Hot Melt Adhesives Market Size, 2020 Industry Share and Global Demand | 2027 Forecast by Fortune Business Insights™
The global hot melt
adhesives market size is expected to reach USD 9,702.2 million by 2027, exhibiting
a CAGR of 5.3% during the forecast period. The growing need for advanced
products coupled with favorable government policies are factors expected to aid
expansion of the global market, states Fortune Business Insights, in a report,
titled “Hot Melt Adhesives Market Size, Share & COVID-19 Impact
Analysis, By Raw Material (Ethylene Vinyl Acetate (EVA), Polyolefin, Styrenic
Block Copolymers (SBC), Polyurethane (PU), Polyester, and Others), By
Application (Packaging, Assembly, Woodworking, Transportation, Building &
Construction, Footwear & Leather, Nonwovens, Bookbinding, and Others), and
Regional Forecast, 2020-2027.” The market size stood at USD
6,745.2 million in 2019.
The catastrophe caused by coronavirus has disrupted the supply
chain of every industry around the world. We understand that this health emergency
has negatively impacted various sectors across the globe. Rising support from
governments and several companies can help in the fight against this highly
infectious virus. Some industries are struggling, and some are thriving. More
or less, nearly every sector is estimated to be impacted by this pandemic.
The report on the hot melt adhesives market contains:
- An all-inclusive
study of the market
- Vital market
trends and drivers
- Emerging
industry developments
- Comprehensive
data about eminent players
- Competitive
landscape
List of the Leading Companies Profiled in the Global Hot Melt
Adhesives Market are:
- Exxon Mobil
Corporation (Texas, U.S.)
- Dow
Inc. (Michigan, U.S.)
- 3M (Minnesota,
U.S.)
- Henkel AG &
Co. KGaA (Düsseldorf, Germany)
- MELER (Orkoien,
Navarra)
- Sanyhot
Adhesivos, S.A. (Tarragona, Spain)
- TEX YEAR
INDUSTRIES INC. (New Taipei City, Taiwan)
- H.B. Fuller
Company (Minnesota, U.S.)
- Arkema Group
(Pennsylvania, U.S.)
- Sika AG (Baar,
Switzerland)
- Bostik
(Wisconsin, U.S.)
- Jowat
SE (North Carolina, U.S.)
- AVERY DENNISON
CORPORATION (California, U.S.)
- LyondellBasell
Industries Holdings B.V. (Rotterdam, Netherlands)
- Embagrap SA
(Barcelona, Spain)
- Other Key
Players
Key Market Driver:
Increasing Application of Hot Melt Adhesives to Enable Speedy
Expansion
The increasing application of HMAs owing to its advantages such as
high productivity induced by process automation, a wide variety of
applicability, eco-friendliness, and re-adhesion possibility will have a
tremendous impact on this market. The shift from solvent-based adhesive or
water-based adhesive to hot-melt adhesive owing to its high-speed adhesion will
spur demand in the forthcoming years. For instance, during solidification, HMAs
do not lose thickness, whereas solvent-based hot melt adhesives can lose up to
50-70% of layer thickness during the drying process. Moreover, its high
efficacy reduces the amount of material used, thereby resulting in low labor
costs. The hot-melt adhesive exhibits significant advantages compared to
conventional solvent-based adhesives that typically require evaporation and
removal of solvents or polymerization to bind substrates together. Hence, the
growing utilization of HMA in end-use industries will positively foster the
market's healthy growth.
Shortage of Workers to Retard Business Development amid
Coronavirus
A temporary halt on operations has negatively impacted the global
market. The automotive industry experienced a massive hit due to the disruption
caused by the coronavirus. For instance, PSA, Renault, and Fiat Chrysler closed
their production at their manufacturing plants. Renault halted manufacturing
through 12 production sites affecting about 18,000 workers in France.
Similarly, the construction industry was destructively impacted by the
pandemic. However, high government spending on infrastructure and affordable
housing for residents is expected to stabilize the hot melt adhesives market
growth in the near future.
Competitive Landscape:
Capacity Expansion of Key Players to Boost Market
The global market is dominated by key players Henkel AG & Co.
KGaA, 3M, H.B. Fuller Company, Bostik, Sika AG, Arkema Group, and Dow Inc.
Prominent companies in the market are focused on expanding their production
capacities to strengthen their position in the market. Moreover, key players
accentuate on improving their distribution network to gain a competitive
advantage in the market.
Regional Analysis:
Booming Construction Industry to Consolidate Market in Asia
Pacific
The market size in Asia Pacific stood at USD 3,138.3 million in
2019. Asia Pacific is expected to dominate the global hot melt adhesives market
share during the forecast period. The increasing use of hot melt adhesives in
emerging economies such as India, Japan, and China will favor the market in the
region. The furniture and building industries are expected to contribute
significantly to the growth of the market. The heavy investment in
infrastructure is likely to create lucrative opportunities for the market in
Asia Pacific. The rapidly expanding packaging industry will spur demand for
HMA, thus aiding the market growth in Asia Pacific.
Key Development:
August 2019: Henkel AG & Co. KGaA
introduced WB and Mineral Oil-free Hot-melt PSAs at Labelexpo 2019. Henkel will
provide a water-based pressure-sensitive adhesive solution with excellent
wash-off characteristics through its new Aquence PS 3682.
Browse Detailed Summary of Research Report:
https://www.fortunebusinessinsights.com/industry-reports/hot-melt-adhesives-market-101724
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