Analysts forecast the global hot melt adhesives market to grow at a CAGR of 6.40% during the period 2018-2022.
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One trend in the market is increasing demand for polyolefin-based hot melt adhesives.
Polyolefin-based hot melt adhesives exhibit moderate to high thermal stability and a longer open time. Since they have a varied open time, they are primarily used for spray applications in the packaging and labeling industry.
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Major key players in the global hot melt adhesives market: 3M, Arkema, DowDuPont, H.B. Fuller, and Henkel.
According to the hot melt adhesives market report, one driver in the market is excellent properties of hot melt adhesives. Hot melt adhesives are extensively used for many industrial applications due to some of their properties like rapid bond formation, flexibility of part designing, ability to bond with non-porous surfaces, superior bond moisture sensitivity, longer shelf-life, and ease of storage.
Hot melt adhesives are used in a variety of end-user industries like packaging, apparel, hygiene products, construction, electronics, and automotive.
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Further, the hot melt adhesives market report states that one challenge in the market is volatile price of raw materials. Hot melt adhesives are manufactured using raw materials such as styrene copolymers, polyolefin, polyurethane, EVA, and polyamide.
The scarcity of raw materials leads to fluctuations in the price trends, which causes a hindrance to the growth of the market. Further, this causes a disparity in the demand-supply cycle on a global basis.
Key questions answered in this report:
What will the market size be in 2022 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?