Hot melt adhesive is basically referred to as hot glue and are generally the thermoplastic type of adhesives that are most commonly supplied in cylindrical and solid form of distinct diameters. Hot melt adhesives are manufactured in such a way that as and when they melt, they can be easily melted in an electric gun which melts it into hot glue. Hot melt adhesives have excellent and diverse advantages of being relatively fast processing when compared to other conventional adhesives. Hot melt adhesives begin the process of the bonding with an immediate effect as and when it is applied on the desired object as it rapidly cools down as well as attains the solid state point immediately. This superior feature of fast solidification of the hot melt adhesives is mostly suited for its application in end use industries that require versatility in bonding, fast green strength, high speed manufacturing line, large gap filling and minimal shrinkage among others.
Increasing demand for hot melt adhesives mainly from high speed manufacturing industries is one of the major aspects fueling the growth of the global hot melt adhesive market during the forecast period. In addition to this, changing trends among the packaging sector that is considered to be the largest end user segment of hot malt adhesives is projected to augment the overall demand for hot melt adhesives during the forecast period across the globe. Also, government policies especially by environment protection agencies such as that of in the United States and other several European countries for the employment of eco friendly adhesive products is further projected to upsurge the overall demand for hot melt adhesives over the forecast period.
The global hot melt adhesives market can be categorized based on application, product type and geography. Based on product type, the global hot melt adhesives market can be categorized into SBC, EVA, mPO, APAO, PE, POP, polyamide, PU and others. Based on application, the global hot melt adhesives market can be categorized into non-woven disposables, packaging, construction, pressure sensitive applications, book binding, furniture, automotive and others. Based on region, the global hot melt adhesives market can be categorized into North America, Latin America, Europe, Middle East & Africa and Asia Pacific. The robust demand especially in the Asia Pacific region is anticipated to be one of the key driving factors for the overall growth of the global market. Furthermore, China is further projected to account for the maximum share in the global market and is estimated to maintain its lead in the overall demand throughout the forecast period.
This can be attributed to fast industrialization and growing urbanization during the past few years. The markets in various emerging economies like Russia, Argentina, Brazil, Indonesia, New Zealand, Poland, Korea and India among others are expected to see a quick growth throughout the forecast period. In addition to this, increasing per capita disposable income and rush in the global economy is another key motive which is expected to bring stimulus in the
Key players operating in the global market are concentrating on some of the major market strategies such as mergers, acquisitions, collaborations, partnerships in order to keep hold in the ever competitive global market. Furthermore, they are focusing on achieving hold on the local players to support their goodwill as well as to boost their market reach in the global market. Some of the key players in the global market include Henkel AG, H. B. Fuller, Avery Dennison Corporation, Hexcel Corporation, Worthen Industries, Inc., Huntsman Corp, Sika AG, Ashland Inc., 3M Corporation, American Chemical Inc., Dow Corning Corporation, Beardow & Adams (Adhesive) Ltd, Bostik Inc., Dynea OY, Jowat AG and BEMIS Associates Inc. among others.
The global hot melt adhesives market can be segmented
• Non-woven disposables
• Pressure sensitive applications
• Book binding
By Product Type:
• North America
• Latin America
• Middle East & Africa
• Asia Pacific