Hot Melt Adhesives (HMA) Market worth $11.4 billion by 2027 | Key players Henkel AG & Co. KGaA, H.B. Fuller, Jowat SE, 3M, Arkema (Bostik)

According to recent market research the "Hot Melt Adhesives (HMA) Market by Type (EVA, SBC, MPO, APAO, PA, PO, PU), Application (Packaging Solutions, Nonwoven Hygiene Products, Furniture & Woodwork, Bookbinding) and Region (APAC, Europe, North America, RoW) - Global Forecast to 2027", published by MarketsandMarkets, the HMA market is projected to grow from USD 9.1 billion in 2022 to USD 11.4 billion by 2027, at a CAGR of 4.8% between 2022 and 2027. Growing demand for HMA from packaging, and nonwoven hygiene products application in Asia Pacific and South America provide opportunities to increase the market.

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Metallocene is a compound that typically consists of two cyclopentadienyl anions. mPO-based HMA is clear, odorless, and has high thermal stability. mPO-based HMA is a fast-setting adhesive and is suitable for colorless applications. It can be used to manufacture high-quality laminates by direct contact or spray application technique. mPO is used in case and carton sealing, food & beverage packaging, nonwoven hygiene products, woodworking, film laminating, graphic arts, and bottle labeling. mPO-based HMA have lower production cost in comparison to EVA.

China's standard of living and purchasing power are increasing rapidly, making the appliances industry strong. This encourages the development of strong foreign and Chinese brands. According to Statista, the revenue generated from the appliances industry is projected to witness an annual growth rate of 9.4% between 2020 and 2024, amounting to USD 70,388 million by 2024. This growth of the appliances industry in the country is increasing the use of HMA.

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The HMA market is projected to grow from USD 9.1 Billion in 2022 to USD 11.4 Billion by 2027, at a CAGR of 4.8% between 2022 and 2027. Asia Pacific is estimated to be the largest consumer of HMA. The global HMA market is driven by the growing demand for HMA in DIY applications.

The key players operating in the market are Henkel AG & Co. KGaA (Germany), H.B. Fuller (US), Jowat SE (Germany), 3M (US), and Arkema (Bostik) (France). These players have adopted various strategies, such as acquisition, expansion, and new product launch to grow in the market. Acquisitions is the key strategy adopted by the major players between 2016 and 2022. This strategy helped companies enhance their global presence.

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3M started a small-scale mining venture more than a century ago, but today more than 60,000 products of the company are used in homes, schools, hospitals, and other industries. The company has managed to remain in the Fortune 500 list repeatedly because of its scientific, technical, and marketing innovations. It is performing its corporate operations in 70 countries, and sales in 200 countries, with more than 90,000 employees. The products are segmented in four main units - Safety & Industrial; Transportation & Electronics; Healthcare; and Consumer. The company has an extensive and robust product portfolio, along with the strong R&D capabilities. It has established vast distribution channels in different geographic locations to serve its customers worldwide.

Jowat SE manufactures and distributes adhesives globally. The company operates through eight product segments: HMAs (EVA, PA, PO, and PSA), reactive HMAs, dispersion adhesives, solvent-based adhesives, reactive 1k and 2k systems, PSA, primer, and other adhesives/special products. The company offers its hot melt products through the HMAs (EVA, PA, PO, and PSA) segment.

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