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Global hot melt adhesives market: $7 billion industry forecast by 2018
Hot Melt Adhesives Market: Global Trends & Forecasts to 2018 - a new market research report on 2014-04-04 00:55:01
The global hot melt adhesives market is forecast to grow to a total of around $7 billion by the end of 2018. Hot Melt Adhesives are defined as adhesives that melt and flow on application of heat and solidifies on cooling to give a strong adhesion. HMA are 100% thermoplastic solids at temperatures below 80°C. They are applied in a molten state at temperatures that range from 120°C to 180°C depending on the applications and materials that are to be bonded. Hot melt adhesives form strong mechanical bonds that help them adhere to a wide range of substrates.
The industry is witnessing high growth on an account of growing demand in the Asia-Pacific region. China is the biggest consumer of hot melt adhesives due to rapid industrialization and infrastructure growth. Japan, South Korea, and Taiwan have high per capita consumption of hot melt adhesives, which is why they are expected to grow at a moderate CAGR.
The packaging, non-woven, and pressure sensitive industries grow at a high rate in China and India, which drives the demand for hot melt adhesives. There is low control on the consumption of high VOC adhesives in China and India, 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.
Key participants in the hot melt adhesives market are Avery Dennison Corporation (U.S.), Beardow & Adams (Adhesive) Ltd (U.K.), Henkel AG (Germany), H. B. Fuller (U.S.), Sika AG (Switzerland), Dow Corning Corporation (U.S.), and other market participants.
The need for superior performance properties is gradually shifting the adhesives market from traditional solvent based adhesives towards the use of high-performance products such as reactive and hot melt adhesives. This slow, but certain shift in portfolio is what fuels the overall growth of the hot melt adhesives market. Also, the constant push from regulatory authorities such as EPA (Environment Protection Agency) and REACH (Registration, Evaluation, Authorization, and Restriction of Chemicals) is likely to limit the use of solvent-borne adhesives in order to reduce the impact on the environment, thereby boosting the hot melt adhesives market.
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