On the basis of product, the hot melt adhesives market is categorized into ethylene vinyl acetate (EVA), styrenic block copolymer (SBC), polyurethane (PU), polyamide (PA), amorphous polyalphaolefins (APAO), metallocene polyolefins (MPO), polyester, and others. Of these, the volume sales of PU are expected witness the highest growth, with 5.9% CAGR during the forecast period, driven by high demand for hot melt adhesives from the automobile industry along with the growing construction activities worldwide.
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Owing to the growing standard of living, the demand for packaged products is expected continue to remain high, which in turn will boost the market growth during the forecast period.
Based on application, the hot melt adhesives market is segmented into packaging products, hygiene, furniture, footwear, textile, automobile, bookbinding, others. Among these, packaging products has been the leading category in the market, with more than 24.0% revenue contribution in 2017.
Asia-Pacific (APAC) is the fastest growing hot melt adhesives market. The market revenue in the region is expected to witness a CAGR of 6.7% during the forecast period. This is attributed to the increasing need of high-performance materials across various applications and industries such as automotive and electronics, in the region.
Due to the rising environmental concerns, companies are developing bio-based adhesives to replace the chemical-based ones. In order to enhance the sustainability efforts without compromising performance, companies are developing these bio-based hot melts.
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Some of the major players operating in the global hot melt adhesives market are Henkel & Co. KGaA, Jowat SE, Sika AG, 3M Company, Bostik Inc., Avery Dennison Corporation, H.B. Fuller Company, Arkema Group, Westlake Chemical Corporation, Beardow & Adams (Adhesives) Limited., and DowDuPont Inc.
GLOBAL HOT MELT ADHESIVES MARKET SEGMENTATION
By Product
- Ethylene Vinyl Acetate (EVA)
- Styrenic Block Copolymer (SBC)
- Polyurethane (PU)
- Polyamide (PA)
- Amorphous Polyalphaolefins (APAO)
- Metallocene Polyolefins (MPO)
- Polyester
By Application
- Coatings
- Packaging Products
- Hygiene
- Furniture
- Footwear
- Textile
- Automobile
- Electronics
- Bookbinding
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Rest of Europe
- APAC
- China
- Japan
- India
- South Korea
- Taiwan
- Rest of APAC
- Rest of the World (RoW)
- Brazil
- Saudi Arabia
- South Africa
- Others
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