DUBLIN–(BUSINESS WIRE)–Jan 21, 2021–
The “Polyester Hot Melt Adhesives Market – Growth, Trends, and Forecast (2020 – 2025)” report has been added to ResearchAndMarkets.com’s offering.
The market for polyester hot melt adhesives is expected to grow at a CAGR of about 4% globally during the forecast period.
- Bostik (Arkema)
- Buhnen GmbH & Co. KG
- Cattie Adhesives
- Henkel Limited
- Nihon Matai Co., Ltd.
- Spiderbond Adhesives Co., Limited
- TOAGOSEI CO., LTD.
Key Market Trends
Growing Demand from the Automobile Industry
Polyester based hot melt adhesives are used in sealing various air and ventilation filters in the automobile industry. They are resistant to high temperatures and have a short setting time. Polyester adhesives are crystalline and solid at room temperatures.
- Polyester hot melt adhesives are compatible with polyester, PVC, polycarbonate, aluminum, copper, steel, non-woven, leather, and paper-based fabrics. They have resistance to oil and other non-polar solvents and are suitable for oil filter applications.
- According to the International Organization of Motor Vehicle Manufacturers (OICA), the worldwide automotive production in 2019 is about 91.78 million vehicles which declined by 5.2% compared to the previous year 2018. However, post COVID-19 measures by the government are expected to drive the automobile industry.
- The market growth of polyester hot melt adhesives is fueled by the growing demand for the automobile industry during the forecast period.
Asia-Pacific Region to Dominate the Market
The Asia-Pacific region is expected to dominate the market for polyester hot melt adhesives during the forecast period as a result of the increase in demand from countries like India and China.
- The growing textile industry in India and China is expected to drive the market. As per the Ministry of Textiles annual report 2018-19, India’s textile industry contributes to 7% of industry output in value terms, 2% of India’s GDP and 15% of the country’s export earnings. As stated by the National Development and Reform Commission, Domestic sales of apparel and knitwear stood at around USD 172.4 billion for the first 11 months of 2019, which increased by 3 percent year-on-year.
- The growing packaging industry is expected to drive the market in India and China. India’s packaging industry is the fifth-largest in the world and is growing at about 22-25% per year as per the Plastics Industry Association of India. China’s e-commerce market is dominated by Alibaba whose market share is around 59%. The company’s annual revenue in FY 2019 has seen 51% year-on-year growth and the growing e-commerce industry which relies on the packaging industry. The growing population and increasing demand for packaging are expected to drive the market for polyester hot melt adhesives.
- The aforementioned factors coupled with government support are contributing to the increasing demand for polyester hot melt adhesives market in the Asia-Pacific region during the forecast period.
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1.1 Increasing Demand from the Automobile Industry
4.1.2 Growing Demand from the Packaging Industry
4.2.1 Limited Application of Polyester Hot Melt Adhesives
4.2.2 Unfavorable Conditions Arising Due to the COVID-19 Outbreak
4.3 Industry Value Chain Analysis
4.4 Porters Five Forces Analysis
5 MARKET SEGMENTATION
5.1.1 Industrial Assembly
5.1.2 Food and Medical Packaging
5.1.3 Electrical Components
5.1.4 Heat Seal Coatings
5.1.5 Textile Laminates
220.127.116.11 South Korea
18.104.22.168 Rest of Asia-Pacific
5.2.2 North America
22.214.171.124 United States
126.96.36.199 United Kingdom
188.8.131.52 Rest of Europe
5.2.4 South America
184.108.40.206 Rest of South America
5.2.5 Middle-East and Africa
220.127.116.11 Saudi Arabia
18.104.22.168 South Africa
22.214.171.124 Rest of Middle-East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share Analysis/Ranking Analysis**
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Growing Demand from Emerging Economies
For more information about this report visit https://www.researchandmarkets.com/r/vzwuhk
View source version on businesswire.com:https://www.businesswire.com/news/home/20210121005641/en/
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INDUSTRY KEYWORD: CHEMICALS/PLASTICS MANUFACTURING
SOURCE: Research and Markets
Copyright Business Wire 2021.
PUB: 01/21/2021 10:20 AM/DISC: 01/21/2021 10:20 AM