industry has propelled polyurethane segment to witness a higher CAGR during the forecast period. The polypropylene adhesives are used in spray formulations to generate delayed setting time properties. Food packaging, buildings & construction, wood working, carton-sealing, and others are classifications on the basis of application.
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Regional Insights:
The Global Hot Melt Adhesives Market is segregated into five key regions namely Asia Pacific, North America, Europe, Latin America and the Middle East & Africa.
During the forecast period, Asia Pacific has been emerged to grow at the highest CAGR during the forecast period owing to increasing usage in end-use industries such as wood working, general consumer packaging and electronics, among others. The success achieved in Hot Melt Adhesives Market has propelled investors and manufacturers to shift their focus from water based to Hot Melt Adhesives due to its reliable and versatile nature. Countries such as India and Japan have witnessed a significant development in the automobile and transport sector owing to advantages offered by the product such as low VOC emission, quick setting and durable retention.
Globally, European region led the Global Hot Melt Adhesives Market in 2015 and is expected to continue its rule during the forecast period, 2017-2023. The well-known players in this region are Germany, the U.K. and France due to increasing usage in heavy end industries such as automobile, defense, buildings & construction, among others.
The Global Hot Melt Adhesives Market has witnessed an enormous growth in the North American countries such as the U.S.A., Canada and Mexico due to rising demand in the packaging segment. The food packaging segment has been leading the market in this region and is anticipated to continue its dominance during the forecast period, 2017-2023.
The Middle East & Africa has witnessed a stunted growth in the market due to economic slowdown of crude oil prices. Countries such as Brazil, Uruguay and Argentina in the Latin American region are estimated to witness a rapid growth in the Hot Melt Adhesives market due to rapid production and manufacturing of polyurethane units in heavy end industries.
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