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The Global Hot Melt Adhesives Market is valued at USD 5,804.61 million and XX kilo tons in 2016 and is projected to reach USD 7,849.55 million and XX kilo tons by 2021, at a CAGR of 6.22% and 4.29%, respectively, during the forecast period from 2016-2021. Asia-Pacific is the current world leader followed by North America and Europe. China is the largest consumer of hot melt adhesive products owing to the greater demand from the manufacturing industry.
The Global Hot Melt Adhesives (HMA) Market has been segmented on the basis of type into polyolefin, polyamide, polyurethane, ethylene vinyl acetate, styrene block copolymer, and others. On the basis of application, the market has been segmented into packaging & bookbinding, transportation, footwear, construction & woodworking, electronics & electrical assembly, non-woven application (Hygiene products, medical applications, leisure and sportswear applications and Upholstery), and others.
Asia-Pacific is expected to maintain its dominance over the forecasted period. North America is expected to show an average growth, whereas the Asia-Middle East & Africa region is expected to witness a rapid growth in the HMA market, with a CAGR of XX%, in the near future. Increase in the number of manufacturing units in the developing regions, such as India, is also expected to be the major driver for the Asian market. Additionally, the growth of packaging, non-woven, and pressure sensitive industries in China and India will drive the demand for the global hot melt adhesives market. Market players are keen to expand their product portfolio and offer it to consumers at competitive prices.
The major market players are focusing on R&D activities to innovate products under the regulations of EPA and REACH. Other development strategies opted by market players include signing agreements and collaborations to optimize their distribution chain in growing economies. The growth is largely fueled by the increasing application areas, technological advancements, and growing demand in the developing countries, such as China, India, and Brazil. The constant push from regulatory authorities, such as EPA (Environmental Protection Agency) and REACH (Registration, Evaluation, Authorization, and Restriction of Chemicals), will shift the use of solvent-borne adhesives to hot melt adhesives, aiding in the growth of the studied market.
However, volatility in raw material prices is a major challenge in the global hot melt adhesives market. Regulations regarding food safety in the food packaging industry will affect the demand pattern for hot melt adhesives as well, hindering the growth of this market. Some of the major players in hot melt adhesives market, discussed in the report are 3M, Ashland Inc., Beardow Adams (Adhesives) Ltd., Arkema Group (Bostik SA), Dow Corning Corp., Dow Chemicals, H.B. Fuller, Henkel AG & Co. KGaA, Hexcel Corp., Huntsman Corp., Jowat AG, and Sika AG.
Key Deliverables in the Study:
Market analysis for the Global Hot Melt Adhesives Market, with region-specific assessments and competition analysis on global and regional scales
Market definition along with the identification of key drivers and restraints
Identification of factors instrumental in changing the market scenarios, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale
Extensively researched competitive landscape section with profiles of major companies along with their market shares
Identification and analysis of the macro and micro factors that affect the global hot melt adhesives market on both global and regional scales
A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information
A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market
Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped