The global hot melt adhesives market is predicted to grow at 6.1% CAGR during the forecast period with the market size reaching USD 11.9 billion by 2024. The market is driven by factors such as growing demand in increasing disposable income of the consumers in emerging economies such as China, India and Indonesia, growing packaging industries, rapid industrialization, and shift in technology used by automobile manufacturers for assembly.
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The different types of hot melt adhesives available in the market are SBC, PA, PU, EVA, amorphous poly-alphaolefin (APAO), polyester, and metallocene polyolefin (MPO). Of all, EVA held the largest share in the market with its market size valued at USD 3.2 Billion in 2017 and is set to reach USD 4.6 billion by 2024. The growth of EVA segment is driven by its various benefits such as durability, quicker time setting, and suitability in a huge variety of temperatures.
North America accounted for the major share in the hot melt adhesives industry in 2017, and its market is set to reach USD 3.9 billion by 2024. Asia-Pacific is expected to witness the fastest growth in demand for these adhesives due to the increasing purchasing power and increasing disposable income of the Asian countries such as China, India, Philippines, and others.
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Key players offering products in the hot melt adhesives industry are Sika AG, Beardow & Adams (Adhesives) Limited., 3M Company, Westlake Chemical Corporation, Bostik Inc., Jowat SE, H.B. Fuller Company, Avery Dennison Corporation, Arkema Group, DowDuPont Inc., and Henkel & Co. KGaA.
Global Hot Melt Adhesives Market Coverage
Type Insight and Forecast 2014 - 2024
Styrenic Block Copolymers (SBC)
Polyamide (PA)
Polyurethane (PU)
Ethylene-vinyl Acetate (EVA)
Amorphous Poly-Alphaolefin (APAO)
Polyester
Metallocene Polyolefin (MPO)
Application Insight and Forecast 2014 - 2024
Furniture
Hygiene
Bookbinding
Packaging Solutions
Automobile
Textile
Electronics
Footwear
Others
Geographical Segmentation
Hot Melt Adhesives Market by Region
North America
U.S.
Canada
Mexico
Europe
Germany
U.K.
France
Italy
Spain
Rest of Europe
Asia-Pacific
Japan
China
India
Australia
South Korea
Rest of Asia-Pacific
Rest of the World
Brazil
South Africa
Saudi Arabia
U.A.E.
Others
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