Hot Melt Adhesives (HMA) Market by Type (EVA, SBC, MPO, APAO, Polyamides, Polyolefins, Polyurethanes), Application (Packaging Solutions, Nonwoven Hygiene Products, Furniture & Woodwork, Bookbinding), and Region - Global Forecast to 2022

 Published On: May, 2017 |    No of Pages: 134 |  Published By: MarketsandMarkets | Format: PDF
Request Free Sample
Growing use of Hot Melt Adhesives (HMAs) in packaging solutions and nonwoven hygiene products is a prime factor in the growth of the HMA market

The Hot Melt Adhesives (HMA) market is projected to grow from an estimated USD 6.92 billion in 2017 to USD 9.46 billion by 2022, at a CAGR of 6.5%. The growth of the market is due to the increasing HMA applications in packaging solutions and nonwoven hygiene products.   

EVA is the largest resin type segment in the HMA market

Ethylene-Vinyl Acetate (EVA) is the largest resin type segment in the HMA market, as it offers greater flexibility and has the ability to withstand adverse climatic conditions. SBC is another major segment, which is expected to grow significantly during the forecast period. Other product types of HMA include mPO and PU, which are expected to grow at moderate rates in the coming years. mPO is projected to be the fastest-growing type segment in the HMA market during the forecast period because of its increasing application in nonwoven hygiene products. PU-based HMAs find major applications in shoemaking, paper packaging, bookbinding, automotive, and specialty bag manufacturing industries.

Rising demand in emerging markets such as the Asia-Pacific and South America is the major driver for the HMA market

The HMA market in the Asia-Pacific region is growing at the highest CAGR, in terms of value and volume. High economic growth rate, growing manufacturing industries, cheap labor, increasing foreign investments, and rise in the applications of HMA across the packaging solutions, nonwoven hygiene products, and furniture & woodwork industries are some of the major factors expected to fuel the growth of the market. Countries such as China, India, Thailand, and Malaysia are expected to drive the growth of the market in the Asia-Pacific region.

In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted.

The breakdown of primary interviews is given below.

• By Company Type: Tier 1 – 67%, Tier 2 – 8%, and Tier 3 – 25%
• By Designation: C level – 25%, D level – 42%, and Others – 33%
• By Region: North America – 17%, Europe – 42%, Asia-Pacific – 25%, Middle East & Africa – 8%, and South America – 8%

The key companies profiled in this report are, 3M Company (U.S.), Arkema (France), Dow Corning (U.S.), H.B. Fuller (U.S.), Henkel AG & Company KGaA (Germany), Jowat SE (Germany), and Sika AG (Switzerland)

Research Coverage

The market is segmented based on resin type, application, and region. This report covers the HMA market, in terms of value and volume, and forecasts its market size till 2022. The report also provides company profiles and competitive strategies adopted by the key players in the global HMA market.

Reasons to Buy the Report

The report will help the market leaders/new entrants in this market in the following ways:

1. This report segments the HMA market comprehensively and provides the closest approximations of the revenues for the overall market and the subsegments across different verticals and regions.

2. It will help stakeholders understand the pulse of the market and provide them information on key market drivers, restraints, challenges, and opportunities.

3. It will help stakeholders understand competitors and gain more insights to better their positions in the business. The competitive landscape section includes new product developments, partnerships, and mergers & acquisitions.
TABLE OF CONTENTS

1 INTRODUCTION 12
1.1 OBJECTIVES OF THE STUDY 12
1.2 MARKET DEFINITION 12
1.3 MARKET SCOPE 13
1.3.1 HMA MARKET, BY REGION 13
1.3.2 YEARS CONSIDERED FOR THE STUDY 14
1.4 CURRENCY & PRICING 14
1.5 PACKAGE SIZE 14
1.6 LIMITATIONS 14
1.7 STAKEHOLDERS 14

2 RESEARCH METHODOLOGY 15
2.1 RESEARCH DATA 15
2.1.1 SECONDARY DATA 16
2.1.1.1 Key data from secondary research 16
2.1.2 PRIMARY DATA 17
2.1.2.1 Key data from primary research 17
2.1.2.2 Key Industry Insights 18
2.1.2.3 Breakdown of primary interviews 18
2.2 MARKET SIZE ESTIMATION 19
2.2.1 BOTTOM-UP APPROACH 19
2.2.2 TOP-DOWN APPROACH 20
2.3 DATA TRIANGULATION 21
2.4 RESEARCH ASSUMPTIONS 22

3 EXECUTIVE SUMMARY 23

4 PREMIUM INSIGHT 27
4.1 HMA MARKET OVERVIEW, 2017 VS. 2022 27
4.2 HMA MARKET, BY TYPE 28
4.3 HMA MARKET, BY APPLICATION 29
4.4 HMA MARKET SHARE IN ASIA-PACIFIC, BY APPLICATION AND COUNTRY 30
4.5 HMA MARKET SHARE, BY APPLICATION AND REGION 31
4.6 HMA MARKET ATTRACTIVENESS 32

5 MARKET OVERVIEW 33
5.1 INTRODUCTION 34
5.2 MARKET DYNAMICS 35
5.2.1 DRIVERS 35
5.2.1.1 Wide range of applications 35
5.2.1.2 Increasing replacement of other adhesive technologies by HMAs 36
5.2.1.3 High demand for HMAs in various DIY applications 36
5.2.1 RESTRAINTS 36
5.2.1.1 Lower thermal resistance 36
5.2.2 OPPORTUNITIES 36
5.2.2.1 Booming packaging and nonwoven applications in Asia-Pacific and South America 36
5.2.2.2 Increasing use of HMAs in road marking application 37
5.2.3 CHALLENGES 37
5.2.3.1 Difficulty in usage on hard-to-bond substances 37
5.2.3.2 Volatility in raw material prices 37
5.3 PORTER’S FIVE FORCE ANALYSIS 38
5.3.1 BARGAINING POWER OF SUPPLIERS 39
5.3.2 THREAT OF NEW ENTRANTS 39
5.3.3 THREAT OF SUBSTITUTES 40
5.3.4 BARGAINING POWER OF BUYERS 40
5.3.5 INTENSITY OF COMPETITIVE RIVALRY 41

6 HMA MARKET, BY RESIN TYPE 42
6.1 INTRODUCTION 43
6.2 ETHYLENE VINYL ACETATE (EVA) 45
6.3 STYRENIC BLOCK COPOLYMERS (SBC) 45
6.4 METALLOCENE POLYOLEFIN (MPO) 45
6.5 AMORPHOUS POLYALPHAOLEFINS (APAO) 45
6.6 POLYOLEFINS 45
6.7 POLYAMIDES 46
6.8 POLYURETHANE (PU) 46
6.9 OTHERS 46

7 HMA MARKET, BY APPLICATION 47
7.1 INTRODUCTION 48
7.2 PACKAGING SOLUTIONS 49
7.2.1 CORRUGATED BOXES AND TRAYS 50
7.2.2 CARTON AND SIDE-SEAM CLOSURES 50
7.2.3 NON-PRESSURE SENSITIVE LABELS AND MARKING SYSTEMS 50
7.2.4 FLEXIBLE PACKAGING 50
7.2.5 OTHERS 50
7.3 NONWOVEN HYGIENE PRODUCTS 51
7.3.1 BABY DIAPERS, NAPPIES, AND PANTS 51
7.3.2 ADULT INCONTINENCE 51
7.3.3 FEMININE CARE 51
7.4 FURNITURE & WOODWORK 51
7.4.1 WOODWORKING 51
7.4.2 STRUCTURAL AND NON-STRUCTURAL WOOD PRODUCTS 51
7.5 BOOKBINDING 52
7.5.1 SPINE BINDING 52
7.5.2 COVER PAGE AND EDGE BONDING 52
7.6 OTHERS 52
7.6.1 AUTOMOTIVE & TRANSPORT 52
7.6.2 CONSUMER DIY 52
7.6.3 FOOTWEAR 52
7.6.4 ELECTRONICS 52

8 HMA MARKET, BY REGION 53
8.1 INTRODUCTION 54
8.2 NORTH AMERICA 55
8.2.1 U.S. 58
8.2.2 CANADA 59
8.2.3 MEXICO 60
8.3 ASIA-PACIFIC 61
8.3.1 CHINA 64
8.3.2 JAPAN 65
8.3.3 INDIA 66
8.3.4 SOUTH KOREA 67
8.3.5 MALAYSIA 68
8.3.6 THAILAND 69
8.3.7 REST OF ASIA-PACIFIC 70
8.4 EUROPE 71
8.4.1 GERMANY 73
8.4.2 FRANCE 74
8.4.3 U.K. 75
8.4.4 ITALY 76
8.4.5 SPAIN 77
8.4.6 RUSSIA 78
8.4.7 REST OF EUROPE 79
8.5 SOUTH AMERICA 80
8.5.1 BRAZIL 82
8.5.2 ARGENTINA 83
8.5.3 CHILE 84
8.5.4 REST OF SOUTH AMERICA 85
8.6 MIDDLE EAST & AFRICA 86
8.6.1 SAUDI ARABIA 87
8.6.2 QATAR 88
8.6.3 SOUTH AFRICA 89
8.6.4 REST OF MIDDLE EAST & AFRICA 90

9 COMPETITIVE LANDSCAPE 92
9.1 INTRODUCTION 92
9.1.1 DYNAMIC 92
9.1.2 INNOVATORS 92
9.1.3 VANGUARDS 92
9.1.4 EMERGING 92
9.2 DIVE CHART 93
9.3 PRODUCT OFFERINGS (FOR ALL 25 PLAYERS) 94
9.4 BUSINESS STRATEGY (FOR ALL 25 PLAYERS) 95

10 COMPANY PROFILES 96 (Overview, Financial*, Products & Services, Strategy, and Developments)
10.1 3M COMPANY 96
10.2 ARKEMA 99
10.3 AVERY DENNISON CORPORATION 102
10.4 BEARDOW & ADAMS (ADHESIVES) LTD. 104
10.5 DOW CORNING CORPORATION 106
10.6 HB FULLER COMPANY 108
10.7 HENKEL AG & CO. KGAA 111
10.8 JOWAT SE 114
10.9 SIKA AG 116
10.10 TEX YEAR INDUSTRIES INC. 118
10.11 OTHER PLAYERS 120
10.11.1 ADHESIVE DIRECT UK 120
10.11.2 ADTEK MALAYSIA SDN BHD 120
10.11.3 BUHNEN GMBH & CO. KG 120
10.11.4 CHERNG TAY TECHNOLOGY CO., LTD. 120
10.11.5 COSTCHEM SRL 120
10.11.6 DAUBERT CHEMICAL COMPANY 120
10.11.7 EVANS ADHESIVE CORPORATION, LTD. 120
10.11.8 EVONIK INDUSTRIES AG 120
10.11.9 HELMITIN ADHESIVES 120
10.11.10 KLEBCHEMIE GMBH & CO. KG 121
10.11.11 KMS ADHESIVES LTD. 121
10.11.12 SANYHOT ADHESIVOS S.A. 121
10.11.13 SEALOCK LTD. 121
10.11.14 TOYOBO CO., LTD. 121
10.11.15 WORTHEN INDUSTRIES 121

*Details might not be captured in case of unlisted companies.

11 APPENDIX 122
11.1 DISCUSSION GUIDE 122
11.2 EXPERT INTERVIEW 126
11.3 KNOWLEDGE STORE: MARKETSANDMARKETS SUBSCRIPTION PORTAL 128
11.4 INTRODUCING RT: REAL-TIME MARKET INTELLIGENCE 130
11.5 AVAILABLE CUSTOMIZATIONS 131
11.6 RELATED REPORTS 131
11.7 AUTHOR DETAILS 132

LIST OF TABLES

TABLE 1 HMA MARKET, BY RESIN TYPE, 2015–2022 (USD MILLION) 44
TABLE 2 HMA MARKET, BY RESIN TYPE, 2015–2022 (KILOTON) 44
TABLE 3 HMA MARKET SIZE, BY APPLICATION, 2015–2022 (USD MILLION) 48
TABLE 4 HMA MARKET SIZE, BY APPLICATION, 2015–2022 (KILOTON) 49
TABLE 5 HMA MARKET SIZE, BY REGION, 2015–2022 (USD MILLION) 55
TABLE 6 HMA MARKET SIZE, BY REGION, 2015–2022 (KILOTON) 55
TABLE 7 NORTH AMERICA: HMA MARKET SIZE, BY COUNTRY, 2015–2022 (USD MILLION) 56
TABLE 8 NORTH AMERICA: HMA MARKET SIZE, BY COUNTRY, 2015–2022 (KILOTON) 57
TABLE 9 NORTH AMERICA: HMA MARKET SIZE, BY APPLICATION, 2015–2022 (USD MILLION) 57
TABLE 10 NORTH AMERICA: HMA MARKET SIZE, BY APPLICATION, 2015–2022 (KILOTON) 57
TABLE 11 U.S.: HMA MARKET SIZE, BY APPLICATION, 2015–2022 (USD MILLION) 58
TABLE 12 U.S.: HMA MARKET SIZE, BY APPLICATION, 2015–2022 (KILOTON) 58
TABLE 13 CANADA: HMA MARKET SIZE, BY APPLICATION, 2015–2022 (USD MILLION) 59
TABLE 14 CANADA: HMA MARKET SIZE, BY APPLICATION, 2015–2022 (KILOTON) 59
TABLE 15 MEXICO: HMA MARKET SIZE, BY APPLICATION, 2015–2022 (USD MILLION) 60
TABLE 16 MEXICO: HMA MARKET SIZE, BY APPLICATION, 2015–2022 (KILOTON) 60
TABLE 17 ASIA-PACIFIC: HMA MARKET SIZE, BY COUNTRY, 2015–2022 (USD MILLION) 62
TABLE 18 ASIA-PACIFIC: HMA MARKET SIZE, BY COUNTRY, 2015–2022 (KILOTON) 62
TABLE 19 ASIA-PACIFIC: HMA MARKET SIZE, BY APPLICATION, 2015–2022 (USD MILLION) 63
TABLE 20 ASIA-PACIFIC: HMA MARKET SIZE, BY APPLICATION, 2015–2022 (KILOTON) 63
TABLE 21 CHINA: HMA MARKET SIZE, BY APPLICATION, 2015–2022 (USD MILLION) 64
TABLE 22 CHINA: HMA MARKET SIZE, BY APPLICATION, 2015–2022 (KILOTON) 64
TABLE 23 JAPAN: HMA MARKET SIZE, BY APPLICATION, 2015–2022 (USD MILLION) 65
TABLE 24 JAPAN: HMA MARKET SIZE, BY APPLICATION, 2015–2022 (KILOTON) 65
TABLE 25 INDIA: HMA MARKET SIZE, BY APPLICATION, 2015–2022 (USD MILLION) 66
TABLE 26 INDIA: HMA MARKET SIZE, BY APPLICATION, 2015–2022 (KILOTON) 66
TABLE 27 SOUTH KOREA: HMA MARKET SIZE, BY APPLICATION, 2015–2022 (USD MILLION) 67
TABLE 28 SOUTH KOREA: HMA MARKET SIZE, BY APPLICATION, 2015–2022 (KILOTON) 67
TABLE 29 MALAYSIA: HMA MARKET SIZE, BY APPLICATION, 2015–2022 (USD MILLION) 68
TABLE 30 MALAYSIA: HMA MARKET SIZE, BY APPLICATION, 2015–2022 (KILOTON) 68
TABLE 31 THAILAND: HMA MARKET SIZE, BY APPLICATION, 2015–2022 (USD MILLION) 69
TABLE 32 THAILAND: HMA MARKET SIZE, BY APPLICATION, 2015–2022 (KILOTON) 69
TABLE 33 REST OF ASIA-PACIFIC: HMA MARKET SIZE, BY APPLICATION, 2015–2022 (USD MILLION) 70
TABLE 34 REST OF ASIA-PACIFIC: HMA MARKET SIZE, BY APPLICATION, 2015–2022 (KILOTON) 70
TABLE 35 EUROPE: HMA MARKET SIZE, BY COUNTRY, 2015–2022 (USD MILLION) 71
TABLE 36 EUROPE: HMA MARKET SIZE, BY COUNTRY, 2015–2022 (KILOTON) 71
TABLE 37 EUROPE: HMA MARKET SIZE, BY APPLICATION, 2015–2022 (USD MILLION) 72
TABLE 38 EUROPE: HMA MARKET SIZE, BY APPLICATION, 2015–2022 (KILOTON) 72
TABLE 39 GERMANY: HMA MARKET SIZE, BY APPLICATION, 2015–2022 (USD MILLION) 73
TABLE 40 GERMANY: HMA MARKET SIZE, BY APPLICATION, 2015–2022 (KILOTON) 73
TABLE 41 FRANCE: HMA MARKET SIZE, BY APPLICATION, 2015–2022 (USD MILLION) 74
TABLE 42 FRANCE: HMA MARKET SIZE, BY APPLICATION, 2015–2022 (KILOTON) 74
TABLE 43 U.K.: HMA MARKET SIZE, BY APPLICATION, 2015–2022 (USD MILLION) 75
TABLE 44 U.K.: HMA MARKET SIZE, BY APPLICATION, 2015–2022 (KILOTON) 75
TABLE 45 ITALY: HMA MARKET SIZE, BY APPLICATION, 2015–2022 (USD MILLION) 76
TABLE 46 ITALY: HMA MARKET SIZE, BY APPLICATION, 2015–2022 (KILOTON) 76
TABLE 47 SPAIN: HMA MARKET SIZE, BY APPLICATION, 2015–2022 (USD MILLION) 77
TABLE 48 SPAIN: HMA MARKET SIZE, BY APPLICATION, 2015–2022 (KILOTON) 77
TABLE 49 RUSSIA: HMA MARKET SIZE, BY APPLICATION, 2015–2022 (USD MILLION) 78
TABLE 50 RUSSIA: HMA MARKET SIZE, BY APPLICATION, 2015–2022 (KILOTON) 78
TABLE 51 REST OF EUROPE: HMA MARKET SIZE, BY APPLICATION, 2015–2022 (USD MILLION) 79
TABLE 52 REST OF EUROPE: HMA MARKET SIZE, BY APPLICATION, 2015–2022 (KILOTON) 79
TABLE 53 SOUTH AMERICA: HMA MARKET SIZE, BY COUNTRY, 2015–2022 (USD MILLION) 80
TABLE 54 SOUTH AMERICA: HMA MARKET SIZE, BY COUNTRY, 2015–2022 (KILOTON) 81
TABLE 55 SOUTH AMERICA: HMA MARKET SIZE, BY APPLICATION, 2015–2022 (USD MILLION) 81
TABLE 56 SOUTH AMERICA: HMA MARKET SIZE, BY APPLICATION, 2015–2022 (KILOTON) 81
TABLE 57 BRAZIL: HMA MARKET SIZE, BY APPLICATION, 2015–2022 (USD MILLION) 82
TABLE 58 BRAZIL: HMA MARKET SIZE, BY APPLICATION, 2015–2022 (KILOTON) 82
TABLE 59 ARGENTINA: HMA MARKET SIZE, BY APPLICATION, 2015–2022 (USD MILLION) 83
TABLE 60 ARGENTINA: HMA MARKET SIZE, BY APPLICATION, 2015–2022 (KILOTON) 83
TABLE 61 CHILE: HMA MARKET SIZE, BY APPLICATION, 2015–2022 (USD MILLION) 84
TABLE 62 CHILE: HMA MARKET SIZE, BY APPLICATION, 2015–2022 (KILOTON) 84
TABLE 63 REST OF SOUTH AMERICA: HMA MARKET SIZE, BY APPLICATION, 2015–2022 (USD MILLION) 85
TABLE 64 REST OF SOUTH AMERICA: HMA MARKET SIZE, BY APPLICATION, 2015–2022 (KILOTON) 85
TABLE 65 MIDDLE EAST & AFRICA: HMA MARKET SIZE, BY COUNTRY, 2015–2022 (USD MILLION) 86
TABLE 66 MIDDLE EAST & AFRICA: HMA MARKET SIZE, BY COUNTRY, 2015–2022 (KILOTON) 86
TABLE 67 MIDDLE EAST & AFRICA: HMA MARKET SIZE, BY APPLICATION, 2015–2022 (USD MILLION) 87
TABLE 68 MIDDLE EAST & AFRICA: HMA MARKET SIZE, BY APPLICATION, 2015–2022 (KILOTON) 87
TABLE 69 SAUDI ARABIA: HMA MARKET SIZE, BY APPLICATION, 2015–2022 (USD MILLION) 87
TABLE 70 SAUDI ARABIA: HMA MARKET SIZE, BY APPLICATION, 2015–2022 (KILOTON) 88
TABLE 71 QATAR: HMA MARKET SIZE, BY APPLICATION, 2015–2022 (USD MILLION) 88
TABLE 72 QATAR: HMA MARKET SIZE, BY APPLICATION, 2015–2022 (KILOTON) 89
TABLE 73 SOUTH AFRICA: HMA MARKET SIZE, BY APPLICATION, 2015–2022 (USD MILLION) 89
TABLE 74 SOUTH AFRICA: HMA MARKET SIZE, BY APPLICATION, 2015–2022 (KILOTON) 90
TABLE 75 REST OF MIDDLE EAST & AFRICA: HMA MARKET SIZE, BY APPLICATION, 2015–2022 (USD MILLION) 90
TABLE 76 REST OF MIDDLE EAST & AFRICA: HMA MARKET SIZE, BY APPLICATION, 2015–2022 (KILOTON) 91

LIST OF FIGURES

FIGURE 1 HMA MARKET SEGMENTATION 13
FIGURE 2 HMA MARKET: RESEARCH DESIGN 15
FIGURE 3 MARKET SIZE ESTIMATION: BOTTOM-UP APPROACH 19
FIGURE 4 MARKET SIZE ESTIMATION: TOP-DOWN APPROACH 20
FIGURE 5 HMA MARKET: DATA TRIANGULATION 21
FIGURE 6 EVA TO ACCOUNT FOR THE LARGEST SHARE IN HMA MARKET, DURING THE FORECAST PERIOD 24
FIGURE 7 NONWOVEN HYGIENE PRODUCTS SEGMENT TO REGISTER THE HIGHEST CAGR DURING FORECAST PERIOD 25
FIGURE 8 ASIA-PACIFIC TO WITNESS FASTEST GROWTH DURING FORECAST PERIOD 25
FIGURE 9 NORTH AMERICA DOMINATED HMA MARKET IN TERMS OF VALUE DURING 2016 26
FIGURE 10 HMA MARKET TO WITNESS HEALTHY CAGR BETWEEN 2017 AND 2022 27
FIGURE 11 MPO TO REGISTER THE HIGHEST CAGR DURING FORECAST PERIOD 28
FIGURE 12 NONWOVEN HYGIENE PRODUCTS TO REGISTER THE HIGHEST CAGR DURING FORECAST PERIOD 29
FIGURE 13 CHINA ACCOUNTED FOR THE LARGEST MARKET SHARE IN 2016 30
FIGURE 14 PACKAGING SOLUTIONS SEGMENT ACCOUNTED FOR THE LARGEST MARKET SHARE IN 2016 31
FIGURE 15 ASIA-PACIFIC TO BE THE FASTEST-GROWING HMA MARKET BETWEEN 2017 AND 2022 32
FIGURE 16 INCREASING USE IN VARIOUS APPLICATIONS IS DRIVING HMA MARKET 35
FIGURE 17 PORTER’S FIVE FORCE ANALYSIS 38
FIGURE 18 EVA LEADS THE HMA MARKET, BY RESIN TYPE 43
FIGURE 19 PACKAGING SOLUTIONS SEGMENT LEADS HMA MARKET, BY APPLICATION 48
FIGURE 20 REGIONAL SNAPSHOT: ASIA-PACIFIC TO LEAD HMA MARKET BY 2022 54
FIGURE 21 NORTH AMERICA MARKET SNAPSHOT: U.S. ACCOUNTED FOR THE LARGEST SHARE IN HMA MARKET 56
FIGURE 22 CHINA ACCOUNTED FOR THE LARGEST SHARE IN HMA MARKET IN 2016 61
FIGURE 23 BRAZIL DOMINATES HMA MARKET IN SOUTH AMERICA 80
FIGURE 24 3M COMPANY: COMPANY SNAPSHOT 96
FIGURE 25 ARKEMA: COMPANY SNAPSHOT 99
FIGURE 26 AVERY DENNISON CORPORATION: COMPANY SNAPSHOT 102
FIGURE 27 HB FULLER COMPANY: COMPANY SNAPSHOT 108
FIGURE 28 HENKEL AG & CO. KGAA: COMPANY SNAPSHOT 111
FIGURE 29 SIKA AG: COMPANY SNAPSHOT 116

If the above report does not have the information suitable for your business, we can provide custom research that can be lucrative for your business or enhance your profession.