According to a new research report by Global Market Insights Inc., the hot melt adhesives market size is set to surpass USD 16.1 billion by 2027. HMA is a glue that provides long shelf life and does not require special precaution after product applications which should foster product market growth.
HMA does not lose thickness while drying process which is well suited for padding application in footwear. High molecular weight of HMA polymer chain provides high heat resistance and high tensile strength which have wide application in automobile industry. Furthermore, the product is water and solvent resistant owing to its application in textile industry which provides resistance to dry cleaning solvents and should foster the hot melt adhesives market growth.
Increasing demand for Styrenic block Copolymer from automotive industry should augment the business growth
Styrenic block copolymer type HMA witnessed a consumption of over 315 tons in 2020, which is likely to witness substantial rise up to 2027. The Styrenic block copolymers are also known as rubber adhesives which offer high temperature flexibility, high heat resistance and high elongation for their application as pressure sensitive adhesive. The product is widely used for pressure sensitive applications in automotive interior assembly, HVAC duct work and safety labels on power equipment which should augment the hot melt adhesives market share.
Increased cohesion and water resistance offered by Styrenic block copolymer enhance its application as pressure sensitive adhesive. The Styrenic block copolymer based HMA is used in manufacture of light-weight goods and materials which should raise the product demand from automotive industry. The styrenic block copolymer based HMA is widely used in wire fixing and plastic fabric lamination which represents growth opportunities for hot melt adhesives market.
Browse key industry insights spread across 310 pages with 215 market data tables and 45 figures & charts from the report, “Hot Melt Adhesives (HMA) Market By Type (Ethylene Vinyl Acetate (EVA), Styrenic Block Copolymer (SBC), Amorphous poly-alpha-olefin (AMOP), Metallocene Polyolefins (MPO), Polyurethane (PU), Polyamide (PA), Polyester), By Application ( Pressure sensitive products, Packaging, Disposables, Book Binding, Furniture, Footwear, Automobile, Textile, Automobiles, Electronics) Industry Analysis Report, Regional Outlook, Growth Potential, Price Trend, Competitive Market Share & Forecast, 2021 – 2027” in detail along with the table of contents:
Growing consumer demand for furniture and other woodwork for interior application should stimulate the growth of HMA market.
Furniture application segment should exceed USD 965 million up to 2027. Rising disposable income along with increasing consumer demand for premium furniture is expected to raise hot melt adhesives market growth for furniture application. HMA offers a strong bond to wood, porous and non-porous substrates owing to its wide demand for furniture application. The growing trend for modernized interior designs should foster growth of the furniture industry.
Polyamide HMA is used for woodwork owing to its enhanced application on hard wearing surfaces and low viscosity which is used for flooring and laminating. Polyolefin HMA is used for general purpose adhesive in woodworking including work on cardboard, plastic, metal and glass which is expected to raise the hot melt adhesives market value. HMA is used to fill gaps, wood to wood bonding with benefits such as high durability and low viscosity.
“As per industry forecasts, automobile applications segment should register gains over 6.6% by 2027, pertaining to increasing demand for pressure sensitive hot melt adhesives”
Rising investments in infrastructure and rapidly expanding packaging industry should drive HMA demand in Asia Pacific
Asia Pacific should exceed USD 5.5 billion up to 2027 and is predicted to witness significant growth in the review period. Significant economic growth in the region and rising consumer demand for residential infrastructure should raise demand for furniture and other woodwork which should stimulate the hot melt adhesives market. The product is widely used for wall sheet application, lamination and other wood flooring work which should stimulate HMA demand in the region. Asia Pacific region is witnessing demand for home improvement and modernized home solutions.
Asia Pacific is driven by developing markets including China, Japan and India which has high packaging demand and should boost the HMA demand. HMA is superior to water adhesive and provides resistance to water with faster setting time which has raised demand for the product from packaging industry. HMA withstands high temperature and provides heat resistance and has high demand for packaging application which should raise the hot melt adhesives market demand in the Asia Pacific. Growing government regulation for packaging along with rising demand for easy and convenient packing should accelerate growth of packaging sector.
“As per market estimates, hot melt adhesive industry size in North America should register over 6.7% gains by 2027, pertaining to rising demand for the product from packaging industry”
The global hot melt adhesive industry is fragmented and comprises various companies such as 3M Company, Jowat SE, Henkel AG & Company, Dow Corning, Arkema, Sika AG and Beardow & Adams. Companies are increasingly involved in entering into agreements and partnerships with other industry players and distributors to further improve their position in the Hot Melt Adhesives Market.
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