HOT-MELT ADHESIVES MARKET FORECAST AND COVID-19 IMPACT (2022 – 2027) readmarketresearch.com
The market for Hot-melt Adhesive is expected to grow at a higher during the projected period. Due to increased demand from the paper, board, and packaging industries throughout the world, the ethylene-vinyl acetate segment led the market and is anticipated to expand at a healthy rate over the projection period. Adoption of bio-based hot-melt adhesives is expected to become a future potential. Asia-Pacific led the global market, with China, India, and Japan accounting for the majority of consumption.
Key Pointers and Market Trends Analysis in this Report:
· The global market for hot-melt adhesives is extremely competitive, with the top 10 manufacturers controlling almost half of the market. Dow, Henkel AG & Co. KGaA, 3M, Sika AG, and Arkema Group are among the main firms.
· Asia-Pacific led the worldwide market with majority of the market share. Hot-melt adhesives are becoming more popular in the packaging and healthcare sectors in nations such as China, India, Japan, and South Korea.
· China holds the world's second-largest packaging industry. Due to the rising demand for packaged consumer products in the food segment, such as microwave food, snack foods, and frozen foods, the country is anticipated to grow steadily throughout the projection period.
· As the country's employment rate rises, so does the use of ready-to-eat foods. In addition, the country's need for cosmetic items is rising. During the forecast period, the aforementioned factors are anticipated to boost the adhesives market in the area.
· Demand for HMAs from the packaging sector in U.S. has increased during the Covid-19 pandemic, owing to a huge growth in demand for packaged food and drinks. This was due to a rapid shift in consumer spending habits following the announcement of the country's government-imposed lockdown.
End-user Industry of Hot-melt Adhesive:
· Building and Construction · Paper, Board and Packaging · Woodworking and Joinery · Transportation · Footwear and Leather · Healthcare · Electrical and Electronic Appliances
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