Hot Melt Adhesives Market size was valued at USD 9.09 Bn. in 2022 and the total Hot Melt Adhesives revenue is expected to grow at a CAGR of 4.8 % from 2023 to 2029, reaching nearly USD 12.63 Bn.
Hot Melt Adhesives Market Overview:Hot melt adhesive (HMA), often known as hot glue, is a type of thermoplastic adhesive that is typically offered in the form of solid cylindrical sticks of varying diameters meant to be applied using a hot glue gun. The gun melts the plastic glue using a continuous-duty component, which the user pushes through the gun with either a mechanical trigger mechanism or direct finger pressure. Initially, the glue squeezed from the heated nozzle is hot enough to burn and even blister flesh. The glue is tacky when warmed, and solidifies in a few seconds to at least one minute. Hot melt adhesives, which may also be applied by dipping or spraying, are popular among hobbyists and crafts for affixing and as a low-cost alternative to resin casting. The global hot melt adhesives market is expected to rise significantly due to increased demand for novel and enhanced products from different industrial sectors such as automotive, construction, packaging, furniture, and non-T woven/hygiene. Rising consumer awareness of non-woven/hygiene, supporting government policies, and increasing expenditures in creating new hot melt adhesives are additional important drivers that are expected to boost the market growth. Robust industrialization and easy access to raw materials are also expected to increase demand for superior melt adhesives. However, the poor heat resistance of hot melt adhesives may restrict the growth of the global hot melt adhesives market. Alternatively, the rising number of non-woven and packaging applications in the Asia Pacific and Latin American regions is expected to bring up new potential opportunities for the market's major competitors. The increasing demand for packaging and non-woven materials is a crucial driver driving the market growth. Hot melt adhesives (HMAs), unlike their solvent- or water-based equivalents, do not require drying or curing. They may be applied in their molten form and so bonded immediately after application, giving them a significant advantage in a variety of applications such as packaging, nonwovens (diapers and feminine hygiene products), furniture, industrial assembly, and others. To know about the Research Methodology:-Request Free Sample Report
Hot Melt Adhesives Market Dynamics:Rising Polyurethane HMAs demand from various End-use Industries The growing demand for polyurethane is one of the key growth drivers for the increase in consumption of polymer-based HMAs. Polyurethane is a low-volatile organic molecule that is also widely utilized in the production of HMAs as basic materials. Polyurethane adhesives are particularly intended to hold non-porous materials like metal and wood together, making them ideal for bookbinding, shoemaking, and product packaging applications. Because of its superior strength, fast set time, and durability, PUR is perfect for a wide range of woodworking applications, including finish carpentry, shoe repair, furniture repair, shattered glassware repair, laminate countertops, construction and renovation, ceramic ceiling tiles, and others. connect to the bonded object and produce a firm, permanent bond of their own. PUR HMAs collects moisture from the substrates and the environment and cure it to generate a tighter bond than most other adhesives, including water-based adhesives and other HMA formulations. Because polyurethane is applied in the same way as other HMAs are, with glue guns or similar instruments, operators may quickly get up to speed on enforcing the best standards without having to acquire completely new procedures and equipment. High demand for hot melt adhesives for Do It Yourself (DIY) art and craft Growing Consumer preference for hot melt adhesives for Do It Yourself (DIY) art and craft globally is expected to drive Hot Melt Adhesives Market revenue growth. Increased participation in art and craft activities among youngsters to improve their creative abilities is expected to raise the consumption of hot melt adhesives. Additionally, customers are increasingly inclined to use hot melt adhesives to cut installation and maintenance costs, which is driving up demand for hot melt adhesives for DIY applications. Hot melt adhesives may be utilized in a variety of applications, including quick-fixing furniture, wooden items, doors, and electronics, which is increasing their demand and, as a result, the market's revenue growth. The rising number of small art and craft e-commerce enterprises providing a wide range of gifting and home décor goods is raising consumption for hot melt adhesives, which is expected to drive market revenue growth during the forecast period. Hot melt adhesives are also commonly used in gift box assembly, DIY assembly, and the construction of paper-made and wooden cases. Additionally, consumers' rising use of hot melt adhesives for adhering fabric to make style clothes is expected to drive the global hot melt adhesives market. Consumers' increased adoption of DIY furniture and wood assembly projects is driving demand for hot melt adhesives, which is expected to drive revenue growth. Besides that, rising consumer desire for self-designed home décor products made using hot melt adhesives to create an artistic ambiance is expected to increase sales growth. Emergence of Environmentally Friendly HMAs to Drive Hot Melt Adhesives Market Bacteria, fungi, and other biological processes can naturally degrade biodegradable adhesives. Some "biodegradable" adhesives break down faster in warm, humid conditions than in cold, dry conditions. Hot melt biodegradable adhesives are utilized in the packaging, bookbinding, and laminating industries. The growing demand for more environmentally friendly packaging solutions has correspondingly increased the requirement for biodegradable hot melt adhesive. The biodegradable glue is intended to respond to consumer demands while also minimizing the environmental impact of packaging applications. Consumer awareness and rigorous restrictions would drive the business during the forecast period. Biodegradable adhesives are comparable to compostable adhesives. When disposed of in a landfill, biodegradable glue will not break down properly or entirely. However, if the biodegradable adhesive is used, it will entirely disintegrate. Besides this, biodegradable adhesives aid in soil improvement and the detection of extra nutrients. In addition, manufacturers are focusing on implementing biodegradable and compostable adhesive solutions in their value chain to gain a competitive advantage in the marketplace. For example, in April 2021, H.B. Fuller launched two biodegradable adhesive solutions for the flexible packaging sector under the Flextra Evolution name. Poor Thermal Resistance of HMAs HMA is a thermoplastic that is more "fragile" at low temperatures and "smoother" at high temperatures. The thermal load of the substrate limits its application to substrates that are not vulnerable to high temperatures, and other limitations include a lack of adhesion at excessive temperatures or those capable of melting the adhesive. Thermal loading of the substrate, restricting the use of substrates that are not susceptible to higher temperatures, and a lack of binding strength at higher temperatures before the adhesive is completely melted are all limitations. Any hot melt glue may be susceptible to weather and chemical damage. One important aspect restricting market growth is HMAs' susceptibility to higher temperatures, which can cause bond strength to deteriorate at higher temperatures.
Hot Melt Adhesives Market Segment Analysis:By Application, the Packaging segment held the largest share of about 38% of the Hot Melt Adhesives market in 2022 and is expected to grow at a CAGR of 4.5% during the forecast period. The increasing need for adequate packaging solutions for items to prevent their materials from being damaged during transportation, processing, and storage is expected to be the key driver driving segment growth over the forecast period. Packaging helps to keep the product intact along its transportation chain from producer to end user, leading to increased product sealing usage. Hot melt adhesives have several uses in a variety of sectors for improved packaging, which is expected to drive segment revenue growth during the forecast period. Hot melt adhesives are commonly utilized in both primary and secondary paper and board-based packaging, while the hot melt itself is rarely in direct touch with the packed food. Despite this, in recent years, both brand owners and retailers have imposed more stringent criteria on their packaging materials to ensure optimum customer safety. An extremely high percentage of all industrial items are sold in packaging, either for storage and transportation stability or for aesthetic reasons. Hot-melt adhesives are common in the paper, board, and packaging sectors. Its most common applications are carton closure, sealing, and pallet stability. Hot-melt adhesives' uses span from corrugated box construction and printed sheet lamination to packaging materials for all sorts of consumer items and massive industrial tubes and cores. Americans would utilize more than 90 million short tonnes of paper and paperboard by April 2021. North America has the biggest per capita usage of paper of any area, with 221 kilos consumed per capita. According to FAO statistics, China, the world's largest paper manufacturing country, would produce more than 130 million metric tonnes of processed paper and cardboard in 2021. The usually low levels of automation are another factor contributing to the potential need for hot-melt adhesives in the packaging sector. As a result, several package manufacturers have turned to alternative adhesives. The bookbinding segment is expected to account for a significant growth rate during the forecast period, owing to rising demand for bookbinding to enhance the lifespan of books and project reports. Bookbinding also improves the visual appeal of books, project reports, and notebooks, which increases bookbinding demand. Additionally, increased student use of DIY bookbinding utilizing hot melt adhesives is expected to drive segment growth during the forecast period. Meanwhile, the growing requirement among customers for bookbinding of vital papers to prevent them from deterioration is expected to propel the segment's revenue growth. The Nonwovens segment is expected to with a considerable growth rate of about 3.9% during the forecast period. Rising personal hygiene concerns and rising disposable income are driving demand for nonwoven items such as female hygiene goods, diapers, and personal care products, which are expected to drive segment growth. Likewise, vehicle and truck manufacturers utilize hot melt adhesives extensively for the attachment of carpets, headliners, radiators, and batteries. Besides that, polyolefin is utilized for the coating of electronic components and wire insulation, which increases the demand for HMA in the automobile sector due to its safety, quality, and dependability.
Hot Melt Adhesives Market Regional Insights:Asia-Pacific region dominated the Hot Melt Adhesives market with the largest revenue share of about 43% in 2022 and is expected to maintain its dominance throughout the forecast period. The region's significant increase in e-commerce services, along with rapidly increasing demand for nonwoven materials, is the primary driver driving market growth. Because of the wide range of applications for hot melt adhesives, the competitive business is creating additional opportunities, which improves customer product demand. In addition, with rapidly increasing packaging and pharmaceutical industries in countries like China, India, Japan, and South Korea, the consumption of hot-melt adhesives is increasing rapidly in the region. In recent years, these nations have seen significant growth in the fast-moving consumer goods (FMCG) sector. The growth of the FMCG sector has been primarily driven by increased expenditure on premium and healthier products by the country's middle-class customers. China is one of the fastest-growing markets, globally, and almost all the end-user industries have been growing, due to the increase in population, living standards, and per capita income. However, due to international trade turbulences and negative geopolitical events, the growth rate is expected to decrease over the forecast period's first few years. China has the world's second-largest packaging industry. Due to the emergence of customized packaging and growing demand for packaged consumer products in the food segment, such as microwave food, snack foods, and frozen foods, the country is expected to grow consistently throughout the forecast period. However, due to the increased demand for sports footwear, the Chinese footwear sector has seen significant rapid economic and social development in recent years. Likewise, government initiatives that promote a healthy lifestyle are actively supporting the sports footwear industry. The Chinese mainland footwear market is expected to be valued at around CNY 487.4 billion in 2021. The 13th Five-Year Plan of China began in 2016, which was a pivotal year for the country's engineering, procurement, and construction (EPC) business. Also, during the year, the country experimented with innovative business methods both nationally and internationally. Although the building sector declined after 2013, it remains a significant contribution to the country's GDP. India has the world's fifth-largest packaging sector, and it is rapidly growing. The packaging sector in the nation is being driven by increased innovation in industries to make their products more compact and portable. India's total vehicle production in 2020 was about 3,394,446 vehicles, including passenger, commercial, three-wheeler, two-wheeler, and quadricycles, a 25% decrease from 45,16,017 cars produced in 2019. North America is expected to grow at a CAGR of 4.1% in terms of revenue. Because of the presence of some of the leading packaging manufacturers, such as International Paper, Ball Corporation, and Owens-Illinois, the region's packaging industry is expected to be a significant factor in market growth. Europe is expected to increase steadily throughout the forecast period. Increasing building activities, a developing automotive industry, and greater online product delivery services in major Western European nations such as Italy, the United Kingdom, Germany, France, and Spain will all have a beneficial impact on market growth in the area. The U.S. is expected to dominate the North American Hot Melt Adhesives market during the forecast period. The furniture business in the United States is expected to grow throughout the forecast period increasing residential and commercial building activity. The growing woodworking industry in the United States is expected to drive the polyurethane-based adhesives market. HMAs are increasingly being utilized to make vehicle interior panels as the automotive industry grows, driving the country's growth. Rising infrastructure investment in Canada to enhance existing public infrastructure is a fundamental driver driving the rise of the construction business. Because of increased industrialization and urbanization, Canada's desire for greater infrastructure may boost the country's growth. The area has stringent environmental laws for solvent-based adhesives, which should promote market expansion. However, increased government restrictions for environmental safety, easy access to products, and restricted raw material availability may constrain the region's product market growth. The increasing paperboard and packaging sector is expected to increase HMA sales because of the growing demand for suitable food and beverage packaging. Competitive Scenario Hot Melt Adhesives Market Hot melt adhesives are becoming more popular, owing to decreased production costs and regulatory requirements. The global market for hot melt adhesives is extremely fragmented in developing markets such as India and China and includes end-user applications such as packaging, non-woven, pressure-sensitive adhesive, and bookbinding, as well as furniture and construction applications. Continuous advancements in the raw ingredients used to make hot melt adhesives have enabled adhesive makers to develop new high-performance formulations that are now accessible. The market's leading players are generally focused on market penetration and market development, mergers and acquisitions, and high profit-margin areas. Meridian Adhesives Group, a renowned manufacturer and formulator of water-based and hot-melt adhesives and coatings, for example, bought Prime Blend LLC in September 2021. Additionally, in October 2020, Pidilite Industries Ltd. paid USD 257 million (rupees 2,100 crores) for Huntsman Group's Indian subsidiary Huntsman Advanced Materials Solutions Private Limited (HAMSPL), expanded its product offering for the do-it-yourself (DIY) consumer adhesives business. This enables the business to capitalize on market growth.
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Hot Melt Adhesives Market Report Coverage Details Base Year: 2022 Forecast Period: 2023-2029 Historical Data: 2017 to 2022 Market Size in 2022: USD 9.09 Bn. Forecast Period 2023 to 2029 CAGR: 4.8 % Market Size in 2029: USD 12.63 Bn. Segments Covered: by Product • Ethylene-vinyl Acetate (EVA) • Polyurethane • Rubber • Polyolefin • Others by Application • Packaging • Bookbinding • Assembly • Woodworking • Automotive • Nonwovens • Others by Type • Polyamide • EVA (Ethylene-Vinyl Acetate) • SBC (Styrenic Block Copolymers) • PU (Polyurethane) • APAO (Amorphous Poly-Alpha olefin & POE (Polyolefin Elastomers) • Others
Hot Melt Adhesives Market, by Region• North America • Europe • Asia Pacific • Middle East and Africa • South America
Hot Melt Adhesives Market Key Players• Henkel &Co. KGaA • Jowat SE • Sika AG • 3M Company • Bostik Inc. • Avery Dennison Corporation • H.B. Fuller Company • Arkema Group • Westlake Chemical Corporation • Beardow& Adams (Adhesives) Limited. • DowDuPont Inc. • Arkema Group • Ashland • Delo Industrial Adhesives • BASF SE • Huntsman International LLC • RPM International Inc. • Evonik Industries AG • Westlake Chemical Corporation FAQs: 1. What are the major growth drivers for the Hot Melt Adhesives market? Ans. Rising consumer awareness of non-woven/hygiene, supporting government policies, and increasing expenditures in creating new hot melt adhesives, robust industrialization, and easy access to raw materials are expected to be the major drivers for the Hot Melt Adhesives market. 2. What is the major restraint for the Hot Melt Adhesives market growth? Ans. The poor thermal resistance of HMAs is expected to be the major restraining factor for the Hot Melt Adhesives market growth. 3. Which region is expected to lead the global Hot Melt Adhesives market during the forecast period? Ans. The Asia-Pacific market is expected to lead the global Hot Melt Adhesives market during the forecast period due to the increase in e-commerce services, along with rapidly increasing demand for nonwoven materials. 4. What is the projected market size & growth rate of the Hot Melt Adhesives Market? Ans. The Hot Melt Adhesives Market size was valued at USD 9.09 Bn. in 2022 and the total Hot Melt Adhesives revenue is expected to grow at a CAGR of 4.8 % from 2023 to 2029, reaching nearly USD 12.63 Bn. 5. What segments are covered in the Hot Melt Adhesives Market report? Ans. The segments covered are Product, Application, and Region.
1. Global Hot Melt Adhesives Market: Research Methodology 2. Global Hot Melt Adhesives Market: Executive Summary 2.1 Market Overview and Definitions 2.1.1. Introduction to Global Hot Melt Adhesives Market 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entry 3. Global Hot Melt Adhesives Market: Competitive Analysis 3.1 MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2 Consolidation in the Market 3.2.1 M&A by region 3.3 Key Developments by Companies 3.4 Market Drivers 3.5 Market Restraints 3.6 Market Opportunities 3.7 Market Challenges 3.8 Market Dynamics 3.9 PORTERS Five Forces Analysis 3.10 PESTLE 3.11 Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • South America 3.12 COVID-19 Impact 4. Global Hot Melt Adhesives Market Segmentation 4.1 Global Hot Melt Adhesives Market, by Product (2021-2029) • Ethylene-vinyl Acetate (EVA) • Polyurethane • Rubber • Polyolefin • Others 4.2 Global Hot Melt Adhesives Market, by Application (2021-2029) • Packaging • Bookbinding • Assembly • Woodworking • Automotive • Nonwovens • Others 4.3 Global Hot Melt Adhesives Market, by Type (2021-2029) • Polyamide • EVA (Ethylene-Vinyl Acetate) • SBC (Styrenic Block Copolymers) • PU (Polyurethane) • APAO (Amorphous Poly-Alpha olefin & POE (Polyolefin Elastomers) • Others 5. North America Hot Melt Adhesives Market(2021-2029) 5.1 North America Hot Melt Adhesives Market, by Product (2021-2029) • Ethylene-vinyl Acetate (EVA) • Polyurethane • Rubber • Polyolefin • Others 5.2 North America Hot Melt Adhesives Market, by Application (2021-2029) • Packaging • Bookbinding • Assembly • Woodworking • Automotive • Nonwovens • Others 5.3 North America Hot Melt Adhesives Market, by Type (2021-2029) • Polyamide • EVA (Ethylene-Vinyl Acetate) • SBC (Styrenic Block Copolymers) • PU (Polyurethane) • APAO (Amorphous Poly-Alpha olefin & POE (Polyolefin Elastomers) • Others 5.4 North America Hot Melt Adhesives Market, by Country (2021-2029) • United States • Canada • Mexico 6. Europe Hot Melt Adhesives Market (2021-2029) 6.1. European Hot Melt Adhesives Market, by Product (2021-2029) 6.2. European Hot Melt Adhesives Market, by Application (2021-2029) 6.3. European Hot Melt Adhesives Market, by Type (2021-2029) 6.4. European Hot Melt Adhesives Market, by Country (2021-2029) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific Hot Melt Adhesives Market (2021-2029) 7.1. Asia Pacific Hot Melt Adhesives Market, by Product (2021-2029) 7.2. Asia Pacific Hot Melt Adhesives Market, by Application (2021-2029) 7.3. Asia Pacific Hot Melt Adhesives Market, by Type (2021-2029) 7.4. Asia Pacific Hot Melt Adhesives Market, by Country (2021-2029) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 8. Middle East and Africa Hot Melt Adhesives Market (2021-2029) 8.1 Middle East and Africa Hot Melt Adhesives Market, by Product (2021-2029) 8.2. Middle East and Africa Hot Melt Adhesives Market, by Application (2021-2029) 8.3. Middle East and Africa Hot Melt Adhesives Market, by Type (2021-2029) 8.4. Middle East and Africa Hot Melt Adhesives Market, by Country (2021-2029) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 9. South America Hot Melt Adhesives Market (2021-2029) 9.1. South America Hot Melt Adhesives Market, by Product (2021-2029) 9.2. South America Hot Melt Adhesives Market, by Application (2021-2029) 9.3. South America Hot Melt Adhesives Market, by Type (2021-2029) 9.4 South America Hot Melt Adhesives Market, by Country (2021-2029) • Brazil • Argentina • Rest Of South America 10. Company Profile: Key players 10.1 Henkel &Co. KGaA 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2 Jowat SE 10.3 Sika AG 10.4 3M Company 10.5 Bostik Inc. 10.6 Avery Dennison Corporation 10.7 H.B. Fuller Company 10.8 Arkema Group 10.9 Westlake Chemical Corporation 10.10 Beardow& Adams (Adhesives) Limited. 10.11 DowDuPont Inc. 10.12 Arkema Group 10.13 Ashland 10.14 Delo Industrial Adhesives 10.15 BASF SE 10.16 Huntsman International LLC 10.17 RPM International Inc. 10.18 Evonik Industries AG 10.19 Westlake Chemical Corporation