Product Overview Hot melt adhesive (HMA) is a type of thermoplastic adhesive, which is typically marketed as solid cylindrical sticks of different diameters designed to be applied with a hot glue gun.
New York, June 06, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Hot Melt Adhesives Market By Product Type ; By Application ; and Region – Global Analysis of Market Size, Share & Trends for 2019– 2020 and Forecasts to 2030." - https://www.reportlinker.com/p06191808/?utm_source=GNW
To melt the plastic glue, which the user pushes through the gun either with a mechanical trigger mechanism on the gun or with direct finger pressure, the gun uses a continuous heating element. These adhesives are applied to a liquid substance and give a minimum of toxicity in an easy-to-clean application. Hot-melt adhesives are primarily used in bookbinding, for coatings, for the manufacture of packaging, diapers, other sanitary products, and tapes. Hot melt adhesives offer the fastest method of bonding and hot melt equipment has a far smaller footprint than other bonding techniques.
Global Hot Melt Adhesives is expected to project a notable CAGR of 5.98 % in 2030.
Global Hot Melt Adhesives to surpass USD 13.47 billion by 2030 from USD 7.53 billion in 2020 at a CAGR of 5.98 % in the coming years, i.e., 2021-30. Surging demand of hot melt adhesives from the packaging industry and non-woven products application is driving the growth of the market. Hot melt adhesives (HMAs) do not need drying or curing, unlike their solvent- or water-based counterparts. They can be applied in their molten state and can hence be bonded immediately after application, giving them the distinct benefit of faster processing times in different applications, including packaging, nonwovens (diapers and hygiene products for women), furniture, industrial products. All these factors are expected to deliver attractive growth opportunities to the global hot melt adhesives market during the projected period.
Recent Highlights in Global Hot Melt Adhesives
In July 2020, Arkema Group acquired Fixatti NV, a company producing thermobonding adhesive powder. Fixatti NV owns two production sites in Europe and one in China. The transaction would support Arkema Group strengthen its hot melt adhesives product portfolio and is in line with the company’s vision to become a pure specialty materials player by 2024.
In October 2017, Avery Dennison commissioned a hot melt adhesive coating line in Malaysia to expand its market position by leveraging the growth potential of Southeast Asia.
Global Hot Melt Adhesives: Segments
Ethylene Vinyl Acetate segment to grow with the highest CAGR during 2020-30
Global Hot Melt Adhesives is segmented by Product Type into ethylene-vinyl acetate, styrene block copolymer, polyurethane, polyamide, amorphous polyalphaolefins, metallocene polyolefins, and polyester. Ethylene Vinyl Acetate, the segment held the largest market share in the year 2020 because of their durability, versatility and it holds strong adhesion properties which makes it suitable for packaging and woodworking sectors. In addition, supportive government regulations in regard with the usage of low VOC adhesives is boosting the growth of the segment.
Packaging segment to grow with the highest CAGR during 2020-30
Global Hot Melt Adhesives is divided by Application into packaging, disposables, pressure-sensitive products, bookbinding, furniture, footwear, automobile, textile, electronics, and others. Packaging, segment held the largest market share in the year 2020 and will continue to dominate the market in the coming years. The growth of the segment of the market is driven by the bonding, superior speed, and adhesion ability of hot melt adhesives which make them suitable for products in corrugated cases, sealing bottles and paper board cartons, and other packaging products.
Booming demand of hot melt adhesives from packaging industry
In recent years, packaging industry is flourishing at a rapid pace owing to the surging demand for packaged food and beverages globally. Hot melt adhesives are extensively used in the paper, board, and packaging industry as packaged products require flexible as well as rigid packaging. Hot melt adhesives have a range of applications from printed sheets lamination and corrugated box construction to packaging materials which is used for all types of consumer products and the manufacturing of large industrial cores and tubes. Furthermore, the expanding e-commerce industry is bolstering the demand for packaging solutions. An increase in online shopping and rising consumption of packaged food products is expected to surge the demand for hot melt adhesives.
High adoption of hot melt adhesives in DIY applications
Hot melt adhesives are considered an ideal material for DIY applications since they can bind to a wide range of materials and surfaces such as papers, ceramic, fabric plastics, cardboard, and metal. While in developed economies such as North America and Europe DIY is common, it is a relatively new notion. The DIY applications include art, woodworking, packaging of general products, and others. In DIY application hot melt adhesives are commonly used in stick form due to their easy usage and easy accessibility of hot melt adhesives guns.
Unstable prices of raw material
Varying prices of raw materials is the major factor that is likely to hamper the global Hot Melt Adhesives market in the near future. Raw materials used in the adhesives have volatile prices and such volatility can impact the profit margins of the manufacturers. It is difficult for the manufacturers maintain a balance between production costs and selling prices which is likely to impede the growth of the hot melt adhesive market. Additionally, strict regulations in the developing economies is expected to hamper the growth of the global demand for hot melt adhesives in the coming years.
Global Hot Melt Adhesives: Key Players
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Adtek Consolidated Sdn. Bhd.
Bond Tech Industries
Bühnen GmbH & Co. KG
Cherng Tay Technology Co., Ltd.
Daubert Chemical Co.
Other Prominent Players
Global Hot Melt Adhesives: Regions
Global Hot Melt Adhesives is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific, and Middle East, and Africa. Global Hot Melt Adhesives in Asia Pacific held the largest market share of XX.X% in the year 2020. Asia Pacific will continue to dominate the global Hot Melt Adhesives. The growth of the segment is driven by the growing demand for packaging and disposable hygiene products and the presence of major market players in the region. Besides, growing consumer awareness regarding hygiene and the escalating demand for nonwoven hygiene products is contributing to the growth of the region. In addition to this, the substantial impact of western culture on the region has also propelled several attractive applications that positively impact the market growth in the region.
Global Hot Melt Adhesives is further segmented by region into:
North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America
Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA
Global Hot Melt Adhesives report also contains analysis on:
Hot Melt Adhesives Segments:
By Product Type
Ethylene Vinyl Acetate
Styrenic Block Copolymer
Hot Melt Adhesives Dynamics
Hot Melt Adhesives Size
Supply & Demand
Competition & Companies Involved in the Market
Value Chain of the Market
Market Drivers and Restraints
Read the full report: https://www.reportlinker.com/p06191808/?utm_source=GNW
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