Global Hot Melt Adhesives Market Revenue of USD 11.9 billion by 2024

Hot Melt Adhesives Market

Industry Overview The global hot melt adhesives market is predicted to grow at 6.1% CAGR during the forecast period with the

market size reaching USD 11.9 billion by 2024. The market is driven by the factors such as growing demand in increasing disposable income of the consumers in emerging economies such as China, India and

Indonesia, growinf packaging industries, rapid industrialization, and shift in technology used by automobile manufacturers for assembly.

Hot Melt Adhesives Market

Among different applications including furniture, hygiene, bookbinding, packaging solutions, automobile, textile, electronics, and footwear, automobile application is expected to witness fastest growth in demand for these adhesives, observing a CAGR of 7.0% during the forecast period. The fastest growth of this application is attributed towards the increasing use of these adhesives in the components of commercial and personal vehicles in the countries of developing economy.

Hot Melt Adhesives Market Geographic Overview: North America accounted for the major share in the hot melt adhesives industry in 2017, and its market is

set to reach USD 3.9 billion by 2024. Asia-Pacific is expected to witness the fastest growth in demand for these adhesives due to the increasing purchasing power and increasing disposable income of the Asian

countries such as China, India, Philippines, and others.

Hot Melt Adhesives Market Competitive Insight Key players offering products in the hot melt adhesives industry are Sika AG, Beardow & Adams (Adhesives)

Limited., 3M Company, Westlake Chemical Corporation, Bostik Inc., Jowat SE, H.B. Fuller Company, Avery Dennison Corporation, Arkema Group, DowDuPont Inc., and Henkel & Co. KGaA. Explore

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