According to Future Market Insights (FM latest )’s market report, “Hot Melt Adhesives Market: Global Industry Analysis and Opportunity Assessment 2015-2025,” the hot melt adhesives market is expected to be worth US$ 5.4 billion in 2015 and grow at a CAGR of 5.2 percent from 2015 to 2025, reaching US$ 8.9 billion by 2025.
A hot melt adhesive is a thermoplastic glue that melts when applied and then cools to achieve adhesion strength. Hot melt adhesives are made up of one or more polymers, as well as stabilizers, pigments, and resins, all of which are carefully combined to give them distinct properties from base polymers.
Polymer bases are the names given to hot melt adhesives. Ethylene vinyl acetate, polyolefin, polyamide, styrene block copolymers, polyester, and other hot melt adhesives are examples. Packaging, nonwovens, automotive, product assembly, textiles, tapes and labels, woodworking, paper bonding, electronics, and many other industries employ hot melt adhesives.
Hot melt adhesives are solid thermoplastic polymers that do not contain any volatile organic compounds, making them safe to use in manufacturing, transportation, application, and storage. They are also safe for human usage and good to the environment.
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Hot melt adhesives have a competitive advantage over water and solvent-based adhesives due to properties such as faster setting times, heat resistance, and ease of disposal, which is a major driver driving market expansion.
Hot melt adhesives have a setting time of 5 to 30 seconds, allowing for faster manufacturing lines than conventional adhesives. Furthermore, technical improvements in polymer bases are projected to propel this market even further. In developed countries, the development of hydrophilic and polyamide hot melt adhesives is gaining traction, propelling the hot melt adhesives market forward.
The hot melt adhesives market is divided into ethylene vinyl acetate, polyolefin, polyamide, styrenic block copolymers, and others based on the polymer base. By 2025, the ethylene vinyl acetate sector is expected to account for a significant portion of the hot melt adhesives market.
The polyolefin sector has the largest global market share and is predicted to grow at the fastest rate of 6.4 percent in terms of value over the forecast period (2015-2025). During the projection period, styrene block copolymers and ethylene vinyl acetate-based hot melt adhesives are expected to increase at a stable rate.
The hot melt adhesives market is divided into packaging, automotive, construction, healthcare items, and others based on application. Textiles, electronics, paper bonding, and footwear are among the others. With a global market share of over 35%, the packaging category is likely to dominate the industry. In the near future, the use of hot melt adhesives in healthcare items is predicted to skyrocket.
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By Polymer Base
- Ethylene Vinyl Acetate
- Styrenic Block Copolymers
- Healthcare Products
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific Excluding Japan (APEJ)
- Middle East & Africa
During the projection period, application in healthcare items is expected to grow at a CAGR of 5.4 percent. Increasing hygiene awareness, as well as technological improvements in polymer bases, particularly for hygiene, are likely to drive demand for hot melt adhesives over the forecast period.
In addition, the research contains an analysis of the parent market as well as major laws governing the use of these adhesives. The market is divided into seven regions based on geography. By the end of 2015, North America is predicted to have a 30 percent share of the market. In terms of value, Asia Pacific is expected to grow at the fastest rate, with a CAGR of nearly 9% over the projection period.
The study also covers market opportunities, future prospects, trends, BPS analysis, market attractiveness analysis, and the competitive landscape of the top players in the hot melt adhesives market. A firm overview, financials, operating segment share, product and service offerings, business strategies, SWOT analysis, and important developments have all been documented for key companies.
Henkel AG & Co. KGaA, H. B. Fuller, Sika AG, Arkema Group, Ashland Inc., The 3M Company, Jowat AG, Sipol S.p.A., Palmetto Adhesives Company, and Sealock Ltd. are some of the major competitors in the worldwide hot melt adhesives market.
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.