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The demand for hot melt adhesives continues to grow.
The hot melt adhesive industry has been growing steadily. According to a recent report, it will continue to grow steadily from 2020. This report aims to analyze the growth of the global hot melt adhesive industry during the forecast period from 2015 to 2020, and to identify the factors behind the industry growth as well as why some regions grow faster than others. And this growth is driven by technological advancements and innovations in polymer-based adhesives. As of 2015, the hot melt adhesive industry was valued at 5.4 billion US dollars.
Hot melt adhesive is an industrial-strength adhesive that is melted by heat and then cooled to achieve its bonding performance. They are mainly composed of one or more polymers and additives such as resins and pigments that provide different properties for various adhesives. Hot melt adhesives are named after their polymer matrix and offer various types of hot melt adhesives for numerous industries and applications such as packaging, product assembly, woodworking, binding, and product labeling, including ethylene-vinyl acetate, polyamide, and polyurethane.
Market area
To view and measure the growth of the industry, the market demand for hot melt adhesives is divided into three parts: polymer-based, application and location. There are seven key regions in the hot melt adhesive market, including North America, which accounts for 30% of the global market; Western Europe, which accounts for 30% of the global market; the Asia-Pacific region (ASEP) excluding Japan; Japan; Eastern Europe; Latin America; and the Middle East and Africa. Among all these regions, the new report finds that the Asia-Pacific region is the fastest-growing market for hot melt adhesives, mainly due to recent capacity expansion and high demand for end-use products.
The reasons for global growth
The increasing demand for high-standard performance in all industries and applications has made a significant contribution to driving the global market of hot melt adhesives. This report, combining data discovered through the analysis of regional trends, the popularity of polymer-based materials and industrial applications, predicts that the global hot melt adhesive market will grow to 9.64 billion US dollars by 2020, with a compound annual growth rate of 5.73% over the five-year period. One of the main reasons cited in the report is the global demand shifting from solvent-based adhesives to hot-melt adhesives. There are mainly three reasons for this shift in popularity:
Hot-melt/polymer-based adhesives can reduce or completely eliminate elastic organic compounds.
Hot-melt/polymer-based adhesives have a longer shelf life than solvent-based adhesives.
Hot melt adhesives/polymer-based adhesives can be processed without special instructions or adverse environmental effects.
The increase in market demand and consumption of hot melt adhesives is also attributed to their solvent-free properties. These often comply with the regulatory authorities’ requirements in terms of health, safety and product quality.
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