Market Insights:
Hot melt adhesives are thermoplastic adhesives
which are able to create a strong and flexible bond between materials. They
provide thermal resistance and stability, environmental compatibility, and
excellent finish to applied surfaces owing to which they experience high demand
from end-use industries such as food packaging, building & construction,
wood working, carton-sealing, and others. The global Hot Melt Adhesives
Industry is likely to showcase noteworthy expansion over the forecast period of
2017-2023, asserts Market Research Future (MRFR) in a detailed study. Raising
environmental concerns regarding the use of solvent-borne adhesives has acted
as major force motivating the shift towards the use of hot melt adhesives. This
has propelled the demand for hot melt adhesives across diverse industry
verticals. Expansion of key end-use industries has induced demand within the
market. On the other hand, fluctuations in the price and availability of raw
materials might hinder the growth of the market over the forecast period.
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Competitive Landscape
·
Henkel
AG & Co. KGaA
·
Arkema
·
Dow
Corning Corporation
·
H.B.
Fuller Company
·
RPM
International Inc.
·
Huntsman
International LLC.
·
Sika
AG
·
The
3M Company
·
the
Dow Chemical Company
Industry Updates
March 2019- LyondellBasell, a global leader in
polyolefin technologies announced that HPCL-Mittal Energy Limited (HMEL) had
selected its fifth generation Spheripol polypropylene process technology for a
new polypropylene plant in India.
Market Segmentation:
The Hot Melt Adhesives Industry has been segmented based
on type and application. By type, the global Hot Melt Adhesives Industry has
been into ethylene vinyl acetate and polyolefin hot melts. The ethylene vinyl
acetate segment is dominating the market due to their extensive application in
food packaging, electronics, and construction industry. Ethylene vinyl acetate
segment is expected to showcase the maximum growth over the forecast period on
account of high demand from end-user industries. Hot melt adhesives are highly
preferred over water-based adhesives due to their high mechanical strength and
excellent paraffin solubility. Polyolefin hot melts are a combination of
tackifiers and base resins which make them moisture and water resistant as well
as resistant to polar solvents and solutions.
By application, the global Hot
Melt Adhesives Industry has been segmented into food packaging, buildings &
construction, wood working, carton- sealing and others. The packaging segment
accounts for the largest share of the global market and is expected to continue
its dominance over the forecast period.
Regional Analysis
By region, the Hot Melts Adhesives Market has
been segmented into North America, Latin America, Asia Pacific (APAC), Europe,
and the Middle East & Africa (MEA).
Europe held the largest share of the market in
2015 and is expected to retain its lead over the forecast period. High demand
generated by end-use industries such as automotive, construction, and defense
spur the growth of the market in Europe. The UK, France, and Germany are the
country-specific markets within Europe.
APAC is expected to be the fastest growing
market for hot melt adhesives on account of continuous demand from key end-use
industries in the region. Industries such as general consumer packaging,
electronics, and woodworking have shifted to hot melt adhesives due to their
reliability and versatility which generates high demand for hot melt adhesives.
Moreover, hot melt adhesives offer advantages such as low VOC emission, durable
retention, and quick setting due to which they are experiencing much demand
from the automobile and transport sector. Expansion of the automotive industry
in the region acts as a plus for the growth of the market. India and Japan are
the key contributors to the APAC market.
North America Hot Melt Adhesives Industry is
spurred by substantial application and demand from the expanding packaging
industry.
Accelerated production and manufacturing of
polyurethane units in heavy end use industries is expected to speed up the
growth of the market in Latin America. Countries such as Brazil, Uruguay, and
Argentina are expected to contribute majorly to the market growth in Latin
America.
Meanwhile, the MEA market has suffered a
setback due to declining crude oil prices and economic slowdown in the region.
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