Hot melt adhesives (HMAs) are adhesives that melt or cool according to their applications. They are devoid of volatile organic compounds (VOCs), giving them an advantage over solvent-based adhesives. HMA applications include woodworking, cardboard packaging, and profile wrapping.
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Size of the California hot melt adhesives market was 105.11 million lbs in 2014. It expects to achieve a target of 131.3 million lbs by 2022, at a CAGR of around 2.8% from 2015 to 2022 (forecast phase). Substituting conventional fasteners with hot melt technology for disposable, pressure sensitive, and packaging products will be a turning point for the market. The market is projected to attain about USD 159.2 million by 2022.
HMAs like styrenic block copolymers (SBCs), ethylene vinyl acetate (EVA), and polyolefins are used in industrial applications. Adhesives constitute 26 lbs of a car and reduce its overall weight.
California, U.S. has passed several amendments for the growth of the manufacturing sector. Individual packaged goods would propel the demand for adhesives in packaging and labeling industries. Volatile petrochemical prices and disposability & environmental concerns regarding HMAs are challenges faced by the California hot melt adhesives market.
Market products consist of EVA, SBCs, polyamide, polyurethane (PU), polyolefin, and others. EVA was the leading product in 2014 and accounted for more than 37% of the overall volumes. It has an expectant growth rate of 3.1% during the next seven years. PU accounted for 13.5% of the total volumes in 2014, and would record around 3.5% CAGR in the forthcoming years. It is estimated to have more preference owing to flexibility in curing and setting times.
Applications of the California hot melt adhesives market comprise packaging, bookbinding, furniture, disposables, automotive, construction, and pressure sensitive products. Packaging accounted for 29.1% of the total volumes in 2014. Demand for individual packaged goods will also further the market. Disposables will remain the fastest growing application in the forecast phase.
Migrant population and increasing birth rate are accountable for the expansion of this application. Competitors in the California hot melt adhesives market include 3M Company, Henkel AG, Pacific Adhesives Company, American Standard Adhesives, and Wisdom Adhesives Worldwide.
Information Source: Grand View Research