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Hot Melt Adhesives Market Forecast 2028

Maria James by Maria James
April 29, 2022
in Business, Technology
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Hot Melt Adhesives Market
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Overview of the Report

For the period from 2022 to 2028, the global hot-melt adhesives market is expected to grow at a compound annual growth rate (CAGR) of 4.8%. Growth in the Hot Melt Adhesives Market for hot glue adhesives, which are used to seal boxes and cartons used for food and general consumer goods packaging, is being fueled by this trend. There are a wide range of materials and surfaces that can be adhered to with hot-melt adhesives (HMA), making them ideal for DIY projects. Even in developed economies like North America and Europe, the concept of DIY is still relatively new. Craft, packaging, and woodworking are all examples of DIY applications.

Read More : https://www.zionmarketresearch.com/report/hot-melt-adhesives-market

Dimensions, by product, of the U.S. hot melt adhesives market from 2022 to 2028 (USD Million)

Manufacturers and consumers of hot-melt adhesives are based in the United States. Due to the COVID-19 outbreak, the demand for products increased significantly. Product delivery services have grown as hot melt adhesives have become more widely used in the packaging of parcel boxes, which has boosted both production and consumption.

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However, the pandemic disrupted the supply of raw materials, such as additives, polymers, and resins, which resulted in a rise in prices for the manufacturers. End-use industries were hit hard by the pandemic’s effects, which did not stop at raw materials.

U.S. demand for bio-based hot melt adhesives due to their environmental benefits is fueling the industry. As an example, a company that manufactures adhesives has introduced products made from renewable raw materials that have been certified by the USDA for the North American market, among other things

As construction and renovation of existing buildings increase, the demand for hot-melt adhesives rises due to their numerous uses, such as the installation of floors, carpets, ceramic tiles, and glasses. Using HMA instead of staples and nails improves the visual appeal of the floor.

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Perspectives on the Product

More than 40% of 2020’s volume was accounted for by the Ethylene-Vinyl Acetate (EVA) market. When it comes to packaging, assembly, paper, and automotive industries, EVA is a copolymer adhesive. The segment’s growth is being fueled by excellent adhesion, mechanical strength, paraffin solubility, and superior flexibility.

From 2021 to 2028, revenue growth in the rubber industry is expected to be 5.4%. In the adhesion of pressure-sensitive products like labels, tapes, and graphics, the product is primarily used. Manufacturing can be completed more quickly and at a lower cost thanks to the product’s instant bonding. This is driving the market’s expansion.

When it comes to product assembling, polyolefin hot melts are a common choice. The high barrier properties, excellent chemical resistance, and low moisture permeability of the segment are the most important driving factors. It is because of these properties that these products are being used in the nonwoven product manufacturing and packaging industries that the market is growing.

In 2020, the packaging segment had a revenue share of more than 30%. As a result, HMA is widely used in the packaged goods sector. Closing the flaps of corrugated cardboard boxes and paperboard cartons is a common use for it. HMA is commonly used by electronic device manufacturers to attach components and wires in order to insulate and protect the device’s internal components.

PO Hot Melt Adhesives Market 2022 by Manufacturers, Regions, Type and Application, Forecast to 2028 |Jowat, Buhnen, Intercol, ExxonMobil Chemical, Tex Year Group, etc

Market share for each application of hot-melt adhesives around the world in 2020

There will be a significant increase in the nonwovens market between 2021 and 2028. Demand for nonwoven products, such as diapers, feminine hygiene products, and personal care products, is expected to increase in the coming years as a result of rising concerns about personal hygiene and increasing disposable income.

In order to adhere carpets, headliners, radiators, and batteries, automakers commonly use hot melt adhesives. Polyolefin is also used for the coating of electronic components and the insulation of wires, which has increased the demand for HMA in the automotive industry because of its safety, quality, and reliability.

Regional Perspectives

As of 2020, Asia Pacific was the region with the highest revenue share of more than 45.0 percent. Growth in e-commerce services in the region, coupled with a rapidly expanding market demand for nonwoven products, is the primary driver of market growth in the region. Since hot melt adhesives have such a wide range of uses, the competitive business is seeing an increase in opportunities as a result.

From 2021 to 2028, North America’s revenue is expected to grow at a CAGR of 4.3%. Due to the presence of major packaging manufacturers like International Paper, Ball Corporation, and Owens-Illinois in the region, the packaging sector is expected to be a major driver of market growth.

European economies are expected to grow steadily over the coming years. Western Europe’s developed countries, such as the United Kingdom, Germany and France will see a boost in market growth due to an increase in construction activities as well as an increase in online product delivery services.

Insights into the Biggest Players in the Industry

Market leaders are primarily focusing on regional expansion, acquisitions and high profit-margin sectors. There are numerous examples of companies acquiring other companies in the industry. For example, Meridian Adhesives Group, a leading manufacturer of hot-melt adhesives and coatings, purchased Prime Blend LLC in September 2021.

Huntsman Advanced Materials Solutions Private Limited (HAMSPL) was purchased by Pidilite Industries Ltd. for USD 257 million (Rs 2,100 crores) in October 2020 with the goal of expanding its product offering for DIY consumer adhesives. Because the market is growing, the company can benefit from it. Top players in this market include the following names:

  • Henkel AG & Co. KGaA
  • H.B. Fuller Company
  • Dow
  • Sika AG
  • Jowat SE
  • Arkema Group
  • Ashland
  • 3M
  • Avery Dennison Corporation
  • Beardow Adams

Segments Covered in the Report

Revenue and volume growth are predicted for 2017 to 2028 at the global, regional, and country levels in this report, which also provides an analysis of the most recent market trends and opportunities in each of the sub-segments. To better understand the global hot melt adhesives market, Grand View Research has divided it into three distinct segments: products, applications, and regions.

  • Product Outlook 
    • Ethylene-vinyl Acetate (EVA)
    • Polyurethane
    • Rubber
    • Polyolefin
    • Others
  • Application Outlook 
    • Packaging
    • Assembly
    • Woodworking
    • Automotive
    • Nonwovens
    • Others
  • Regional Outlook 
    • North America
      • U.S.
      • Canada
      • Mexico
    • Europe
      • Germany
      • France
      • U.K.
      • Italy
      • Spain
    • Asia Pacific
      • China
      • Japan
      • India
      • South Korea
    • Central & South America
      • Brazil
      • Colombia
      • Argentina
    • Middle East & Africa
      • GCC
Tags: #HotMeltAdhesivesMarket #HotMeltAdhesivesMarketTrend #HotMeltAdhesivesMarketGrowth #HotMeltAdhesivesMarketSize
Maria James

Maria James

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