(MENAFN- America News Hour)In a recent published report, Kenneth Research has updated the market report for Hot Melt Adhesives Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Hot Melt Adhesives Market products.
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Moreover, the median health expenditure per capita recorded in the high-income, upper-middle income, and low & lower-middle income countries, recorded to be over USD 2,000, USD 400, and USD 100 respectively. Additionally, in the same year, the spending on health in high-income countries and in the low- and middle-income countries comprised approximately 8.2% and 6.3% of the GDP respectively.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
Global Hot Melt Adhesives Market is expected to reach $11.1 billion by 2024 growing at a CAGR of 6.5% from 2016 to 2024. The hot melt adhesives are thermoplastic materials that provide optimal hold by the process of melting and solidifying. They are available in the form of granules, powder, blocks, ribbons, foil, slats, and others. Special application equipment is required to operate in high temperature range needed to apply the hot met adhesives. Currently, dispensers and glue guns are most widely used equipment. These adhesives are widely used in consumer goods and construction industries for manufacturing pressure-sensitive products.
Some of the major drivers of global hot melt adhesives market are rising need for replacing other adhesive technologies, increasing demand from packaging industry, growth in non-woven disposable industries, and need for high-performance solutions. However, fluctuating price of raw materials and low thermal may hamper the market growth. Moreover, market expansion, and rising trend of printed and graphic products would create growth opportunities in the coming years.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
The global hot melt adhesives market is categorized on the basis of type, application, and geography. Type segment includes polyurethane (PUR), ethylene-vinyl acetate (EVA), styrene block copolymers (SBS/SIS), hot melt pressure sensitive adhesives (HMPSA), polyamide (PA), and other types. Application is segmented as electronics, packaging, wood and furniture, non-woven/hygiene, automotive, construction, and other applications.
Based on geographical analysis, global hot melt adhesives market is segmented into North America, Europe, Asia-Pacific, and Rest of the World (RoW). North America is further bifurcated in U.S., Canada, and Mexico whereas Europe consists of UK, Germany, Italy, France, and rest of Europe. Asia-Pacific is segmented into China, India, Japan, South Korea, and rest of Asia-Pacific, while RoW is bifurcated into South America, Middle East, and Africa.
The key players competing in this market include Sika AG, 3M Company, Worthen Industries, Toyobo Co., Ltd., Dow Corning, Jowat SE, Palmetto Adhesives Company, Henkel AG & Company, American Chemical Inc., and Beardow & ADAMS (Adhesives) Limited, among others.
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The key takeaways from the report:
The report will provide detailed analysis of Global Hot Melt Adhesives Market with respect to major segments such as type, and application
The report will include the qualitative and quantitative analysis with market estimation over 2015-2024 and compound annual growth rate (CAGR) between 2016 and 2024
Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report
An exhaustive regional analysis of Global Hot Melt Adhesives Market will be included in the report
Profile of the key players in the Global Hot Melt Adhesives Market will be provided, which include key financials, product & services, new developments and business strategies
Scope of Global Hot Melt Adhesives Market:
Type Segments
Ethylene-Vinyl Acetate (EVA)
Polyurethane (PUR)
Styrene Block Copolymers (SBS/SIS)
Hot Melt Pressure Sensitive Adhesives (HMPSA)
Polyamide (PA)
Other Types
Application Segments
Packaging
Electronics
Wood and Furniture
Automotive
Non-Woven/Hygiene
Construction
Other Applications
Geographical Segments
North America
U.S.
Canada
Mexico
Europe
UK
Germany
Italy
France
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
RoW
South America
Middle East
Africa
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Table of Contents
Chapter 1 Prefix
1.1 Market Scope
1.2 Report Description
1.3 Research Methodology
1.3.1 Primary Research
1.3.2 Secondary Research
1.3.3 In-house Data Modeling
Chapter 2 Executive Summary
Chapter 3 Market Outline
3.1 Market Inclination, Trend, Outlook and Viewpoint
3.2 Market Share Analysis: Company's Competitive Scenario
3.3 Market Dynamics
3.3.1 Drivers
3.3.1.1 Impact Analysis
3.3.2 Restraints
3.3.2.1 Impact Analysis
3.3.3 Opportunities
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