Hot Melt Adhesives Market - By Products (Ethylene Vinyl Acetate, Polyurethane, Polyamide, Polyester), By Application (Packaging, Disposables, Book Binding, Furniture, Footwear, Automobile, Textile, Electronics, Healthcare, Manufacturing) & Forecast, 2023-2032

Hot Melt Adhesives Market Size

Hot Melt Adhesives Market size was worth more than USD 12.5 billion in 2022 and is projected to expand at 7.5% CAGR between the forecast years 2023-2032. Intensifying applications of hot melt adhesives in the packaging, automobile, electronics, and footwear sectors should drive market growth. These adhesives are widely used in manufacturing multilayer laminates that are used for packaging food materials.
 

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Expansive growth in the food & beverage (F&B) sector of both developed & developing countries should augment the demand for packaging solutions. The shift in consumer preferences for affordable & convenience plastic products should drive industry expansion in Asia Pacific. While Europe accounts for a significant share in the packaged F&B sector powered by high per capita consumption in Germany, France, and the UK.
 

Hot melt adhesives (HMAs) are thermoplastic materials that are applied in a molten state and then solidify upon cooling to form a bond. Styrenic Block Copolymer (SBC) is a popular polymer used in the production of HMAs due to its excellent adhesion, flexibility, and heat resistance. The demand for HMAs for SBC has been increasing in recent years due to several factors. One of the main drivers is the growing demand for sustainable and eco-friendly adhesive solutions. SBC-based HMAs are a more environmentally friendly option compared to solvent-based adhesives, which release harmful volatile organic compounds (VOCs) into the atmosphere.
 

Poor mechanical properties of hot melt adhesives compared to peers will impact market growth. Limited strength and heat resistance are a few of the drawbacks that can make hot melt adhesives unsuitable for certain applications. These adhesives do not operate well under extreme heat. Factors like limitations in performance, poor chemical resistance, insufficient heat resistance, and limited bonding strength could impact product use in diverse applications.

Hot melt adhesives are increasingly being used in the automotive industry due to their superior bonding properties, ease of use, and cost-effectiveness compared to traditional mechanical fasteners such as bolts and screws. Here are some of the uses of hot melt adhesives in automobiles. Hot melt adhesives are also used in structural bonding applications, such as bonding body panels and other components. They can provide high strength bonds that are resistant to vibration and impact. Hot melt adhesives are commonly used to bond interior components such as door panels, headliners, and instrument panels. They provide strong and durable bonds and can also reduce the weight of the vehicle by eliminating the need for metal fasteners.
 

Hot Melt Adhesives Market Analysis

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Hot melt adhesives market share from the EVA segment is anticipated to register over 8% CAGR through 2032. EVA (ethyl vinyl acetate) hot melt adhesives have a wide-ranging application in the woodworking, paper, and automobile sectors. The product exhibit features like dependability, versatility & durability, and intact adhesion. EVA adhesives are specially developed to adhere to aqueous coating, paper stock, paper, and waxes. This makes its use vital in the packaging sector for carton sealing, labeling, plastic films & card stock boxes. A shift in consumer preferences for well-packed products may stimulate product demand. 
 

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Hot melt adhesives market share from the packaging application is estimated to surpass USD 7.5 billion by 2032. These adhesives are extensively used in a wide range of packaging applications such as corrugated case sealings, paper board cartons, plastic bottles, glass, and cans. Rubber-based adhesives are mainly used in the food and beverage sector for packaging and labeling solutions due to its good adhesion & high intact through processing.
 

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North America hot melt adhesives market size is expected to register over 8% CAGR between forecast period of 2023-2032. The electronics, healthcare, and automotive sectors across the region have observed robust growth in recent years. Hot melt adhesives are used by these industries for their high heat resistance, which increases their suitability for high-temperature applications such as insulation panels, vinyl gaskets, touchpads, and nameplates.
 

Rise in online shopping trends has led to an increase in shipping label, tapes and canton sealing requirements thereby stimulating regional market growth. Supportive FDA regulations related to food contact materials will drive increase use of hot melt adhesives in food labelling and packaging solutions. Furthermore, rising purchase of packed food products across countries like the U.S will drive regional market statistics.
 

Hot Melt Adhesives Market Share

Some of the leading companies operating in the global hot melt adhesives industry include:

• Henkel AG & Co
• KgaA, Ashland Inc
•  Arkema Group
•  HB Fuller
•  Sika AG
•  3M
•  Dow Chemical Company
•  Avery Dennison Corporation
•  Jowat Klebstoffe
•  Palmetto Adhesives Company
•  Applied Adhesives
•  Power Adhesives Ltd
•  Hexcel Corporation
•  Worthen Industries
•  Huntsman Corporation
•  Beardow & Adams Ltd
•  Sealock Ltd
•  Sipol SpA Societa Italiana Polimeri
•  Grupodesa
•  Tex Year Industries Inc, and Cattie Adhesives.
   

Impact of COVID-19 pandemic

The COVID-19 pandemic had a positive impact on the global market growth. Strict lockdown restrictions imposed across nations worldwide led to a rise in e-commerce sales and the demand for packaging solutions. Robust demand for medical and pharmaceutical products during the outbreak accelerated the demand for hot melt adhesives for manufacturing medical packaging solutions. With the lifting of lockdown measures and revival of manufacturing activities, hot melt adhesives are expected to witness lucrative demand in the automobile and electronics sectors in the years to come.
 

The hot melt adhesives market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Kilo Tons and revenue in USD Million from 2018 to 2032 for the following segments:

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By Product

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

The above information is provided on a regional and country basis for the following:

• 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