Hot Melt Adhesives (HMA) Market Industry Leaders & New Revenue Pockets
The report "Hot Melt Adhesives (HMA) Market by Type (EVA, SBC, MPO, APAO, Polyamides, Polyolefins, Polyurethanes), Application (Packaging Solutions, Nonwoven Hygiene Products, Furniture & Woodwork, Bookbinding), and Region - Global Forecast to 2022", published by MarketsandMarkets™, the market is projected to grow from an estimated USD 6.92 Billion in 2017 to USD 9.46 Billion by 2022, at a CAGR of 6.5%.
Browse 76 market data tables and 29 figures spread through 132 pages and in-depth TOC on “Hot Melt Adhesives (HMA) Market”
The HMA market is driven by the increasing demand for HMA from applications such as packaging solutions, nonwoven hygiene products, and consumer DIY. The report includes an analysis of the HMA market by region, namely, North America, Europe, Asia-Pacific, Middle East & Africa, and South America. The growth of the HMA market is expected to be fueled by the rising demand from application segments due to the rapid growth in the packaging industry and expansion of installed capacities in the nonwoven industry.
This report estimates the market size of HMAs by resin type, by application, and region, in terms of value and volume. The HMA market is projected to grow at a CAGR of 6.5% from 2017 to 2022, in terms of value. The trend of using HMA in various applications, as it improves their characteristics such as strength, durability, and heat sensitivity, is projected to drive the HMA market.
Among all resin type segments, the mPO segment is projected to witness the highest growth from 2017 to 2022. These resins are white or transparent in color and do not have odor due to the low VOC content. They are thus widely preferred in the manufacture of nonwoven hygiene products, and specialty & food packaging.
Among all application segments, the nonwoven hygiene products application is projected to grow at the highest CAGR from 2017 to 2022, and demand is fueled by the increasing usage of HMAs in the manufacture of baby diapers, feminine care products, and adult incontinence products. This application is driving the HMA market in the Asia-Pacific and South America.
Asia-Pacific was the fastest growing HMA market in 2016, in terms of value and volume, followed by South America. Developed regions, such as Europe and North America, are relatively mature markets compared to the Asia-Pacific region, the Middle East & Africa, and South America. In emerging markets such as the Asia-Pacific and South America, the nonwoven hygiene products segment is expected to drive the HMA market during the forecast period. This is due to changing consumer lifestyles, ageing populations, low mortality rates, demographic changes, and increasing consumer awareness regarding health and hygiene. In the Asia-Pacific region, the market in India is projected to grow at the highest CAGR during the forecast period in terms of value and volume. China has been an export-oriented country; however, the growing domestic demand is expected to lead to an increase in the domestic consumption of HMA.
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