The global polyester hot melt adhesives
market is expected to reach USD 530.3 million by 2022, according to a
new report by Grand View Research, Inc. Growth of key end-use industries such
as packaging and automotive is expected to remain a key driving factor for
global polyester hot melt adhesives market over the forecast period. Rapid
expansion of electronics industry particularly in Asia Pacific is also expected
to have a positive influence on the market growth.
Volatile
polyester prices coupled with increasing popularity of ethylene vinyl acetate
(EVA) hot melt adhesives are expected to remain key challenges for market
participants. Increasing R&D spending along with technological advancements
in equipment design with enhance dispensing capabilities at low temperatures is
anticipated to create new avenues for industry participants.
Textile
& fabrics was the largest application segment and accounted for 34% of
total market volume in 2014. This segment is anticipated to witness moderate
growth over the forecast period. Surging demand for high-end textile for
specialty applications including footwear, luggage, and protective apparel may
be attributed to changing lifestyle and growing participation in athletic and
social activities.
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Further key findings from the study suggest:
- Global polyester hot melt adhesives demand was 87.1 kilo tons in 2014 and is expected to reach 131.7 kilo tons by 2022, growing at a CAGR of over 5.4% from 2015 to 2022
- Automotive is expected to witness the highest growth 6.0% from 2015 to 2022. Hot melt technology implementation could lead to reduction in assembly timing and better adhesion of components. Growing demand for automobiles and other transport vehicles is expected to steer industry penetration in the segment.
- Continual development for new and decorated packaging in attempt to capture media and consumer attention is expected to steer competitiveness in the packaging industry. This offers new frontiers for polyester hot melt adhesive to address the varying requirements in packaging industry. Adhesion to wide range of surface textures such as paper, board and plastics is also expected to fuel its demand in packaging industry.
- Asia Pacific was the leading regional market with demand share estimated at 35.7% in 2014. Growing electrical & electronics and automobile industries, particularly in India, South Korea, and China is expected to drive the regional growth.
- Global polyester hot melt adhesive industry is moderately fragmented with majority share lying with the unorganized sector. Major companies operating in the market include 3M Company, Sika AG, Toyobo, Bostik, Evonik Industries, Eastman Chemical Company and SK Chemicals.
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About
Grand View Research:
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies
ensuring relevant and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email:
sales@grandviewresearch.com
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