In recent years, there has been a considerable expansio […]
In recent years, there has been a considerable expansion of hot melt adhesives market size owing to the burgeoning demand across automotive production, electronics packaging and footwear applications. With increasing disposable income globally, the packaging industry has grown at a rapid pace owing to the higher consumption for consumer electronics and lifestyle products such as cosmetics and perfumes.With gradually booming global economy, there has been a notable growth of the construction industry in developing countries like India.
This would offer substantial opportunities for the expanding furniture sector through the emergence of new residential and commercial buildings. Moreover, increasing number of renovations and refurbishment projects worldwide is further offering lucrative growth opportunities for furniture makers, fueling hot melt adhesives market outlook.Hot melt adhesives are widely used in the manufacturing of car seats, carpets and headliners, batteries, radiators and transmitters. Versatile performance, lightweight bonding, durability and fast adhesion are some of the vital characteristics propelling hot melt adhesives market size.
An increasing number of interior designing projects owing to higher spending on lifestyle enhancements worldwide is magnifying the demand for furniture. Additionally, with the rise in commercial infrastructure the demand for robust and long-lasting furniture is rapidly increasing. In developing countries. there has been a rise in furniture sales mainly due to the increase in tourism in the country which is supporting the hospitality sector.Hot melt adhesives are used in the production of mattresses, edge banding, foam bonding, panel lamination and woodworking in the furniture sector. These adhesives exhibit high thermal stability that facilitates less time-consuming precision during production.
Growing industrialization and FDI in emerging nations like India has driven the employment levels and a surge in the disposable income among people. According to data, by 2023 the per capita of India is projected to surpass. A rise in income levels leads to an increase in demand for packaged food products, strengthening the global packaging sector.Government regulations pertaining to the use of adhesives in food packaging could also impact the global hot melt adhesives industry forecast. The Food and Drug Administration in the United States requires the adhesives in food packaging and labeling to carry premarket clearance to ensure that the chemical from the adhesive does not harm the nutritional value of the food.
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