PUR hot melt adhesives are solvent-free, solid compounds with negligible or no VOCs (volatile organic compounds) when compared to solvent-based adhesives. They are characterized by high temperature and moisture resistance, excellent flexibility and the ability to bond with a wide range of materials, such as metals, plastics and wood. These features make them suitable for a majority of the commercial and industrial applications. The different application segments taken into consideration in this report are hygiene products, automotive, furniture, packaging, footwear, electronics, textile and bookbinding among others.
The market is driven by number of factors, such as the growing demand from packaging and electronics industry and PUR hot melt adhesives increasingly substituting other adhesives technologies. On the flipside, the dearth of usage in Asia-Pacific is a major factor impeding the market growth.
The Asia-Pacific PUR hot melt adhesives market has been segmented based on type into reactive and non-reactive. The market has also been segmented based on geography into China, India, Japan, South Korea, Australia and New Zealand, ASEAN countries, and the rest of Asia-Pacific.
China led the market with a share of 47.84% in terms of consumption in 2015. With improvement in the financial status of the consumers, the rise in purchasing power, changing lifestyle, food consumption pattern in particular, are boosting the demand for automobiles, packaged food products, hygiene products and electronic goods, which in turn make the region an area of immense potential and opportunities for PUR hot melt adhesives.
The growth of the market is restrained by the premium pricing of PUR hot melt adhesives. Additionally, the level of consumer awareness in countries, such as India and China, regarding the PUR hot melt adhesives products, is still lagging behind its Australian, European and North American counterparts. This has resulted in lower market penetration of PUR hot melt adhesives solutions. This is despite India and China being the two biggest consumer markets for overall adhesives with the presence of research facilities dealing with newer PUR hot melt adhesives product innovations.
The rising demand for bio-based PUR hot melt adhesives products and other innovative product developments are expected to offer numerous opportunities in the growth of the Asia-Pacific PUR hot melt adhesives market. Some of the major companies dominating this market are M, Sika AG, H.B. Fuller, Henkel AG & Co. KGaA, Arkema (Bostik), Jowat AG, and Huntsman Corporation.
PUR glues are a recent development for perfect binding, which is largely different from the EVA and SBR (styrene butadiene rubber) hot melts. They polymerize when applied and form much stronger bonds than traditional hot melts. They also possess superior flexibility and can withstand a larger range of temperatures. They are expensive than traditional EVA hot melts (2-4X) but application rates are much lower. Transitioning to reactive hot melt polyurethane (PUR) offers companies a way to stay relevant and competitive.
There is less control on the consumption of high VOC adhesives in China and India, due to the absence of related government policies. Market players are keen to expand their product portfolio to offer innovative products to consumers at competitive prices. The major market players are focusing on R&D activities to innovate products under the regulations of EPA and REACH. Other development strategies opted by market players include signing agreements and collaborations to optimize their distribution chain in growing economies.
Market analysis for the Asia-Pacific PUR Hot Melt Adhesives market, with country specific assessments and competition analysis on regional scale
Market definition along with the identification of key drivers and restraints
Identification of factors instrumental in changing the market scenarios, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale
Extensively researched competitive landscape section with profiles of major companies along with their market shares
Identification and analysis of the macro and micro factors that affect the Asia-Pacific PUR Hot Melt adhesives market on both regional and national scales
A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information
A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market
Insights on the major countries in which this industry is blooming and to also identify the regions that are still untapped.
1.2 Research Methodology
2. Executive Summary
3. Asia-Pacific PUR Hot-Melt Adhesives Market
3.2 Industry Value Chain Analysis
3.3 Industry Attractiveness Porters Five Force Analysis
3.3.1 Bargaining Power of Suppliers
3.3.2 Bargaining Power of Consumers
3.3.3 Threat of New Entrants
3.3.4 Threat of Substitute Products and Services
3.3.5 Degree of Competition
4. Market Dynamics
4.1.1 Increasing Applications in a Numerous Industries
4.1.2 Growing Demand from Packaging and Electronics Industry
4.1.3 Substituting Other Adhesives Technologies
4.2.1 Dearth of Usage in Asia-Pacific
4.3.1 Rising Demand for Bio-based PUR Hot Melt Adhesives
4.3.2 Innovative Product Development
5. Market Segmentation
5.1 By Type
5.2 By Application
5.2.2 Hygiene Products
5.2.4 Furniture (Woodworking)
6. Regional Market Analysis (Market Size, Forecast and CAGR)
6.4 South Korea
6.6 Australia and New Zealand
6.7 ASEAN Countries
6.8 Rest of Asia-Pacific
7. Future of the PUR Hot Melt Adhesives
8. Competitive Landscape
8.1 Mergers & Acquisitions
8.2 Joint Ventures, Collaborations and Agreements
8.3 Market Share Analysis
8.4 Strategies Adopted by Leading Players
9. Company Profiles (Overview, Financials, Products & Services, Recent Developments)
9.1 3M Company
9.2 Arkema Group (Bostik SA)
9.3 DOW Chemical Company
9.5 Franklin International
9.6 DIC Corp.
9.7 H.B. Fuller Co.
9.8 Henkel AG& Co. KGaA
9.9 Huntsman Corp.
9.10 ITW Performance Polymers & Fluids (Illinois Tool Works Inc.)
9.11 Jowat Adhesives
9.12 Lord Corp.
9.13 TEX Year Fine Chemicals
9.14 Sika AG
(list not exhaustive)