Global Hot Melt Adhesives Market Segmented by Type, Application and Geography Trends and Forecasts (2015-2020) - Reportlinker Review
NEW YORK, Sept. 17, 2015 /PRNewswire/ -- Global Hot Melt Adhesives Market has a total market value of $5205.77 million as of 2014. The market is expected to reach $7177.94 million by 2020 with a CAGR of 5.5%. North America is the current world leader followed by Europe and Asia-Pacific. China is the largest consumer of hot melt adhesive products owing to greater demand from manufacturing industry.
North America is expected to maintain its dominance over the forecasted period. Europe will show an average growth whereas Asia-Pacific region is expected to witness highest growth in the coming future. Increase in the number of manufacturing units in the developing region such as India is expected to boost the Asian market.
The growth of packaging, non-woven, and pressure sensitive industries in China and India will drive the demand for hot melt adhesives market. Consumption of high VOC adhesives in China and India are low due to the absence of related government policies. Market players are keen to expand their product portfolio and offer it to consumers at competitive prices.
The major market players are focusing on R&D activities to innovate products under the regulations of EPA and REACH. Other development strategies opted by market players include signing agreements and collaborations to optimize their distribution chain in growing economies.
Hot melt adhesives are solvent-free, solid compounds that have negligible VOC (volatile organic compound) compared to solvent-based adhesives. These are used in a wide range of markets including Packaging, Non-Woven Application, Automotive, Footwear, Construction, Furniture and Bookbinding.
Major players in hot melt adhesives market are 3M Corporation, American Chemical Inc., Ashland Inc., Avery Dennison Corporation, Beardow Adams Ltd., Bostik smart adhesives, Dow Corning Corporation, Nordson Corporation, Evans Adhesive Corporation Ltd, H.B. Fuller, Henkel AG & Co., Hexcel Corporation, Huntsman Corporation, Jowat AG, Sika AG, Toyobo Co. Ltd, H E Wisdom & Sons Inc. and Worthen Industries, NH.
Drivers
The growth is largely fueled by increasing applications, technological advancements, and growing demand in the developing countries such as China, India and Brazil. The constant push from regulatory authorities such as EPA (Environmental Protection Agency) and REACH (Registration, Evaluation, Authorization, and Restriction of Chemicals) will shift the use of solvent-borne adhesives to hot melt adhesives.
Challenges
Volatility in raw material prices is a major challenge in the global hot melt adhesives market. Economic cycles in any end-user industry will affect the demand pattern for hot melt adhesives.
What the report offers
1) Market Definition along with identification of key drivers and restraints for the market.
2) Market analysis with region specific assessments and competition analysis on a global and regional scale.
3) Identification of factors instrumental in changing the market scenarios, rising prospective opportunities and identification of key companies which can influence the market on a global and regional scale.
4) Extensively researched competitive landscape section with profiles of major companies along with their strategic initiatives and market shares.
5) Identification and analysis of the Macro and Micro factors that affect the industry on both global and regional scale.
6) A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
Read the full report: http://www.reportlinker.com/p03281954-summary/view-report.html
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