Hot Melt Adhesives Market Size, Type Analysis, Application Analysis, End-Use, Industry Analysis, Regional Outlook, Competitive Strategies And Forecasts, 2023-2032
- Report ID: ME_00124501
- Format: Electronic (PDF)
- Publish Type: Publish
- Number of Pages: 250
Market Snapshot
Source: Market Expertz
| Study Period | 2019-2032 |
| Base Year | 2023 |
| Forcast Year | 2023-2032 |
| CAGR | 6.08 |
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The Hot Melt Adhesives (HMA) Market size is estimated to grow at a CAGR of 6.78% between 2022 and 2032. The market size is forecast to increase by USD 2,345.67 million. The growth of the market depends on several factors, including the increasing demand for efficient and versatile bonding solutions, the growing adoption of hot melt adhesives in various industries, and the rising focus on sustainability and environmental regulations. Hot melt adhesives are thermoplastic materials that are applied in a molten state and solidify upon cooling, providing fast and strong bonds in applications such as packaging, woodworking, automotive, and electronics.
Hot Melt Adhesives (HMA) Market Overview:
Drivers:
One of the key factors driving the hot melt adhesives market growth is the increasing demand for efficient and versatile bonding solutions. Hot melt adhesives offer several advantages over traditional solvent-based adhesives, including fast curing time, high bond strength, and excellent adhesion to a wide range of substrates. These adhesives are widely used in industries such as packaging, where they provide efficient and reliable bonding for carton sealing, case and tray forming, and labeling applications. The growing demand for lightweight and sustainable packaging solutions, coupled with the need for improved production efficiency, drives the adoption of hot melt adhesives in the packaging industry.
Moreover, the growing adoption of hot melt adhesives in various industries is fueling the market. Hot melt adhesives find extensive applications in woodworking, automotive, electronics, and construction, among others. In the woodworking industry, hot melt adhesives are used for edge banding, profile wrapping, and assembly applications, offering superior bond strength and resistance to heat and moisture. In the automotive industry, hot melt adhesives are used for interior trim bonding, wire harnessing, and structural bonding, providing lightweight and durable bonding solutions. The versatility and performance of hot melt adhesives make them a preferred choice in these industries, driving market growth.
Trends:
A key trend shaping the hot melt adhesives market is the rising focus on sustainability and environmental regulations. Hot melt adhesives are solvent-free and do not emit volatile organic compounds (VOCs), making them environmentally friendly alternatives to solvent-based adhesives. The increasing awareness about the environmental impact of adhesives, coupled with stringent regulations on VOC emissions, drives the demand for hot melt adhesives. Manufacturers are developing eco-friendly formulations with renewable raw materials and recyclable packaging to meet the sustainability requirements of customers and regulatory bodies. The trend towards sustainable and green adhesives is expected to drive the market growth in the coming years.
Furthermore, there is a growing emphasis on product innovation and customization. Manufacturers are developing specialized hot melt adhesive formulations with tailored properties to meet specific industry requirements. For example, low-temperature hot melt adhesives are used in electronics assembly to prevent heat damage to sensitive components, while high-temperature hot melt adhesives are used in automotive applications for their superior heat resistance. The demand for customized hot melt adhesive solutions is driven by the need for improved performance, reliability, and efficiency in various industries.
Restraints:
One of the key challenges hindering the hot melt adhesives market growth is the limited bond strength on certain substrates. While hot melt adhesives offer excellent adhesion to many materials, they may not provide sufficient bond strength on certain low-surface-energy substrates, such as polyethylene and polypropylene. The adhesion performance of hot melt adhesives can be affected by factors such as surface preparation, substrate composition, and application conditions. However, advancements in adhesive technology and the development of specialized formulations are addressing these challenges and expanding the application scope of hot melt adhesives.
Hot Melt Adhesives (HMA) Market Segmentation By Application:
The packaging segment is estimated to witness significant growth during the forecast period. Hot melt adhesives are widely used in the packaging industry for various applications, including carton sealing, case and tray forming, labeling, and flexible packaging. These adhesives provide fast bonding, high bond strength, and excellent adhesion to different substrates, making them ideal for efficient and reliable packaging solutions. The increasing demand for lightweight and sustainable packaging, coupled with the need for improved production efficiency, drives the adoption of hot melt adhesives in the packaging segment.
The woodworking segment is also expected to contribute to the market growth. Hot melt adhesives are extensively used in woodworking applications such as edge banding, profile wrapping, and assembly. These adhesives offer superior bond strength, resistance to heat and moisture, and ease of application, making them suitable for bonding wood and wood-based materials. The growing demand for high-quality furniture, interior fittings, and construction materials drives the adoption of hot melt adhesives in the woodworking segment.
Hot Melt Adhesives (HMA) Market Segmentation By Type:
The ethylene vinyl acetate (EVA) segment is expected to dominate the market during the forecast period. EVA-based hot melt adhesives offer excellent adhesion, flexibility, and heat resistance, making them suitable for a wide range of applications. EVA adhesives find extensive use in packaging, woodworking, and non-woven applications, where their properties are highly valued. The EVA segment is driven by the demand for versatile and cost-effective bonding solutions that can meet the requirements of different industries.
Regional Overview:
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Asia Pacific is estimated to contribute significantly to the growth of the global hot melt adhesives market during the forecast period. The region has a large manufacturing base, with countries like China, India, and Japan being major consumers of hot melt adhesives. The increasing industrialization, urbanization, and infrastructure development drive the demand for hot melt adhesives in applications such as packaging, automotive, construction, and electronics. The region also has a growing emphasis on sustainability and environmental regulations, further supporting market growth.
North America is also expected to witness substantial growth in the hot melt adhesives market. The region has a strong presence of key market players, technological advancements, and a growing demand for efficient bonding solutions. The increasing adoption of hot melt adhesives in industries such as packaging, woodworking, and automotive drives the market in North America.
Hot Melt Adhesives (HMA) Market Customer Landscape:
The hot melt adhesives market industry report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Who are the Major Hot Melt Adhesives (HMA) Market Companies?
Companies are implementing various strategies, such as product launches, partnerships, mergers and acquisitions, and geographical expansion, to enhance their presence in the market.
Some of the major companies operating in the hot melt adhesives market include:
- Henkel AG & Co. KGaA
- H.B. Fuller Company
- 3M Company
- Bostik SA
- Sika AG
- Avery Dennison Corporation
- Arkema Group
- Jowat SE
- Beardow Adams Ltd.
- Dow Chemical Company
The research report also includes detailed analyses of the competitive landscape of the market and information about key market players. Data is qualitatively analyzed to categorize companies based on their market presence and strength.
Segment Overview:
The hot melt adhesives market report forecasts market growth by revenue at global, regional, and country levels and provides an analysis of the latest trends and growth opportunities from 2019 to 2032.
- Application Outlook (USD Million, 2019 - 2032)
o Packaging
o Woodworking
o Non-Woven
o Automotive
o Electronics
o Others
- Type Outlook (USD Million, 2019 - 2032)
o Ethylene Vinyl Acetate (EVA)
o Polyolefin
o Polyamide
o Polyurethane
o Others
- Geography Outlook (USD Million, 2019 - 2032)
o Asia Pacific
- China
- India
- Japan
o North America
- The U.S.
- Canada
o Europe
- Germany
- France
- K.
- Rest of Europe
o South America
- Brazil
- Argentina
- Rest of South America
o Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
TABLE OF CONTENTS: GLOBAL Asia-Pacific hot-melt adhesives MARKET
Chapter 1. MARKET SYNOPSIS
1.1. Market Definition
1.2. Research Scope & Premise`
1.3. Methodology
1.4. Market Estimation Technique
Chapter 2. EXECUTIVE SUMMARY
2.1. Summary Snapshot, 2016 – 2027
Chapter 3. INDICATIVE METRICS
3.1. Macro Indicators
Chapter 4. Asia-Pacific hot-melt adhesives MARKET SEGMENTATION & IMPACT ANALYSIS
4.1. Asia-Pacific hot-melt adhesives Segmentation Analysis
4.2. Industrial Outlook
4.3. Price Trend Analysis
4.4. Regulatory Framework
4.5. Porter’s Five Forces Analysis
4.5.1. Power Of Suppliers
4.5.2. Power Of Buyers
4.5.3. Threat Of Substitutes
4.5.4. Threat Of New Entrants
4.5.5. Competitive Rivalry
Chapter 5. Asia-Pacific hot-melt adhesives MARKET BY resin type SIGHTS & TRENDS
5.1. Segment 1 Dynamics & Market Share, 2019 & 2027
5.2 Ethylene Vinyl Acetate
5.2.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)
5.2.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)
5.3 Styrenic-butadiene Copolymers
5.3.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)
5.3.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)
5.4 Thermoplastic Polyurethane
5.4.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)
5.4.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)
Chapter 6. Asia-Pacific hot-melt adhesives MARKET BY End user INSIGHTS & TRENDS
6.1. Segment 2 Dynamics & Market Share, 2019 & 2027
6.2 Building and Construction
6.2.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)
6.2.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)
6.3 Paper
6.3.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)
6.3.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)
6.4 Board and Packaging
6.4.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)
6.4.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)
6.5 Woodworking and Joinery
6.5.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)
6.5.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)
6.6 Transportation
6.6.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)
6.6.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)
6.7 Footwear and Leather
6.7.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)
6.7.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)
6.8 Healthcare
6.8.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)
6.8.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)
6.9 Electronics
6.9.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)
6.9.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)
Chapter 7. Asia-Pacific hot-melt adhesives MARKET REGIONAL OUTLOOK
7.1. Asia-Pacific hot-melt adhesives Market Share By Region, 2019 & 2027
7.2. NORTH AMERICA
7.2.1. North America Asia-Pacific hot-melt adhesives Market Estimates And Forecast, 2016 – 2027, (USD Million)
7.2.2. North America Asia-Pacific hot-melt adhesives Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)
7.2.3. North America Asia-Pacific hot-melt adhesives Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)
7.2.4. North America Asia-Pacific hot-melt adhesives Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)
7.2.5. U.S.
7.2.5.1. U.S. Asia-Pacific hot-melt adhesives Market Estimates And Forecast, 2016 – 2027, (USD Million)
7.2.5.2. U.S. Asia-Pacific hot-melt adhesives Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)
7.2.5.3. U.S. Asia-Pacific hot-melt adhesives Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)
7.2.5.4. U.S. Asia-Pacific hot-melt adhesives Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)
7.2.6. CANADA
7.2.6.1. Canada Asia-Pacific hot-melt adhesives Market Estimates And Forecast, 2016 – 2027, (USD Million)
7.2.6.2. Canada Asia-Pacific hot-melt adhesives Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)
7.2.6.3. Canada Asia-Pacific hot-melt adhesives Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)
7.2.6.4. Canada Asia-Pacific hot-melt adhesives Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)
7.3. EUROPE
7.3.1. Europe Asia-Pacific hot-melt adhesives Market Estimates And Forecast, 2016 – 2027, (USD Million)
7.3.2. Europe Asia-Pacific hot-melt adhesives Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)
7.3.3. Europe Asia-Pacific hot-melt adhesives Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)
7.3.4. Europe Asia-Pacific hot-melt adhesives Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)
7.3.5. GERMANY
7.3.5.1. Germany Asia-Pacific hot-melt adhesives Market Estimates And Forecast, 2016 – 2027, (USD Million)
7.3.5.2. Germany Asia-Pacific hot-melt adhesives Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)
7.3.5.3. Germany Asia-Pacific hot-melt adhesives Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)
7.3.5.4. Germany Asia-Pacific hot-melt adhesives Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)
7.3.6. FRANCE
7.3.6.1. France Asia-Pacific hot-melt adhesives Market Estimates And Forecast, 2016 – 2027, (USD Million)
7.3.6.2. France Asia-Pacific hot-melt adhesives Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)
7.3.6.3. France Asia-Pacific hot-melt adhesives Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)
7.3.6.4. France Asia-Pacific hot-melt adhesives Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)
7.3.7. U.K.
7.3.7.1. U.K. Asia-Pacific hot-melt adhesives Market Estimates And Forecast, 2016 – 2027, (USD Million)
7.3.7.2. U.K. Asia-Pacific hot-melt adhesives Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)
7.3.7.3. U.K. Asia-Pacific hot-melt adhesives Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)
7.3.7.4. U.K. Asia-Pacific hot-melt adhesives Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)
7.4. ASIA-PACIFIC
7.4.1. Asia Pacific Asia-Pacific hot-melt adhesives Market Estimates And Forecast, 2016 – 2027, (USD Million)
7.4.2. Asia Pacific Asia-Pacific hot-melt adhesives Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)
7.4.3. Asia Pacific Asia-Pacific hot-melt adhesives Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)
7.4.4. Asia Pacific Asia-Pacific hot-melt adhesives Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)
7.4.5. CHINA
7.4.5.1. China Asia-Pacific hot-melt adhesives Market Estimates And Forecast, 2016 – 2027, (USD Million)
7.4.5.2. China Asia-Pacific hot-melt adhesives Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)
7.4.5.3. China Asia-Pacific hot-melt adhesives Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)
7.4.5.4. China Asia-Pacific hot-melt adhesives Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)
7.4.6. INDIA
7.4.6.1. India Asia-Pacific hot-melt adhesives Market Estimates And Forecast, 2016 – 2027, (USD Million)
7.4.6.2. India Asia-Pacific hot-melt adhesives Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)
7.4.6.3. India Asia-Pacific hot-melt adhesives Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)
7.4.6.4. India Asia-Pacific hot-melt adhesives Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)
7.4.7. JAPAN
7.4.7.1. Japan Asia-Pacific hot-melt adhesives Market Estimates And Forecast, 2016 – 2027, (USD Million)
7.4.7.2. Japan Asia-Pacific hot-melt adhesives Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)
7.4.7.3. Japan Asia-Pacific hot-melt adhesives Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)
7.4.7.4. Japan Asia-Pacific hot-melt adhesives Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)
7.4.8. AUSTRALIA
7.4.8.1. Australia Asia-Pacific hot-melt adhesives Market Estimates And Forecast, 2016 – 2027, (USD Million)
7.4.8.2. Australia Asia-Pacific hot-melt adhesives Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)
7.4.8.3. Australia Asia-Pacific hot-melt adhesives Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)
7.4.8.4. Australia Asia-Pacific hot-melt adhesives Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)
7.5. MIDDLE EAST AND AFRICA (MEA)
7.5.1. Mea Asia-Pacific hot-melt adhesives Market Estimates And Forecast, 2016 – 2027, (USD Million)
7.5.2. Mea Asia-Pacific hot-melt adhesives Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)
7.5.3. Mea Asia-Pacific hot-melt adhesives Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)
7.5.4. Mea Asia-Pacific hot-melt adhesives Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)
7.6. LATIN AMERICA
7.6.1. Latin America Asia-Pacific hot-melt adhesives Market Estimates And Forecast, 2016 – 2027, (USD Million)
7.6.2. Latin America Asia-Pacific hot-melt adhesives Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)
7.6.3. Latin America Asia-Pacific hot-melt adhesives Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)
7.6.4. Latin America Asia-Pacific hot-melt adhesives Market Estimates And Forecast By Production Process, 2016 –2027, (USD Million)
7.6.5. Latin America Asia-Pacific hot-melt adhesives Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)
Chapter 8. COMPETITIVE LANDSCAPE
8.1. Market Share By Manufacturers
8.2. Strategic Benchmarking
8.2.1. New Product Launches
8.2.2. Investment & Expansion
8.2.3. Acquisitions
8.2.4. Partnerships, Agreement, Mergers, Joint-Ventures
8.3. Vendor Landscape
8.3.1. North American Suppliers
8.3.2. European Suppliers
8.3.3. Asia-Pacific Suppliers
8.3.4. Rest Of The World Suppliers
Chapter 9. COMPANY PROFILES
9.1 3M
9.1.1. Company Overview
9.1.2. Financial Performance
9.1.3. Product Insights
9.1.4. Strategic Initiatives
9.2 Arkema Group
9.2.1. Company Overview
9.2.2. Financial Performance
9.2.3. Product Insights
9.2.4. Strategic Initiatives
9.3 Dow
9.3.1. Company Overview
9.3.2. Financial Performance
9.3.3. Product Insights
9.3.4. Strategic Initiatives
9.4 Henkel AG & Co
9.4.1. Company Overview
9.4.2. Financial Performance
9.4.3. Product Insights
9.4.4. Strategic Initiatives
9.5 KGaA
9.5.1. Company Overview
9.5.2. Financial Performance
9.5.3. Product Insights
9.5.4. Strategic Initiatives
9.6 Sika AG
9.6.1. Company Overview
9.6.2. Financial Performance
9.6.3. Product Insights
9.6.4. Strategic Initiatives
9.7 Company 7
9.7.1. Company Overview
9.7.2. Financial Performance
9.7.3. Product Insights
9.7.4. Strategic Initiatives
9.8 Company 8
9.8.1. Company Overview
9.8.2. Financial Performance
9.8.3. Product Insights
9.8.4. Strategic Initiatives
9.9 Company 9
9.9.1. Company Overview
9.9.2. Financial Performance
9.9.3. Product Insights
9.9.4. Strategic Initiatives
9.10 Company 10
9.10.1. Company Overview
9.10.2. Financial Performance
9.10.3. Product Insights
9.10.4. Strategic Initiatives
RESEARCH METHODOLOGY
A research methodology is a systematic approach for assessing or conducting a market study. Researchers tend to draw on a variety of both qualitative and quantitative study methods, inclusive of investigations, survey, secondary data and market observation.
Such plans can focus on classifying the products offered by leading market players or simply use statistical models to interpret observations or test hypotheses. While some methods aim for a detailed description of the factors behind an observation, others present the context of the current market scenario.
Now let’s take a closer look at the research methods here.
Secondary Research Model
Extensive data is obtained and cumulated on a substantial basis during the inception phase of the research process. The data accumulated is consistently filtered through validation from the in-house database, paid sources as well reputable industry magazines. A robust research study requires an understanding of the overall value chain. Annual reports and financials of industry players are studied thoroughly to have a comprehensive idea of the market taxonomy.
Primary Insights
Post conglomeration of the data obtained through secondary research; a validation process is initiated to verify the numbers or figures. This process is usually performed by having a detailed discussion with the industry experts.
However, we do not restrict our primary interviews only to the industry leaders. Our team covers the entire value chain while verifying the data. A significant number of raw material suppliers, local manufacturers, distributors, and stakeholders are interviewed to make our findings authentic. The current trends which include the drivers, restraints, and opportunities are also derived through the primary research process.
Market Estimation
The market estimation is conducted by analyzing the data collected through both secondary and primary research. This process involves market breakdown, bottom-up and top- down approach.
Moreover, while forecasting the market a comprehensive statistical time series model is designed for each market. Macroeconomic indicators are considered to understand the current trends of the market. Each data point is verified by the process of data triangulation method to arrive at the final market estimates.
Final Presentation
The penultimate process results in a holistic research report. The study equips key industry players to undertake significant strategic decisions through the findings. The report encompasses detailed market information. Graphical representations of the current market trends are also made available in order to make the study highly comprehensible for the reader.
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