Market Trends of North America Hot-melt Adhesives Industry
This section covers the major market trends shaping the North America Hot Melt Adhesives Market according to our research experts:
Rising Demand from Paper, Board and Packaging Industry
- An extremely high proportion of all industrial products are sold in packaging - either due to stability requirements for storage and transport or for aesthetic reasons.
- Hot-melt adhesives are mainstream adhesives in the paper, board, and packaging industry. It is most widely used for carton closing, sealing, and pallet stabilization.
- Applications of hot-melt adhesives range from corrugated box construction and lamination of printed sheets, to packaging materials used for all types of consumer products and the production of large industrial tubes and cores.
- Although normal envelopes and paper bags consist of just a single layer of material, most packaging materials used nowadays are of different materials laminated together.
- The most crucial market for hot-melt adhesives has been packaging. The production of tapes and labels has been experiencing immense growth. The improvement in living standards and higher incomes, especially in developing countries, have increased the demand for a broad range of products, all of which require packaging. Moreover, the growing market for e-commerce and online purchasing is providing huge support and opportunities to the hot-melt adhesives market.
- Most of the demand for packaging is from the food and beverage industry. On the other hand, healthcare products are the largest users of folding cartons. These end-user segments are likely to boost the demand for PU hot-melt adhesives in the coming years.
- The aforementioned factors have been boosting the demand for hot-melt adhesives, in the recent times.
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United States to Dominate the Market
- In the North America region, United States dominated the hot-melt adhesives market. United States is one of the fastest emerging economies and has become one of the biggest production houses in the world, today. The country's manufacturing sector is one of the major contributors to the country's economy.
- Various automotive manufacturers are planning to invest during the coming years, amid threats from the government to increase levies on auto imports from Mexico. This factor is expected to positively impact the automotive industry in the country in the coming years, thereby increasing the consumption of hot-melt adhesives in the automotive industry through the forecast period.
- The healthcare sector in the United States is by far one of the most advanced sectors in the country. At this rate, the healthcare spending in the country will be approx. 20% of the entire GDP by 2027.
- The electronics market in the United States is the largest market in terms of size, and it is expected to remain the leading market over the forecast period, because of the usage of advanced technology, increase in the number of research and development centers, and rising demand from the consumers.
- Owing to all the above-mentioned factors, the market for hot-melt adhesives is expected to increase during the forecast period.
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