South & Central America Hot Melt Adhesives Market Forecast to 2030 - Regional Analysis - by Product Type (Glue Sticks, Glue Slugs, and Others), Type (Ethylene Vinyl Acetate, Polyolefins, Polyamides, Polyurethanes, Styrene Block Copolymers, and Others), an

South & Central America Hot Melt Adhesives Market Forecast to 2030 - Regional Analysis - by Product Type (Glue Sticks, Glue Slugs, and Others), Type (Ethylene Vinyl Acetate, Polyolefins, Polyamides, Polyurethanes, Styrene Block Copolymers, and Others), and Application (Packaging, Construction, Automotive, Furniture, Footwear, Electronics, and Others)

The South & Central America hot melt adhesives market was valued at US$ 177.52 million in 2022 and is expected to reach US$ 251.04 million by 2030; it is estimated to register a CAGR of 4.4% from 2022 to 2030.

Adoption of Bio-Based Hot-Melt Adhesives Fuels South & Central America Hot Melt Adhesives Market

Hot melt adhesives are now used in several end-use industries; however, people demand bio-based and compostable hot melt adhesives that are environmentally friendly. Henkel has developed biobased hot melt adhesives technology, particularly suited for sustainability and circular economy uses. This development is mainly focused on reducing dependency on petroleum-based raw materials and diminishing the carbon footprint of different manufacturing operations. As one of the developers of these biobased hot melt adhesives chemistries, Henkel is looking to improve the way companies enhance their sustainable packaging initiatives. Ethylene vinyl acetate is used in biobased hot melt adhesives due to their eco-friendly & reliable nature. Using biobased and compostable hot melt adhesives, landfills can be saved to a larger extent. Jowatherm GROW is further providing hot melt adhesives based on renewable raw materials. The modern hot melt adhesives offered by the company are made up of bio-based materials and are recyclable. The company also follows German Packaging Law. Furthermore, the high content of renewable raw materials makes these adhesives environment friendly. The lower processing temperature also facilitates a significant amount of reduction of energy consumption, hence, helping in the conservation of resources as well as optimization of the working environment. In August 2019, Jowat announced the launch of its new Jowatherm GROW product range for use in packaging, prepared with bio-based hot melts for environmentally compatible bonding. According to Jowat, these products feature high renewable raw materials content, which will further offer high efficiency of working. Only resins prepared from crude liquid rosin are reportedly utilized in the adhesives' formulation.

South & Central America Hot Melt Adhesives Market Overview

The continuous technological and industrial developments have positively impacted the economic growth of countries such as Brazil and Argentina. The changing economic condition in South and Central America due to the growth of chemical, packaging, construction, automotive, furniture, footwear, electronics, and other industries, as well as due to increasing support from governments to boost industrial outcomes, provide significant growth prospects for the hot melt adhesive market players in South & Central America. The use of hot melt adhesives is increasing with the growing awareness about environmental sustainability. Moreover, the constant research and development by the key players to develop environmentally friendly products such as decomposable hot melt adhesives are providing notable opportunities to the market players. Hot melt adhesives are gaining popularity due to fast set speed, broad processing window, and good thermal stability as well as due to their adhesion compatibility with many substrates, including highly recycled corrugated papers. Packaging offers strength as well as durability required to protect products during transportation. The hot melt adhesives meant for automotive applications should have heat resistance, low volatile compound emission, bonding compatibility with difficult substrates, and flame-resistant properties. Hot melt adhesives are characterized by solvent-free, stable performance and compliance with low VOC regulations. Several programs and incentives are being implemented by various governmental bodies to focus on the growth of several manufacturing industries. Brazil is a major market for hot melt adhesives in South and Central America, followed by Argentina and other countries. Moreover, with robust government and financial support, entry into the Brazilian manufacturing market seems promising. Thus, developments in the manufacturing sector and government support for encouraging industrial production would flourish the hot melt adhesives market in this region in the coming years.

South & Central America Hot Melt Adhesives Market Revenue and Forecast to 2030 (US$ Million)

South & Central America Hot Melt Adhesives Market Segmentation

The South & Central America hot melt adhesives market is categorized into product type, type, application, and country.

Based on product type, the South & Central America hot melt adhesives market is segmented into glue sticks, glue slugs, and others. The glue sticks segment held the largest market share in 2022.

In terms of type, the South & Central America hot melt adhesives market is segmented into ethylene vinyl acetate, polyolefins, polyamides, polyurethanes, styrene block copolymers, and other. The ethylene vinyl acetate segment held the largest share of South & Central America hot melt adhesives market in 2022.

By application, the South & Central America hot melt adhesives market is divided into packaging, construction, automotive, furniture, footwear, electronics, and others. The packaging segment held the largest share of South & Central America hot melt adhesives market in 2022.

Based on country, the South & Central America hot melt adhesives market is categorized into Brazil, Argentina, and the Rest of South & Central America. The Rest of South & Central America dominated the South & Central America hot melt adhesives market share in 2022.

H.B. Fuller Company; Henkel AG & COMPANY, KGAA; Arkema; 3M; Sika AG; Jowat SE; Hexcel Corporation; The Dow Chemical Company; Beardow Adams; Gorilla Glue Company; and Adhesive Technologies, Inc. are among the leading companies operating in the South & Central America Hot Melt Adhesives market.

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