In terms of revenue, the global hot melt adhesives market is projectedto expand at a CAGR of 8.7% from 2018 to 2026, according to a new researchreport titled ‘Hot Melt Adhesives Market – Global Industry Analysis, Value,Share, Growth, Trends, and Forecast, 2018–2026’ published by TransparencyMarket Research (TMR) In terms of value, the global hot melt adhesives market isexpected to reach US$ 8642.2 Mn by 2026. The market is driven by the rise indemand for hot melt adhesives in packaging and non-woven/ hygiene products. Thehot melt adhesives market in Asia Pacific is estimated to expand at a CAGR of9.2% during the forecast period, owing to the rapid increase in demand forpackaging in food and e-commerce sectors in the region. Based on product, theethylene vinyl acetate segment held major share of the global hot meltadhesives market in 2017. However, the polyurethanes segment is expected toexpand significantly from 2018 to 2026.
Rise in Demand for Ethylene Vinyl Acetate andPolyurethanes to Boost Market
Based on product, the ethylene vinyl acetate segment accounted for majorshare of the hot melt adhesives market in terms of value and volume in 2017.This can be ascribed to the low prices of ethylene vinyl acetate hot meltadhesives and ease of manufacture. These hot melt adhesives possess betterperformance properties in terms of crack resistance, resilience, toughness, UVresistance, and light stability. This enables packaging manufacturing lines tomaintain high speed owing to short open and setting times of ethylene vinylacetate hot melt adhesives. Thus, the cost-effectiveness of ethylene vinylacetate is projected to drive the hot melt adhesives market during the forecastperiod. Polyurethanes are employed in a wide range of applications due to theirexcellent performance properties such as high bond strength than water-basedand other types of hot melt adhesives. The growth of the polyurethanes segmentis driven by the rise in demand for these adhesives in construction, furnitureand product assembly applications.
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Technical Limitations in High TemperatureApplications and Presence of Potential Substitutes to Restrain Market
Hot melt adhesives are thermoplastic compounds. Thus, they melt flow orcreep when exposed to surrounding temperature that is near to their flow point.Technical limitations of hot melt adhesives such as smaller temperature rangeto which they can be exposed than water-based and solvent-based adhesives areanticipated to hamper the market in the near future.
Tank-free Hot Melt System Offers Key Opportunities
Traditional hot melt system has limitations in the structure of tanks.Substantial amount of time is required for heating the material in the tank.Furthermore, it generates adhesive char. Operators are also exposed to hotadhesives. Tank free systems can employ vacuum feed to draw adhesive pelletsinto specially designed heating chambers. Pellets are melt-on-demand anddispense quickly without overheating. The elimination of heated tankssignificantly improves the performance of hot melt equipment. Tank-free hotmelt system is estimated to be an efficient and high performance adhesionsystem that can drive the hot melt adhesives market in the near future.
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Asia Pacific Accounts for Major Share in Terms ofVolume and Value
Asia Pacific was the major region of the global hot melt adhesivesmarket, accounting for more than 40% share in terms of volume and value in2017. Growth in industrialization is fueling the demand for hot melt adhesivesin various end-use industries, such as packaging, electronics, construction,and automotive, in the emerging economies of Asia Pacific. China is a keyexporter of hot melt adhesives in the global market. The country hasexperienced exponential growth in e-commerce since the last two years. This hasboosted the demand for packaging, thereby fueling the demand for hot meltadhesives in packaging applications. Furthermore, advancements in the healthcare industry and improvements in lifestyle in emerging economies such as Chinaand India are likely to augment the demand for hot melt adhesives innon-woven/hygiene products. Rise in infrastructure activities, increase in focuson trade activities, and growth in awareness about hygiene products areanticipated to propel the demand for hot melt adhesives in India during theforecast period.
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Global Hot Melt Adhesives Market is PrimarilyConsolidated
The report comprises profiles of major companies operating in the globalhot melt adhesives market. Around 70% of the global hot melt adhesives marketis consolidated, while the rest is fragmented with the presence of a few smallplayers. Key players include H.B. Fuller Company, Henkel AG & Company KGaA,Arkema, 3M, Sika AG, Jowat SE, TEX YEAR INDUSTRIES INC., Hexcel Corporation,Dowdupont, Beardow Adams, HEARTLAND ADHESIVES LLC, REXtac, LLC, Toyobo Co.,Ltd, Akzo Nobel N.V., and Exxon Mobil Corporation. Market players have been profiledin terms of attributes such as company overview, financial overview, businessstrategies, and recent developments. The report also comprises a matrix ofcomparison between the top four players operating in the global hot meltadhesives market along with analysis of their key strengths for 2017.
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