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Polyester Hot Melt Adhesives Market Growth, Share, Demand and Analysis of Key Players to 2024
Hot melt adhesives can be composed of a variety of materials. Polyester resin is one such material. Polyester resins can be produced by reacting a dicarboxylic acid with a diol. The number of carbon atoms in the diol chain has a significant impact on properties of the resultant polyester resin. Longer the diol chain, higher is the melting point and rate of crystallization of the polyester produced. Additionally, the degree of crystallization of the polyester product is inversely proportional to length of the diol chain. Polyester hot melt adhesives compete with polyamide hot melt adhesives in terms of performance, bond strength, moisture resistance, and longevity. Polyester hot melt adhesives have lower strength and melting point as compared to polyamide hot melt adhesives. However, polyester hot melt adhesives are more tolerant to moisture owing to absence of hydrogen bonds. Other than these factors, polyester and polyamide hot melt adhesives are similar and are used in high-performance applications. Polyester hot melt adhesives are most commonly used in adhesion of fabrics due to their flexibility and compatibility with fabrics, especially polyester-based fabrics. Polyester hot melt adhesives offer high tensile strength and perform well at high temperatures. Polyester hot melt adhesives can be used individually as well as with several additives within the formulation based on various application requirements.
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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.
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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.
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.
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