The North America PUR hot-melt adhesives market is expected to register a CAGR of 7.20% during the forecast period of 2018–2023. The United States is estimated to lead the market owing to its advancement in packaging and healthcare applications. Packaging segment is expected to be the fastest growing by application.
Substitute for Solvent-borne Adhesives
PUR hot-melt adhesives contain 100% solids and do not contain solvents. PUR hot-melt adhesives combine different positive attributes found in various unique adhesives. Polyurethane is strong and durable, and thus, is ideal for a wide variety of applications. Most solvent-based adhesives contain flammable solvents, which require critical precautions for safe handling. Also, the solvent-borne adhesives are not recommended, owing to environmental concerns related to emissions. PUR hot-melt adhesives have numerous advantages over solvent-based adhesives, like the removal of hazardous air pollutants (HAPs) and volatile organic compounds (VOCs), fast setup time and reduced cost, elimination of plant explosion risk, which corresponds to lower insurance costs and non-requirement for air pollution control devices. Odor elimination is the additional benefit of the reactive PUR hot-melt adhesives, which has assisted in driving the replacement of solvent-based adhesives. Elimination of odor is a priority for the packaging industry. In packaging materials, most odors are related to the solvent used in adhesives. Odors stem not only from solvents but also from the thermal and UV degradation of solvents.
Packaging - The Fastest Growing Application
An extremely high proportion of industrial products are sold in packages – either due to stability requirements for storage and transport or for aesthetic reasons. Most packaging materials presently used are different materials laminated together, which require the use of adhesives. PUR hot-melt adhesives are an excellent solution for carton closing, sealing, and pallet stabilization for food, beverages, and other consumer and industrial products. PUR hot-melts offer a stronger adhesion and cures way better than traditional hot-melts, making it a prudent choice in the growing industrial packaging industry. In addition, these adhesives are also available in clear versions, making it easy to hide any glue lines, to give an appearance of continuity in the material. The high visibility makes clear boxes and folding carton packaging more attractive to consumers. The PUR hot-melts sealing process is expected to gradually replace the conventional bundled packaging and tape packaging, owing to its excellent binding force, good quality, and beautiful appearance. Most of the demand for packaging is from the food & beverage industry. On the other hand, healthcare products are the largest users of folding cartons.
United States to Lead the Market
The construction market of the United States grew by 1.9% in the Q3 of 2017 over Q3 of 2016 owing to the rise in new single-family house constructions. Construction of the new residential houses in the United States climbed by over 13% in October, recording the biggest jump in a year. The new residential construction in terms of annual rate for housing units started in the United States, recorded a growth of 6.34% in 2016 over 2015. In the first 11 months of 2017, the residential house sales recorded a growth of 9.44% when compared to the same period in 2016. The United States is competing toward a complete transformation of its diesel buses into zero-emission buses. As of 2016, the United States had over 300 individual zero-emission buses operating in transit fleets throughout the nation. Electrical buses are fast gaining importance, and their production is set to grow rapidly in the coming years. Shifting trend toward electric vehicles, due to rise in environmental regulations, is the major factor influencing the adhesives market. Mexico and Canada are the largest markets for the US technical textiles, accounting for 55% of the total trade. In the recent years, Mexico has become a car manufacturing hub, thereby, directly impacting the demand for industrial fabrics and thus, increasing the demand for textile imports from the United States.
Notable Developments in the Market
- November 2017: Bostik acquires XL Brands in flooring adhesives in the United States.
- October 2017: H.B. Fuller’s finalized its acquisition of Royal Adhesives & Sealants for USD 1.575 billion. This acquisition is likely to deepen H.B. Fuller’s expertise in a range of sectors, such as medical, electronics, hygiene, transportation, construction, clean energy, and others.
Major players are Henkel AG, HB Fuller, Arkema, Sika AG, and 3M, among others.
Reasons to Purchase the Report
- To understand the impact of end-user applications on the market.
- Analyzing various perspectives of the market with the help of Porter’s Five Forces Analysis.
- To understand the dominating technology in the market.
- Identify the countries expected to witness the fastest growth during the forecast period.
- Identify the latest developments, market shares, and strategies employed by the major market players.
- 3-month analyst support along with the Market Estimate sheet (in Excel).
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1.1 Research Phases
1.2 Scope of the Market
1.3 Study Deliverables
2. Executive Summary
3. Market Insights
3.1 Industry Value Chain Analysis
3.2 Industry Attractiveness - Porter's Five Forces Analysis
3.2.1 Bargaining Power of Suppliers
3.2.2 Bargaining Power of Consumers
3.2.3 Threat of New Entrants
3.2.4 Threat of Substitute Products and Services
3.2.5 Degree of Competition
4. Market Dynamics
4.1.1 Growing Demand from Packaging and Electronics Industry
4.1.2 Increasing Usage as a Substitute for Solvent-borne Adhesives
4.1.3 Increasing Applications in a Vast Range of Industries
4.2.1 Volatility in Availability and Price of Raw Material
4.3.1 Growing Demand for Bio-based PUR Hot Melt Adhesives
4.3.2 Innovative Product Development to Gain Competitive Edge
5. Market Segmentation and Analysis
5.1 By Type
5.2 By Application
5.2.4 Furniture (Woodworking)
6. Regional Market Analysis
6.1 United States
6.4 Rest of North America
7. Competitive Landscape
7.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
7.2 Market Share Analysis**
7.3 Strategies Adopted by Leading Players
8. Company Profiles (Overview, Financials**, Products & Services and Recent Developments)
8.1 3M Company
8.2 Arkema Group (Bostik SA)
8.3 Avery Dennison Corporation
8.4 BASF SE
8.6 Beardow & Adams (Adhesives) Ltd
8.7 Cattie Adhesive Solutions
8.8 Franklin Adhesives & Polymers
8.9 H. B. Fuller
8.10 Henkel AG & Co. KGaA
8.11 Huntsman International LLC
8.12 Illinois Tool Works Inc.
8.13 Jowat AG
8.14 KLEBCHEMIE M. G. Becker GmbH & Co. KG
8.15 L.D. Davis
8.17 Royal Adhesives & Sealants
8.18 Sika AG
8.19 Valco melton
8.20 Yokohama Industries Americas Inc.
*List Not Exhaustive
**Subject to Availability in Public Domain