Global Hot Melt Adhesives Market: Snapshot
The global market for hot melt adhesives is gaining significant impetus from the rise in the trading activities, leading to a high demand for packaging. The increasing construction activities across the world is also fueling the need for hot melt adhesives substantially. On the other hand, the volatility in crude oil prices and the easy availability of substitutes are likely to create hindrances in the higher adoption of hot melt adhesives across the world in the years to come.
Overall, the worldwide market for hot melt adhesives is expected to report thriving success over the next few years, rising at a CAGR of 5.20% between 2016 and 2024. The opportunity in this market is projected to increase from US$6.00 bn in 2015 to US$9.44 bn by the end of 2024.
Asia Pacific to Surface as Most Promising Regional Market for Hot Melt Adhesives
The global market for hot melt adhesives is spread across Latin America, the Middle East and Africa, North America, Europe, and Asia Pacific. With a share of more than 33%, Europe led the global market in 2015. However, following the gloomy economic condition and the Brexit referendum, the market may witness a slight decline in its market share over the forthcoming years.
Asia Pacific, on the other hand, is anticipated to emerge as the most promising regional market for hot melt adhesives in the near future, thanks to the increasing construction activities and demand for packaging as Asia Pacific is considered as the global hub for trading activities. China is anticipated to lead the Asia Pacific market over the next few years. Several other countries in this region, such as India and Japan, are also projected to report a high demand for hot melt adhesives in the years to come. Among other regional markets, the Middle East and Africa is expected to witness moderate to high growth while Latin America is anticipated to report a slow progress over the next few years.
Demand for Ethylene Vinyl Acetate-based Hot Melt Adhesives to Remain Strong
Ethylene vinyl acetate, polyamide, polyurethanes, and styrene block copolymer are the key types of products available in the global hot melt adhesives market. Among these, the demand for ethylene vinyl acetate is higher than others. Researchers anticipate this trend to continue over the forthcoming years, owing to the low price of ethylene vinyl acetate-based hot melt adhesives and their increasing popularity in the packaging and the construction sectors. Polyurethane is also projected to experience a significant increase in its demand over the years to come.
The packaging, construction, non-woven, book binding and paper binding, furniture, footwear, and the electronics industries have surfaced as the key end users of hot melt adhesives. The packaging industry has been reporting the most prominent demand for hot melt adhesives and is expected to retain its position as their leading consumer over the coming years. The construction sector is also projected to report a high demand for hot melt adhesives in the near future.
The global hot melt adhesive market is fragmented with a number of players operational in it. 3M Co., H.B. Fuller, Henkel AG & Co. KgaA, Hexcel Corp., Dow Corning Corp., Heartland Adhesives, Sika AG, Bostik Inc., Jowat SE, Toyobo Co. Ltd., and Avery Denninson Corp. are some of the leading vendors of hot melt adhesives across the world.
Global Hot Melt Adhesives Market: Overview
Hot melt adhesives provide a strong, nearly invisible bond and work with everything from foams & fabrics to plastics, wood and light-gauge metals. Rising construction and import-export trade activities estimated to offer major opportunities to the hot melt adhesive market in the next few years. Europe dominated the hot melt adhesive market in terms of revenue in 2015, however, Asia Pacific is expected to grow at highest CAGR during the forecast period. Volatility in crude oil prices and availability of substitutes hinder the overall growth of the hot melt adhesive.
This report analyzes and forecasts the market for hot melt adhesive market at the global and regional level. The market has been forecast based on volume (kilo tons) and revenue (US$ Bn) from 2016 to 2024, considering 2015 as the base year. The study includes drivers and restraints of the global hot melt adhesive market. It also covers impact of these drivers and restraints on demand for hot melt adhesive market during the forecast period. The report also highlights opportunities in the hot melt adhesive market at the global and regional level.
The report includes detailed value chain analysis, which provides a comprehensive view of the global hot melt adhesive market. Porter’s Five Forces model for the hot melt adhesive market has also been included to help understand the competitive landscape in the market. The study encompasses market attractiveness analysis, where in end-users are benchmarked based on their market size, growth rate, and general attractiveness.
Global Hot Melt Adhesives Market: Segmentation
The study provides a decisive view of the global hot melt adhesive market by segmenting it in terms of product type and end-users. In terms of product type hot melt adhesive is classified as EVA, polyolefin, polyamide, polyurethane, Styrene Block Copolymer and others. While, in terms of end-use hot melt adhesive is classified as packaging, construction, non-woven, book binding & paper binding, furniture, footwear, electronics and others. These segments have been analyzed based on present and future trends. Regional segmentation includes current and forecast demand for hot melt adhesive in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
The report provides the actual market size of hot melt adhesive for 2015 and estimated market size for 2016 with forecast for the next eight years. The global market of hot melt adhesive has been provided in terms volume and revenue. Market volume has been defined in kilo tons and revenue in US$ Bn. Market numbers have been estimated based on product type and end-users of hot melt adhesive. Market volume and size have been provided in terms of global, regional and country level markets.
Global Hot Melt Adhesives Market: Research Methodology
In order to compile the research report, we conducted in-depth interviews and discussions with a number of key industry participants and opinion leaders. Primary research represented the bulk of research efforts, supplemented by extensive secondary research. We reviewed key players’ product literature, annual reports, press releases, and relevant documents for competitive analysis and market understanding. Secondary research includes a search of recent trade, technical writing, Internet sources, magazines and statistical data from government websites, trade associations, and agencies. This has proven to be the most reliable, effective, and successful approach for obtaining precise market data, capturing industry participants’ insights, and recognizing business opportunities.
Secondary research sources that are typically referred to include, but are not limited to company websites, annual reports, financial reports, broker reports, investor presentations, SEC filings, and external proprietary databases, and relevant patent and regulatory databases such as ICIS, Hoover’s, oneSOURCE, Factiva and Bloomberg, national government documents, statistical databases, trade journals, market reports, news articles, press releases, and webcasts specific to companies operating in the market. We conduct primary interviews on an ongoing basis with industry participants and commentators to validate data and analysis. These help validate and strengthen secondary research findings. These also help develop the analysis team’s expertise and market understanding.
Companies Mentioned in the Report
The report comprises profiles of major companies operating in the global hot melt adhesives market. Key players in the hot melt adhesive market 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., and Heartland Adhesives LLC. Market players have been profiled in terms of attributes such as company overview, financial overview, business strategies, and recent developments.
The global hot melt adhesive market has been segmented as follows:
By Product Type
- Ethylene Vinyl Acetate
- Metallocene based POE
- Styrene Block Copolymer
By End User
- Book Binding & Paper Binding
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of South America
- Middle East & Africa (MEA)
- South Africa
- Rest of MEA