The global hot melt adhesive market was valued at $6 billion in 2015 and is anticipated to reach $9.44 billion by 2024, witnessing a CAGR of 5.2% between 2016 and 2024, according to a recent market report of Transparency Market Research. The increase in the trading activities that lead to a high demand for packaging and the rising construction activities across the world are reportedly driving the growth of the global hot melt adhesive market. However, the volatility in crude oil prices and the easy availability of substitutes are considered the major factors restricting the higher adoption of hot melt adhesives across the world in the next few years. On the basis of product type, the global hot melt adhesive market is segmented into ethylene vinyl acetate (EVA), polyolefin, polyamide, polyurethane, styrene block copolymer, and others. Among these, the demand for EVA is higher than others, and EVA is expected to dominate the market in the coming years due to the low price of EVA-based hot melt adhesives and the rising popularity in packaging and construction sectors. Polyurethane is also anticipated to present a significant increase in its demand during the forecast period. In terms of end-use, the global hot melt adhesive market is segmented into packaging, construction, book binding & paper binding, non-woven/hygiene, footwear, furniture, electronics, and others. Packaging accounted for a major share of over 30% for hot melt adhesives in 2015 and is projected to maintain its dominance over the coming years. Construction is another major segment after packaging and is likely to grow at moderate rate in the near future. The global hot melt adhesive market is segmented into North America, Europe, Asia Pacific, Latin America, the Middle East & Africa, in terms of region. Europe reportedly dominated the hot melt adhesive market with a share of over 33% in 2015, followed by Asia Pacific and North America. However, the report shows that Asia Pacific is expected to show significant growth compared to other regions in t he coming years, owing to the rising demand for packaging and the growing construction industry in the region. The major players in the global hot melt adhesive market include 3M Co., H.B. Fuller, Henkel AG & Co. KgaA, Hexcel Corp., Dow Corning Corp., Heartland Adhesives, Sika AG, Bostik Inc., Jowat SE, Toyobo Co. Ltd., and Avery Denninson Corp., etc.