欧州・中東・アフリカのホットメルト接着剤市場 - 成長、動向、予測（2019年～2024年）
Europe, Middle East & Africa Hot-melt Adhesives Market - Growth, Trends, and Forecast (2019 - 2024)
|欧州・中東・アフリカのホットメルト接着剤市場 - 成長、動向、予測（2019年～2024年）|
発行: Mordor Intelligence LLP
ページ情報: 英文 140 Pages
The Europe, Middle-East & Africa hot-melt adhesives market is expected to witness a healthy growth, at an estimated CAGR of 5.95%, during the forecast period (2019-2024). The major factors driving the market studied are the increasing demand from the automotive and packaging industries and rising environmental concerns regarding solvent-borne adhesives. Volatility in the availability and price of raw materials is forcing internal substitutions and is expected to significantly hinder the growth of the market studied.
In 2017, ethylene vinyl acetate segment was estimated to have the largest share, with about 55 % of the Europe, Middle-East & Africa hot-melt adhesives market (in terms of revenue).
The healthcare industry is expected to witness the fastest CAGR in the market, of 6.35%, during the forecast period.
The adoption of bio-based hot-melt adhesives is likely to act as an opportunity for the market's growth in the future.
Increasing Demand from the Footwear and Leather Industry
Hot-melt adhesives are used for bonding the flat soles of running shoes, edge folding, and shoe upper bonding, among others. The ease with which they can be applied makes hot-melt adhesives extremely attractive to footwear manufacturers.
They find applications in shoe manufacturing and leatherwork, making sports equipment, apparel, accessories, etc.
Moreover, properties, such as excellent bond strength, and resistance to temperature and weather conditions, provided by these adhesives are important requirements for the footwear segment. The water resistance offered by hot-melt adhesives helps in its application in creating waterproof bonds between linings and insoles.
The European footwear industry is expected to display moderate growth, due to increased demand for sports footwear, sports equipment, and apparel (made up of leather). Along with this, the growing demand for more comfort, new models, and lifestyle trends, among others, are contributing to the demand in the footwear industry.
Countries, such as Germany and France, are expected to witness moderate growth in the demand for PUR hot-melt adhesives used for footwear purposes, while the United Kingdom is expected to exhibit positive growth, owing to the consistently rising footwear expenditure in the country.
Germany to Dominate the Market
Germany dominated the Europe, Middle East & Africa market in 2017. In 2017, the German automotive industry recorded a turnover of over EUR 400 billion, which was about 20% of the total revenue generated by the German industry. In Europe, Germany accounts for 30% of total passenger car manufacturing, and 20% of all new car registrations. 21 of the world's top 100 automotive suppliers are German companies.
Automotive production in the country has been declining over the past few years, due to the high cost and shifting of production to countries like China. Moreover, sales have also been growing at a slow pace. However, there is still a significant demand from the automotive aftermarket, which is expected to contribute to the consumption of hot-melt adhesives during the forecast period.
The application of hot-melt adhesives in car seats, cables in the roof li0ner, bonding door sill protectors, anchor plates, emblems, and other plastic parts, etc., is expected to create an increased demand for these adhesives, with the simultaneous growth of the automotive industry.
In Europe, Germany holds the largest healthcare market. The annual expenditure on health in the country is estimated to be more than EUR 350 billion, excluding fitness and wellness. With demographic changes and digitalization, the country has been investing in mobile healthcare facilities, which have provided a platform for the further expansion of the German healthcare sector.
Hence, with the growth of the automotive, healthcare, construction and building, and other sectors in the country, the demand for hot-melt adhesives is expected to witness growth in the country in the upcoming years.
The Europe, Middle East & Africa hot-melt adhesives market is a fragmented market, with numerous global and local players operating in the market. Major players in the market include Arkema Group (Bostik SA), Jowat SE, Sika AG, HB Fuller Co., and Henkel AG & Co. KGaA, among others