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Hot-melt Adhesives Market, Global Industry Growth Analysis, Recent Developments, Strategies, Market Impact, Segmentation, Size, Growth, Share, Trend, Future Demand and Leading Players Updates by Forecast to 2028
Posted on: 2021-09-22 13:04:12
Global Hot-melt Adhesives Market: By Hot-melt Adhesives Product Type (Acrylic, Polyurethanes, PVA, Epoxy, Styrenic block, EVA and Others), By Hot-melt Adhesives Application (Pressure-sensitive applications, Construction, Packaging, Furniture, Automotive, Footwear, and Others), By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa (MEA)), (Growth, Future Prospects, COVID-19 Impact Analysis, Drivers, Restraints, Trends, Opportunities, Investment Landscape, and Competitive Analysis, 2017 - 2028)
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Global Hot-melt Adhesives Market: Overview
The global hot-melt adhesives market size was estimated at US$ XX Million in 2020 and is projected to grow at a CAGR of XX% over the upcoming years. The key growth factors behind the growth of hot-melt adhesives market include the growing demand for hot-melt adhesives in the construction industry along with the increased use for hot-melt adhesives in the manufacturing activities across the globe. Furthermore, the emergence of new technologies along with the growing appliances industry are some other key factors for the growth of the hot-melt adhesives market in the upcoming years.
Global Hot-melt Adhesives Market: COVID-19 Impact
The COVID-19 pandemic had a huge impact across all the industries including logistics & supply chain, oil & gas, manufacturing, electronics, and others. The partial or full lockdown in the year 2020 and 2021 across numerous countries such as India, the U.S., the U.K., Germany, and others had further impacted the supply of raw materials and finished products across the globe. The demand for automotive parts has decreased during the COVID-19 period due to halt in the manufacturing industry as the demand for raw materials and finished good has been halted during the COVID-19 period. Therefore, the global hot-melt adhesives market is severely impaced by COVID-19.
Global Hot-melt Adhesives Market: Application Analysis
On the basis of application, the global hot-melt adhesives market is categorized into pressure-sensitive applications, construction, packaging, furniture, automotive, footwear, and others. The pressure-sensitive applications category had a substantial share in 2020. This is mainly due to the rising demand for sound damping films, safety labels, and others worldwide. Besides, the automotive category is estimated to witness the fastest growth in the upcoming years due to increased demand for lightweight vehicles and high fuel efficiency vehicles.
Global Hot-melt Adhesives Market: Regional Analysis
Based on the regions, the global hot-melt adhesives market is segmented into North America, Europe, Asia Pacific, Latin America (LATAM), and Middle East & Africa (MEA). Asia Pacific is estimated to witness fastest growth in the global hot-melt adhesives market during the forecast period. This is ascribed to the growing manufacturing industry in the region along with the rising demand for hot-melt adhesives in the building & construction industry in the region. Besides, North America and Europe is estimated to witness substantial growth during the forecast period.
Global Hot-melt Adhesives Market: Segment Analysis
ATTRIBUTE DETAILS
Study Period 2017-2028
Base Year 2020
Forecast Period 2021-2028
Historical Period 2017-2019
Unit Value (US$ Billion)
Segmentation
Global Hot-melt Adhesives Market: By Hot-melt Adhesives Product Type
Acrylic
Polyurethanes
PVA
Epoxy
Styrenic block
EVA
Other
Global Hot-melt Adhesives Market: By Hot-melt Adhesives Application
Pressure-sensitive applications
Construction
Packaging
Furniture
Automotive
Footwear
Others
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