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Hot Melt Adhesives Market 2022 Global Opportunity, Analysis, Size, Share Forecast till 2027
The global hot melt adhesives market size is expected to reach USD 9,702.2 million by 2027, exhibiting a CAGR of 5.3% during the forecast period. The growing need for advanced products coupled with favorable government policies are factors expected to aid expansion of the global market, states Fortune Business Insights, in a report, titled “Hot Melt Adhesives Market Size, Share & COVID-19 Impact Analysis, By Raw Material (Ethylene Vinyl Acetate (EVA), Polyolefin, Styrenic Block Copolymers (SBC), Polyurethane (PU), Polyester, and Others), By Application (Packaging, Assembly, Woodworking, Transportation, Building & Construction, Footwear & Leather, Nonwovens, Bookbinding, and Others), and Regional Forecast, 2020-2027.” The market size stood at USD 6,745.2 million in 2019.
Market Driver:
Increasing Application of Hot Melt Adhesives to Enable Speedy Expansion
The increasing application of HMAs owing to its advantages such as high productivity induced by process automation, a wide variety of applicability, eco-friendliness, and re-adhesion possibility will have a tremendous impact on this market. The shift from solvent-based adhesive or water-based adhesive to hot-melt adhesive owing to its high-speed adhesion will spur demand in the forthcoming years. For instance, during solidification, HMAs do not lose thickness, whereas solvent-based hot melt adhesives can lose up to 50-70% of layer thickness during the drying process. Moreover, its high efficacy reduces the amount of material used, thereby resulting in low labor costs. The hot-melt adhesive exhibits significant advantages compared to conventional solvent-based adhesives that typically require evaporation and removal of solvents or polymerization to bind substrates together. Hence, the growing utilization of HMA in end-use industries will positively foster the market's healthy growth.
Browse In-depth Summary of This Research Insight@
https://www.fortunebusinessins....ights.com/industry-r
Shortage of Workers to Retard Business Development amid Coronavirus
A temporary halt on operations has negatively impacted the global market. The automotive industry experienced a massive hit due to the disruption caused by the coronavirus. For instance, PSA, Renault, and Fiat Chrysler closed their production at their manufacturing plants. Renault halted manufacturing through 12 production sites affecting about 18,000 workers in France. Similarly, the construction industry was destructively impacted by the pandemic. However, high government spending on infrastructure and affordable housing for residents is expected to stabilize the hot melt adhesives market growth in the near future.
Competitive Landscape:
Capacity Expansion of Key Players to Boost Market
The global market is dominated by key players Henkel AG & Co. KGaA, 3M, H.B. Fuller Company, Bostik, Sika AG, Arkema Group, and Dow Inc. Prominent companies in the market are focused on expanding their production capacities to strengthen their position in the market. Moreover, key players accentuate on improving their distribution network to gain a competitive advantage in the market.
Regional Analysis:
Booming Construction Industry to Consolidate Market in Asia Pacific
The market size in Asia Pacific stood at USD 3,138.3 million in 2019. Asia Pacific is expected to dominate the global hot melt adhesives market share during the forecast period. The increasing use of hot melt adhesives in emerging economies such as India, Japan, and China will favor the market in the region. The furniture and building industries are expected to contribute significantly to the growth of the market. The heavy investment in infrastructure is likely to create lucrative opportunities for the market in Asia Pacific. The rapidly expanding packaging industry will spur demand for HMA, thus aiding the market growth in Asia Pacific.
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Metalworking Fluids Market Trends, Issues, Challenges, Forecasts, Competition Analysis, and Companies involved.
As per a published report by Fortune Business Insights™ The global metalworking fluids market size is projected to reach USD 11.60 billion by the end of 2027. The increasing investments in the research and development of low cost and efficient products will have a huge impact on the growth of the market. According to a report published by Fortune Business Insights, the market was worth USD 10.25 billion in 2019 and will exhibit a CAGR of 4.3% during the forecast period, 2020-2027.
Metalworking fluids are used in heavy machinery and equipment to reduce the friction between two surfaces. The ability of these fluids to reduce the overall heat produced when in use, will contribute to the growing demand for the product across the world. The increasing investments in the research and development of efficient products will emerge in favor of the growth of the overall market in the coming years.
The increasing adoption of heavy machinery and equipment, driven by the rising industrial production and manufacturing units across the world will aid the growth of the market. The presence of several large scale manufacturers in this sector will also contribute to the growth of the overall metalworking fluids market in the foreseeable future.
Shutdown in Manufacturing Units will have a Negative Impact on Manufacturers during the Covid-19 Pandemic
The rapid spread of the coronavirus in several countries across the world has had a negative impact on several manufacturing units across the world. Due to the strict measures implemented by governments across the world, manufacturing units have come to a standstill. Due to social distancing practices, there has been a shortage in man power and labor across the world. This has had an adverse effect on manufacturers in the metalworking fluids sector across the world. Accounting to the adverse effects of the pandemic on the market, companies might look to implement newer strategies once the pandemic is over, with the aim of recovering the economic losses.
Company Mergers and Acquisitions are an Increasing Trend Among Industrial Manufacturing Companies and Fluid Manufacturers
The report encompasses several factors that have contributed to the growth of the overall market in recent years. Accounting to the massive demand for metalworking fluids across the world, there have been several company mergers and acquisitions in recent times. Due to healthy market competition, large scale companies are looking to acquire start-ups as well as SMEs with the aim of establishing a stronghold in the market. In August 2020, Quaker Chemical Corporation announced that it has completed the acquisition of Lubricor Inc. The latter is a manufacturer of and metalworking fluids that have been categorized for use in industrial machinery and equipment. This acquisition will not just help the company grow but will also influence the growth of the overall market in the coming years. The report highlights a few other company mergers of recent times and discusses their impact on the global market.
Asia Pacific to Emerge Dominant; Increasing Manufacturing Units to Emerge in Favor of Market Growth
The report analyses the ongoing market trends across five major regions, including North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Among all regions, the market in Asia Pacific is projected to emerge dominant in the coming years. The increasing number of industrial manufacturing units in countries such as India and China will have a massive impact on the growth of the regional market. The presence of several large scale metalworking fluids manufacturers in these countries is consequential to the increasing demand for several resources. This is mainly attributable to the increasing population across the region. As of 2019, the market in Asia Pacific was worth USD 4.11 billion and this value is projected to rise at a considerable pace in the coming years.
Industry Developments:
July 2016: Houghton International Inc., a subsidiary of Hinduja Group, announced that it has acquired Wallover Enterprises. The company is a manufacturer based in Ohio.
Source: https://www.fortunebusinessins....ights.com/industry-r
Ready Mix Concrete Market Size, In-Depth Qualitative Insights, Explosive Growth Opportunity, Regional Analysis by Fortune Business Insights
The global ready-mix concrete market is expected to gain traction from the crucial efforts undertaken by prominent manufacturers to curb the emissions of greenhouse gases (GHG). To do so, they are frequently surging the percentage of additives in ready-mix concrete, such as slag or fly ash for improving energy efficiency and reducing the consumption of ordinary Portland cement. This information is given by Fortune Business Insights™ in a recent report, titled, “Ready-Mix Concrete Market Size, Share & Industry Analysis, By Application (Residential, Commercial, Infrastructure, and Others), and Regional Forecast, 2020-2027.” The report further mentions that this market size was USD 633.4 billion in 2019 and is projected to reach USD 1,227.2 billion by 2027, exhibiting a CAGR of 8.7% during the forecast period.
To get to know more about the short-term and long-term impact of COVID-19 on this market,
please click: https://www.fortunebusinessins....ights.com/ready-mix-
Drivers & Restraints-
Rising Investments in Construction Projects to Propel Growth
Several private and government organizations are increasingly investing in construction projects across the globe. These consist of the construction of commercial buildings, railroads, highways, power generation sector, real estates, bridges, and urban infrastructure. Apart from these, in the developing countries, such as South Korea, India, China, and Mexico, the agencies are investing hefty amounts of money in urbanization. It is further skyrocketing the demand for this concrete. The global construction industry is also expanding backed by the reduced labor cost and availability of plenty of equipment and tools. These factors are expected to boost the ready-mix concrete market growth in the near future.
Regional Analysis-
Increasing Demand for Single Housing Units to Drive Growth in North America
Geographically, Asia Pacific is anticipated to showcase substantial growth in terms of revenue during the forthcoming years. This growth is attributable to the rising demand for ready-mix concrete from South Korea, India, and China. Also, the increasing construction of new manufacturing plants and rapid development of infrastructures in these countries would contribute to the market growth in this region.
North America, on the other hand, generated USD 164.4 billion in terms of revenue in 2019 and is set to exhibit steady growth in the coming years. This is projected to occur on account of the high demand for residential structures from the countries in this region. Besides, high disposable income and need for single housing units in the region would spur growth.
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