Hot Melt Adhesives Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Hot Melt Adhesives Market
The Hot Melt Adhesives Market Size was valued at USD 7.49 billion in 2023, and the Market is now projected to grow from USD 7.89 billion in 2024 to USD 11.76 billion by 2032, exhibiting a CAGR of 5.2% during the forecast period of 2024-2032.
Ramifications from this global pandemic known as COVID-19 are the rising demand for PPE or medical equipment whose production involves the use of hot melt glue. In fact, the increase in the concern and demand for sanitation products in this segment was stated and reported, impeding the rise of Hot Melt Adhesives Market Growth.
The demand for Hot Melt Adhesives has risen due to the Transformation from Solvent adhesives to hot melt adhesives, resulting in the expansion of Hot Melt Adhesives Market share globally. Nonetheless, hot melt adhesives release slight amounts of Volatile Organic Compounds (VOCs) that are considered pollutants to the environment and human health. This leads to increased VOC emissions as compared to solvent-based adhesives since it is known to cause airborne pollutants and health complications. This has forced industries to consider other options such as hot melt adhesives bearing in mind the legal pressure that has led to reduction of the use of VOCs.
Additionally, It is surprising that the packaging industry remains one of the largest consumer groups in the global hot melt adhesives market as other companies aim at expanding their online sales in need of easy and efficient ways to protect their products. The usage of hot melt adhesives in single-serve packs had a comparatively better growth rate some of the areas that have observed an increase in the use of hot melt adhesives are Asia-Pacific especially China hence thereby increasing its usage in the packaging line. Also, there has been an increase in the use of other uses of sanitary products like baby or adult diapers, or other disposables such as sanitary pads or flushing sanitary tissues which are used and disposed of immediately, particularly with the current pandemic that Enhance.
Comprehensive Analysis of Hot Melt Adhesives Market
The Hot Melt Adhesives Market is rising at an exponential rate due to its market segmentation. This market expansion effectively provides a detailed regional assessment considering the dominant supply and demand forces that impact the Chemical & Advanced Materials Industry. These Segmentations are methodically segregated by Raw Material and by Application. The Raw Materials include Ethylene Vinyl Acetate (EVA), Polyolefins, Styrenic Block Copolymers (SBC), Polyurethane (PU), Polyester and others. However, The Application includes Packaging, Assembly, Woodworking, Transportation, Building & Construction, Footwear & leather, Nonwovens, Bookbinding, and others.
The Asia Pacific Region leads the Hot Melt Adhesives Market by benefitting a market size of USD 3.53 billion in 2023 due to indicators for healthy large furniture and building industries, and also true indications further of continued investment in the infrastructure and manufacturing areas and highly dynamic packaging manufacturing market in the said region.
The top players in the market play a crucial role in the Chemical & Advanced Materials Industry assuring industrial prospectus growth and setting market standards. These players include Exxon Mobil Corporation (US), Dow Inc. (US), 3M (US), Henkel AG & Co. KGaA ( Germany), MELER (Navarra), Sanyhot Adhesivos, S.A. (Spain), TEX YEAR INDUSTRIES INC. (Taiwan), H.B. Fuller Company (US), Arkema Group (US), Sika AG (Switzerland), Bostik (US), Jowat SE (US), AVERY DENNISON CORPORATION (US), LyondellBasell Industries Holdings B.V. (Netherlands), Embagrap (Spain).
In December 2023, this new solution referred to as the Technomelt E-COM portfolio for e-commerce packaging was a new chapter in the product catalog of Henkel Adhesive Technologies the global player in the hot melt adhesive systems for right-sized cartons and envelopes. As for the influence of this product, it would theoretically propose the desirable effect of increasing the efficiency of on-demand packaging systems..
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2019-2032
Base Year 2023
Estimated Year 2024
Forecast Period 2024-2032
Historical Period 2019-2022
Growth Rate CAGR of 5.2% from 2024 to 2032
Unit Value (USD Billion) and Volume (Tons)
Segmentation By Raw Material
Ethylene Vinyl Acetate (EVA)
Polyolefins
Styrenic Block Copolymers (SBC)
Polyurethane (PU)
Polyester
Others
By Application
Packaging
Assembly
Woodworking
Transportation
Building & Construction
Footwear & Leather
Nonwovens
Bookbinding
Others
By Region
North America (By Raw Material, By Application)
- U.S. (By Application)
- Canada (By Application)
Europe (By Raw Material, By Application)
- Germany (By Application)
- U.K. (By Application)
- France (By Application)
- Italy (By Application)
- Spain (By Application)
- Russia & CIS (By Application)
- Rest of Europe (By Application)
Asia Pacific (By Raw Material, By Application)
- China (By Application)
- Japan (By Application)
- India (By Application)
- South Korea (By Application)
- ASEAN (By Application)
- Rest of Asia Pacific (By Application)
Latin America (By Raw Material, By Application)
- Brazil (By Application)
- Mexico (By Application)
- Rest of Latin America (By Application)
Middle East & Africa (By Raw Material, By Application)
- GCC (By Application)
- South Africa (By Application)
- Rest of the Middle East & Africa (By Application)
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