Market Research Report
Europe PUR Hot-melt Adhesives Market - Growth, Trends, and Forecast (2019 - 2024)
|Published by||Mordor Intelligence LLP||Product code||357585|
|Published||Content info||100 Pages
Delivery time: 2-3 business days
|Europe PUR Hot-melt Adhesives Market - Growth, Trends, and Forecast (2019 - 2024)|
|Published: April 1, 2019||Content info: 100 Pages||
The market for European PUR hot-melt adhesives is expected to grow at a CAGR of 6.75% during the forecast period of 2019 - 2024. A major driver for the market study identified in this report is the increase in demand from the packaging and electronic sectors. The financial crisis in Russia might hinder the growth of PUR hot melt adhesives.
Increasing Demand of Woodwork and Joinery (Furniture)
Germany to Dominate the Market
Germany recorded a significant GDP growth rate of 2.0% 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. The German economy has, in recent years, recovering from crises that plagued its industrial sectors. 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 construction market segment was expected to experience a moderately high growth rate of around 7% in 2017. Subsequently, the furniture industry is also showing positive growth rates. The packaging industry has a higher market potential with growing demand from consumers, which in turn, is expected to drive the consumption of PUR hot-melt adhesives during the forecast period.
The European PUR hot melt adhesive market is semi consolidated, with top five players accounting 50% of the market. The major companies include Henkel AG & Co. KGaA, H.B. Fuller, 3M, Arkema, and Sika AG.