The global hot-melt adhesives market is anticipated to rise at a compound annual growth rate (CAGR) of 8.7% during the period of 2018 to 2026, according to a report from Transparency Market Research. Rising at this CAGR, the global hot-melt adhesives market is expected to touch a valuation of $8.642 million by 2026.
The competitive landscape of the global hot-melt adhesives market is largely consolidated in nature because key players hold around 70% of the market share. The rest is fragmented with the presence of a few small players, according to the report. Top players in the global hot-melt adhesives market are reportedly adopting strategic approach such as acquisitions and mergers to get a leg-up in the market.
From a geographical standpoint, the hot-melt adhesives market in Asia Pacific is projected to rise at a CAGR of 9.2% during the forecast period. This is mainly because of the growing demand for packaging in e-commerce, and in the food and beverage industries. On the basis of product, the polyolefin segment is anticipated to dominate the global hot-melt adhesives market in the near future.
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