ID: MRFR/CnM/3219-HCR | February 2021 | Region: Global | 136 pages
$13.1 billion
5.95%
Asia Pacific
2021-2030
The Hot Melt Adhesives Market is estimated to reach USD 13.1 billion by 2027 at a CAGR of 5.95% from 2020 - 2027.
Hot melt adhesives are widely used to promote a flexible and strong bond within the materials. Generally, hot melt adhesives are a combination of solvent-free compounds. These are found as thermoplastic in nature and solids at room temperature. To give the perfect finish, these adhesives are first used to melt and then cooled for some time, and next is applied on the surface. Moreover, the hot melt adhesives are growing its popularity across various regions as it offers environmental compatibility, good thermal stability and resistance, safe storage and efficient storage. Further, hot melt adhesives are widely used in various applications such as woodworking, carton-sealing, food packaging, building & construction, and many others.
The hot melt adhesives market is classified into two segments such as application and types. The global market is segmented into polyolefin hot melts and ethylene-vinyl acetate based on the type segment. Out of these two types of segments, polyolefin hot melts are a combination of tackifiers and base resins. The polyolefin hot melt is growing its demand, and it is expected to increase in the appliance industry. It is growing because it is providing exceptional solutions, including alcohols, acids, and bases, resistance to polar solvents, and the ability to resist water vapor and moisture. Moreover, these adhesives are widely used in hard bonding of materials like plastic hoses bonding and dryer drums bonding. On the other hand, the ethylene-vinyl acetate type segment is predicted to generate a higher market share for the hot melt adhesives market due to the increasing use in electronics, food packaging, and construction. Along with that, the ethylene-vinyl acetate type segment is increasing its demand with its end-use industries and increasing hot melt adhesives demand. The ethylene-vinyl acetate segment is predicted to dominate the global market in the coming years because of its reliable and eco-friendly nature. Apart from that, the hot melt adhesives market’s applications segment is segmented into woodworking, carton-sealing, food packaging, buildings & construction, and many others. Out of these, the packaging application segment is predicted to dominate the global market and contribute to the hot melt adhesives market size during the forecast period of 2017 to 2023.
The hot melt adhesives market report highlights the increasing growth of the global market, and further, it gas predicted to increase its hot melt adhesives market size in the forecast period. The increasing wide range of applications is likely to boost the global market in the forecast period. Moreover, the high demand for HMAs in different DIY applications is expected to enhance the global market demand. The hot melt adhesives market is also driving its growth due to the growing replacement of other adhesive technologies by HMAs. Apart from that, the global market is bringing more opportunities with its nonwoven applications and booming packaging in Asia-Pacific. Moreover, the increasing HMAs usages in road marking application are bringing more opportunities for the manufacturers. However, the difficulty in the usage of hard-to-bond substances might bring more challenges to the hot melt adhesives market. And the untimely COVID-19 pandemic is one of the major challenges for the global market as it has lost its investors and production works. But the continuous efforts of the global key players were immensely growing the business and predicted to achieve the market share for the forecast period.
Covid-19 analysis
The covid-19 pandemic has affected many businesses and organizations. The implementation of social distancing guidelines and the global lockdown have affected many marketing sectors, and the hot melt adhesives market is one among them. The untimely COVID-19 pandemic is one of the major challenges for the global market as it has lost its investors and production works.
Therefore, the global hot melt adhesives market report explains that the continuous efforts of the global key players are immensely growing the business and predict to achieve the market share for the forecast period.
Competitive Analysis
In the market, some top key players are:
Market Dynamics
The increasing wide range of applications is likely to boost the global market in the forecast period. Moreover, the high demand for HMAs in different DIY applications is expected to enhance the global market demand. The hot melt adhesive market is also driving its growth due to the growing replacement of other adhesive technologies by HMAs.
As a result, the hot melt adhesive market has increased its demand across various regions due to the development of acquisitions, new products, and agreements by the global key players.
The global hot melt adhesive market is bringing more opportunities with its nonwoven applications and booming packaging in Asia-Pacific. Moreover, the increasing HMAs usages in road marking application are bringing more opportunities for the manufacturers.
Therefore, the global hot melt adhesives market report explains that the continuous efforts of the global key players are immensely growing the business and predict to achieve the market share for the forecast period.
The global hot melt adhesives market is increasing wide range of applications and the increasing HMAs usages, which is bringing higher opportunities to the hot melt adhesives market. Here, the requirement of the high initial investment might be the major restraints for the global market.
Another restraint is the COVID-19 pandemic because it has lost its investors and production works. In the present scenario, the global hot melt adhesives market implies various strategies to increase the hot melt adhesive suppliers and further increase the demand for the forecast period.
The difficulty in the usage of hard-to-bond substances might bring more challenges to the global hot melt adhesives market. Along with that, the untimely COVID-19 pandemic is one of the major challenges for the global market as it has lost its investors and production works.
The global hot melt adhesives market report explains that the continuous efforts of the global key players to face these challenges are predicted to grow the business and to achieve the market share for the forecast period.
The packaging application segment is predicted to dominate the global market and contribute to the hot melt adhesives market size during the forecast period of 2017 to 2023.
Hence, the global market players are giving their 100% to thrive the global demand across various regions. Also, the global market is developing its hot melt adhesive suppliers.
Market segmentation Overview
Based on the type segment, the hot melt adhesives market is classified into two types: polyolefin hot melts and ethylene vinyl acetate. Out of these two types of segments, polyolefin hot melts are a combination of tackifiers and base resins. The polyolefin hot melt is growing its demand, and it is expected to increase in the appliance industry. It is growing because it is providing exceptional solutions, including alcohols, acids, and bases, resistance to polar solvents, and the ability to resist water vapor and moisture. Moreover, these adhesives are widely used in hard bonding of materials like plastic hoses bonding and dryer drums bonding.
On the other hand, the ethylene-vinyl acetate type segment is predicted to generate a higher market share for the hot melt adhesives market due to the increasing use in electronics, food packaging, and construction. Along with that, the ethylene-vinyl acetate type segment is increasing its demand with its end-use industries and increasing hot melt adhesives demand. The ethylene-vinyl acetate segment is predicted to dominate the global hot melt adhesives market in the coming years because of its reliable and eco-friendly nature.
The hot melt adhesives market is classified into woodworking, carton-sealing, food packaging, buildings & construction, and many others.
Out of these, the packaging application segment is predicted to dominate the global hot melt adhesives market and contribute the largest share during the forecast period of 2017 to 2023.
Regional Analysis
Based on the regional classification, the hot melt adhesives market has been classified into various regions such as Europe, Latin America, Asia Pacific, North America, and the Middle East & Africa.
Regionally, Asia Pacific Region is predicted to generate the highest CAGR for the forecast period. The global hot melt adhesives market is increasing usage in end-use industries like electronics, woodworking, and general consumer packaging in this region.
These key players are playing an important role in developing the hot melt adhesives market. They are adopting advanced methods to improve the global market demand and increase the hot melt adhesive suppliers.
Recent developments
Report Overview
The hot melt adhesives market report highlights the increasing growth of the global market, and further, it gas predicted to increase its hot melt adhesives market size in the forecast period. The report has given the focus on the COVID-19 analysis, market overview, market segmentation, regional analysis, recent developments, and competitive analysis. The report explains that the increasingly wide range of applications is likely to boost the global market in the forecast period. Moreover, the high demand for HMAs in different DIY applications is expected to enhance the global market demand. The hot melt adhesives market is also driving its growth due to the growing replacement of other adhesive technologies by HMAs.
Apart from that, the global market is bringing more opportunities with its nonwoven applications and booming packaging in Asia-Pacific. Moreover, the increasing HMAs usages in road marking application are bringing more opportunities for the manufacturers. However, the difficulty in the usage of hard-to-bond substances might bring more challenges to the hot melt adhesives market. And the untimely COVID-19 pandemic is one of the major challenges for the global market as it has lost its investors and production works. But the continuous efforts of the global key players were immensely growing the business and predicted to achieve the market share for the forecast period.
Segmental Table:
By Types
By Applications:
Report Attribute/Metric | Details |
---|---|
Market Size |
|
CAGR | 5.95% (2022-2030) |
Base Year | 2021 |
Forecast Period | 2022-2030 |
Historical Data | 2019 & 2020 |
Forecast Units | Value (USD Billion) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | Type and Application |
Geographies Covered | Asia Pacific, North America, Europe, Latin America and the Middle East & Africa |
Key Vendors | 3M Company (US), Arkema (France), Henkel AG & Co. KGaA (Germany), Dow Corning Corporation (US), Huntsman International LLC. (US), Sika AG (Switzerland), RPM International Inc. (US), The Dow Chemical Company(US), and H.B. Fuller Company(US) |
Key Market Opportunities | Its nonwoven applications and booming packaging in Asia-Pacific. |
Key Market Drivers | The increasing wide range of applications is likely to boost the global market |
Frequently Asked Questions (FAQ) :
Ethylene vinyl acetate, polyolefin, polyamide, polypropylene and polyurethane are the main types of hot melt adhesives, majorly used in applications such as food buildings & construction, packaging, woodworks, carton-sealing, general consumer packaging, and electronics others
Ethylene vinyl acetate segment is expected to remain the strongest market share holder in the global hot melt adhesives market owing to their eco-friendly and reliable nature.
Rapid Industrialization.
Europe holds the largest share in the global hot melt adhesives market followed by Asia Pacific and North America.
The 3M Company (US), Arkema (France), Henkel AG & Co. KGaA (Germany), Dow Corning Corporation (US), Huntsman International LLC. (US), Sika AG (Switzerland), RPM International Inc. (US), The Dow Chemical Company(US), and H.B. Fuller Company(US), are some of the leading players in the global hot melt adhesives market.