Hot Melt Adhesives Market Expected to be Valued at US$ 8.9 Bn by 2025

Introduction:

Hot melt adhesives are 100% solid thermoplastic materials without any volatile organic compounds, which makes them safe for use in production, transportation, application and storage. They are also environment friendly and safe for use by humans. Hot melt adhesives consist of one or more polymers as well as additives such as stabilizers, pigments and resins which are carefully blended to exhibit different characteristics from base polymers. Hot melt adhesives are named after polymer bases. Various types of hot melt adhesives are ethylene vinyl acetate, polyolefin, polyamide, styrenic block copolymers, polyester, etc. Hot melt adhesives are used for applications in industries such as packaging, non-woven, automotive, product assembly, textiles, tapes and labels, woodworking, paper bonding, electronics and many more.

Market Value and Forecast:

The global hot melt adhesives market is anticipated to expand at a moderate CAGR during the forecast period. Market growth is mainly driven by technological advancements and product innovations in polymer bases. The global hot melt adhesives market is valued at US$ 5.4 Bn in 2015 in terms of value. Another major reason for the rise in demand for hot melt adhesives is its solvent free properties that comply with the regulatory authority’s requirements. This has led to increased production and consumption of hot melt adhesives. The global hot melt adhesives market is segmented on the basis of polymer bases, applications and regions.

Segmentation by Polymer Base:

The global hot melt adhesives market is segmented on the basis of the polymer base into ethylene vinyl acetate, polyolefin, polyamide, styrenic block copolymers and others. Out of these polymer bases, ethylene vinyl acetate accounted for over 40% of the global market share in 2015. Polyolefin is anticipated to be the fastest growing segment during the forecast period. The growth of ethylene vinyl acetate segment is expected to remain steady due to the availability of innovative and improved polymer bases.

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Segmentation by Application:

The global hot melt adhesives market is segmented on the basis of application into packaging, automotive, construction, healthcare products and others. Others include textile, electronics, footwear and paper bonding. Out of all these applications, the packaging segment is expected to dominate with over 35% of the market share in 2015. Moreover, it is expected to be the fastest growing segment during the forecast period, followed by healthcare products.

Key Regions:

The global hot melt adhesives market has been segment into seven major regions including North America, Western Europe, Asia Pacific Excluding Japan (APEJ), Japan, Eastern Europe, Latin America and the Middle East & Africa. Of all the regions, North America dominated the market with over 30% of the total market share in 2015. Western Europe is ranked second with more than 18% market share in 2015. In addition, Asia Pacific is anticipated to become the fastest growing region in the global hot melt adhesives market. Eastern Europe and the Middle East & Africa together accounted for 15% of the total market share in 2015 and are expected to witness a steady growth during the forecast period.

Key Players:

Some of the key players in the global hot melt adhesives market are Henkel AG & Co. KGaA, H. B. Fuller, Sika AG, The 3M Company, Arkema Group, Ashland Inc., Jowat AG, Palmetto Adhesives Company, Sipol S.p.A. and Sealock Ltd. These players continue to expand their global presence in emerging markets by establishing manufacturing plants in proximity to developing regions so as to reduce distribution costs and have direct interaction with customers. Moreover, major players are investing heavily in research activities so as to keep pace with changing market trends.

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This release was published on openPR.