Hot Melt Adhesives Market – Overview
The escalating usage of various kinds of packaging has intensified the development of the Hot Melt Adhesives. Market reports associated with the chemicals and materials industry have been made available by Market Research Future which creates reports on other industry verticals that outlines the current market scenarios. The market is projected to display an incremental CAGR rate in the forecast period.
The high thermal stability of Hot Melt Adhesives is a key factor prompting the market’s development. The demand from building & construction, food packaging, woodworking, and carton-sealing sectors is expected to provide an excellent basis for the growth of the market for Hot Melt Adhesives. The growth witnessed in the appliance industry is expected to favor the development of the market in the forecast period.
Industry Updates:
June 2018 Arkema S.A. is devoting more capital to its adhesives unit, Bostik S.A., with a purchase that will enhance its Japanese joint venture. Bostik-Nitta is obtaining the industrial adhesives business of Nitta-Gelatin Inc, the other partner in the venture. The business makes annual sales of about $35.4 million.
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Segmental Analysis
The Hot Melt Adhesives Market segmentation is segmented into Application, Regions, and Type. On the Basis of market type, the market is segmented into polyolefin hot melt adhesives and ethylene vinyl acetate. The applications segment of the Hot Melt Adhesive Market is segmented into carton sealing, buildings & construction, food packaging, woodworking, general consumer packaging, and others. The regions included in the market are Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa.
Detailed Regional Analysis
The Asia Pacific region has been observed to grow at the highest CAGR during the forecast period due to growing usage in end-use industries such as general consumer packaging, woodworking and electronics among others. The success attained in Hot Melt Adhesives Market has boosted investors and manufacturers to shift their focus from water-based towards Hot Melt Adhesives due to its reliable and versatile nature. Countries such as India and Japan have observed a substantial development in the automobile and transport sector due to advantages presented by the product such as setting, low VOC emission, quick and durable retention. The European region led the Market in 2015 and is expected to continue to do so in the forecast period. The prominent companies in this region such as the U.K., Germany, and France are expected to grow due to mounting usage in heavy end industries such as defense, automobile, buildings & construction, among others.
The North American nations such as Canada, the U.S.A., and Mexico are increasing the development owing to the intensifying demand in the packaging segment. The food packaging segment has been controlling the market in this region and is anticipated to continue its dominance during the forecast period. Nations such as Uruguay, Brazil, and Argentina in the Latin American region are assessed to observe a swift growth in the hot melt adhesives market owing to speedy production and making of polyurethane units in heavy end industries.
Competitive Analysis
The leadership trends in the market are reinforcing the level of growth that can be achieved in the present market scenario. The market is at an optimally productive level and will be capable of generating greater value for the firms in the market and its shareholders. Although, the market has also considerably neutralized the market advantages and thus is promoting an increase in the number of firms in the market. The diversification of the product assortment in the market is increasing the opportunity for the progress of the market. The ability to utilize the economies of scale is further proving to be beneficial for overall market growth. The potential for profitability in a market has been determined to be optimistic which will be fruitful for future expansions.
The eminent contenders functioning in the market are Arkema (France), Henkel AG & Co. KGaA (Germany), Huntsman International LLC. (U.S.A.), Dow Corning Corporation (U.S.A.), The 3M Company (U.S.A), H.B. Fuller Company (U.S.A), Sika AG (Switzerland), RPM International Inc. (U.S.A.), The Dow Chemical Company (U.S.A.), among others.
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