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The latest report by IMARC, titled “ HotMeltAdhesiveMarket:GlobalIndustryTrends,Share,Size,Growth,OpportunityandForecast20 23-2028
” " the global hot melt adhesive market reached a value of US$ 7.6 Billion in 2022.
Hot melt adhesives refer to thermoplastic adhesives that are commonly non-volatile in nature. They are solid formulations under normal temperatures but turn into liquids upon being heated above their softening point. They are commonly manufactured by blending thermoplastics with waxes, plasticizers, fillers, resins, and antioxidants, with the help of numerous processes, such as extrusion, screen printing, melt blowing, spiral spraying, and slot die coating.
They are widely used to form instantaneous bonds and minimize product weight while enhancing the overall product appearance. As a result, they find extensive applications across numerous industry verticals, including textile, packaging, automotive, and consumer electronics.
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The global market is majorly driven by considerable growth in the textile sector. Hot melt adhesives are widely used in the sector for forging durable bonds in moisture-resistant textiles that are generally pre-treated with hydrophobic polymers. Moreover, the increasing utilization of these adhesives in the packaging industry for assembling, sealing, and labeling corrugated boxes and paperboard cartons is also providing an impetus to the market growth. This is further supported by the growing preference for corrugated packaging across the food and beverages industry since they are sustainable and affordable in nature.
Furthermore, these adhesives are increasingly being used in the automotive industry for trunk lining, emblem attachment, seat assembly, and air filter attachments. Significant growth in the automotive sector is creating a positive outlook for the market. Some of the other factors contributing to the market include the rising demand for fully-assembled and laminated furniture and the launch of advanced product variants that offer high heat resistance, UV protection, and excellent binding strength. On account of the aforementioned factors, the market is expected to grow at a CAGR of 5.3% during 2023-2028.
Looking forward, the market value is projected to reach a strong growth during the forecast period (2023-2028).
MarketSummary:
BreakupbyResinType:
• Ethylene Vinyl Acetate (EVA)
• Styrenic Block Copolymers (SBC)
• Mettalocene Polyolefin (MPO)
• Amorphous Polyalphaolefins (APAO)
• Polyolefins
• Polyamides
• Polyurethane (PU)
• Others
BreakupbyApplication:
• Packaging
• Automotive
• Printing and Publishing
• Furnitures and Woodwork
• Textiles
• Electronics
• Construction
• Others
BreakupbyProductForm:
• Pellets
• Blocks
• Glue Sticks
• Others
BreakupbyRegion:
• North America
• United States
• Canada
• Asia Pacific
• China
• Japan
• India
• South Korea
• Australia
• Indonesia
• Others
• Europe
• Germany
• France
• United Kingdom
• Italy
• Spain
• Russia
• Others
• Latin America
• Brazil
• Mexico
• Others
• Middle East and Africa
CompetitiveLandscapewithKeyPlayers:
• 3M Company
• Arkema S.A.
• Ashland Global Holdings Inc.
• Avery Dennison Corporation
• Beardow & Adams Ltd.
• Dow Inc.
• H.B. Fuller Company
• Henkel AG & Co. KGaA
• Jowat SE
• Paramelt B.V.
• Sika AG
• Wacker Chemie AG.
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