Market Overview:
Hot melt adhesives are formulations based on thermoplastic polymers that may be softened and reshaped on heating above their melting point. These adhesives are applied to the material in a liquid state and provide easy to clean utility with minimal toxicity. The foremost fashion witnessed within the automotive hot melt adhesives market is switching from conventional techniques to new assembly methods via vehicle manufacturers. Growth in industrial and passenger cars is predicted to force market boom for the duration of the forecast length.
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Market Dynamics:
High utilization in carpets and headliners to withstand high vibration
The hot-melt adhesive has found many car packages, which includes carpets, headliners, engines, transmission, radiators, batteries, seats, and plenty of extra. Many applications in vehicles require excessive warmth-resistant materials that could keep the elements collectively and preserve them for a long term. Carpets face movement push and high warmness each day, which require robust adhesion. Also, cargo and passenger motion makes it even greater difficult for the carpet to stick to the lowest. The headliner also faces excessive heat in arid areas, which in addition places pressure on the adhesive. In Arid climate areas, roof temperature reaches extra than normal and requires hot-melt adhesive to resist excessive temperatures. The vehicle frame is also fitted with a warm-melt adhesive that holds doorways and panels. In September 2019, Lecta launched a brand new Adestor Hot soften adhesive variety, which may be used in automobile, food, and packaging programs.
However, instability in raw materials’ value is the important restraint component limiting the worldwide car hot melt adhesives marketplace. The unstable cost of raw materials which include ethylene-vinyl acetate, thermoplastic rubber, polyolefin, and polyamide, among others, impacts the market’s growth in hot soften adhesives manufacturing.
Market Segmentation:
By Product Type
By Material Type
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Competitive Landscape:
The global automotive hot melt adhesives market is highly competitive with existing players in the market. 3M, Sika AG, H.B. Fuller, Avery Dennison Corporation are the leading market players with the prominent market size. Companies use different strategies such as portfolio expansion, product diversification, and new product launch to increase their market penetration.
The companies enter into collaborations, mergers, strategic partnerships, and acquisitions to increase the demand for automotive hot melt adhesives and their expansion. For instance, In June 2019, Jowat SE, a high-performance adhesive manufacturer, introduced PUR technology to manufacture hot melt adhesives. The process helps achieve HMA’s with effective long-term resistance, superior bond strength, and high heat resistance.
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