Hot Melt Adhesive Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Hot Melt Adhesive Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

The global hot melt adhesive market size reached US$ 7.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 10.1 Billion by 2028, exhibiting a growth rate (CAGR) of 5.3% during 2023-2028.

Hot melt adhesives are normally solid formulations that are based on thermoplastic polymers. They are usually solids under normal temperature but get activated and turn into liquids when they are heated above their softening point. Upon solidification, they return to a physical state that possesses structural integrity and can act as an adhesive. These adhesives are manufactured by blending thermoplastics with waxes, plasticizers, fillers, resins, and antioxidants. Hot melt adhesives can be applied in several ways, including extrusion, screen printing, spiral spraying, melt blowing, slot die coating, etc. In comparison to other adhesives, hot melt adhesives bond instantly with plastics, ceramics, glass, paper, rubber, wood, metal, etc. As a result, they are widely adopted across the packaging, construction, electronics, textiles, and automotive industries.

The growing packaging sector is primarily driving the demand for hot melt adhesives for sealing, assembling, and labeling corrugated boxes and paperboard cartons. Moreover, hot melt adhesives are also used for assembling car seat covers and carpets, thereby experiencing high demand in the automobile industry. Additionally, the increasing demand for fully-assembled and laminated furniture is also augmenting the market for these products. Rising infrastructural development across various emerging economies, such as India, China, Vietnam, etc. is further propelling the use of hot melt adhesives for binding ceramics, wood panels, flooring materials, and reengineered plastics. Apart from this, the rising adoption of customized and flexible packaging in the food and beverage sector is also driving the demand of hot melt adhesives as they don’t contain volatile organic compounds (VOCs), which can result in foul odor and can also negatively impact the food quality. Moreover, the advent of the PUR technology has led to the introduction of advanced product variants providing high heat resistance, UV protection, and superior binding strength, creating a positive impact on the market growth.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global hot melt adhesive market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on resin type, application and product form.

Breakup by Resin Type:

Ethylene Vinyl Acetate (EVA)
Styrenic Block Copolymers (SBC)
Mettalocene Polyolefin (MPO)
Amorphous Polyalphaolefins (APAO)
Polyolefins
Polyamides
Polyurethane (PU)
Others

Breakup by Application:

Packaging
Automotive
Printing and Publishing
Furnitures and Woodwork
Textiles
Electronics
Construction
Others

Breakup by Product Form:

Pellets
Blocks
Glue Sticks
Others

Breakup by Region:

North America
United States
Canada
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The report has also analysed the competitive landscape of the market with some of the key players being 3M Company, Arkema S.A., Ashland Global Holdings Inc., Avery Dennison Corporation, Beardow & Adams Ltd., Dow Inc., H.B. Fuller Company, Henkel AG & Co. KGaA, Jowat SE, Paramelt B.V., Sika AG and Wacker Chemie AG.

Key Questions Answered in This Report:
How has the global hot melt adhesive market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global hot melt adhesive market?
What are the key regional markets?
What is the breakup of the market based on the resin type?
What is the breakup of the market based on the application?
What is the breakup of the market based on the product form?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global hot melt adhesive market and who are the key players?
What is the degree of competition in the industry?