REACTIVE HOT MELT ADHESIVES MARKET ANALYSIS

Reactive Hot Melt Adhesives MarketSize and Trends

Reactive hot melt adhesives are mainly used for assembly works and reinforcement of decorative edging. These adhesives further aid in joining of other materials with wooden surface and enhance the structural bonding of wood. Reactive hot melt adhesives find their applications in various end-user industries such as textile automotive, packaging, footwear, and others.

Market Outlook

• The global reactive hot melt adhesives market has witnessed significant growth in the recent past, owing to growth of various end-user industries such as furniture, automotive, and packaging in emerging economies According to the Indian Brand Equity Foundation (IBEF), India was fourth largest automobile market and seventh largest manufacturer of commercial vehicles in 2018 with a 8.3% growth in sales. Changing lifestyle and surge in demand for convenient and packaged food products among consumers has provided lucrative growth opportunity for players in the packaging industry. According to the Agricultural & Processed Food Products Export Development, the convenience food market in India was estimated around 20 billion by the end of 2017. This scenario is expected to increase demand for reactive hot melt adhesives from the packaging industry globally during the forecast period.