Global Hot Melt Adhesives Market 2018-2022
About Hot Melt Adhesives
Hot melt adhesives are polymer-based cylindrical sticks that are thermoplastic in nature. They melt on applying heat and get solidified on cooling. Based on the raw material and composition of the substances, hot melt adhesives are classified into ethylene-vinyl acetate (EVA)-based hot melt adhesives, styrene block polymer (SBC)-based hot melt adhesives, polyamide-based hot melt adhesives, polyolefin-based, polyester-based, and polyurethane-based hot melt adhesives.
Technavio’s analysts forecast the global hot melt adhesives market to grow at a CAGR of 6.40% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global hot melt adhesives market for 2018-2022. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Hot Melt Adhesives Market 2018-2022
Technavio recognizes the following companies as the key players in the global hot melt adhesives market: 3M, Arkema, DowDuPont, H.B. Fuller, and Henkel.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is increasing demand for polyolefin-based hot melt adhesives. Polyolefin-based hot melt adhesives exhibit moderate to high thermal stability and a longer open time. Since they have a varied open time, they are primarily used for spray applications in the packaging and labeling industry.”
According to the report, one driver in the market is excellent properties of hot melt adhesives. Hot melt adhesives are extensively used for many industrial applications due to some of their properties like rapid bond formation, flexibility of part designing, ability to bond with non-porous surfaces, superior bond moisture sensitivity, longer shelf-life, and ease of storage. Hot melt adhesives are used in a variety of end-user industries like packaging, apparel, hygiene products, construction, electronics, and automotive.
Further, the report states that one challenge in the market is volatile price of raw materials. Hot melt adhesives are manufactured using raw materials such as styrene copolymers, polyolefin, polyurethane, EVA, and polyamide. The scarcity of raw materials leads to fluctuations in the price trends, which causes a hindrance to the growth of the market. Further, this causes a disparity in the demand-supply cycle on a global basis.
3M, Arkema, DowDuPont, H.B. Fuller, and Henkel.