Polyester Hot Melt Adhesives Market Expected to Explode
With the boom in the packaging industry, the demand for polyester hot melt adhesives is increasing rapidly around the world. Indeed, these adhesives are widely used in packaging applications, due to their high stability and temperature resistance. In addition, the expansion of the packaged food and beverage industry, due to the increasing popularity of packaged food, dairy products, bottled water and fruit juices, is positively impacting demand. world of polyester hot melt adhesives.
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These adhesives are also widely used in the packaging of medial bands, dressings and dressings. Besides the boom in the packaging industry, the growing demand for lightweight automotive materials is also driving the demand for polyester hot melt adhesives around the world. Traditionally, the automotive industry relied heavily on mechanical fasteners such as welds, bolts and nuts for bonding automotive components and parts. However, nowadays, the popularity of these materials is declining rapidly.
Due to the above-mentioned factors, the sales of polyester hot melt adhesives are increasing strongly across the world, which in turn is driving the growth of the global polyester hot melt adhesives market. As a result, the market value is expected to grow from $ 473,057.2 thousand in 2019 to $ 717,152.6 thousand by 2030. The market is also expected to grow at a CAGR of 5.3% from 2020 to 2030.
Globally, the polyester hot melt adhesives market will show the highest growth rate in the Asia-Pacific (APAC) region in the coming years, according to forecasts by P&S Intelligence, a market research company. based in India. This will be explained by the increase in investments made in the industry in developing countries such as India, China, Thailand and Vietnam. In addition, China is a manufacturing center and one of the largest exporters of electrical and electronic components in the world.
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Therefore, the demand for polyester hot melt adhesives will increase tremendously in the years to come, mainly due to their increasing use in packaging applications, the growth of the packaging industry and the growing needs. in light automobiles around the world.
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About P&S Intelligence
P&S Intelligence is a provider of market research and consulting services addressing the market information needs of growing industries around the world. Providing the bedrock of market intelligence, P&S as an enterprising research and consulting company, believes in providing in-depth landscape analyzes on the ever-changing market scenario, to enable companies to make informed decisions. and to base their business strategies with astuteness.
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