Hot Melt Adhesives Market:
Hot Melt Adhesive (HMA), or hot glue, is a type of thermoplastic adhesive designed to be used after heating by a hot glue gun and commonly available as solid cylindrical sticks. Hot Melt Adhesives holds an edge over water based adhesives due to high mechanical resistance and excellent paraffin solubility.
Global Hot Melt Adhesives Market is segmented into type and application. On the basis of type, the market is classified into ethylene vinyl acetate and polyolefin hot melts. Among these, Ethylene Vinyl Acetate Hot Melt Segment holds a major share in the market on account of their growing use in food packaging, construction and electronics. Owing to their eco-friendly and reliable nature, ethylene vinyl acetate segment is expected to continue remain the strongest market share holder in coming years.
Regional Analysis: Hot Melt Adhesives Market is segregated into five key regions across the world namely; Europe, North America, Latin America, Asia Pacific, and the Middle East & Africa.
Among these, Asia Pacific is expected to grow at the highest CAGR owing to increasing usage in end-use industries such as furniture, packaging and electronics. Hot Melt Adhesives Market has substituted water based due to reliable and versatile nature. Automobile and transport sector growth in countries such as India and Japan have fed the market owing to advantages such as low VOC emission, quick setting and durable retention.
Leading Players: Some of the dominant companies in the global hot melt adhesives market are; Arkema (France), Henkel AG & Co. KGaA (Germany), RPM International Inc. (U.S.A.) H.B. Fuller Company (U.S.A), Corning Corporation (U.S.A.), Huntsman International LLC. (U.S.A.), the 3M Company (U.S.A), Dow Chemical Company (U.S.A.), Sika AG (Switzerland), and others.
Market Categorization: The Global Hot Melt Adhesives Market is classified into application and type. On the basis of Applications segment is further segmented into food packaging, buildings & construction, wood working, carton sealing, general consumer packaging, and others. On the basis of market type, it is further segregated into ethylene vinyl acetate and polyolefin Hot Melt Adhesives. It has been observed that Hot Melt adhesives have already substituted water based adhesives due to its eco-friendly nature and antioxidant characteristics.
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