Global Hot Melt Adhesives Market: Demand Analysis and Growth Forecast
An adhesive is a substance which is used for sticking objects or materials. Hot melt adhesive (HMA), which is also known as hot glue, is a form of thermoplastic adhesive that melts and glows as a result of heating and cooling as it solidifies. The primary attribute of HMA that they are multi-polymer adhesives enables them to adjust according to specific characteristics by the means of blending two or more additives and polymers. These specialty adhesives find numerous applications across consumer products.
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Based on the global hot melt adhesives market report published by IndustryARC, HMA is extensively used in packaging solutions and as the demand for packaged food on the back of changing the lifestyle of urban populations, the market for the same is projected for a profitable progression during the forecast period of 2018 to 2023.
Hot Melt Adhesives Market: Drivers and Disruptive Trends
• Increasing applications of polyolefin elastomers based on hot melt adhesives. Polyolefin elastomers are majorly used in the packaging industry for spray applications. Polyolefin-based hot melt adhesives are mostly used in package trays, door panels, seating, and instrumental panels.
• Demand for ethylene-vinyl acetate remains constant. Ethylene-vinyl acetate, polyamide, polyurethane are the type of hot melt adhesives. Among these, ethylene-vinyl acetate has a higher demand in packaging and construction sectors.
• Demand for hot melt adhesives from hygiene products industry is on a surge. These adhesives are easily disposed of without any special instructions or hazardous environmental effects, and as these adhesives are eco-friendly, it is gaining more popularity and resulting in market growth.
• Different product innovations by vendors are poised to expand application horizons in the near future, creating new revenue avenues for the market players.
Global Hot Melt Adhesives Market: Leading Segments
Hot melt adhesives market can be segmented based on their type and application. Based on the type, the HMA market can be segmented into the thermoplastic adhesive, polyamide, hot glue, ethylene-vinyl acetate, and polyurethane. Application-wise, the market can be bifurcated into packaging solutions, textile industry, furniture and woodwork, and electronic industry.
Hot Melt Adhesives Market: Competitive Landscape
Avery Dennison Corporation, H.B. Fuller, Arkema SA, Sika AG, Dow Corning Corporation, and Henkel AG & Co. KGaA are some of the major key players operating in the global hot melt adhesives market. Avery Dennison Corporation has developed a brand value over the past two decades and their hot melt adhesives are used in applications such as logistics and warehousing, wine and spirits, food labeling, and tyre labeling. In Sika AG, hot melt adhesives are used to bond plastic parts in automated and fast assembly cycles.
Hot melt adhesive, which is also known as hot glue and is a form of thermoplastic adhesive, finds vast applications across the packaging industry and continuous innovation is further expanding the usage. In the near future, as the product is eco-friendly, the market growth is expected to be superlative.
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