Segmental Analysis
The segmentation of the Hot Melt Adhesives Market is carried
out on the basis of type, application and region. The Hot Melt Adhesives Market's
applications consist of buildings & construction, food packaging,
woodworking, general consumer packaging, carton sealing, and others. The type
segment of the Hot Melt Adhesives Market consists of polyamide, polyolefin,
ethylene vinyl acetate, polypropylene and polyurethane. The regions included in
the Hot Melt Adhesives Market are North America, the Middle East, Europe, Asia
Pacific, Latin America and Africa.
Market Insights:
The surge in demand for food packaging is estimated to
create optimistic development scope in the forecast period. Reports created by
MRFR detail the developments in the industry that can be expected in the market
through the forecast period. The market is estimated to be spurred by a
remarkable CAGR in the forecast period.
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The development of spending power is predicted to empower
the demand for electronics, which is estimated to bolster the Hot Melt
Adhesives Market share in the coming years. Furthermore, the construction
industry's development is estimated to further bolster the Hot Melt Adhesives
Market companies in the forecast period.
Competitive Analysis
The market may show restrained development due to the second
wave of COVID cases resurgence in several regions. The continuance of lockdowns
intermittently in several regions may cause obstacles to the market's
development as resources such as labour and supply chains to become seriously
impacted. The global market is estimated to see diversification in operating
practices as newer models for operation and delivery come into place. The
emphasis on creating reserves of resources to deal with unexpected situations
is estimated to shape future market developments. The aid from government
institutions is estimated to stimulate the global market's development in the
coming years. The innovations and research being undertaken in the market are
estimated to create promising growth options in the coming period. The reliance
on online commerce for sales is estimated to show a significant spike in the
forecast period, leading to more investment in its development by market
stakeholders.
The foremost companies in the Hot
Melt Adhesives Market are the 3M Company (U.S.A), Arkema (France),
Henkel AG & Co. KGaA (Germany), Dow Corning Corporation (U.S.A.), Sika AG
(Switzerland), R.P.M. International Inc. (U.S.A.), H.B. Fuller Company (U.S.A),
Huntsman International L.L.C. (U.S.A.), The Dow Chemical Company (U.S.A.),
among others.
Detailed Regional Analysis
The regional overview of the Hot Melt Adhesives Market
includes regions such as North America, the Middle East, Europe, Asia Pacific,
Latin America and Africa. Throughout the forecast period, the Asia Pacific
regional market has been grown at the uppermost CAGR during the forecast period
due to increasing use in end-use industries such as woodworking, universal
consumer packaging, and electronics. The advancements in the Hot Melt Adhesives
Market have pushed investors and builders to shift their focus from water-based
to hot melt adhesives due to their dependable and versatile kind. The renowned
players in this region are the U.K., Germany, and France due to growing usage
in heavy end industries such as automobile, buildings & construction, and
defense. In North American countries such as the U.S.A., Canada and Mexico, the
Hot Melt Adhesives Market has witnessed enormous growth due to rising need in
the packaging segment. The countries such as Uruguay, Brazil, and Argentina in
the Latin American region are projected to observe rapid growth in the Hot Melt
Adhesives Market due to the rapid manufacture of polyurethane units in heavy
end industries.
Industry Updates:
Mar 2021 Danimer Scientific, a principal designer and
manufacturer of biodegradable materials, intends to invest USD 700 million in
increasing their Bainbridge manufacturing processes, nearly multiplying their
workforce in Decatur County in the U.S. The company's renewable and sustainable
biopolymers are operated in single-use and other plastic products. These
materials are compostable and biodegradable and are used by clientele in
industries like bottling, food packaging, and other conventional packaging
sectors. Danimer's biopolymers' applications comprise hot-melt adhesives,
aqueous coatings, fibers, filaments, films, additives, and injection-molded
articles.
Sep 2020 SABA, a global foam bonding adhesive supplier,
announced the influx of new hot melt adhesives and presented Sabamelt 4732 to
produce pocket coil units. With more hot melt adhesives being introduced later
this year, SABA has reiterated its leading position as the solvent-free foam
bonding expert.
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