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High demand for hot melt adhesives in Asia-Pacific region is the reason behind hot melt adhesives market revolution
Hot melt adhesives are defined as the adhesives that melt and flow on application of heat and solidify on cooling to give a strong adhesion. The Asia-Pacific is the fastest growing market of HMA with a CAGR of 9.7% between 2014 and 2019. China and India are the world’s most populous countries with about three fourth of the region’s inhabitants and currently represents over 50.0% of the total GDP output. The economies in China and India have surged, fuelled in part by strong construction activities and investments in manufacturing facilities. Increasing standards of living and the growing middle class have fuelled the domestic consumption of packaging, non-woven, along with pressure sensitive tapes and labels.
Japan, Taiwan, and South Korea are the developed countries in Asia-Pacific. China and Japan are the largest economies that represent about two-thirds of the region’s total market size. In 2013, the packaging application dominated the overall hot melt adhesives market size in Asia-Pacific region. Non-Woven/ Disposables and pressure sensitive applications are expected to drive the market in the next five years.
Hot Melt Adhesives Market by Type (EVA, Styrenic Block Copolymers, Polyolefin, Polyurethane, Polyamide and Others), by Application (Packaging, Non-Woven, Pressure Sensitive, Construction, Bookbinding and Others) and by Region - Global Trends & Forecasts to 2019
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