Hot Melt Adhesives Market Report: Size, Share, Forecasts, and Trends
Meticulous Research® has unveiled its comprehensive report titled Hot Melt Adhesives Market by Type (EVA, Polyolefin, Polyurethane, Others), Form (Solid, Granular/Powder, Others), End-use Industry (F&B, Automotive, Electronics, Home Decor, Consumer Goods, Textile, Others), and Geography - Global Forecast to 2031.
The report projects that the hot melt adhesives market will grow to $12.8 billion by 2031, achieving a CAGR of 5.1% from 2024 to 2031. This anticipated growth is largely driven by innovations in raw materials and heightened demand for packaging solutions. Nonetheless, the market faces constraints due to the relatively lower thermal resistance of hot melt adhesives.
Opportunities for growth include the rise of eco-friendly hot melt adhesives and their expanding role in non-woven applications. However, the escalation in raw material costs remains a significant hurdle.
Market segmentation by type includes ethylene vinyl acetate (EVA), polyamide (PA), polyurethane, polyolefin, styrenic block copolymers (SBCs), amorphous poly alpha olefins (APAO), metallocene, and other types. In 2024, EVA is projected to hold a dominant market share of over 39.0%. This is due to EVA’s excellent adhesion, versatility, and growing use in industries such as packaging, mattress production, woodworking, and automotive applications.
EVA is favored for its superior adhesive properties and adaptability. With advancements in technology and manufacturing techniques, the outlook for EVA hot melt adhesives is optimistic. Manufacturers are focused on improving EVA’s performance, including enhancing temperature resistance and surface adhesion.
The market is further segmented by form into solid, granular/powder, and viscous liquid. The solid form is expected to dominate with over 42.0% of the market share in 2024. Solid hot melt adhesives offer advantages such as ease of dispensing, extended shelf life, minimal waste, and no need for mixing or special equipment. This segment is also projected to grow at the fastest rate during the forecast period.
In terms of end-use industry, the market is divided into automotive, electronics, home decor, textile, food & beverage, healthcare & pharmaceutical, consumer goods, construction, fashion & apparel, manufacturing, and others. The food & beverage sector is expected to represent over 33.0% of the market share in 2024 due to increasing packaging demands and the development of sustainable, bio-based hot melt adhesives.
Conversely, the automotive segment is forecasted to achieve the highest CAGR, driven by the increasing use of hot melt adhesives in high-speed production lines and vehicle component assembly.
Geographically, the market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Asia-Pacific is anticipated to command over 48.0% of the market share in 2024, attributed to rapid industrial development, a strong presence of automotive and furniture manufacturers, and a rising demand for hot melt adhesives. This region is also expected to grow at the highest CAGR of 6.5%, fueled by increased demand for packaging, labeling, and textile applications and a focus on sustainability.
Key Players:
Some of the key players operating in the hot melt adhesives market are H.B. Fuller Company (U.S.), 3M Company (U.S.), Jowat SE (Germany), Henkel AG & Co. KGaA (Germany), Arkema (France), The Dow Chemical Company (U.S.), Sika AG (Switzerland), Avery Dennison Corporation (U.S.), Tex Year Industries Inc. (Taiwan), Huntsman Corporation (U.S.), KLEIBERIT SE & Co. KG (Germany), Power Adhesives Ltd. (U.K.), Evans Adhesive Corp. (U.S.), Wacker Chemie AG (Germany), and Paramelt B.V. (Netherlands).
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Key Questions Answered in the Report:
Which are the high-growth market segments based on type, form, and end-use industry?
What was the historical market for hot melt adhesives?
What are the market forecasts and estimates for the period 2024–2031?
What are the major drivers, restraints, and opportunities in the hot melt adhesives market?
Who are the major players, and what shares do they hold in the hot melt adhesives market?
How is the competitive landscape in the hot melt adhesives market?
What are the recent developments in the hot melt adhesives market?
What are the different strategies adopted by the major players in the hot melt adhesives market?
What are the key geographic trends, and which are the high-growth countries?
Who are the local emerging players in the global hot melt adhesives market, and how do they compete with the other players?
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