The spending power in developing countries is increasing rapidly on account of rapid urbanization and industrialization. Countries including Indonesia, China, and India are registering significant economic growth, which is taking place due to the rising per capita income. Because of this, the demand for products including electronics, clothes, and footwear is also growing. These products make extensive usage of hot melt adhesives, which is why their requirement is increasing as well. Hot melt adhesive, or hot glue, is a thermoplastic adhesive that is applied using a hot glue gun. The adhesive is commonly sold as solid cylindrical sticks of different diameters and can also be applied by spraying or dipping. 

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As per a report by P&S Intelligence, in 2017, the global hot melt adhesives market generated a revenue of $7,353.1 million and is predicted to attain $10,259.7 million in 2023, registering a 5.7% CAGR during the forecast period (2018–2023). The various product types of hot melt adhesives are polyester, ethylene vinyl acetate (EVA), amorphous polyalphaolefins, polyurethane (PU), metallocene polyolefins, styrenic block copolymer, and polyamide. Out of these, the EVA type was utilized the most during 2013–2017 and is predicted to be the most in demand during the forecast period as well. The fastest growth in demand is expected to be witnessed by the PU type in the coming years.  

Bookbinding, electronics, automobile, textile, footwear, furniture, diapers, and packaging products are the key application areas of hot melt adhesives. Some other application areas include filter and floristry industry. Among these, the largest demand for hot melt adhesives was created for the packaging products application during 2013–2017 and the situation is projected to remain the same in the coming years as well. The fastest growth in demand for hot melt adhesives is expected to be registered by the furniture application, owing to the rising requirement of these products in the furniture industry for fulfilling the needs of the rising population in countries including Germany, India, and China. 

The shift from conventional assembly techniques to new automotive assembly techniques is projected to drive the demand for hot melt adhesives in the near future. In the past, fasteners or welds, which provided high strength and performance, were utilized for bonding different parts in the automotive industry. However, now with the growing need for lightweight vehicles that have increased fuel efficiency, the usage of lighter gauge metals, nonferrous metals, plastics, and coated steels is increasing in the industry. This is further creating rising demand for hot melt adhesives as they are increasingly being utilized for joining different parts of vehicles. 

Out of all the regions, namely Asia-Pacific (APAC), North America, Europe, and Rest of the World, Europe accounted for the major share of the hot melt adhesives market during 2013–2017, which is attributed to the high spending power of Europeans. The APAC region however is predicted to dominate the market by 2023, in terms of volume, advancing at the highest CAGR during the forecast period. This is ascribed to the increasing utilization of hot melt adhesives in different end-use industries such as packaging, electronics, and automotive.  

In 2019, there were 7.7 billion people on this earth, and this number is on path to increasing to 9.7 billion by 2050, as per the latest World Population Prospects report published by the United Nations Department of Economic and Social Affairs. More people mean more mouths to feed, because of which the population boom is putting immense pressure on farmlands, which are now expected to drastically increase their productivity. With time and repeated sowing and reaping cycles, the top soil erodes. Additionally, weed can also grow on the soil, and it might start losing nutrients.

Thus, to protect the soil for maximum agricultural yield, mulching is being practiced. It is a simple process, in which a film is applied over the soil to reduce erosion, weed growth, and nutrient loss. Therefore, with the increasing demand for food, the biodegradable mulch film market is expected to grow from $34,145.1 thousand in 2016 to $64,039.0 thousand by 2023, at a CAGR of 9.4% during 2017–2023 (forecast period). Earlier plastic was the film material of choice, but since it itself causes pollution, the use of eco-friendly variants is being promoted.

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Biodegradable mulch films are made from starch, polylactic acid, and polyhydroxyalkanoate. Among these raw materials, films made from starch have found the widest application till now, on account of the low cost of the raw material, along with its numerous advantages, such as environment sustainability and compatibility with different types of soil. In addition, starch is easily available, which makes it extremely easy to make mulch films out of it. Further, with starch-based mulch films, the growth of weeds can be better controlled, the structure of the soil can be improved, and soil can be protected from becoming contaminated.

These films are used for the farming of flower & plants, grains & cereals, and fruits & vegetables, among which the cultivation of fruits And vegetables accounts for the highest mulching usage, owing to their high consumption. As per Ministry of Agriculture and Farmers Welfare of India, horticulture production in India, which includes the cultivation of vegetables and fruits, increased by 4.8% during 2017–18. Thus, with the growing production of fruits and vegetables, the demand for biodegradable mulch films will increase too.

Much of the population rise is being witnessed in emerging economies, which means that the demand for food will also rise the sharpest in these countries. This is why companies providing mulch films can increase their presence in these nations to make quick money. Except the U.S., all the top 10 most populated countries are in the developing phase: China, India, Indonesia, Pakistan, Brazil, Nigeria, Bangladesh, Russia, and Mexico. Being emerging economies, a lot of these countries are also predominantly agrarian, which means that for anyone who wants to invest in the agricultural sector, opportunities in developing countries are aplenty.

Not surprisingly, the largest biodegradable mulch film market is Asia-Pacific (APAC), which is the most populated region on earth; it is home to India and China, the only two countries with over a billion people! It is easy to imagine, but difficult to gauge, the actual demand for food products in these nations and the rising expectations from farmlands, in terms of high productivity and quality produce. Within APAC, China is the largest user of the mulching technique, owing to its vast agricultural landscape and huge population.

Thus, with the need for increasing the yield from farmlands, the use of biodegradable mulch films will keep growing.

Around 4.3 billion, or 60% of the global population, is concentrated in Asia-Pacific (APAC), says the United Nation Population Fund (UNFPA). This number is increasing rapidly, especially in China, India, South Korea, Japan, and Thailand. With population boom, the demand for food and beverages, pharmaceutical products, electronic gadgets, and everything else is surging. This is why the requirement for various packaging materials and products is consistently high at manufacturing plants. Now, an important aspect of packaging is the labels, which carry the product information, such as the manufacturing and expiry dates, batch number, ingredients, net quantity or weight, and price.

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Hence, with the increasing demand for packaging, the APAC printing inks market is expected to grow from $5,344.1 million in 2017, to $7,000.2 million by 2023, at a CAGR of 4.6% during 2018–2023 (forecast period). This is also why among commercial printing, labels and packaging, and publication, labels and packaging has witness the heaviest consumption of printing inks. A key trend in the packaging niche these days is the usage of flexible packaging, majorly for processed food and beverages and pharmaceutical items. Such packaging includes pouches, bags, liners, paper, film, plastic, and aluminum foil, the shape of which can be readily change.

With the increasing popularity of this technique, the consumption of flexographic inks is rising faster than lithographic, gravure, digital, letterpress, fluorescent, magnetic, and metallic inks. This is because flexographic inks offer a large number of advantages over other materials, such as the ability to print in a wider range of colors and convenience of being used as oil-based as well as water-based formulations. Additionally, with these inks, the printing process becomes faster and non-absorbent material can be printed on. Oil is already the most popular formulation of these inks, which also includes solvent and water formulations, thereby further resulting in the preference for the flexography variants.

China is currently the largest APAC printing inks market, owing to its heavy usage of such materials, with the growth in the paper media and packaging sectors. Further, with the increasing literacy rate and urbanization levels, the demand for printing inks is rising further in the country. Another reason, perhaps the most important one, behind the high demand for such materials in China is the fact that it is the most-populated country in the APAC region, which naturally leads to a high requirement for various products.

In the coming years, the demand for packing solutions, and, in turn, inks, is expected to surge considerably in Indonesia and India, apart from China. This would be a result of the increasing number of people from rural areas making their way to cities in search of employment and a better life. The World Bank says that compared to 17.924% in 1960, 34.03% people in India were city dwellers in 2018. Echoing this finding, Ministry of Housing and Urban Affairs estimates the level of urbanization in Delhi at 97.5%.

Therefore, as more people move to the cities and their disposable income increases, so will the requirement for packaged products, which would drive the consumption of printing inks in APAC.