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.
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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.
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