Hot Melt Adhesives Industry Overview
The global hot melt adhesives market size was valued at USD 7.37 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 4.8% from 2021 to 2028.
Increasing usage of hot glue adhesives in the packaging industry for various applications such as sealing of boxes and cartons for food and general consumer packaging is propelling the market growth. Hot melt adhesives (HMAs) offer adhesion to a wide variety of materials and surfaces, such as fabric, papers, ceramic, metal, cardboard, and plastics, which makes them suitable for DIY applications. Although DIY is leading in developed economies such as North America and Europe, it is a relatively new concept. The DIY applications include craft, general goods packaging, and wood working.
Gather more insights about the market drivers, restrains and growth of the Global Hot Melt Adhesives market
The U.S. is a prominent manufacturer and consumer of hot melt adhesives. The product demand increased drastically on account of the lockdown that occurred due to the COVID-19 outbreak. The shutdown led to the growth of e-commerce product delivery services, which augmented both production and consumption activities as hot melt adhesives are widely used in the packaging of parcel boxes.
However, the manufacturing companies faced a shortage in supply of raw materials, such as additives, polymers, and resins, as there was a hike in prices owing to the disruptions caused by the pandemic. The impact of the pandemic was not limited to the raw material side but had an adverse effect on the end-use industries.
Increasing demand for bio-based hot melt adhesives in the U.S. owing to their sustainability is driving the market. For instance, Jowat, a company engaged in manufacturing adhesives, has introduced products made from renewable raw materials, which has received certification from the United States Department of Agriculture (USDA), particularly for the North American market.
Growing construction activities and renovation of the existing buildings are propelling the demand for hot melt adhesives owing to their multiple applications, including the installation of floors, carpets, ceramic tiles, and glasses. The usage of HMA increases the aesthetic appearance of the floor compared to staples and nails.
Browse through Grand View Research’s Advanced Interior Materials Industry Research Reports.
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Hot Melt Adhesives Market Segmentation
Grand View Research has segmented the global hot melt adhesives market on the basis of product, application, and region:
- Hot Melt Adhesives Product Outlook (Volume, Kilotons; Revenue, USD Million, 2017 – 2028)
- Ethylene-vinyl Acetate (EVA)
- Hot Melt Adhesives Application Outlook (Volume, Kilotons; Revenue, USD Million, 2017 – 2028)
- Hot Melt Adhesives Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2017 – 2028)
- North America
- Asia Pacific
- Central & South America
- Middle East & Africa
Market Share Insights
- September 2021: Meridian Adhesives Group, a leading manufacturer and formulator of water-based and hot-melt adhesives and coatings, had acquired Prime Blend LLC.
- October 2020: Pidilite Industries Ltd. had acquired Huntsman Group’s Indian subsidiary Huntsman Advanced Materials Solutions Private Limited (HAMSPL) worth USD 257 million (rupees 2,100 crores) with an aim to expand its product offering for do-it-yourself (DIY) consumer adhesives business. This enables the company to leverage the market growth.
Key Companies profiled:
Some prominent players in the global Hot Melt Adhesives market include
- Henkel AG & Co. KGaA
- H.B. Fuller Company
- Sika AG
- Jowat SE
- Arkema Group
- Avery Dennison Corporation
- Beardow Adams
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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