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The U.S. is expected to remain one of the prominent markets for the production and consumption of hot melt adhesives across the globe. Demand for Hot Glue Colored Sticks in the Packaging Industry to Surge by 2032. Key players in the global hot melt adhesives market are expected to account for about 60-65% of the overall share.
NEWARK, Del. , Sept. 22, 2022 /PRNewswire/ -- The global hot melt adhesives market is anticipated to create a lucrative growth opportunity in the global landscape by registering a CAGR of 5.3%. from 2022 to 2032. The market is expected to reach a valuation of US$ 7,562.9 Mn by the end of 2022 and is predicted to reach US$ 12,675.7 Mn by 2032.
Over the historical period, the global hot melt adhesives market witnessed a CAGR of 4.8% between 2014 to 2021. The manufacturing activities have been reduced and significant reduction has been witnessed in the product capacities, part-time shifts, as well as introduction of automated production machinery, let manufacturers improve their market positions. These aforementioned factors are expected to drive the hot melt adhesives market during the forecast period.
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Several regulatory bodies including the Registration, Evaluation, Authorization, and Restriction of Chemicals (REACH) and the Environmental Protection Agency (EPA) are expected to take more steps in order to limit the use of solvent-based adhesives which helps in reducing their negative impacts on the environment. These factors are likely to drive the global hot melt adhesives market in the upcoming decade. As per FMI, the market is estimated to exhibit a CAGR of 5.3% from 2022-2032.
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In order to elevate their annual turnover and fortify their market positions worldwide, leading manufacturers in the market are purchasing small-scale market players. To efficiently meet the rising demand and thrive in the highly competitive market, key participants are also concentrating on mergers and expansion activities.
Hot Melt Adhesives Market Outlook by Category
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1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Analysis and Recommendations
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3.1. Key Trends Impacting the Market
More Insights into the Hot Melt Adhesives Market
The U.S. is anticipated to dominate the global hot melt adhesives market owing to the presence of various dominant manufacturers in the North American region. In addition to that, the increasing adoption of advanced technology in the U.S. would also contribute to the growth in the hot melt adhesives market in the country. The U.S. packaging industry is expected to be a key driver of market expansion owing to the presence of leading packaging manufacturers in the region.
China is the second largest market in the East Asia hot melt adhesives market attributed to the rapid expansion of various end-use industries. Owing to the rising demand from sectors, including footwear, packaging, disposable hygiene products, textile chemicals, and automotive & transportation, China is projected to showcase considerable growth.
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Electronics Adhesives Market Share: Increasing global population levels and the rise in per capita income of population have supported the sales of automobiles with comfort and safety features through electronic systems. This in turn has bolstered the prospects of the electronics adhesives market.
Silicone Adhesives And Sealants Market Size: Rising use of UV curing technology and thermosets in the manufacturing of product is expected to enhance production speed, improve scratch resistance and provides superior bonding, which in turn is expected to emerge as the most significant growth driver for global silicone adhesives and sealants market over the forecast period.
Aerospace Adhesives and Sealants Market Trends: Owing to increasing penetration of composite components in aircrafts, the demand for aerospace adhesives and sealants is increasing.
Industrial Adhesives Market Outlook: Expanding at a CAGR of 4.5% the global sales of Industrial Adhesives is expected to increase from a valuation of US$ 52,862.0 Mn in 2021 to US$ 78,016.4 Mn by the end of 2030.
Structural Adhesives Market Demand: The global structural adhesives market enjoys a valuation of US$ 11.6 Bn in 2021, and is predicted to expand at a steady CAGR of 5.6% and reach a net worth of US$ 16.1 Bn by the end of 2028.
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