Ethylene Vinyl Acetate Resins to hold Revenue Share of 33% in Hot Melt Adhesives Market over the Forecast Period

Development in product to decrease hazard generation and comply with stringent regulations enforced by various authorities are some of the key concerns of manufacturers of hot melt adhesives. Key players are focusing on introducing eco-friendly products to cater changing standards and stringent regulations. Development in product to decrease hazard generation and comply with stringent regulations enforced by various authorities are some of the key concerns of manufacturers of hot melt adhesives...

Development in product to decrease hazard generation and comply with stringent regulations enforced by various authorities are some of the key concerns of manufacturers of hot melt adhesives. Key players are focusing on introducing eco-friendly products to cater changing standards and stringent regulations.

Recent Developments in This Space

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Key Takeaways from Market Study

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"The COVID-19 pandemic is expected to significantly impact the global market for hot melt adhesives owing to decrease in demand primarily from the automotive & woodworking sectors," says a Persistence Market Research analyst.

Competitive Landscape

The global market has been identified as a fairly consolidated space owing to significant presence of key market participants.

Some of the key market players included in the study are 3M, Arkema S.A., Avery Dennison Corporation, Beardow & Adams (Adhesives) Ltd., DOW, HB Fuller Company, Henkel AG & Co. KGaA, Jowat SE, Sika AG, Tex Year Industries Inc., Adtek Malaysia SDN BHD, Buhnen GmbH & Co. Kg, Cherng Tay Technology Co., Ltd., Evonik Industries AG, and others.

Key manufacturers are anticipated to maintain a competitive environment in the global market. Key players are focusing on investing a fair share of their revenue in product development to launch bio-based products to sustain in the long run in this competitive environment.

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Conclusion

Growing end-use industries such as packaging solutions, furniture & woodwork, automotive, footwear, textiles, and electronics are boosting the sales volume of hot melt adhesives. This is due to ease of application of these adhesives in several end-use industries.

Polyurethane, ethylene vinyl acetate, and styrene block copolymers are also estimated to remain key resins in the global industry. East Asia is projected to remain one of the fastest-growing markets, whereas, North America is projected to account for a key share in the industry of hot melt adhesives.

3M, Arkema S.A., Avery Dennison, Henkel AG, Evonik Industries, Jowat SE, and DOW are also estimated to remain prominent market participants. Key players are focusing on boosting their market presence through mergers and acquisitions, launching of environment-friendly products, and strengthening their distribution network.

More Valuable Insights Available

Persistence Market Research, a research and consulting firm, has published a new market research report on the Global hot melt adhesives market that contains industry analysis of 2016–2020 and opportunity assessment for 2021–2031.

The report provides in-depth analysis of the market through different segments, namely, resin, end use, and region. The report also provides supply and demand trends along with an overview of the parent market.

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