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 market 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.
Industry Segmentation:
The global hot melt adhesives market has been segmented based
on type and application. By type, the global hot melt adhesives market 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 market 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.
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.
Regional Analysis:
By region, the
global Hot
Melts Adhesives Market Forecast 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 market 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.
For More
Information@ https://www.marketresearchfuture.com/categories/chemicals-market-report
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