Global Hot Melt Adhesives Market is Expected to Reach Around USD 7.70 Billion in 2020
Deerfield Beach, FL -- (SBWIRE) -- 06/12/2017 -- Zion Market Research has published a new report titled "Hot Melt Adhesives Market(EVA, Styrene Block Copolymers, Polyolefin, Polyurethane, and Polyamide) for Packaging, Disposables, Pressure Sensitive, and Other Applications: Global Industry Perspective, Comprehensive Analysis and Forecast 2014 – 2020." According to the report, global demand for hot melt adhesives was valued at approximately USD 6 billion in 2014 and is expected to reach USD 7.5 billion in 2020, growing at a CAGR of around 6% between 2015 and 2020. In terms of volume, the global hot melt adhesives market stood at around 1,500-kilo tons in 2014.
The hot melt adhesives are thermoplastic adhesive. This adhesive can melt and flow when heated and become rigid on cooling for providing the sturdy adhesion to the surface. They are commonly known as hot glue. Generally, available in the solid cylindrical sticks having various diameters. They are designed to be melted in an electric hot glue gun. The major driving factor for hot melt adhesives market across the globe is low price and potential to be used as a substitute for the other adhesives.
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The global hot melt adhesives market has been segmented based on a product that includes EVA, styrene block copolymers, polyolefin, polyurethane, polyamide, and others. In 2014, EVA was the largest product segment in terms of volume and accounted over 50% of the total shares of the global hot melt adhesives market. Styrenics block copolymers were the second largest product segment driving the market growth for the estimated forecast period. Moreover, increasing demand for polyolefin and polyurethane product segment is also anticipated to further boost the market growth in the year to come.
The global hot melt adhesives market has been segmented based on the application that includes packaging, non-woven, pressure sensitive, construction, bookbinding and other applications. The packaging industry was the largest application segment globally and is expected to dominate the demand for hot melt adhesives during forecasted period. Packaging industry accounted around over 33% of the total shares of the global hot melt adhesives market in 2014.
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Asia Pacific was leading region for the hot melt adhesives market and accounted around 35% share of the total volume consumed in 2014. Asia-Pacific is also expected to be one of the fastest growing regions due to the growing demand from emerging economies in the region such as China and India. Increasing industrial activities in fields of electronics, energy, transportation, building & construction and industrial in China and India are expected to boost hot melt adhesives market in the region.
Key industry participants analyzed and profiled in this study includes, Henkel AG, The 3M Company, H.B. Fuller, Sika AG, Dow Corning Company, American Chemical Inc., Ashland Inc., Avery Dennison Corporation, Beardow Adams Ltd., Bostik smart adhesives, Nordson Corporation, Evans Adhesive Corporation Ltd, Hexcel Corporation, Huntsman Corporation, Jowat AG, Toyobo Co. Ltd, H E Wisdom & Sons Inc. and Worthen Industries, NH.
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