Global Industry Analysts has released a new market report, ‘Hot Melt Adhesives: A Global Strategic Business Report,’ which includes a complete product and industry synopsis, product advancements, issues and trends, profiles of major companies and recent activities in the industry.
The business report discusses primary end-use applications such as woodworking, non-rigid bonding and packaging and many more. The geographic markets covered in the report are Asia-Pacific, Europe, Japan, North America and the rest of the world.
Sealants and adhesives have been used in several commercial and industrial applications. General-purpose adhesives find use in both industrial and commercial sectors, while engineering and specialty adhesives have been used significantly in automotive and construction markets. Hot melt adhesives find applications in shipbuilding, consumer goods, textiles, construction remodeling and repair, footwear, electronics and the automotive sector.
The growth in developing economies, especially in the construction sector, is the driving factor for the adhesive market. Hot melt adhesives are user friendly and have widespread surface compatibility and performance properties, which make them an ideal high-value product for numerous industries. Limited availability of raw materials and growing prices are the some of the challenges faced by the market.
According to the report, North America is a major market for hot melt adhesives. The Asia-Pacific market, which now represents a small percentage of the worldwide market, is a growth-oriented market that will develop at 5.5% of CAGR through 2017. The packaging market is the largest end-use market representing a major percentage of the worldwide hot melt adhesives market. Other end-use markets such as lamination, automation and non-rigid bonding will also experience growth in the coming years.
Dow Corning, Capital Adhesives, Beardow & Adams (Adhesives), Bemis Associates, Ashland, American Chemical, Alfa International, Adhesive Technologies and 3M are some of the companies profiled in the report.
Source: http://www.strategyr.com/