Global Polyester Hot Melt Adhesives Market by Application (Packaging, Electrical & Electronics, Automotive, Textiles & Fabrics) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

In 2019, the global market for polyester hot melt adhesives was worth USD 355.9 millions. The market is expected to grow at 8.7% compound annual growth rate (CAGR), in terms of revenue, between 2020 and 2027. Market growth is expected to be driven by growing demand from the packaging sector. Over the forecast period, the packaging application segment will continue to be the fastest growing segment. The increasing demand for flexible packaging in the food and drink sector, as well as growing demand from online businesses like e-commerce and food delivery are expected to drive the demand for polyester hot melting adhesives. The demand for corrugated packaging has increased due to technological advances in packaging materials.

Corrugated packaging is being used in more non-durable products due to its cost-effectiveness and environmental friendliness. Corrugated packaging materials are used primarily in the following industries: food, medicine, rubber, and petroleum. According to projections, the fabric industry will continue to be a major contributor in the U.S. hot melt adhesive market's growth. According to the National Council of Textile Organizations, the nation's textile sector saw a rise in revenue to USD 76.8billion in 2018, up from USD 73billion in 2017. In 2018, more than 60% of the revenue came from home furnishings, fabrics, yarns and carpets.

Imports from Asian countries like India, Vietnam, Bangladesh and China are a major part of the U.S. textile sector. These countries have seen a significant amount of disruptions in the value chain as a result of the ongoing COVID-19 epidemic.

Manufacturers have been forced to work at lower production levels, which has led to a decline in exports and production in the first three quarters of 2020. In April 2020, for example, the Shanghai New Union Textra Import and Export Co. reported a dramatic decline in textile exporters' new orders. This will likely lead to a decline of 50% in profits for FY 2020.

Application Insights

In 2019, textiles and fabrics applications accounted for the largest share of revenue, with more than 30%. The adhesives used in textiles provide strong bonds, even for textiles with high water repellency that have been pretreated with hydrophobic Polymers. There is an increasing demand for breathability and water resistance, such as in textiles. In the footwear industry, innovative technologies are required. Over the next eight year, product demand will increase due to the rising textile industry in emerging countries like India and China.

Due to the COVID-19 pandemic, revenue from textiles and fabrics applications will likely drop 8.8%. Many textile companies in India and China were operating at very low production capacity between March 2020 and May 2020. The industry is now gaining momentum due to increasing orders from vendors.

When buying a car, the interior design is an important criterion. The use of bonding technology in lamination processes allows for soft and pleasant surfaces in textile applications. The application of adhesive helps market vendors meet customer requirements and comply with technical specifications. The automotive industry is expected to grow in large volumes, especially in North America and Asia Pacific.

Regional Insights

Asia Pacific was responsible for 42% of the total revenue in 2019. In 2019, Asia Pacific saw the highest demand of polyester hot melt adhesives due to its constant demand from the textiles, fabrics, and large electronics, automotive, and packaging sectors. China and India currently dominate the production and distribution of textiles and fabric.

COVID-19 had a significant impact on the Asia Pacific textiles and garments industry during the first half 2020. Exports were also affected. The market is showing positive signs of recovery at the moment. Some manufacturers are worried about the second wave COVID-19. According to government data, textile trade between India & China saw a 12.4% y-o-y drop in January and February 2020. This is compared with 2019.

Market vendors in Europe are expected to have more opportunities for flexible packaging . The packaging industry has seen a positive impact in the first half 2020 due to increased demand for medical masks, and other healthcare products. From 2020 to 2027, the packaging market segment in Europe will grow at 9.0%.

Market Share Insights & Key Companies

Globally, the market for polyester hot melt adhesives is fragmented. There are key players like HB Fuller and Arkema Group and Sika AG. However, there are also a few smaller and medium-sized regional players that operate in different regions. International companies are in fierce competition with each other and local players, who have strong distribution channels and local knowledge to support local supply chains.

This market is a niche one and there have not been any mergers or acquisitions in recent years. Some of the major adhesive manufacturers have the ability to acquire small- and medium-sized businesses because of their strong demand. The following are some of the major players in the global market for polyester hot melt adhesives:

• Bostik

• H.B. Fuller

• 3M

• Avery Dennison Corporation

• Dow Inc.

• Sika AG

Up Market Research published a new report titled “Polyester Hot Melt Adhesives Market research report which is segmented by Application (Packaging, Electrical & Electronics, Automotive, Textiles & Fabrics), By Players/Companies HB Fuller, Dow Inc, Avery Dennison Corporation, Bostik, 3M, Sika AG”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Polyester Hot Melt Adhesives Market Report Segments:

The market is segmented by Application (Packaging, Electrical & Electronics, Automotive, Textiles & Fabrics).

Polyester Hot Melt Adhesives Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Polyester Hot Melt Adhesives Market

Overview of the regional outlook of the Polyester Hot Melt Adhesives Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Polyester Hot Melt Adhesives Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Polyester Hot Melt Adhesives Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Packaging

                2. Electrical & Electronics

                3. Automotive

                4. Textiles & Fabrics

7. Market scenario by region, sub-region, and country.
8. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
9. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
10. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Polyester Hot Melt Adhesives Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

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Reasons to Purchase the Polyester Hot Melt Adhesives Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.