Hot Melt Adhesives Market - By Products (Ethylene Vinyl Acetate, Styrenic Block Copolymer, Amorphous poly-alpha-olefin, Metallocene Polyolefins, Polyurethane, Polyamide, Polyester), By Application (Packaging, Disposables, Pressure Sensitive Products, Book

Hot Melt Adhesives Market - By Products (Ethylene Vinyl Acetate, Styrenic Block Copolymer, Amorphous poly-alpha-olefin, Metallocene Polyolefins, Polyurethane, Polyamide, Polyester), By Application (Packaging, Disposables, Pressure Sensitive Products, Book Binding, Furniture, Footwear, Automobile, Textile, Electronics, Healthcare, Manufacturing) & Forecast, 2023 - 2032

The global hot melt adhesives market is anticipated to record momentous growth over the years 2023-2032. Supporting government norms regarding the use of eco-friendly products will fuel the demand for hot melt adhesives that comprise of low VOC content. Countries across Europe & North America are implementing strict emissions norms to limit the impacts of climate change on the environment. Increasing application in the footwear, packaging, electronics, and automotive sectors will complement the demand for advanced adhesives in the years to come.

Furthermore, strong government spending and new business expansion activities will generate lucrative opportunities for hot melt adhesive manufacturers. The rise in online shopping trends has pushed the requirement for shipping labels, tapes, and canton sealing. While new technological advancements and the development of the latest consumer electronics should boost the demand for durable packaging solutions.

The hot melt adhesives market is bifurcated into product, application, and region.

Based on the product, the market is classified into ethylene vinyl acetate (EVA), polyurethane (PU), amorphous poly-alpha-olefin (AMOP), styrenic block copolymer (SBC), metallocene polyolefins (MPO), polyamide (PA), and polyester. The metallocene polyolefins (MPO) segment was valued at over USD 2.35 billion in 2022.

These adhesives are widely used in packaging applications for carton closing, shoe box forming, tray sealing, and gift box assembly. Advancements in product design and a growing emphasis on safe, reliable, and durable packaging should influence the demand for MPO hot melt adhesives.

The market size from disposable applications is estimated to surpass USD 5.5 billion by the year 2032. Hot melt adhesives are used to manufacture various types of disposable hygienic products such as feminine care products, baby diapers, and adult incontinence supplies. These products require the need for a high degree of adhesion to ensure adequate performance. Hot melt adhesives are applied on these products in stripes or spray patterns and are likely to record high demand over the forecast period.

Based on the regional share, the LATAM hot melt adhesives market is estimated to witness over 6.5% CAGR between 2023-2032. Rising automotive manufacturing activities and sales across countries like Brazil, Mexico and Argentina will boost product deployment. Automotive companies in Latin America are seeking to benefit from flexible regulations and low labor costs.

Soaring sales of electric vehicles across the region will support the need for advanced adhesive solutions. Moreover, the introduction of foreign players in the automobile sector and the setting up of new manufacturing plants will complement the regional market outlook.