In India, the net national disposable income was INR 80,472.32 billion ($ 1,129.47 billion) in 2011–2012, which rose to INR 15,2454.82 billion ($2,139.78 billion) in 2017–2018, according to the Reserve Bank of India. This increase in the disposable income has also resulted in a surge in the spending power of consumers, which, in turn, has led to a high demand for different products, such as footwear, clothing, and electronics. These products make use of hot melt adhesives; for example, in electrical products, they are used for fusing two substrates together. Therefore, the increasing demand for such products would drive the demand for these materials in the coming years.

A P&S Intelligence study reported that from $7,353.1 million in 2017, the hot melt adhesives market would grow to $10,259.7 million by advancing at a 5.7% CAGR. Hot melt adhesives, also known as hot glues, are thermoplastic adhesives, which are applied using a hot glue gun. Different types of natural and synthetic polymers are used in manufacturing such materials. These hot glues are used in various industries, such as packaging products, bookbinding, diapers, electronics, furniture, automobile, footwear, and textile. The application of such glues in the furniture industry is expected to witness the fastest growth in demand to meet the requirements of the growing population in nations such as India, China, and Germany.

Rapid industrialization has lead to a massive boom across various industries, such as footwear, electronics, clothing, and food & beverage. More production across these industries is resulting in an increasing demand for glues as they are essential in the manufacturing process for joining things together. As emerging economies are still in their development phase, industries here are much more active in terms of production, which is why the demand for various consumer goods is rising rapidly in the Asia-Pacific (APAC) region. This is also resulting in the growing requirement for the packaging of products, which, in turn, is contributing to the heavy usage of hot melt adhesives. The increasing spending power of consumers due to the improving economy, and the changing consumption trends here are leading to the demand for more innovative, complex, and attractive products, thereby driving the hot melt adhesives market forward in APAC.

APAC Market Size and Forecast

8.1 By Product

8.2 By Application

8.3 By Country

8.3.1 China

8.3.1.1 By application

8.3.2 Japan

8.3.2.1 By application

8.3.3 India

8.3.3.1 By application

8.3.4 South Korea

8.3.4.1 By application

8.3.5 Taiwan

8.3.5.1 By application

8.3.6 Indonesia

8.3.6.1 By application

8.3.7 Thailand

8.3.7.1 By application

8.3.8 Philippines

8.3.8.1 By application

8.3.9 Malaysia

8.3.9.1 By application

8.3.10 Vietnam

8.3.10.1 By application

8.3.11 Australia

8.3.11.1 By application

8.3.12 New Zealand

8.3.12.1 By application

8.3.13 Rest of APAC

8.3.13.1 By application