Hot Melt Adhesives Market | Size, Share, Challenges, Key Vendors, Drivers and Trends by Forecast to 2023


Posted September 24, 2020 by Marketresearchfuture

Hot Melt Adhesives Market | Size, Share, Challenges, Key Vendors, Drivers and Trends by Forecast to 2023
 
Market Insights:

Hot melt adhesives are thermoplastic adhesives which are able to create a strong and flexible bond between materials. They provide thermal resistance and stability, environmental compatibility, and excellent finish to applied surfaces owing to which they experience high demand from end-use industries such as food packaging, building & construction, wood working, carton-sealing, and others. The global hot melt adhesives market is likely to showcase noteworthy expansion over the forecast period of 2017-2023, asserts Market Research Future (MRFR) in a detailed study. Raising environmental concerns regarding the use of solvent-borne adhesives has acted as major force motivating the shift towards the use of hot melt adhesives. This has propelled the demand for hot melt adhesives across diverse industry verticals. Expansion of key end-use industries has induced demand within the market. On the other hand, fluctuations in the price and availability of raw materials might hinder the growth of the market over the forecast period.

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Industry Segmentation:
The global hot melt adhesives market has been segmented based on type and application. By type, the global hot melt adhesives market has been into ethylene vinyl acetate and polyolefin hot melts. The ethylene vinyl acetate segment is dominating the market due to their extensive application in food packaging, electronics, and construction industry. Ethylene vinyl acetate segment is expected to showcase the maximum growth over the forecast period on account of high demand from end-user industries. Hot melt adhesives are highly preferred over water-based adhesives due to their high mechanical strength and excellent paraffin solubility. Polyolefin hot melts are a combination of tackifiers and base resins which make them moisture and water resistant as well as resistant to polar solvents and solutions.
By application, the global hot melt adhesives market has been segmented into food packaging, buildings & construction, wood working, carton- sealing and others. The packaging segment accounts for the largest share of the global market and is expected to continue its dominance over the forecast period.
Competitive Landscape
• Henkel AG & Co. KGaA
• Arkema
• Dow Corning Corporation
• H.B. Fuller Company
• RPM International Inc.
• Huntsman International LLC.
• Sika AG
• The 3M Company
• the Dow Chemical Company

Industry Updates
March 2019- LyondellBasell, a global leader in polyolefin technologies announced that HPCL-Mittal Energy Limited (HMEL) had selected its fifth generation Spheripol polypropylene process technology for a new polypropylene plant in India.

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Tags Hot Melt Adhesives Market
Last Updated September 24, 2020