The hot melt adhesives market is driven by the factors such as growing demand in increasing disposable income of the consumers in emerging economies such as China, India and Indonesia, growing packaging industries, rapid industrialization, and shift in technology used by automobile manufacturers for assembly.

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The different types of hot melt adhesives available in the market are SBC, PA, PU, EVA, amorphous poly-alphaolefin (APAO), polyester, and metallocene polyolefin (MPO). The growth of EVA segment is driven by its various benefits such as durability, quicker time setting, and suitability in a huge variety of temperatures.

North America accounted for the major share in the hot melt adhesives industry in 2017, and its market is set to reach USD 3.9 billion by 2024. Asia-Pacific is expected to witness the fastest growth in demand for these adhesives due to the increasing purchasing power and increasing disposable income of the Asian countries such as China, India, Philippines, and others.

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Key players offering products in the hot melt adhesives industry 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.

Source: VynZ Research