The globalhot melt adhesivesmarket is anticipated to expand at a moderate compound annual growth rate (CAGR), according to “Hot Melt Adhesives Market: Global Industry Analysis and Opportunity Assessment 2015-2020,” a report from Research and Markets.

Market growth is mainly driven by technological advancements and product innovations in polymer bases. The global hot melt adhesives market is valued at $5.4 billion in 2015 in terms of value.

The global hot melt adhesives market has been segment into seven major regions: North America, Western Europe, Asia Pacific Excluding Japan (APEJ), Japan, Eastern Europe, Latin America and the Middle East and Africa. Of all the regions, North America reportedly dominated the market, with more than 30% of the total market share in 2015. Western Europe is ranked second with more than 18% market share in 2015.

Asia Pacific is anticipated to become the fastest growing region in the global hot melt adhesives market. Eastern Europe and the Middle East and Africa together accounted for 15% of the total market share in 2015, and are expected to witness a steady growth during the forecast period.

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