Acrylic Resin Hotmelt Adhesive Agent Market Analysis By Industry Size, And Share, Manufacturers, Demand Forecast 2025
Global acrylic resin hotmelt adhesive agent market stood at around $ 191 million in 2019 and is projected to surpass $ 227 million by 2025, predominantly on account of growing demand from the global automotive industry. Hotmelt adhesive, also known as hot glue, is a form of thermoplastic adhesive, which is commonly sold as solid cylindrical sticks of various diameters, designed to be applied using a hot glue gun. Other major demand generators of acrylic resin hotmelt adhesive agent include medical and construction sectors. Moreover, food & beverages companies are increasingly focusing on sustainable packaging, which offers high shelf-life, especially in case of ready-to-eat food/beverages. Therefore, adhesives and tapes are manufactured using acrylic hotmelt resins as they exhibit resistance to humidity and moisture, which helps maintain the uncontaminated state of food, thereby increasing shelf-life. Such change in packaging patterns is anticipated to back the market g...