Harrisburg, NC -- (SBWire) -- 10/22/2020 --Global Hot-Melt-Based Adhesives Market Size, Status And Forecast 2020-2030

The hot-melt-based adhesives market consists of sales of hot-melt-based adhesives. Hot-melt-based adhesives are known as hot glue, a form of thermoplastic adhesive that is heated to create a melt before applying to the surface and is designed to be melted in an electric hot glue gun.

The global hot-melt-based adhesives market was worth $12.3 billion in 2019. It is expected to grow at a compound annual growth rate (CAGR) of 8.4% and reach $17.03 billion by 2023.

The hot-melt-based adhesives market in Asia Pacific is forecasted to register the highest CAGR during 2019-2023.

Major players in the market are Jowat Se, Sika AG, Tex Year Industries Inc., DowDuPont, Costchem SRL, American Chemical Inc., Bostik, Inc., Huntsman Corp., Beardow & Adams Ltd., Hexcel Corporation

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With growing awareness to preserve environment, customers/consumers are fetching for eco-friendly products. Features like affordability, non-release of VOC into the environment, longer shelf life, reusability without degradation, and fast-drying ability are making hot melt adhesives as environmentally friendly adhesives when compared to other adhesives. For example, companies such as Bostik, is providing hot-melt polyurethane adhesive for textile industry by using a solvent less technology that reduces the usage of hazardous solvent like methylene chloride. There is a visible success of hot-melt polyurethane adhesive in underwear, sportswear and medical garment manufacturers in Asia. The increasing demand for hot-melt polyurethane adhesive will drive the hot melt adhesives market.

Many products produced by adhesives companies are potentially hazardous during the manufacturing stages. This is mainly because the manufacturing processes involve high temperatures and high-pressure reactions which can be dangerous unless controlled carefully. In addition, some of these manufactured dyes has adverse impact on both living organisms and the environment. Due to this, regulations in the adhesives industry  in assessing and managing the risks involved in the manufacturing, transporting and disposing of chemicals increased in the historic period. Adhesives have to be compliant with complex regulations that govern labeling, handling, manufacturing, and shipping and storage of the product. Additional compliance costs for these changing regulations, as different countries and geographies have different regulations, was a major restraint for hot melt based adhesives companies.

Many hot melt based adhesive companies are adopting IoT (Internet of Things) technologies to connect equipment and smart devices to garner real time insights and locate gaps in the manufacturing process. The data obtained is processed, analyzed and interpreted by plant managers and senior level management to improve quality and achieve optimum production levels. For example, smart systems give information on the working condition and performance of chemical reactors with embedded software and analytics tools to notify plant operators and managers on possible machine breakdowns. For instance, some of the major companies adopting IoT include BASF SE, The Dow Chemical Company and H.B. Fuller.

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Influence of the Hot-Melt-Based Adhesives market report:

-Comprehensive assessment of all opportunities and risk in the Hot-Melt-Based Adhesives market.

-Hot-Melt-Based Adhesives market recent innovations and major events.

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-Conclusive study about the growth plot of Hot-Melt-Based Adhesives market for forthcoming years.

-In-depth understanding of Hot-Melt-Based Adhesives market-particular drivers, constraints and major micro markets.

-Favourable impression inside vital technological and market latest trends striking the Hot-Melt-Based Adhesives market.

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What are the market factors that are explained in the report?

-Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.

-Key Market Features: The report evaluates key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.

-Analytical Tools: The Global Hot-Melt-Based Adhesives Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter's five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.

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