Hot Melt Adhesives Market annual growth rate is 5.6 percent
Hot Melt Adhesives Market Size and Growth Rate:
As per the latest reports published by Research Cosmos, Hot Melt Adhesives Market was valued at USD 7,352.1 million in 2017 and projected to reach USD 10,258.7 million by 2022 growing at a CAGR of 5.6% during the forecast period 2017 to 2022.
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Hot Melt Adhesives Market Growth Drivers and Restraints:
The growing prevalence of the innovative interior designs with wood workings is a majorly propelling the growth of the market. The government initiative to increase the supply of the hot melt adhesive to meet the requirements from the end user industries is also set to increase the growth of the market.
However, lack of knowledge in taking the precautions while melting the glue is slightly restraining the growth of the market. The rapid increase in the prices of the volatile crude oil is additionally hindering the demand of the market.
The increasing construction and building applications with latest techniques and completing the project in very less time than expected are looking forward to surge the growth opportunity of the market. The participation of newer industries in the market is also a chance to grow tremendously.
Geographical Analysis of Hot Melt Adhesives Market:
Geographically, the hot melt adhesive market is segmented into North America, Europe, Asia pacific, and Middle East and Africa. North America is holding the highest shares of the market by increasing demand from the packaging industries. Moreover, the interests towards the new interior designs among the customers are also propelling the growth of the market in this region. Following North America, Europe is witnessed to gain huge benefits with the usage of hot melt adhesives in the wood workings sector and also paper converting. Asia Pacific and Middle East & Africa are accounted to have inclined growth rate in the review period.
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Key Players of Hot Melt Adhesives Market:
The 3M Company, American Chemicals Inc., Worthen Industries Inc., Ashland Inc., Wisdom Adhesives, Avery Dennison Corporation, Jowat AG, DOW Corning Corporation, Evans Adhesives Corporation Limited, H.B. Fuller Company, Dynea OY, Henkel AG & Company KGAA, Costchem SRL, Hexcel Corporation, Bostik Inc., Huntsman Corporation, BEMIS Associates Inc., SIKA AG, Beardow & ADAMS (Adhesives) Limited are some ruling players in the hot melt adhesive market.
Hot Melt Adhesives Market Segmentation:
By Type:
- EVA HMA
- POE HMA
- SBS HMA
- SIS HMA
- SEBS HMA
- PU HMA
- APAO HMA
- Polyamide HMA
- Polyimide HMA
By Application:
- Paper Packaging
- Bookbinding
- Label & Tape
- Hygiene
- Transportation
- Construction
- Woodworking
- Textile/Footwear
By Region:
- North America
- South America
- Europe
- Asia Pacific
- Middle East and Africa
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