Newark, NJ, May 31, 2022 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global Polyester Hot Melt Adhesives market is expected to grow from USD 482.2 million in 2020 and to reach USD 792.2 million by 2028, growing at a CAGR of 9.2% during the forecast period 2021-2028.
The Polyester Hot Melt Adhesives market is witnessing significant growth from the past years. This growth is attributed to the increasing demand for advanced applications from various industries, such as automobile, manufacturing, packaging, furniture, and hygiene. The introduction of various favourable government policies and heavy investment in advanced polyester hot melt adhesives will propel the polyester hot melt adhesives market. Due to the growing adoption of E-commerce, online shopping has become the favoured shopping option for shoppers. Ultimately HMAs are used as shipping labels on boxes for dispatch for online sopping purpose leading to increase in market growth.
Polyester Hot Melt Adhesives is referred to as polymer based thermoplastics used in packaging, manufacturing, furniture, hygiene applications for end use industries. Polyester based hot melt adhesives are used to seal various air and ventilation filters in the automotive industry. They have a short setting time, are resistant to high temperatures, are crystalline and solid at room temperature, resistant to oil and other non-polar solvents, and suitable for oil filter applications. They are compatible with polyester, PVC, polycarbonate, aluminium, copper, steel, non-woven fabric, leather and paper. The polyester hot melt adhesive exhibits excellent adhesion to metals, plastic films, wood panels, and materials and has superior hydrolysis resistance at high temperature and high humidity. It has a remarkable characteristic of not clogging during moulding and winding.
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The global polyester hot melt adhesives market is expected to witness significant growth, owing to increasing use of polyester hot melt adhesives which is relatively high as compared to current solvent-based adhesives, increasing use of ready-to-use packaging products by online businesses such as e-commerce and food delivery, polyester hot melt adhesives are economic and environmental friendly in nature because of which it has a wide variety of applicability and properties of dissolving the polymer using solvent-free water and increasing use of corrugated packaging in non-durable products make it the part of the end product users such as in medicine, food, durable consumer goods, rubber and petroleum. The factors restraining the market growth are lack of band strength at higher temperatures, limited use of substrates regarding polyester hot melt adhesives applications. Using reactive adhesive that is further cured after solidification by humidity and ultraviolet radiation will provide market growth opportunities.
Key players operating in global polyester hot melt adhesives market include Henkel AG & Co. KGaA, 3M, H.B Fuller Company, Bostik, Sika AG, Arkema Group, and Dow Inc. To gain a significant market share in the global polyester hot melt adhesives market, the key players are now focusing on adopting numerous strategies.
- For instance, in September 2019, Henkel AG & Co. KGaA at FachPack 2019 launched hot melt type of adhesives for palletization. This launch strengthened the position of the company across the world.
Textiles & fabrics segment dominated the market and held the largest market share of 35.8% in the year 2020
On the basis of application, the global polyester hot melt adhesives market is segmented into packaging, polymer films & foils, automotive, textiles & fabrics, electrical & electronics. Textiles & fabrics segment dominated the market and held the largest market share of 35.8% in 2020. This growth is attributed to the growing need for breathability and water resistance properties. E.g. in the footwear industry, it requires innovative technologies because the adhesives used in the fabrics guarantee practical and durable bonds even for highly water repellent fabrics pre-treated with hydrophobic polymers, the rise of textile industries in emerging economies.
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Regional Segment of Polyester Hot Melt Adhesives Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
On the basis of geography, the global polyester hot melt adhesives market is classified into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. Asia-Pacific region held the largest market share in the year 2020. This growth is ascertained by the Japan region owing to rising growing demand for furniture and building industries with high investment in infrastructure and manufacturing and rising demand for nonwoven goods is crucial to consumer growth in the Asia Pacific region. North America's packaging industry is a significant driver for the market due to the involvement of some of the largest packaging producers. Brazil, Mexico, Argentina, Columbia, and Chile are the major growth countries as packaging, electronics, automotive, textiles, and footwear are the leading market segments. Emerging economies such as India, Japan, and China are high-growth markets for the use of these adhesives whereas many developed economies in Western Europe, such as Germany, Italy, the UK, Spain, and France, is expected to affect Polyester Hot Melt Adhesives demand dramatically.
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About the report:
The global polyester hot melt adhesives market is analysed on the basis of value (USD million). All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insights of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitors’ position grid analysis.
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