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Hot Melt Adhesives Market Expected to Grow 6% Annually Through 2024

 

Hot-Melt Adhesives

According to a Q4, 2017 report from Global Market Insights, the global hot melt adhesives market is forecasted to record an annual growth rate of more than 6% through 2024.

Hot Melt Adhesive (HMA) is gaining considerable traction with the growing need for high standard performance adhesives across various industries. Also known as hot glue, provides optimal hold & superior manufacturing flexibility. In industrial applications, HMA provide several advantages over waterborne or solvent based adhesives.

Other benefits offered by HMA include:

  • Longer shelf life
  • Quick drying
  • Increase throughput in production
  • Easy disposal

Each of the above have significantly driven the product demand. A $5.5 billion market in 2015, hot melt adhesives are projected to surpass $10 billion by 2024.

For more information on the report, check out Market Insider.

To access the full report from GMI, click here.

To learn more about hot melt adhesives from Evans Adhesive, contact us and request a free sample today.