NEW YORK, Feb. 3, 2016 /PRNewswire/ -- "The increasing need for high standard performance across all modern applications is driving the market for hot melt adhesives "
The global hot melt adhesives market is projected to reach USD 9.64 billion by 2020, registering a CAGR of 5.73% between 2015 and 2020. Shift from the traditional solvent-based adhesives toward the use of high-performance products such as hot melts globally is one of the key reasons for the growth of the hot melt adhesives market. The major reasons for this shift are that while using HMAs volatile organic compounds are reduced or eliminated and HMAs has long shelf life and usually can be disposed of without special precautions.
"Polyurethane: The fastest-growing product type for hot melt adhesives"
Polyurethane is the fastest-growing product type, as it is helpful in bonding non porous materials such as metal to wood or mirrors to walls. The other major advantage of polyurethane is that it does not contain solvents and is a low volatile organic compound producer which allows it be used as a raw material in manufacturing of hot melt adhesives. The polyurethane hot melt adhesives are used in end-use industries such as shoe making, paper packaging, and bookbinding.
"Asia-Pacific: The fastest-growing market for hot melt adhesives"
Asia-Pacific is estimated to be the fastest-growing market for hot melt adhesives market. The growth of the market in the region is attributed to expansion of production capacity, high demand for end-use products, and others. With the recent expansion activities by key players in the Asia-Pacific region; the demand for hot melt adhesives in this region is projected to register the highest CAGR between 2015 and 2020.
This study has been validated through primaries conducted with various industry experts globally. These primary sources have been divided under three categories: By Company; By Designation; and By Region.
- By Company Type- Tier 1- 34%, Tier 2- 33% and Tier 3- 33%
- By Designation- C Level- 12%, Director Level- 25% and Others- 63%
- By Region- North America- 12%, Europe- 12%, Asia-Pacific- 63%, and RoW- 13%
The report also provides company profiles and competitive strategies adopted by the major market players, such as The 3M Company (U.S.), Ashland Inc. (U.S.), Bostik S.A. (France), Dow Corning (U.S.), H.B. Fuller Company (U.S.), Henkel AG & Company (Germany), Jowat AG (Germany), Sika AG (Switzerland), and Toyobo Co., Ltd. (Japan) among others.
The report will help the market leaders/new entrants in this market in the following ways:
1. This report segments the hot melt adhesives market comprehensively and provides the closest approximations of the revenue for the overall market and the sub segments across the different verticals and regions.
2. The report helps stakeholders to understand the pulse of the market and provides them information on key market drivers, restraints, and opportunities.
3. This report helps stakeholders to better understand the competitor and gain more insights about the business. The competitive landscape section includes competitor ecosystem, new product developments, partnerships, mergers and acquisitions.
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