Hot Melt Adhesives Market Estimated to Reach US$ 9.44 Bn by 2024: Transparency Market Research

Transparency Market Research has released a new market report titled “Hot Melt Adhesives by Product Type(EVA, Polyolefin, Polyamide, Polyurethane, Styrene Block Copolymers and Others) and by End-user ( Packaging, Construction, Non-woven, Book Binding & Paper Binding, Furniture, Footwear, Electronics and Others) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2016–2024.”According to the report, the global Hot Melt Adhesives Market was valued at US$ 6.00 Bn in 2015 and is projected to reach US$ 9.44 Bn by 2024 at a CAGR of 5.2% from 2016 to 2024.

Hot melt adhesives is a hot glue, which are type of thermoplastic adhesives. These self-cured thermoplastic adhesives are typically used with hand held hot glue gun. Hot melt adhesives are classified based on product type into Ethylene vinyl acetate (EVA), polyolefins, polyamide, polyurethane, Styrene Block Copolymer (SBC) and others. Hot melt adhesives is widely used in end-user industry such as packaging, construction, non-woven, book binding & paper binding, furniture, footwear, electronics and others. Rising construction activities in emerging economies and growing packaging industry due to increasing trading activities across all regions are the major factors that drives the hot melt adhesives market. 

Obtain Report Details @ http://www.transparencymarketresearch.com/hot-melt-adhesives-market.html

In terms of revenue, Europe held the largest share of more than 30% of the global hot melt adhesives market in 2015. But, due to gloomy economic condition followed by Brexit referendum region is anticipated sluggish growth in next few years.

However, Asia Pacific is expected to grow at significant CAGR compare to other regions during the forecast period. It is estimated to grow at CAGR of more than 5% in terms of value during the forecast period. China is projected to be one of the major consumers of hot melt adhesives market in the next eight years. Countries in Asia Pacific are likely to be the fastest-growing markets for hot melt adhesives during the forecast period. Increasing construction activities and demand for packaging as Asia Pacific is considered as global hub for trading activities are expected to be key factors propelling the growth of hot melt adhesives market in Asia Pacific. Overall, the hot melt adhesives market in Asia Pacific is expected to be highly attractive than other regions in the next few years.

The hot melt adhesives market in Middle East & Africa is expected to witness moderate to high growth during the forecast period. Rise in focus of Middle East countries government in investing in construction activities is the key factor which is expected to drive the growth of hot melt adhesives during forecast period. Countries like Saudi Arabia, UAE is estimated to contribute significant share in terms of volume and value.

Hot melt adhesives market in Latin America is anticipated slow growth in next few years. Weak economic condition followed by political turmoil in major economy such as Brazil is the major reason due to which hot melt adhesive market is expected to grow at slower rate during the forecast period. Overall, the hot melt adhesives market is anticipated to expand significantly in developing regions in the next few years.

The global hot melt adhesives market is fragmented with many players operating in global and local market. Key players in the hot melt adhesives markets are Henkel AG & Co. KGaA, 3M Company, Avery Dennison Corporation, H. B. Fuller Company, Jowat SE, DOW Corning Corporation, Sika AG, Hexcel Corporation, Toyobo Co. Ltd, Bostik Inc., Heartland Adhesives LLC The global hot melt adhesives market has been segmented as follows:

Hot Melt Adhesives Market: By Product Type

  • Ethylene Vinyl Acetate
  • Polyolefins
    • APAO
    • Metallocene based POE
  • Polyamide
  • Polyurethanes
  • Styrene Block Copolymer
  • Others

Hot Melt Adhesives Market: By End-use

  • Packaging
  • Construction
  • Non-woven
  • Book Binding & Paper Binding
  • Furniture
  • Footwear
  • Electronics
  • Others

Hot Melt Adhesives Market: Regional Analysis

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • Italy
    • U.K.
    • France
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of South America
  • Middle East & Africa (MEA)
    • GCC
    • South Africa
    • Rest of MEA

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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

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