The global hot melt adhesives market size is expected to reach USD 13.75 Billion in 2030 and register a revenue CAGR of 6.9% over the forecast period, according to latest report by Reports and Data. Rising demand for hot melt adhesives for Do It Yourself (DIY) art and craft projects, and increasing adoption of these adhesives for lamination of wooden panels and kitchen countertops are expected to drive market revenue growth during the forecast period. Increasing adoption of hot melt adhesives in the footwear industry is also expected to boost growth of the global hot melt adhesives market in near future.
Hot melt adhesives help to decrease the fume or yellow coloring caused by over-heating, and polyolefin-based hot melt adhesives provide high penetration and strong bond to various materials, especially in footwear assembly. Hot melt adhesives are also used in various applications during the manufacturing process of footwear, such as lamination of shoe vamp, bonding of counter and insole, and foam pasting, which is another major factor to increase demand for hot melt adhesives in the footwear industry. Additionally, increasing usage of hot melt adhesives for lamination of furniture and wooden products to provide a strong bond with the fabric attached to the furniture is also expected to drive revenue growth of the market.
However, challenges in using hot melt adhesives for finishing of a product and spoilage are some factors that could hamper revenue growth of the market during the forecast period. Unlike other water-based adhesives that get soaked into the substrate, hot melt adhesives, such as polyurethane, stay on the surface of materials leading to the creation of bond lines. This could be aesthetically unappealing and also affect the product or packaging itself, thereby creating challenges in providing finishing to the product and causing spoilage. This is expected to restrain adoption of hot melt adhesives to some extent and thus, limit revenue growth of the market.
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Companies profiled in the global market report include The 3M Company, Arkema S.A, Dow Silicones Corporation, H.B Fuller Company, Henkel AG Company KGaA, Jowat SE, Beardow Adams (Adhesives) Limited, Sika AG, Avery Dennison Corporation, and Ashland Global Specialty Chemicals, Inc.
Some Key Highlights in the Report
- Ethylene-vinyl Acetate (EVA) segment is expected to account for a larger revenue share over the forecast period. Rising adoption of ethylene-vinyl acetate for padding sports equipment, such as bicycle saddles, boxing pads, hockey pads, helmets, and others, by sports equipment manufacturers is increasing demand for ethylene-vinyl acetate, which is expected to boost revenue growth of the segment.
- Packaging solutions segment is expected to account for largest revenue share in the global hot melt adhesives market between 2023 and 2030. Rising need for proper packaging solutions for products to protect their contents from any damage during transportation, handling, and storage is driving revenue growth of the segment. Packaging helps in keeping a product intact throughout its logistics chain from manufacturer to the end user, and this is leading to increasing adoption of better sealing for products, which is expected to boost growth of the segment.
- Asia-Pacific hot melt adhesives market is expected to account for largest revenue share in the global market over the forecast period. Rapid growth of the packaging industry in countries in the region is expected to drive market revenue growth. Rising demand for non-woven hygiene products is another major factor that is expected to drive revenue growth of the hot melt adhesives market in Asia-Pacific.
- In November 2021, Sika AG announced signing of an agreement to acquire MBCC Group, the former BASF Construction Chemicals, to boost its growth strategy and strengthen its position as a worldwide construction industry sustainability leader.
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For this report, Reports and Data has segmented the global hot melt adhesives market based on resin type, application, and region:
- Resin Type Outlook (Revenue, USD Billion, Volume, Kilo Tons; 2019-2030)
- Styrenic Block Copolymers
- Ethylene-vinyl Acetate (EVA)
- Amorphous Poly-alpha-olefin (APAO)
- Polyurethane (PU)
- Application Outlook (Revenue, USD Billion, Volume, Kilo Tons; 2019-2030)
- Nonwoven Hygiene
- Furniture Wooden Work
- Packaging Solutions
- Regional Outlook (Revenue, USD Billion, Volume, Kilo Tons; 2019-2030)
- North America
- Rest of Europe
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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Key questions covered in the global Hot Melt Adhesives market report:
- What is the expected market size of the global Hot Melt Adhesives market during the forecast period?
- What factors are expected to hamper global Hot Melt Adhesives market growth over the forecast period?
- What key factors are expected to drive global revenue growth between 2021 and 2028?
- Which application segment is expected to dominate other application segments over the forecast period?
- Which region is expected to dominate in terms of revenue during the forecast period?
- What are the key outcomes of Porter’s Five Forces analysis and SWOT analysis?
- Which leading players are operating in the global Hot Melt Adhesives market?
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