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Polyester Hot Melt Adhesives Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 – 2024
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Polyester hot melt adhesives are utilized in niche applications and constitute less than a tenth of the hot melt adhesives market. The polyester hot melt adhesives market is primarily driven by high demand from high-performance applications in protective clothing. It is mostly used in protective jackets, hazmat suits, and fabric applications where high temperature tolerance is necessary. Hot melt adhesives offer advantages such as quick curing time, low VOC emissions, and easy application through the glue gun. However, production of polyester hot melt adhesives is slightly complex, and minor mishandling can lead to weaker brittle bonding. This allows for its substitution with cheaper hot melt adhesive products. Development of new formulations for novel applications in the packaging industry is anticipated to be a prospective avenue for future growth of the polyester hot melt adhesives market in the near future.
Global Polyester Hot Melt Adhesives Market: Drivers and Restraints
Rising market demand and incessant push for eco-friendly adhesives have led to rise in strategic initiatives by market players in the past years. Key players are prying new markets through agreements, joint ventures, partnerships, and collaborations globally to use the advantage of untapped market opportunities while availing the benefits of combined operational synergies.
Fluctuating raw material prices are a chief restraining factor likely to hinder the market growth. Polyester hot melt adhesives are downstream specialty derivatives of petroleum-based feedstock, prices of which ebb and flow with the commodity marketplace. This puts downward pressure on the margins of industry players, especially small- and medium-sized players, who are already pitching aggressively low prices to gain market share in the highly fragmented market.
Global Polyester Hot Melt Adhesives Market: Regional Outlook
The polyester hot melt adhesives market in Asia Pacific is fueled by rising demand from end-user industries including packaging, book-binding, automotive, transportation, textiles, and footwear industries. Additionally, a movement away from solvent-based adhesives owing to harmful effects of volatile organic compounds (VOC) emitted from these adhesives is anticipated to boost market growth of polyester hot-melt adhesives in all geographies in the long term. Steady pressure from regulatory bodies including REACH (Registration, Evaluation, Authorization, and Restriction of Chemicals) and EPA (Environmental Protection Agency) is likely to limit the usage of solvent-based adhesives in a bid to reduce severe impact on the environment, especially in Europe and North America. This, in turn, is projected to alleviate the global hot melt adhesives market, including polyester hot melt adhesives. Furthermore, strong bonding without the necessity to cure these adhesives after dispensing boost the designing of easier and low-cost industry processes. This is an incentive for market players and price-sensitive buyers to shift from conventional adhesives to hot melt adhesives.
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Global Polyester Hot Melt Adhesives Market: Companies Mentioned in the report
Major share of the market is serviced by small and medium-sized players. Key global players in the polyester hot melt adhesives market include Henkel AG & Co. KGaA, H. B. Fuller Company, Bostik SA, Eastman Chemical Company, and Sika AG.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
Market segments and sub-segments
Market trends and dynamics
Supply and demand
Market size
Current trends/opportunities/challenges
Competitive landscape
Technological breakthroughs
Value chain and stakeholder analysis
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