Polyester Hot Melt Adhesives Market Latest Trends and Business Scenario 2030 | P&S Intelligence

Polyester hot-melt adhesives are being increasingly used by automobile manufacturers in lightweight vehicles owing to their low weight and high resistance to extreme temperatures. Conventionally, the automotive industry depended on mechanical fasteners, such as welds, nuts, and bolts, to bond vehicle components and parts, which increase the overall vehicle weight. Furthermore, the usage of such adhesives increases the production efficiency due to their quick adhesion properties. Thus, the burgeoning demand for lightweight vehicles will augment the consumption of polyester hot-melt adhesives worldwide.

Moreover, the growing packaging industry will help the polyester hot-melt adhesives market exhibit a CAGR of 5.3% during 2020–2030. The market revenue is expected to rise from $473,057.2 thousand in 2019 to $717,152.6 thousand by 2030. The high stability and excellent temperature resistance of such materials make them extremely viable for the packaging of food items, dairy products, fruit juices, and bottled water and for medical tapes, wound dressing materials, and band-aids. Thus, the growing preference for packaged food and beverages and the rising need for medical products will create a huge requirement for such adhesives.

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In recent years, the textile industry has been shifting from traditional stitching to the hot bonding technology due to the mounting customer awareness on the latter’s advantages. As hot-melt adhesives require no sewing, they have become ideal for the bonding of leather, polyester, wool, linen, and other products in textile manufacturing facilities. Additionally, the electrical and electronics industry uses such materials in bonding electrical components in smartphones, laptops, kitchen appliances, televisions, and other household electronics. Hence, the mushrooming demand for textiles and consumer electronics will fuel the consumption of polyester hot melt adhesives.

Nowadays, polyester hot-melt adhesive manufacturers are entering into strategic agreements to cater to a wider customer base. For instance, in May 2018, Jowat SE collaborated with Pidilite Industries Ltd. to offer a wide range of thermoplastic hot-melt adhesives for the manufacturing industry and modular and wooden furniture sector. As part of this collaboration, Pidilite Industries Ltd. handles the sales and distribution of the adhesive products of Jowat SE in India, Nepal, Bangladesh, and Sri Lanka.

Apart from these two companies, Bühnen GmbH & Co. KG, 3M Company, H.B. Fuller Company, Qidong Xinxin Hotmelt Adhesive Co. Ltd., Bostik S.A., Sika AG, Henkel AG & Co. KGaA, Mitsubishi Chemical Corporation, and Sipol S.p.a. offer such materials for industrial assembly, packaging, heat seal coating, electrical and electrical component manufacturing, and textile lamination. In the preceding years, the highest volume of such adhesives was used for industrial assembly applications due to the surging production of automobile components.

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According to P&S Intelligence, Asia-Pacific (APAC) led the polyester hot-melt adhesives market in the recent past, and it is also expected to retain its dominance in the foreseeable future. This can be credited to the burgeoning demand for consumer electronics and automobiles, in the region. Moreover, the expanding manufacturing sector in India, China, Vietnam, and Thailand, owing to the mounting foreign direct investment (FDI) from the West, will propel the consumption of such materials in the region.

Therefore, the escalating demand for consumer electronics, textiles, and lightweight vehicles will fuel the usage of polyester hot-melt adhesives across the world.

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This release was published on openPR.