Global Hot Melt Adhesives Market Growing at a CAGR of around 6% between 2015 and 2020
Zion Research has published a new report titled “Hot Melt Adhesives Market(EVA, Styrenics Block Copolymers, Polyolefin, Polyurethane and Polyamide) for Packaging, Disposables, Pressure Sensitive, and Other Applications: Global Industry Perspective, Comprehensive Analysis and Forecast 2014 – 2020.” According to the report, global demand for hot melt adhesives was valued at approximately USD 6 billion in 2014 and is expected to reach USD 7.5 billion in 2020, growing at a CAGR of around 6% between 2015 and 2020. In terms of volume, the global hot melt adhesives market stood at around 1,500 kilo tons in 2014.
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The hot melt adhesives are thermoplastic adhesive known as hot glue. The hot melt adhesives have the property to get melt and become liquid after heating. It gets contracted and become solid stable when it is exposed to low temperature. Owing to these properties hot melt adhesive provides the strong adhesion to the surface. Hot melt adhesive popular in the market and it is extensively used in the large range of applications.
On the basis of product type, hot melt adhesive market has been segmented as EVA, styrenics block copolymers, polyolefin, polyurethane, polyamide and others. EVA was the largest product segment of the hot melt adhesives market and accounted for over 50% share of the total hot melt adhesives volume consumed in 2014. Packaging, book binding and furniture are the major end markets for the hot melt adhesives. Strong growth of theses end application markets is expected to drive demand for EVA segment. Styrenics block copolymers was the second largest product segment of hot melt adhesives in 2014. Polyolefin, polyurethane and polyamide are the other important product segment of hot melt adhesives.
Hot melt adhesives are used in host of applications such as packaging, pressure sensitive, bookbinding, disposables and others (furniture, textile, footwear, construction, etc.) applications. Packaging industry is one of the most important application market for hot melt adhesives. It accounted for more than a quarter of the market shares of the global hot melt adhesives market in 2014. Increasing packaging and non-woven industry is expected to boost the demand for hot melt adhesives market.
Global hot melt adhesives market has been segmented as North America, Europe, Asia Pacific, Latin America, and rest of the world (Middle East and Africa). Asia-Pacific is expected to be one of the fastest growing regional market for hot melt adhesives throughout the forecast period. Asia Pacific accounted for over 30% share of the total market in 2014. Growth of the Asia Pacific can be mainly attributed to the strong growth prospects of key end application markets for the hot melt adhesives.
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Some of the leading industry participants in the global hot melt adhesives market includes, Henkel AG, The 3M Company, H.B. Fuller, Sika AG, Dow Corning Company, American Chemical Inc., Ashland Inc., Avery Dennison Corporation, Beardow Adams Ltd., Bostik smart adhesives, Nordson Corporation, Evans Adhesive Corporation Ltd, Hexcel Corporation, Huntsman Corporation, Jowat AG, Toyobo Co. Ltd, H E Wisdom & Sons Inc. and Worthen Industries, NH.
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