Global Hot Melt Adhesives Market ? Analysis and Forecast to 2024 | Arkema Group

Posted by pooja karn on February 2nd, 2019

Hot melt adhesives are usually in the form of thermoplastic adhesive that is applied with the help of hot glue gun as a result of which these adhesives are also known as hot glue. There is presence of huge array of polymers in this category that comprises of both synthetic and natural adhesives. The global hot melt adhesives market was valued at USD 7.9 billion in 2017 and is expected to contribute revenue of USD 11.9 billion by 2024, registering a CAGR 6.1% during the forecast period (2018 – 2024). The growth of this market is attributed towards the increasing capability of consumers in spending power in developing countries along with increasing expansion of the packaging industry.

Insight by Application
On the basis of application, the global hot melt adhesives market is segmented into furniture, hygiene, bookbinding, packaging solutions, automobile, textile, electronics, footwear, and others. Of these, automobile application is expected to witness fastest growth, registering a CAGR 7.0% during the forecast period. The fastest growth of this application is attributed towards expansive use of hot melts in the components of commercial and personal vehicles in the countries of developing economy. Furthermore, it has been observed that these adhesives are extensively being used by the automobile domain as a result it is expected to further bolster the growth of global hot melt adhesives market.

Geographic Overview
Geographically, North America hot melt adhesives market is projected to generate largest revenue of USD 3.9 billion by 2024, registering a CAGR of 6.1% during the forecast period. Moreover, Asia Pacific is expected to witness fastest growth during the forecast period owing to flourishing infrastructure development in countries such as India and China.

Competitive Insight
Some of the major players operating in the global hot melt adhesives market are Sika AG, Beardow & Adams (Adhesives) Limited., 3M Company, Westlake Chemical Corporation, Bostik Inc., Jowat SE, H.B. Fuller Company, Avery Dennison Corporation, Arkema Group, DowDuPont Inc., and Henkel & Co. KGaA.

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pooja karn
Joined: January 29th, 2019
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