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Hot Melt Adhesives Market likely to generate huge profits during 2019 - 2024

Author : Rahul Varpe | Published Date : 2019-05-09 

Global Market Insights provides a detailed overview of Hot Melt Adhesives market with respect to the pivotal drivers influencing the revenue graph of this business sphere. The current trends of Hot Melt Adhesives market in conjunction with the geographical landscape, demand spectrum, remuneration scale, and growth graph of this vertical have also been included in this report. 

Hot melt adhesives offer benefits such as quick curing time, low VOC emissions and easy application by glue gun. Automotive application minimizes volatile organic compounds to stable and provide safety to vehicles under extreme heat conditions. Solvent based PURs are extensively used in food packaging and laminating applications.

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Positive application outlook in disposables, footwear, automotive and packaging industry may enhance hot melt adhesives market. Supporting regulations by REACH and EPA pertaining to usage of eco-friendly products should propel product demand in North America and Europe.

Polyurethane, ethylene vinyl acetate, polyamide, polyolefin and styrenic block copolymers are the prominent raw materials used for production of hot melt adhesives. Ethyl vinyl acetate has positive application scope in automotive, woodworking, packaging and paper industries owing to its superior performance and low cost. Polyolefins based adhesives also have usage in paper and packaging industry. Volatility in raw material prices can increase supply demand gap and impact hot melt adhesives market price trend.

Ethyl vinyl acetate hot melt adhesives market may register growth of over 5% by the end of forecast period. Strong application outlook in woodworking, paper and automobile industries owing to its intact adhesion, dependability, durability and versality may boost product demand. They are designed to adhere to aqueous coating, paper stock and waxes, thereby encouraging their usage in labeling, carton sealing and plastic film.

Polyurethane hot melt adhesives market may exceed USD 1 billion by 2024. It is widely used in pharmaceuticals, cosmetics and electrical & electronics industries due to its better adhesion, flexibility and temperature & moisture resistance properties. Increase in demand for bio-based products along with positive outlook towards using insignificant VOC content products may propel industry growth.

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APAC represents? one of the fastest growing market for HMA. India and China are the prominent growth avenues in Asia Pacific, supported by robust infrastructure development and aggressive investments in the manufacturing sector. China hot melt adhesives industry share has witnessed a substantial raise, owing to strong demand from the furniture and the construction industry. This wide application scope has also stimulated the polyamide, EVA, and PUR based products.

The EVA hot melt adhesives market is projected to generate revenue over USD 3.5 billion by 2024. Amorphous poly-alpha-olefin and EVA are two main product segments which are mainly used in automobile, paper industry, and woodworking applications. Amorphous poly-alpha-olefin hot melt adhesives industry is estimated to record a CAGR of 5% over 2016-2024. APAOs are used for repairing motorcycles, marine crafts, trucks, and cars on account of high resistance to moisture, chemical inertness, and UV protection.

Europe, led by Germany hot melt adhesives market, is expected to record highest gains at an annual growth rate of 4.5% over 2016-2024. Escalating automotive industry, packaging, electronics, and textile industries in the region has provided a positive outlook for regional hot melt adhesives industry to flourish. Moreover, stringent regulation by EPA and REACH pertaining  to the use of bio-based products has fueled HMA market growth.

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Globally, hot melt adhesives industry is quite consolidated in nature with companies such as:

  • Dow Chemical
  • 3M Company
  • Avery Dennison
  • Henkel
  • Sika AG
  • H.B. Fuller

Related News: https://www.globenewswire.com/news-release/2017/03/20/942125/0/en/Advanced-Polymer-Composites-Market-to-hit-16bn-by-2024-Global-Market-Insights-Inc.html

 

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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About Author

Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for fractovia. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. Apart from being an avid reader, his other hobbies include music and sketching. He can be contacted at- [email protected] | https://twitter.com/varperahul

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