Why Demand For Hot Melt Adhesives Is Growing In The Global Market - 2022

                          Hot-Melt Adhesives Market

The global hot-melt adhesives market was valued at $6,621.8 million in 2015, and it is expected to grow at a CAGR of 7.9% during 2016 - 2022. The factors driving the growth of the global market include growth in end-use industries, rapid industrialization rate and expansion of packaging industry, and demand of environmental friendly adhesives and regulations for recycling. The growth of hot melt adhesives market is largely driven by growth in the end use industries including packaging, automotive, transportation, textiles and footwear.

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The rapid development in emerging economies and increasing demand for light weight and fuel efficient automobile has increased the market share of hot-melt adhesives. HMA offers multipurpose solutions in automobile industry and are utilised in fixing cables in roof area, manufacturing car seats and joining two different spare parts.

Geographically, the Asia-Pacific market held the largest share in the global hot-melt adhesives market in 2015. The major reasons behind the growth of the market in the region include the rapid industrialization and regulatory pressure by government to use eco-friendly products.

Asia-Pacific is anticipated to be the fastest growing market for hot-melt adhesives industry. The automotive, electronics and packaging industries are the major industry segment showing significant growth in HMAs market. The production volume for passenger car and LCV segment in Asia-Pacific accounted for more than 50% share of the global production.

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The key companies operating in the global hot-melt adhesives market includes the 3M Company, Dow Corning Corporation, Henkel AG & Co. KGaA, Ashland Inc., H.B. Fuller, Bostik Inc., Jowat SE, Toyobo and Westlake Chemicals Corporation.

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