Polyester Hot Melt Adhesives Industry Predicted to Boom in Asia-Pacific in Coming Years

Published on March 3 2021 by Aryan

The global polyester hot melt adhesives market reached a valuation of $473,057.2 thousand in 2019 and is predicted to generate a revenue of $717,152.6 thousand by 2030. The market will exhibit a CAGR of 5.3% between 2020 and 2030. The factors driving the progress of the market are the surging usage of polyester hot melt adhesives in the packaging industry and the growing requirement for these materials in the automotive industry.

Polyester hot melt adhesives are used as bonding solutions in packaging applications, on account of their high temperature resistance and high stability. Moreover, with the expansion of the packaged food and beverage industry all over the globe, because of the mushrooming sales of bottled water, packaging food, dairy products, and fruit juice, the demand for polyester hot melt adhesives is rising sharply. Additionally, the increasing consumption of various food products is propelling the requirement for these adhesives around the world.

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Depending on application, the polyester hot melt adhesives market is divided into packaging, industrial assembly, heat seal coating, electrical and electronic component manufacturing, and textile lamination. Out of these, the industrial assembly category is predicted to register the highest growth in the market in the forthcoming years. Many industrial manufacturing companies are increasingly preferring using these adhesives over the conventional mechanical fasteners, on account of their ability to reduce the overall weight of machines, automobile vehicles, and equipment.

Hence, it is quite clear that the market is set for lucrative growth across the world in the upcoming years, primarily because of the increasing usage of polyester hot melt adhesives in the automotive and packaging industries and the explosive growth of these industries all over the world.