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The global market for Hot Melt Adhesives is projected to reach US$11bn by 2022, driven by the migration of key end-use sectors like manufacturing, woodworking, textiles and graphic arts away from conventional solvent based adhesives to thermoplastic adhesives.
Hot melt adhesives (HMAs) are advanced adhesive formulations that provide numerous advantages over conventional solvent-based adhesives. Some of the benefits of hot melt adhesives that are helping drive the substitution trend include quick drying features, elimination of the need for special equipment to facilitate drying, increases throughput in production lines, shortens time-to-market period, longer shelf-life and can be reused without risk of degradation in bonding quality, easy disposal, more environmental friendly, and cost effective. Hot melts also score over solvent-based adhesives with their high viscosity due to which they are preferred over the latter for bonding substrates that are permeable and porous in nature. Hot melt adhesives start bonding immediately after it is applied on the object as it instantly cools down to its solidification point. Quick solidification is an invaluable benefit for automated, high speed manufacturing lines. The growing investments in smart automation and smart factories are therefore forecast to benefit the already growing preference for hot melt adhesives.
The use of hot melt adhesives continues to grow encouraged by their exclusive properties such as adhesion to a broad assortment of surfaces, effortless use, aging features and strength, among others. With almost all industries seeking more competent solutions to manufacture and package goods, boost line speed, decrease down time and improve time to market capabilities, and reduce maintenance and power expenditure, the business case for HMAs remains strong. While packaging & labeling and production of non-woven/disposable products are well established users of HMAs, emerging over the horizon are newer applications such as automotive, textile manufacturing, lamination and graphic arts. Electronics represents another major emerging end-use sector where the miniaturisation trend and the ensuing use of lightweight engineered plastics, is opening up new application possibilities for HMAs.
As stated by the new market research report on Hot Melt Adhesives, Asia Pacific represents the largest, as well as the fastest growing market, followed by the USA and Europe. India and China represent the growth engines in Asia Pacific supported by aggressive investments in new technology solutions, infrastructure development and production capacity expansion of the manufacturing sector. While packaging represents the largest end-use market for HMAs worldwide, Polyolefins based HMAs ranks as the fastest growing product market.
Major players covered in the report include 3M, Adhesive Technologies, Inc. Alfa International Corporation, American Chemical, Inc., Ashland Inc., Avery Dennison Corporation, Beardow & Adams (Adhesives) Limited, Bostik Inc., Capital Adhesives, Costchem srl, Daubert Chemical Company, Inc. , Dow Corning Corporation, Dynea Oy , Evans Adhesive Corporation Ltd., H.B. Fuller Company, Henkel AG & Co. KGaA, Hexcel Corporation, Huntsman Corporation, Jowat Corporation, LORD Corporation , Momentive Specialty Chemicals Inc., Sika AG , Tex Year Industries Inc., Toyobo Co., Ltd , Wisdom Adhesives, and Worthen Industries Inc., among others.
For more information please click on:
http://www.researchandmarkets.com/publication/mvfr5je/835004