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The small-scale Transport Recruit Sydney and Transport Sanctions provide a variety of mentorship and contract transportation options. Small Transport Recruit Sydney offers an administration of contracts for transport for gatherings or work. There is the option to talk with and be taken on a tour by experienced guides and drivers. The only other transportation rental company offers such a wide range of assistance or supervises such a huge numbers of school transportations for… Continue

Hot Melt Adhesives Market Insights, Key Players, Growth and Forecast Report, 2030

The Reserve Bank of India states that the per capita gross national income and per capita net national income (NNI) surged from INR 1,41,439 crore in the financial year (FY) 2018–2019 to INR 1,50,025 crore in FY 2019–2020 and INR 1,26,521 crore in FY 2018–2019 to INR 1,34,226 crore in FY 2019–2020, respectively in India. Further, the Census and Economic Information Center (CEIC) estimates that the per capita national income of Indonesia increased from IDR 38,325,249.839 in 2017 to IDR 40,916,368.165 in 2018.

The surging per capita income has caused a massive rise in the adoption of electronics, clothes, and footwear in the emerging economies, such as India and Indonesia, owing to which the hot melt adhesives market will grow at a CAGR of 6.1% during 2020–2030. According to P&S Intelligence, the market was valued at $7,717.0 million in 2019 and it will reach $12,761.3 million revenue by 2030. Additionally, the expanding packaging sector, on account of the rising demand for packaged edible items and the flourishing e-commerce industry, will also catalyze the market growth globally.

Besides, the increasing penetration of EVs, owing to the worsening air quality, will also create a huge requirement for hot melt adhesives in the forthcoming years. In recent years, EV manufacturers have shifted from conventional automotive assembly techniques to advanced techniques, owing to which the consumption of such chemicals has increased exponentially. Amorphous polyalphaolefin (APAO), ethylene vinyl acetate (EVA), metallocene polyolefin (MPO), polyamide (PA), polyester, polyurethane (PU), and styrenic block copolymer (SBC)-based hot melt adhesives are widely used in the automotive sector to facilitate the assembly process.

The application segment of the hot melt adhesives market is classified into automotive, bookbinding, diaper, electronics, footwear, furniture, packaging, textile, and others, such as health care and building and construction. Among these, the packaging category will generate the highest revenue during the forecast period due to the booming demand for packaged food and beverages and the flourishing pharmaceutical sector. Whereas, the furniture category is projected to exhibit the fastest growth throughout the forecast period, owing to the surging furniture demand in India, Germany, and China, on account of the growing population in these countries.

In recent years, hot melt adhesive producers have engaged in mergers and acquisitions to offer their products to a greater number of customers. For instance, in July 2020, Arkema Group laid down its plan to acquire Fixatti NV, a thermobonding adhesive powder manufacturing company, to strengthen its product portfolio and march toward its aim of becoming a pure specialty material provider by 2024. Other enterprises undertaking mergers and acquisitions are Henkel AG & Co. KGaA, Beardow & Adams (Adhesives) Limited, Huntsman Corporation, and DuPont de Nemours Inc.

Globally, Asia-Pacific accounted for the largest share in the hot melt adhesives market in 2019, owing to the presence of manufacturing hubs in India, Japan, South Korea, and China. Moreover, the rapid shift of manufacturing industries from western nations to APAC countries, on account of the availability of cheap raw materials and cost-effective labor, is facilitating the market growth in the region. Additionally, the region is also expected to display the fastest growth in the forecast period due to the mounting per capita income and burgeoning population.

Therefore, the escalating per capita income, growing packaging industry, and soaring EV sales will accelerate the consumption of hot melt adhesives in the foreseeable future.

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