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Hot Melt Adhesives Market Growth, Analysis, Size, Trends, Emerging Factors, Demands, Key Players

The global hot melt adhesives market size is expected to reach USD 9,702.2 million by 2027, exhibiting a CAGR of 5.3% during the forecast period. The growing need for advanced products coupled with favorable government policies are factors expected to aid expansion of the global market, states Fortune Business Insights, in a report, titled “Hot Melt Adhesives Market Size, Share & COVID-19 Impact Analysis, By Raw Material (Ethylene Vinyl Acetate (EVA), Polyolefin, Styrenic Block Copolymers (SBC),


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Ashwini Bhamare

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The global hot melt adhesives market size is expected
to reach USD 9,702.2 million by 2027, exhibiting a CAGR of 5.3% during the
forecast period. The growing need for advanced products coupled with favorable
government policies are factors expected to aid expansion of the global market,
states Fortune Business Insights, in a report, titled “Hot Melt Adhesives
Market Size, Share & COVID-19 Impact Analysis, By Raw Material (Ethylene
Vinyl Acetate (EVA), Polyolefin, Styrenic Block Copolymers (SBC), Polyurethane
(PU), Polyester, and Others), By Application (Packaging, Assembly, Woodworking,
Transportation, Building & Construction, Footwear & Leather, Nonwovens,
Bookbinding, and Others), and Regional Forecast, 2020-2027.” The market size
stood at USD 6,745.2 million in 2019.



The report on the hot melt adhesives market contains:




  • An all-inclusive
    study of the market

  • Vital market
    trends and drivers

  • Emerging
    industry developments

  • Comprehensive
    data about eminent players

  • Competitive
    landscape



Market Driver:



Increasing Application of Hot Melt Adhesives to Enable Speedy
Expansion



The increasing application of HMAs owing to its advantages such as
high productivity induced by process automation, a wide variety of
applicability, eco-friendliness, and re-adhesion possibility will have a
tremendous impact on this market. The shift from solvent-based adhesive or
water-based adhesive to hot-melt adhesive owing to its high-speed adhesion will
spur demand in the forthcoming years. For instance, during solidification, HMAs
do not lose thickness, whereas solvent-based hot melt adhesives can lose up to
50-70% of layer thickness during the drying process. Moreover, its high
efficacy reduces the amount of material used, thereby resulting in low labor
costs. The hot-melt adhesive exhibits significant advantages compared to
conventional solvent-based adhesives that typically require evaporation and
removal of solvents or polymerization to bind substrates together. Hence, the
growing utilization of HMA in end-use industries will positively foster the
market's healthy growth.



Browse In-depth Summary of This Research Insight@



https://www.fortunebusinessinsights.com/industry-reports/hot-melt-adhesives-market-101724



Shortage of Workers to Retard Business Development amid
Coronavirus



A temporary halt on operations has negatively impacted the global
market. The automotive industry experienced a massive hit due to the disruption
caused by the coronavirus. For instance, PSA, Renault, and Fiat Chrysler closed
their production at their manufacturing plants. Renault halted manufacturing
through 12 production sites affecting about 18,000 workers in France.
Similarly, the construction industry was destructively impacted by the
pandemic. However, high government spending on infrastructure and affordable
housing for residents is expected to stabilize the hot melt adhesives market
growth in the near future.



Competitive Landscape:



Capacity Expansion of Key Players to Boost Market



The global market is dominated by key players Henkel AG & Co.
KGaA, 3M, H.B. Fuller Company, Bostik, Sika AG, Arkema Group, and Dow Inc. Prominent
companies in the market are focused on expanding their production capacities to
strengthen their position in the market. Moreover, key players accentuate on
improving their distribution network to gain a competitive advantage in the
market.



Regional Analysis:



Booming Construction Industry to Consolidate Market in Asia
Pacific



The market size in Asia Pacific stood at USD 3,138.3 million in
2019. Asia Pacific is expected to dominate the global hot melt adhesives market
share during the forecast period. The increasing use of hot melt adhesives in
emerging economies such as India, Japan, and China will favor the market in the
region. The furniture and building industries are expected to contribute
significantly to the growth of the market. The heavy investment in
infrastructure is likely to create lucrative opportunities for the market in
Asia Pacific. The rapidly expanding packaging industry will spur demand for
HMA, thus aiding the market growth in Asia Pacific.



Key Development:



August 2019: Henkel AG & Co. KGaA
introduced WB and Mineral Oil-free Hot-melt PSAs at Labelexpo 2019. Henkel will
provide a water-based pressure-sensitive adhesive solution with excellent
wash-off characteristics through its new Aquence PS 3682.



The Report Lists the Key Players in the Global Market:




  • Exxon Mobil
    Corporation (Texas, U.S.)

  • Dow
    Inc. (Michigan, U.S.)

  • 3M (Minnesota,
    U.S.)

  • Henkel AG &
    Co. KGaA (Düsseldorf, Germany)

  • MELER (Orkoien,
    Navarra)

  • Sanyhot
    Adhesivos, S.A. (Tarragona, Spain)

  • TEX YEAR
    INDUSTRIES INC. (New Taipei City, Taiwan)

  • B. Fuller
    Company (Minnesota, U.S.)

  • Arkema Group
    (Pennsylvania, U.S.)

  • Sika AG (Baar,
    Switzerland)

  • Bostik
    (Wisconsin, U.S.)

  • Jowat
    SE (North Carolina, U.S.)

  • AVERY DENNISON
    CORPORATION (California, U.S.)

  • LyondellBasell
    Industries Holdings B.V. (Rotterdam, Netherlands)

  • Embagrap SA
    (Barcelona, Spain)

  • Other Key
    Players







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