Market Trends of Polyurethane (PU) Hot-melt Adhesive Industry
This section covers the major market trends shaping the Polyurethane Hot Melt Adhesive Market according to our research experts:
Increasing Demand from the Packaging and Electronics Industries
- An extremely high proportion of industrial products are sold in packaging, either due to requirements demanded storage and transport or for aesthetic reasons. PU hot-melt adhesives are mainstream adhesives in the packaging industry.
- They are most widely used for carton closing, sealing, etc. The packaging industry represents one of the largest end-user industries in the PU hot-melt adhesives market.
- PU hot-melt adhesives draw moisture from the substrates and the atmosphere and cure to form a stronger bond compared to other adhesives, including water-based adhesives and other hot-melt adhesive formulations.
- Moreover, polyurethane hot melt offers a stronger adhesion and cures better than traditional hot-melts, which makes it a prudent choice in the growing industrial packaging industry.
- Perfumes, cosmetics, and beauty products are customarily packaged in transparent cases. These hot-melt adhesives are used to seal those packages that ensure a clear application and help in dispensing a perfect end product.
- Due to all the above mentioned factors the Packaging and Electrnincs industry are expected to drive the market studied in the upcoming years.
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Asia-Pacific Region to Dominate the Market
- Asia-Pacific region dominated the global market share. Asia-Pacific is also projected to register the highest growth during the forecast period, driven by strong growth of end-user industries, such as packaging, electronics, and automotive, through different countries, such as China, India, Malaysia, Thailand, and Indonesia.
- Polyurethane hot melt adhesives are used in wide range of applications ranging from automotive plastic components fixing, foam fixing, wire fixing, and other non-woven material fixing, corrugated boxes and paperboard cartons in the packaging industry, product assembly and laminating applications in the woodworking, Spine gluing in the bookbinding, footwear gluing, and various others.
- The Chinese automotive manufacturing industry is the largest in the world with over 26,082,220 units produced in 2021.
- The Chinese government has been planning to have a minimum of 5,000 fuel cell electric vehicles by 2025 and 1 million by 2030. With the government promoting the use of electric, hybrid, and fuel cell electric vehicles is expected to drive the market studied during the forecast period.
- In India the total automotive production was around 43,99,112 units in 2021 witnessing a 30% increase compared to last year. In recent times the demand for electric vehicles have been increasing which in turn is expected to boost the demand for the market in the country.
- Due to all the aforementioned factors the market is expected to see substantial growth in the upcoming years.
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