Global Polyester Hot Melt Adhesives Market: Outlook
Hot melt adhesives can be composed of a variety of materials. Polyester resin is one such material. Polyester resins can be produced by reacting a dicarboxylic acid with a diol. The number of carbon atoms in the diol chain has a significant impact on properties of the resultant polyester resin. Longer the diol chain, higher is the melting point and rate of crystallization of the polyester produced. Additionally, the degree of crystallization of the polyester product is inversely proportional to length of the diol chain. Polyester hot melt adhesives compete with polyamide hot melt adhesives in terms of performance, bond strength, moisture resistance, and longevity. Polyester hot melt adhesives have lower strength and melting point as compared to polyamide hot melt adhesives. However, polyester hot melt adhesives are more tolerant to moisture owing to absence of hydrogen bonds. Other than these factors, polyester and polyamide hot melt adhesives are similar and are used in high-performance applications. Polyester hot melt adhesives are most commonly used in adhesion of fabrics due to their flexibility and compatibility with fabrics, especially polyester-based fabrics. Polyester hot melt adhesives offer high tensile strength and perform well at high temperatures. Polyester hot melt adhesives can be used individually as well as with several additives within the formulation based on various application requirements.
Polyester hot melt adhesives are utilized in niche applications and constitute less than a tenth of the hot melt adhesives market. The polyester hot melt adhesives market is primarily driven by high demand from high-performance applications in protective clothing. It is mostly used in protective jackets, hazmat suits, and fabric applications where high temperature tolerance is necessary. Hot melt adhesives offer advantages such as quick curing time, low VOC emissions, and easy application through the glue gun. However, production of polyester hot melt adhesives is slightly complex, and minor mishandling can lead to weaker brittle bonding. This allows for its substitution with cheaper hot melt adhesive products. Development of new formulations for novel applications in the packaging industry is anticipated to be a prospective avenue for future growth of the polyester hot melt adhesives market in the near future.
Global Polyester Hot Melt Adhesives Market: Drivers and Restraints
Rising market demand and incessant push for eco-friendly adhesives have led to rise in strategic initiatives by market players in the past years. Key players are prying new markets through agreements, joint ventures, partnerships, and collaborations globally to use the advantage of untapped market opportunities while availing the benefits of combined operational synergies.
Fluctuating raw material prices are a chief restraining factor likely to hinder the market growth. Polyester hot melt adhesives are downstream specialty derivatives of petroleum-based feedstock, prices of which ebb and flow with the commodity marketplace. This puts downward pressure on the margins of industry players, especially small- and medium-sized players, who are already pitching aggressively low prices to gain market share in the highly fragmented market.
Global Polyester Hot Melt Adhesives Market: Regional Outlook
The polyester hot melt adhesives market in Asia Pacific is fueled by rising demand from end-user industries including packaging, book-binding, automotive, transportation, textiles, and footwear industries. Additionally, a movement away from solvent-based adhesives owing to harmful effects of volatile organic compounds (VOC) emitted from these adhesives is anticipated to boost market growth of polyester hot-melt adhesives in all geographies in the long term. Steady pressure from regulatory bodies including REACH (Registration, Evaluation, Authorization, and Restriction of Chemicals) and EPA (Environmental Protection Agency) is likely to limit the usage of solvent-based adhesives in a bid to reduce severe impact on the environment, especially in Europe and North America. This, in turn, is projected to alleviate the global hot melt adhesives market, including polyester hot melt adhesives. Furthermore, strong bonding without the necessity to cure these adhesives after dispensing boost the designing of easier and low-cost industry processes. This is an incentive for market players and price-sensitive buyers to shift from conventional adhesives to hot melt adhesives.
Global Polyester Hot Melt Adhesives Market: Companies Mentioned in the report
Major share of the market is serviced by small and medium-sized players. Key global players in the polyester hot melt adhesives market include Henkel AG & Co. KGaA, H. B. Fuller Company, Bostik SA, Eastman Chemical Company, and Sika AG.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
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