A type of thermoplastic adhesive, which is mainly supplied in sticks and is developed to be melted in hot glue gun is termed as hot melt adhesives. These adhesives do not come with posting such as cancer warning signs. Furthermore, the absence of formaldehyde in hot melts adds to its popularity. Hot melt adhesives are further 100 percent solids and are not influenced by humid weather conditions. Besides this, they dont require expensive shut down as well as start -up process during lamination.
Tremendous growth in the packaging industry has played an eminent role in the growth of the hot melt adhesives market. In addition, rapid growth in the non-woven disposables industry too has kept the prospects of the sector high. On the other hand, rise in the consumption volume of food products is likely to create greater opportunities in years to come. Moreover, an increase in the consumption of the healthcare products are also anticipated to open new avenues of growth. Hence, its definite that rising consumption of packaged food items and changing lifestyles would keep the future of the market robust.
The hot melt adhesives market is further segmented based on type, application industry and geography. The types covered in the market research report consists of Polyamide, EVA (Ethylene-Vinyl Acetate), SBC (Styrenic Block Copolymers), PU (Polyurethane), APAO (Amorphous Poly-Alpha olefin & POE (Polyolefin Elastomers) and others. Based on application industry the market is segmented into book binding, furniture, construction, non- woven disposables, packaging, pressure sensitive uses and others. Regions such as North America, Europe, Asia Pacific and LAMEA are likely to witness rapid growth.
The key market players active in the market are Toyobo Co., Ltd., 3M Company, Sika AG, Ashland Inc., Jowat AG, Bostik S.A., Henkel AG & Company, Dow Corning and H.B. Fuller Company
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KEY MARKET SEGMENTS