Hot Melt Adhesives Market Size By Products (Ethylene Vinyl Acetate (EVA), Styrenic Block Copolymer (SBC), Amorphous Poly-Alpha-Olefin (AMOP), Metallocene Polyolefins (MPO), Polyurethane (PU), Polyamide (PA), Polyester), By Application (Packaging, Disposables, Pressure Sensitive Products, Book Binding, Furniture, Footwear, Automobile, Textile, Electronics, Healthcare, Manufacturing), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022 – 2028

Industry Overview

Hot Melt Adhesives Market size exceeded USD 12.25 billion in 2021 and is likely to grow at over 7% CAGR between 2022 and 2028. The growing applications of hot melt adhesives, primarily in hygiene, packaging, automobile, footwear, and electronics sectors, should drive the global market share.
 

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Hot melt adhesives are widely used in manufacturing multilayer laminates, which are generally used as food packaging materials. The rapidly growing Food & Beverage (F&B) sector in both developed & developing countries should augment the demand for packaging for tampering resistance and protection.
 

The shift in consumer preferences for low-price & convenience plastic products should further drive industry growth. The shifting pattern for the packaged food & beverages market from developed to developing countries, driven by rising disposable incomes and shifting consumer preferences, will favor business growth in Asia Pacific. Europe accounts for a significant share in the packaged food and beverages market powered by high per capita consumption in France, Germany, and the UK.
 

Increasing consumer awareness regarding the various benefits of EVA hot melt adhesives such as versatility & dependability should trigger product demand

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EVA hot melt products have a wide application scope in woodworking, automobile, and paper industries due to their dependability, intact adhesion, versatility & durability. These adhesives are specially developed to adhere to paper stock, aqueous coating, paper, and waxes, thereby promoting their uses in the packaging industry for labeling, carton sealing, plastic films & card stock boxes.
 

EVA hot melt adhesives market surpassed USD 5.30 billion in 2021 and is likely to register a CAGR of over 7.5% from 2022 to 2028 owing to the shift in consumer preferences for well-packed products along with supporting FDA regulations regarding direct or indirect food contact. The rise in the awareness regarding harmful effects of high-VOC content, mainly in Asia Pacific may, stimulate the product demand in the automotive sector.
 

Increasing consumer concerns regarding personal hygiene to boost the market from pressure sensitive products application

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Pressure sensitive products is likely to surpass USD 1.40 billion in 2021 and should witness over 7% gains in the predicted timeframe. The increasing demand for baby diapers owing to the rising awareness toward hygiene and cleanliness accompanied with a rise in the disposable income of consumers will accelerate the SBC-based hot melt adhesives market growth. SBC products enhance the bonding of rubber & lycra rubber strands and adherence of elastic strands to polyolefin will increase their suitability for diaper manufacture.
 

SBC hot melt adhesives are essential feedstock for pressure sensitive products, such as labels and tapes, due to good heat resistance, high elongation, low temperature flexibility, and good adhesion even when solidified. In addition, a shift in consumer preferences toward the use of low VOC content products along with supporting government regulations will act as a contributing factor toward the rise in product demand.
 

Growing demand for packaging solution from the food & beverage and pharmaceutical sectors should accelerate the market from packaging application

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Hot melt adhesives are extensively used in diversified packaging applications such as paper board cartons & corrugated case sealings, plastic bottles, glass, and cans. Rubber-based adhesives are mainly used in food & beverage packaging and labelling owing to good adhesion & high intact through processing. The global labelling market was about 55 billion square meters in 2020 and is likely to witness a demand of over 63 billion square meters by 2025, primarily pertaining to the rise in pharmaceutical and food & beverage applications.
 

The growth in tape, film & label production and favorable EU regulations regarding food contact material safety, mainly in India, China & Europe, should favor product demand in packaging applications. Global hot melt adhesives market value from packaging applications should surpass USD 5.30 billion in the predicted timeframe.
 

Booming ecommerce sector and rising demand for cosmetics should support market growth in North America

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North America hot melt adhesives market size surpassed USD 3.45 billion in 2021 and is likely to register over 7% gains through 2028 owing to growing electronics, healthcare, and automotive industries. Hot melt adhesives possess high heat resistance, which increases their suitability for high-temperature applications such as insulation panels, vinyl gaskets, touchpads, and nameplates. Booming paper, board & packaging industries should further stimulate product demand on account of the rising demand for attractive cases for perfumes, cosmetics & pharmaceutical products.
 

Rise in online shopping trends has led to increase in shipping label, tapes and canton sealing requirements thereby stimulating regional growth. Supporting FDA regulations regarding food contact materials has led to increase in use of hot melt adhesives in food labelling and packaging. Rising packed food consumption owing to hectic lifestyle prominently in U.S should drive regional market size.
 

Mergers & acquisitions and Innovative product launches to be the primary business strategies adopted by key players

The global hot melt adhesives industry share is significantly consolidated and is comprised of various key players such as H.B. Fuller, Henkel, Arkema, 3M, Sika AG, Ashland and Dow Chemical Company. Major manufacturers are primarily engaged in various strategic initiatives which includes mergers & acquisitions, product launches and distribution partnerships to enhance competitive advantage.
 

For instance, in February 2021, Henkel Adhesive Technologies launched Technomelt Supra ECO, a new range of hot melt adhesives. Technomelt Supra ECO is developed using Affinity RE from Dow, a bio-based & high-performing polyolefin elastomer. This product launch should allow packaging manufacturers to achieve their sustainability objectives and boost Henkel’s competitiveness in the market.
 

In February 2022, Arkema announced the acquisition of Chinese company Shanghai Zhiguan Polymer Materials. which offers hot-melt adhesives to the consumer electronics sector. The strategic acquisition was aimed to expand the company’s engineering adhesives portfolio and accelerate growth in the Asian electronics market.
 

The hot melt adhesives market report includes in-depth coverage of the industry with estimates & forecast in terms of volume (Kilo Tons) and revenue in USD (Million) from 2022 to 2028 for the following segments:

By Product

• EVA
• SBC
• AMOP
• Metallocene MPO
• PU
• Polyamide
• Polyester
• Others

By Application

• Packaging
• Disposables
• PS Products
• Bookbinding
• Furniture
• Footwear
• Automobiles
• Textiles
• Electronics
• Healthcare
• Manufacturing
• Others

The above information has been provided for the following regions:

By Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Poland
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Malaysia
  • Thailand
  • Australia
• Latin America
  • Brazil
  • Argentina
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • South Africa
  • Tanzania
  • Kuwait