PUNE, India, May 17, 2017 /PRNewswire/ --
The report "Hot Melt Adhesives (HMA) Market by Type (EVA, SBC, MPO, APAO, Polyamides, Polyolefins, Polyurethanes), Application (Packaging Solutions, Nonwoven Hygiene Products, Furniture & Woodwork, Bookbinding), and Region - Global Forecast to 2022", published by MarketsandMarkets™, the market is projected to grow from an estimated USD 6.92 Billion in 2017 to USD 9.46 Billion by 2022, at a CAGR of 6.5%.
Browse 76 market data Tables and 29 Figures spread through 132 Pages and in-depth TOC on "Hot Melt Adhesives (HMA) Market"
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EVA: The largest type segment in the HMA market
Hot melt adhesives can be classified into Ethylene Vinyl Acetate (EVA), Styrenic Block Copolymers (SBC), Amorphous Poly-Alphaolefin (APAO), Metallocene Polyolefin (mPO), other Polyolefins (POP, PE, and so on), polyurethane, polyamide, Polyvinyl Acetate (PVA), and acrylic, among others. EVA is projected to lead the type segment of HMA, in terms of value and volume, during the forecast period, due to the wide usage of EVA in the manufacture of HMAs for various applications. The cost effectiveness of EVA over other types, is also leading to the growing demand for the manufacture of HMAs.
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Packaging solutions: The largest end-use industry in the HMA market
HMAs is used in a number of industries such as packaging solutions, nonwoven hygiene products, bookbinding, and furniture & woodwork, among others. Packaging solutions, nonwoven hygiene products, and others applications of HMAs accounted for more than 80% of the HMA market, in terms of value and volume, in 2016. The packaging solutions application is expected to lead the HMA market in terms of value and volume, during the forecast period, due to the increasing use of HMAs in various packaging solution applications, primarily food packaging.
Asia-Pacific: The fastest growing market for HMA
The HMA Market in the Asia-Pacific region is projected to grow at the highest CAGR. In the Asia-Pacific, China and India are leading the HMA market. In emerging markets such as the Asia-Pacific and South America, the nonwoven hygiene products segment is projected to drive the HMA market. This is due to changing consumer lifestyles, ageing populations, low mortality rates, demographic changes, and increasing consumer awareness regarding health and hygiene.
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Key players in the HMA market are 3M Company (U.S.), Arkema (France), Dow Corning (U.S.), H.B. Fuller (U.S.), Henkel AG & Company KGaA (Germany), Jowat SE (Germany), Beardow & Adams (Adhesives) Limited (U.K.), and Sika AG (Switzerland).
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