Market Research Report
Europe Hot-melt Adhesives Market - Growth, Trends, and Forecast (2019 - 2024)
|Published by||Mordor Intelligence LLP||Product code||354515|
|Published||Content info||150 Pages
Delivery time: 2-3 business days
|Europe Hot-melt Adhesives Market - Growth, Trends, and Forecast (2019 - 2024)|
|Published: April 1, 2019||Content info: 150 Pages||
The European market for hot-melt adhesives is expected to register a CAGR of 5.52%, by revenue, during the forecast period (2019-2024). Major factors driving the market studied are the increasing demand from the automotive industry and the packaging sector. The financial crisis in countries, such as Russia and France, is expected to hinder the growth of the market studied.
Rising Demand from Paper, Board & Packaging
Germany to Dominate the Market
Germany dominated the European market share, in 2018. The automotive industry is the largest sector in Germany, which accounts for 20% of the total German industry revenues. The public consumption of hot-melt adhesives has increased by 0.5%, supported by the growth of the automotive, electronics, energy and power, pharmaceutical, and chemical industries. Consumption growth is expected to add value to the market in Germany. At present, the public consumption of goods and services has increased significantly, with an increase in purchasing power. The market is expected to witness significant growth during the forecast period, owing to an increase in the use of hot-melt adhesives, with demand coming from both domestic and international clients. The construction sector in Germany accounted for about 3.3% of the GDP. The residential market segment is expected to have moderately high growth. The furniture industry is also showing positive growth rates. The packaging industry has higher market potential, with increasing demand from consumers. The aforementioned factors are contributing to the increasing demand for the consumption of hot-melt adhesives in the region, during the forecast period.
In the European hot-melt adhesives market, more than 50% of the market is dominated by the top five players. The key players include Henkel AG & Co. KGaA, followed by HB Fuller, Arkema (Bostik), Sika AG, and 3M Company.