Pune, India, Oct 2022, MRFR Press Release/Market Research Future has published a Cooked Research Report on the Global Hot Melt Adhesives Market.
Market valuation of global hot melt adhesives is estimated at USD 8,891.40 Million in 2021 and the market is estimated to reach USD 15,202.00 Million by 2030, growing at a CAGR of 6.04% from 2022 to 2030.
Hot melt adhesives or hot glue is typically a form of thermoplastic adhesive which are commercially available as cylindrical sticks of vivid range of diameters fitting hot adhesive gun.
Hot melt adhesives are widely used in the industrial sector to eliminate volatile organic compounds and other contaminants. Hot melt adhesives are used in a variety of end-use markets around the world, including packaging, automotive, construction, healthcare, and others.
Acees full report @ https://www.marketresearchfuture.com/reports/hot-melt-adhesives-market-4640
The global market for hot melt adhesives is highly fragmented in developing markets such as India and China. As partnerships, mergers, and acquisitions increase, the industry is likely to become more competitive. Furthermore, a growing number of players will enter the market during the estimated assessment period, increasing market competition. 3M, Arkema Group, Henkel AG & Co. KGaA, Beardow Adams, DOW INC, AVERY DENNISON CORPORATION, H.B. Fuller, Jowat SE, SIKA AG, Adhesive Direct UK are among the market's major players.
By Resin Type
- Ethylene Vinyl Acetate (EVA): Ethylene-vinyl acetate (EVA) is a copolymer adhesive deployed in various industries, including assembly, packaging, automotive, and paper. Excellent adhesion, paraffin solubility, strong mechanical strength, and superior flexibility offered by ethylene vinyl acetate (EVA) hot melt adhesives are propelling the segment growth. Polyolefin hot melts are widely utilized in product assembly applications. The key factors driving the segment are excellent chemical resistance, good barrier properties, and low moisture permeability
- Polyolefins: Polyolefins bond well to nonpolar substrates like polyethylene and polypropylene but are usually not recommended for polar surfaces.
- Styrene Butadiene Copolymer (SBC): styrene-butadiene copolymer (SBC), on the other hand, is majorly used in the adhesion of pressure-sensitive products such as tapes, labels, and graphics. The immediate bonding offered by the product fastens the manufacturing process faster, saving time and labor costs. In addition, the formulations prepared with styrene-butadiene copolymer resin as base polymer also offer a unique set of properties and have been utilized for various applications in diverse markets such as automotive, building & construction, shoemaking, textiles, packaging, bookbinding, graphic arts, and tapes & labels. This, in turn, is boosting the adoption of hot melt adhesives, thereby aiding the market growth.
- Polyamide: Polyamidenon-volatile, thermoplastic adhesive resins. Supplied in pellet form and solid at room temperature, they offer beneficial characteristic properties necessary in demanding performance environments. These include: Good chemical and grease resistance compared to other chemistries.
- Polyurethane: Polyurethane have very low glass transition temperatures and are very elastic with a wide range of softening points.
- Building and Construction: Growing construction activities and renovation of the existing buildings are driving the demand for HMA due to their multiple applications, such as the installation of carpets, floors, ceramic tiles, and glasses. The usage of hot melt adhesives also enhances the aesthetic appearance of the floor as compared to staples and nails.
- Paper, Board and Packaging: Paper, Board and Packging comprises of ready-to-use packaging products, pharmaceutical packaging. The changing retail environment has boosted the demand for ready-to-use packaging products, propelling the growth of hot melt adhesives.
- Woodwork and Joinery: Small Joint Assembly, Large Surface Lamination, Mounting and Trim are common applications in the woodwork and joinery segment.
- Automotive & Transportation: Hot melt adhesives are utilized at various stages in the automotive manufacturing process. For instance, these adhesives are being extensively utilized by truck and car manufacturers for the adhesion of headliners, carpets, radiators, and batteries. In addition, other common applications of hot melt adhesives in automobiles include textile convertible roofs, trunk lining, emblem attachment, seat assembly, and air filter attachments.
- Footwear and Leather:Footwear manufacturing is basically a process of transformation and assembly of various components made up of several
- materials where different adhesives play a key role, because without them, the shoe would lack shape and structure.
- Healthcare:Pharmaceutical packaging is major application in the healthcare sector.The growth in this segment is attributed to the advancements in biotechnology and the rising demand for biologics that have boosted the demand for various pharmaceutical packaging products such as pre-fillable syringes and parenteral vials
- Electronics:The growing requirement for circuit board integration across industries such as automotive, manufacturing, aerospace, and information technology is driving up demand for hot-glue adhesive. Other factors driving demand for hot-melt adhesives include increased R&D investment and the evolution of chipsets in the electronics and telecommunications industries.
- North America: In North America, growth construction and building markets, the United States is the region's leading country. North America held the second largest market, and is expected to grow at the fastest rate of 5.35%.
- Europe: The European is largely attributed to the region's growing automotive industry. Germany held the largest market share of 22.5%; the market is expected to grow at the fastest rate during the forecast period.
- Asia Pacific: Asia-Pacific accounted for the largest market share of 44.92%; it is expected to grow at a CAGR of 6.45% during the forecast period. The market in Asia Pacific is expected to grow at the fastest rate due to increased involvement of various electronic product manufacturing companies in the region, including China, South Korea, India, Japan, and others. Furthermore, increased automotive innovation and a growing number of vehicles on the road globally are expected to drive steady growth in demand for hot melt adhesives in the foreseeable future.
- Latin America: The growth in Latin America is attributed to the region's significant potential for use in packaging and non-woven applications. In the region, sustainable materials are being used for packaging applications. In addition, the organisations are putting new models in place to reduce the region's carbon footprint.
- Middle East & Africa: In the Middle East and Africa, accounting for 36.35% in 2021, Turkey with a market value of USD 160.53 million held largest marlet share during the forecast period. The expansion is attributed to the expansion of the construction and building markets, as well as the woodworking markets.