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Global Hot Melt Adhesives Market size worth over USD 19.35 billion by 2028

  • Published Date: June 24, 2022

According to a new research report by Global Market Insights Inc., the global Hot Melt Adhesives Market size is set to surpass USD 19.35 billion by the end of 2028 owing to the increasing R&D spending and new polymer-based product developments.

The supporting government norms, led by EPA and REACH, regarding the use of ecofriendly products are likely to fuel product demand mainly in the Europe & North America markets. These products are approved as alternative environment-friendly technology by the EPA regulations.

The declining bond strength at extreme temperatures, which can lead to undesirable stiffness of viscosity, may hamper the hot melt adhesives market expansion. However, strong government spending and new opportunities for new adhesive manufacturers should trigger market growth. Technological advancements and new product innovations have led to growth in various industries including packaging, construction, automotive, medical, and footwear.

Booming packaging sector primarily owing to ecommerce expansion should support the growth of Metallocene Polyolefins (MPO)

Metallocene Polyolefins (MPO) hot melt adhesives find extensive adoption in packaging applications for tray sealing, carton closing, heat-resistant carton closing, shoe box forming, and gift box assembly. The rise in technological advancements along with growing emphasis on safe, durable & reliable packaging may drive product demand. However, high market prices and lack of awareness in comparison to EVA adhesives may hamper industry growth. In 2021, MPO hot melt adhesives market size exceeded USD 2.20 billion.

Metallocene is widely used in packaging applications for tray sealing, carton closing, heat-resistant carton closing, shoe box forming, and gift box assembly. These wide applications of metallocene will fuel market growth over the predicted period. The rapidly developing packaging sector across developing countries, including China, India, and Brazil offers market growth opportunities for the metallocene polyolefins hot melt adhesives market. Most of this growth has come from less developed markets, as more consumers move to urban locations and are subsequently adopting westernized lifestyles. This has boosted the requirement for packaged goods, which has been accelerated by the e-commerce industry.

Browse key industry insights spread across 350 pages with 223 market data tables and 52 figures & charts from the report, “Hot Melt Adhesives Market 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 – 2028in detail along with the table of contents:

Growing consumer awareness for personal hygiene should drive the market with regards to disposables application

Styrene block copolymer and amorphous poly-alpha olefin hot melt adhesives find widespread uses in the hygiene industry. Whereas the hygiene industry is witnessing phenomenal growth since the past few years as a result of improved living standards and the growth in public attention toward women’s health.

Moreover, hygiene disposables contain a large number of fabric layers to impart high moisture absorption, which essentially require large volumes of these adhesives to bind them together. The growing number of domestic & international manufacturers and increasing health awareness along with government initiatives toward feminine hygiene will drive the disposable goods industry.

These adhesives are widely used to manufacture various disposable hygienic products including feminine care products, adult incontinence, and baby diapers. Whereas hygiene adhesives must possess a high degree of adhesion as they are applied in stripes or spray patterns, increasing the product demand. Global hot melt adhesives market with respect to disposables application should reach over USD 3.90 billion by the end of 2028.

Growing prevalence of diseases and rising healthcare spending to fuel the business growth from healthcare

Hot melt adhesives market size regarding healthcare applications should reach over USD 1.55 billion by 2028. The increasing use of these products across the healthcare sector, primarily for the commercial production of medical tapes & pads, medical plaster, and adhesive bandage, is booting market growth. The surging demand for safe & excellent-quality adhesives has accelerated the hot melt adhesives demand in the healthcare sector over the past few years. The rapidly booming healthcare sector across both developed and developing countries offers a wide consumer base for hot melt adhesive manufacturers.

The rising prevalence of diseases, growing number of surgeries, and high healthcare spending have propelled product demand from medical equipment, devices, and supplies. This trend is projected to accelerate the requirement for essential materials used in the production of medical equipment & devices, boosting the need for hot melt adhesives over the forecast period. Surgeries include amputations & incisions and are a primary cause of wounds. Many pre-or post-surgery cases need the placement of infusions & catheters in patients. Medical tapes are used during the surgical procedure to secure infusion lines, for wound dressings, and treat wounds.

Growing adoption in various sectors such as footwear, automotive & packaging should boost market in Europe

Europe hot melt adhesives market should exceed USD 4.65 billion from 2022 to 2028 owing to the increasing requirement from the converting, food processing, and infrastructure industries, which represents tremendous growth opportunities for hot melt adhesives. Awareness of the harmful impacts of VOC is comparatively high in the region.

The shifting consumer preferences from high-VOC adhesives to advanced hot melt adhesives with low VOC content are likely to influence regional growth. The increasing application scope in footwear, packaging, automotive, hygiene, and bookbinding should drive the Europe hot melt adhesives market.

The hot melt adhesives industry is consolidated and includes various major manufacturers such as Henkel, Sika AG, Dow Chemicals, H. B. Fuller, Arkema and 3M. Companies are adopting various strategic agreements such as distribution partnerships, product development, mergers, and acquisitions to achieve market leadership.

Authors: Kunal Ahuja, Sarita Bayas