The global PUR Hot melt adhesives market was valued at USD 949.82 million in 2015, and is projected to reach USD 1474.06 million by 2021, growing at a compound annual growth rate (CAGR) of 7.60% during the forecast period.
The global PUR hot melt adhesives market is segmented based on type - non-reactive and reactive; based on application - packaging; hygiene products; automotive; furniture; footwear; textile; electronics; bookbinding; and others (including printing, printed films, profile wrapping, shopping bag manufacture, foam and mattress fabrication); based on geography - North America; Europe; Asia-Pacific; South America and Middle-East & Africa.
The market is driven by numerous factors - growing demand from the packaging and electronics industries in the Asia-Pacific region, increasing industrial applications, are a couple worth mentioning. In Asia-Pacific, China led the market with a share of 47.84% in terms of consumption in 2015. Improvement in the financial status of consumers, rise in their purchasing power, and a changing lifestyle pattern (food consumption pattern in particular) are factors boosting the demand for PUR hot melt adhesives.
Some of the major companies dominating this market for their products, services, and continuous product developments 3M (US), Sika AG (Switzerland), Avery Dennison (US), Arkema Group (Bostik SA) (France), Jowat Adhesives (US), DIC Corp. (Japan), Henkel AG & Co. KGaA (Germany), H.B. Fuller (US), and Dow Chemicals (US), among others.