Hot Melt Adhesives Market Overview, Share, Growth | Global Forecast Report 2028

The research report "Hot Melt Adhesives Market: By Type (APAO (Amorphous Poly- Alpha Olefin, Polyamide, EVA (Ethylene Vinyl Acetate), PU (Polyurethane) SBC (Styrenic Block Copolymer), and Others), By Industrial Application (Book Binding, Furniture, Non -Woven Disposables, Packaging and Pressure Sensitive Uses, and Others), and Geography- Global/Region/Country Forecast to 2028." The global hot melt adhesives market is projected to be valued at USD 7 billion in 2021 and poised to grow at a significant CAGR rate of 5.5% over the future period 2022-2028.

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An Overview on the Global Hot Melt Adhesives Market:
This report studies global market dynamics elaborately to identify the current market trends and drivers, future opportunities and possible challenges to the key stakeholders operating in the market. Hot melt adhesives do not need drying or curing, unlike their solvent-or water-based equivalents. They can be applied in their molten state and bonded immediately, giving them the distinctive advantage of quicker processing times in different applications including industrial assembly, packaging, furniture, nonwovens and others. The global hot adhesives market is classified into EVA, APAO, SBC, PU, polyamide and others on the basis of type. Ethylene vinyl acetate is anticipated to dominate the market because of the increasing application of hot melt adhesives in packaging industry, board industry, paper industry and others. Growing demand from packaging and nonwoven products applications is one of the major factors fuelling the market expansion. Product demand for industrial assembly applications in the U.S. and facility closures are anticipated to fall sharply in 2020. Medical device makers are rapidly scaling production to suit the sudden spike in demand from healthcare providers; therefore there is huge demand for the product from the healthcare segment.

Asia Pacific accounted for larger revenue share in the Global Hot Melt Adhesives Market:
Global hot melt adhesives market report provides comprehensive viewpoint on hot melt adhesives market across the globe with special focus on major regions such as Europe, Asia Pacific, North America, Latin America, Middle East and Africa. Among these regions, Asia Pacific got major revenue share because of the growing demand for hot melt adhesives. North America market is projected to exhibit moderate CAGR due to increased production of automotive and growing demand from the electronics and health care sector. Europe exhibits a considerable growth in hot melt adhesives market because of the increased application in packaging sector and automotive industry. Latin America also witnesses significant growth in market because of the growing demand for construction designs. Electrical, automotive, Construction and packaging are the end user industries rapidly expanding in different countries of Latin America such as Brazil. Middle East and Africa market is also estimated to increase during forecast period because of the growing demand of packaging industry from the growing population.

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Major players working in the global hot melt adhesives market are Toyobo Co.Ltd., 3M Company, Sika AG, and Ashland Inc. and Jowat AG.

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