The global market for hot-melt adhesives is projected to reach $4.65 billion by the year 2017, spurred by growth in end-use industries such as infrastructure and construction, particularly in developing markets, according to a new global report by Global Industry Analysts Inc. Stringent environmental regulations imposed by various countries are driving the demand for water-based adhesives, which is thus prompting the development of hot-melt adhesives. Further, the exclusive characteristics of adhesives in terms of adhesion to a broad assortment of surfaces and ease in use are driving growth in the hot-melt adhesives market, specifically in the construction sector.
Over the years, globalization and liberalization have facilitated global trade of adhesives and sealants across all geographies, particularly in developed countries. In addition, emerging countries such as China, Japan, India and South Korea, among others, are driving the market for adhesives and are poised to contribute significantly to the market’s growth in the coming years. End-use applications for hot-melt adhesives are widespread; thus, the market for adhesives is highly variable and is dependent on various factors, such as economic conditions, GDP growth, consumer purchasing power, and the overall health of the end-user industries.
North America dominates the global scenario as the single largest market for hot-melt adhesives, according to the report. Environmental regulations and widespread consumer acceptance make hot-melt adhesives a viable option in the adhesives market in the U.S. The Asia-Pacific market currently accounts for a relatively smaller share of the global market, but is expected to display potential for rapid growth and development. Strong growth in infrastructure and construction projects and the need to comply with stringent environmental regulations are all expected to propel demand for hot-melt adhesives in the region.
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Global Hot-Melt Adhesives Market to Reach $4.65 Billion by 2017
November 22, 2011