ALBANY, New York, June 12, 2019 /PRNewswire/ -- The global hot melt adhesives market is likely to develop prominently in the upcoming years. Near about 70% of the global hot melt adhesives market seems to be consolidated. However, the remaining of it appears to be fragmented due to the emergence of several international and regional players. Various key players are indulging into strategies like mergers and acquisitions.
For example, Arkema took over Bostik, an adhesive specialist firm, in 2015. Some of the leading players operating in global hot melt adhesives market, for example, Sika AG, DOW Coming Corning Corp., Henkel, H.B. Fuller, Jowat SE, and 3M Co. are working on sustaining their situation in the market. Most associations are trying to increase their product prices for increasing regional growth. The firms are indulging in improving their product portfolios and investing heavily in research and development activities. These factors are foreseen to be responsible for market growth in future years.
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According to a recent report by Transparency Market Research (TMR), the global hot melt adhesives market is expected to witness a rising CAGR of 8.7% within the forecast period from 2018 to 2026. Based on revenue, the global hot melt adhesives market is foreseen to soar around worth US$ 8642.2 Mn by the end of forecast period 2026.
On the basis of product, the ethylene vinyl acetate segment leads the global hot melt adhesives market. The segment held over 40% and 30% share of the global market in terms of volume and value in 2017. The use of polyurethanes demand is also growing at a high pace owing to its large-scale demand in furniture, construction, and product manufacturing applications.
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Increasing Applications in Several Industry Verticals to Augur Market Demand
Hot melt adhesives come under thermoplastic compounds. Resultantly, they leak or melt when comes in contact with outer temperature which is around their flow point. Because of different uses of hot melt adhesives in industries, for instance, electronics, construction, and packaging, the market is experiencing a critical surge in its sales and revenue across the globe. Various firms dealing with the adhesives have headquartered themselves in different developed and developing economies, majorly in Asia Pacific and Latin America.
Such regional advancements have affected the development of the global hot melt adhesives market. A general change in the packaging method of food and drinks also are contributing towards a flourishing market. Most of the adhesives items are skillfully secured and eco-friendly while using in different conditions. Due to these characteristics, various managerial associations are engaging the usage of these adhesives by changing their business strategies and regulations. This has caused a great upsurge in the global hot melt adhesives market.
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Fluctuating Cost of Oil to Affect Growth of Hot Melt Adhesives Market
However, the global hot melt adhesives market is impacted by certain factors, which may provoke a decline in revenue. Change in oil costs and the general sketchy image of the crude oil industry is an obvious difficulty for the market growth. This is on a very basic level an immediate aftereffect of the wide prerequisite for using oil products for manufacturing of the adhesives. Nevertheless, with war in the Middle East, the oil expenses are assessed to come back to their original value, leading to the hindrance in global hot melt adhesives market.
This analysis is based on a recent market research report by Transparency Market Research, titled, "Hot Melt Adhesives Market (Product - Ethylene Vinyl Acetate, Polyolefins (Amorphous Polyolefin, Metallocene Polyolefin), Polyamides, Polyurethanes, Styrene Block Copolymers; Application - Packaging, Construction, Automotive, Non-woven/Hygiene, Furniture, Footwear, Book and Paper Binding, Electronics) - Global Industry Analysis, Value, Share, Growth, Trends, and Forecast 2018 – 2026."
The global hot melt adhesives market has been segmented as follows:
- Ethylene Vinyl Acetate
- Amorphous Polyolefin
- Metallocene Polyolefin
- Styrene Block Copolymers
- Others (including Polycarbonate and Polycaprolactone)
- Book and Paper Binding
- Others (including Textiles and DIY)
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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