Albany, New York: The escalating demand for hot melt adhesives from the automobile and packaging industries may serve as a good growth generator for the hot melt adhesives market across the forecast period of 2020-2025. The instant bond ability of hot melt adhesives across various materials makes it one of the ideal components in diverse applications across numerous sectors.
The major applications where hot melt adhesives are used consistently are clear case bonding, bubble gum wrapper coating, automotive headlight and glue sticks, tape manufacturing, construction, woodworking, textile, footwear, and stock manufacturing. Minimized waste, improved productivity, and a long-lasting bond are the advantages that enable the hot melt adhesives market to grow. The report titled ‘Global Hot Melt Adhesives Market Insights, Forecast to 2026’ explains the pain points, advantages, and parameters that lead to the growth of the hot melt adhesives market.
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The report on the hot melt adhesives market offers in-depth analysis through considerable research across various parameters such as competitive landscape, key trends, and current scenario. This report also focuses thoroughly on the ongoing COVID-19 pandemic and its effect on the hot melt adhesives market. The report will prove as a source of market intelligence for the business owners and market shareholders in this sector to a large extent.
The COVID-19 outbreak has dug a deep hole in the growth of nearly all sectors across the globe. The pandemic has caused the loss of lives and businesses to a great extent. The shutting down of various manufacturing facilities due to the lockdown orders by numerous countries also affected the hot melt adhesives market largely.
However, the outbreak provides a glimmer of hope for the hot melt adhesives market to grow. The use of face masks and face shields has been advised by top health organizations for protection against the novel coronavirus. The surging demand from the global populace for face shields and masks is directly proportional to the increase in demand for hot melt adhesives.
Many manufacturers are using hot melt adhesives to produce sewing-less face masks for saving time and accelerating the speed of production. The use of hot melt adhesives for producing face shields is also gaining considerable momentum. The use of hot melt adhesives across many manufacturers of masks and face shields may help the hot melt adhesives market to keep afloat across the COVID-19 outbreak.
The trend of specially customized hot melt adhesives for certain products brings considerable growth opportunities for the hot melt adhesives market. The production of customized hot melt adhesives is estimated to gain traction. Therefore, such developments may serve as growth multipliers for the hot melt adhesives market.
The hot melt adhesives market is concentrated with a few companies acquiring almost 50 percent of the market share. These players hold a prominent position in the hot melt adhesives market and are involved in mergers, acquisitions, joint ventures, collaborations, and partnerships help in cementing the base for these players. Research and development activities to create efficient formulations of hot melt adhesives for catering to various applications in a precise way may further help the hot melt adhesives market to strengthen the growth.
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Key participants of the hot melt adhesives market are Dynea OY, Henkel AG & Company, 3M Company, Tianyang, Fuller Company, Bostik Inc., BEMIS Associated Inc., Worthen Industries Inc., Wisdom Adhesives, DOW Corning Corporation, H.B.Fuller Company, Hexcel Corporation, and American Chemicals Inc.
Asia Pacific may show good growth across the forecast period. China is the second-largest packaging manufacturing country in the world and India is the fifth largest packaging manufacturer in the world. These factors serve as key growth contributors for the region.
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