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Polyester Hot Melt Adhesives Market Research Report: By Application (Industrial Assembly, Packaging, Electrical & Electronic Component Manufacturing, Heat Seal Coating, Textile Lamination) – Global Industry Analysis and Growth Forecast to 2030

  • Published: December 2020
  • Report Code: CM12102
  • Available Format: PDF
  • Pages: 162

Polyester Hot Melt Adhesives Market Overview

The global polyester hot melt adhesives market generated revenue of $473,057.2 thousand in 2019, and is expected to demonstrate a CAGR of 5.3% during 2020–2030. Some of the key growth factors for the industry include increasing consumption of polyester hot melt adhesives in the packaging sector and rising demand from the automobile industry.

The COVID-19 pandemic has put the world on a standstill, affecting major operations and resulting in an industrial catastrophe. The pandemic has affected every industry, including the market for polyester hot melt adhesives, with the temporary shutdown of automotive manufacturing units and consumer electronic manufacturing companies, along with the shutdown of raw material manufacturing facilities. This, in turn, led to the disruption in supply chain and significant increase in production costs. However, governments ensure supply of essential commodities, such as packaged food and beverages, thus, the usage of such adhesives in the food & beverage sector remained unaffected.

Polyester Hot Melt Adhesives Market

Industrial Assembly to Account for the Highest Consumption of Polyester Hot Melt Adhesives Owing to the Growing Industrial Sector

In 2019, the industrial assembly category accounted for the largest market size in the polyester hot melt adhesives market, on the basis of application. This is attributable to the high-volume consumption of these adhesives for providing adhesion to industrial components of automobiles, electrical and electronic items, and other industrial products. Additionally, the growth in the industrial sector, particularly in emerging economies, is expected to further propel the consumption of these adhesives. Owing to such factors, the category is expected to retain its dominance during the forecast period in the market.

Asia-Pacific (APAC) Region to Generate the Highest and Fastest- Growing Demand for Polyester Hot Melt Adhesives on Account of Growing Electrical & Electronics and Automobile Industries

APAC accounted for the largest volumetric demand during the historical period and the trend is likely to continue during the forecast period, majorly on account of high-volume consumption of polyester hot melt adhesives for industrial assembly application, including bonding of electrical & electronic items and automotive components. With the growth in the end-use industries in developing countries of the region, such as India, China, Thailand, and Vietnam, the consumption level is witnessing a rise. Owing to such factors, the demand for polyester hot melt adhesives is high in the region, and the trend is likely to continue in coming years.

Geographically, the polyester hot melt adhesives market in APAC is expected to witness the fastest growth during the forecast period. One of the major factors responsible for the growth is the rapidly increasing demand for such adhesives from end-use industries in developing countries, such as China, India, Vietnam, and Thailand. Additionally, the availability of low-cost raw materials and labor, makes the region an attractive market for industrialists. Considering this, the region is projected to receive high amount of foreign direct investments from the west, owing to which, the demand for polyester hot melt adhesives is projected to increase in APAC.

Polyester Hot Melt Adhesives Market

Switch from Traditional Stitching to Hot Bonding Technology Observed as a Key Market Trend

In recent times, a shift from traditional stitching method toward adoption of hot bonding technology has been observed in the polyester hot melt adhesives market. This is primarily ascribed to the increasing awareness of hot melt adhesives’ advantages in the textiles industry. The coating of adhesives on the material provides water resistance and no sewing required. This makes it suitable for usage in textile bonding of leather, wool, linen, and polyester, and several others products.

Polyester Hot Melt Adhesives Market

Increasing Consumption of Polyester Hot Melt Adhesives in the Packaging Sector to Drive the Market Growth

Polyester hot melt adhesives serve as a suitable bonding solution for packaging purposes, due to their excellent high temperature resistance as well as high stability. Rising sales of packaged food, bottled water, fruit juice, and dairy products have fueled the growth of the packaged food & beverage industry, across the globe. With the increase in food consumption worldwide, the demand for such adhesives for food packaging purposes is expected to increase.

Similarly, the usage of these adhesives for medical purposes, such as usage in band aids, wound dressing materials, and medical tapes, along with the usage for packaging of medical products, is expected to increase on account of the growing healthcare industry. Therefore, such factors are expected to promote the growth of the polyester hot melt adhesives market in coming years.

Rising Demand from the Automotive Sector and Shift Toward Lightweight Vehicles to Promote Market Growth

Lately, the shift in preference toward lightweight automotive vehicles has created a high-volume demand for polyester hot melt adhesives. Traditionally, mechanical fasteners, welds, nuts, and bolts were used to assemble several automotive parts and components, which increase the weight of an automotive vehicle. The usage of such accessories significantly impacts fuel efficiency of the vehicle, owing to which there has been a shift in preference toward lightweight vehicles. Polyester hot melt adhesives have excellent resistance toward high temperatures, along with their ability to provide lightweight bonding of components. Moreover, the usage of such adhesives increases production efficiency, due to their fast adhesion properties. Owing to such advantages, the demand for such adhesives from the automotive sector is witnessing a rise, which, in turn, benefitting the polyester hot melt adhesives market.

Polyester Hot Melt Adhesives Market Report Coverage
Report Attribute Details
Historical Years 2014-2019
Forecast Years 2020-2030
Base Year (2019) Market Size $473,057.2 thousand
Forecast Period (2020-2030) CAGR 5.3%
Report Coverage Market trends, revenue estimation and forecast, segmentation analysis, value chain analysis, porter’s five forces analysis, regional and country breakdown, company share analysis, companies’ strategic developments, company profiling
Market Size by Segments Application, geography
Market Size of Geographies U.S., Canada, Germany, Russia, France, U.K., Poland, Hungary, China, Japan, India, South Korea, Malaysia, Philippines, Mexico, Brazil, Argentina, South Africa, Saudi Arabia, U.A.E.
Secondary Sources and References (Partial List) Association for Packaging and Processing Technologies, Association of European Adhesives and Sealants Manufacturers, Association of the Adhesives Industry, Australian Packaging Covenant Organization, British Adhesives and Sealants Association, China Adhesives and Tape Industry Association, Chinese Automobile Manufacturers Association International

 

Players Entering into Partnerships and Agreements to Expand Market Coverage

The polyester hot melt adhesives market is fragmented in nature, with presence of a large number of small-scale players, and a few large-scale players such as Bostik S.A., Henkel AG & Co. KGaA, 3M Company, and H.B. Fuller Company.

In recent years, players in the industry are entering into strategic agreements, in order gain larger market coverage. For instance:

  • In September 2019, Bühnen GmbH & Co. KG announced its key strategic partnership with GLS Products LLC in the U.S. With this partnership, Bühnen GmbH & Co. KG aims to expand its hot melt adhesives business in North America.
  • In May 2018, Jowat SE announced its collaboration with Pidilite Industries Ltd. According to the agreement, Pidilite Industries Ltd. is handling the sales and distribution in India, Bangladesh, Nepal, and Sri Lanka, for adhesive products manufactured by Jowat SE. Also, the two companies announced the technical collaboration to provide a range of thermoplastic hot melt adhesives, used in modular and other wooden furniture and industrial segments.

Polyester Hot Melt Adhesives Market

Some of the Key Players in Polyester Hot Melt Adhesives Industry Include:

  • 3M Company
  • Bostik S.A.
  • Bühnen GmbH & Co. KG
  • Evonik Industries AG
  • H.B. Fuller Company
  • Henkel AG & Co. KGaA
  • Mitsubishi Chemical Corporation
  • Sika AG
  • Sipol S.p.a.
  • Qidong Xinxin Hotmelt Adhesive Co. Ltd.

Polyester Hot Melt Adhesives Market Size Breakdown by Segment

The global Polyester Hot Melt Adhesives Market report offers comprehensive market segmentation analysis along with market estimation for the period 2014–2030.

Based on Application

  • Industrial Assembly
  • Packaging
  • Electrical & Electronic Component Manufacturing
  • Heat Seal Coating
  • Textile Lamination
  • Others

Geographical Analysis

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • Russia
    • France
    • U.K.
    • Poland
    • Hungary
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Malaysia
    • Philippines
  • Latin America
    • Mexico
    • Brazil
    • Argentina
  • Middle East and Africa
    • South Africa
    • Saudi Arabia
    • U.A.E.
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