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

Market Outlook

The polyester hot melt adhesives market size was $473,057.2 thousand in 2019, and it is expected to display a CAGR of 5.3% between 2020 and 2030. The market is thriving due to the rising usage of polyester hot melt adhesives in packaging and automotive applications.

The COVID-19 pandemic has severely impacted the polyester hot melt adhesives industry owing to the shutdown of the manufacturing units of raw materials, consumer electronics, and automobiles. These shutdowns have disrupted the supply chain and increased the production costs. However, the continuous supply of essential commodities, such as food and beverages, has resulted in a consistent usage of such adhesives in the food and beverage sector.

Polyester Hot Melt Adhesives Market Outlook

Industrial Assembly Application To Consume Highest Quantity of Polyester Hot Melt Adhesives

The industrial assembly category, within the application segment, held the largest market share in 2019. This was due to the high-volume consumption of these adhesives for bonding electrical and electronic items, industrial components of automobiles, and other industrial items. Thus, the growth of the industrial sector in developing countries is expected to boost the consumption of these adhesives in the coming years. Owing to these reasons, the category will retain its dominance on the polyester hot melt adhesives market during 2020–2030.

Asia-Pacific (APAC) To Be Largest and Fastest-Growing Region

APAC consumed the highest volume of polyester holt melt adhesives during 2014–2019, and it is expected to continue this trend during 2020–2030. This can be owed to the high-volume consumption of such adhesives for industrial assembly applications, such as the bonding of automotive parts and electrical and electronic products. Moreover, the APAC region is expected to witness the fastest growth in the market for polyester hot melt adhesives in the near future. This can be ascribed to the soaring demand for such adhesives in the end-use industries of Thailand, India, Vietnam, and China. Moreover, the availability of cost-effective labor and raw materials is attracting more industrialists to the region. Thus, the abundant opportunities offered by this region are attracting heavy foreign direct investments (FDI) from the West.

Polyester Hot Melt Adhesives Market Regional Analysis

Shift toward Hot Bonding Technology from Traditional Stitching Is Key Trend

In recent years, a switch from traditional stitching toward the hot bonding technology has been observed around the world. This shift can be owed to the growing awareness about the benefits of hot melt adhesives in the textile industry. With the application of these adhesives as coatings, materials become water-resistant and require no sewing. These features make such adhesives suitable for the bonding of polyester, leather, linen, wool, and several other products, which drives the polyester hot melt adhesives market.

Polyester Hot Melt Adhesives Market Growth Drivers

Rising Adoption of Polyester Hot Melt Adhesives in Packaging Industry Fueling Market Growth

These adhesives are suitable for packaging purposes due to their exceptional temperature resistance and high stability. The increasing inclination of customers toward packaged food, fruit juices, dairy products, and bottled water has accelerated the growth of the packaged food and beverage industry, globally. This will, therefore, fuel the growth of the market for polyester hot melt adhesives in the coming years.

Apart from this, such adhesives are used in the packaging of medical products and in band-aids, medical tapes, and wound dressing materials. The growth of the healthcare sector will, in turn, accelerate the utilization of these adhesives in the near future.

Burgeoning Demand for Lightweight Automotive Materials To Drive Market Growth

The increasing preference for lightweight automobiles is playing a prominent role in the rising consumption of polyester hot melt adhesives. Traditionally, the automobile industry relied on mechanical fasteners, such as nuts, bolts, and welds, to bond automotive parts and components. The usage of these accessories increases the weight of vehicles, thereby impacting their fuel efficiency. Owing to these reasons, there has been a significant surge in the adoption of lightweight vehicles, in turn, the polyester hot melt adhesives market growth. Such materials have a high resistance toward extreme temperatures, and they can offer lightweight bonding of components. Additionally, the usage of these adhesives enhances the production efficiency owing to their quick adhesion properties.

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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