Hot-melt adhesives are increasingly becoming popular due to their fast setting speed, relatively low cost, and low environmental impact, according to “Hot Melt Adhesives Market by Products, Applications & Geography—Global Trends & Forecasts to 2018,” a new report from Research and Markets. Hot-melt adhesive systems also have the advantage of a broad formulation latitude, which helps produce a large number of products for specific end uses and substrates.
Consistent advances in raw materials used to formulate hot-melt adhesives have reportedly allowed adhesive manufacturers to engineer new high-performance formulations. Hot-melt adhesives are primarily made from thermoplastic polymers that include ethylene vinyl acetate (EVA), block copolymers such as styrene butadiene styrene (SBS) or styrene isoprene styrene (SIS), polyurethane, polyamide, polyester, and polyethylene. EVA is the most widely used polymer due to its high versatility and low cost.
The need for superior performance properties is gradually shifting the adhesives market from traditional solvent-based adhesives toward the use of high-performance products, such as reactive and hot-melt adhesives. This slow but certain shift in portfolio is what fuels the overall growth of the hot-melt adhesives market, according to the report. In addition, the constant push from regulatory authorities such as the U.S. Environment Protection Agency and REACH is likely to limit the use of solvent-borne adhesives in order to reduce the impact on the environment, thereby boosting the hot-melt adhesives market.
A key issue in the industry today is volatility in the prices of raw material used in adhesives. Growth is largely fueled by increasing applications, technological advancements, and growing demand in the Asia-Pacific region. Asia-Pacific is reportedly the fastest growing region due to the growing demand for hot-melt adhesives in India and China. North America is a matured market and is expected to grow at a moderate rate till 2018. Brazil is expected to have high demand for packaging, pressure sensitive, and construction adhesives till 2018, as it is hosting the Soccer World Cup in 2014 and the Olympics in 2016.
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