Press release
Global Hot-Melt-Based Adhesives Market Industry Growth Factors, Trends, Demand Status And Forecast To 2033
Global Hot-Melt-Based Adhesives Market
The Business Research Company offers in-depth market insights through Hot-Melt-Based Adhesives Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The hot-melt-based adhesives market size has grown strongly in recent years. It will grow from $17.17 billion in 2023 to $18.78 billion in 2024 at a compound annual growth rate (CAGR) of 9.4%. The growth in the historic period can be attributed to growth in packaging industry, expansion of automotive manufacturing, rise in disposable hygiene products, consumer electronics manufacturing, increasing demand in woodworking applications.
The hot-melt-based adhesives market size is expected to see strong growth in the next few years. It will grow to $26.42 billion in 2028 at a compound annual growth rate (CAGR) of 8.9%. The growth in the forecast period can be attributed to automotive lightweighting trends, increasing emphasis on electric vehicle, medical device assembly, expansion of construction industry, stringent environmental regulations. Major trends in the forecast period include advancements in manufacturing technologies, focus on sustainability and eco-friendly formulations, rising popularity in disposable hygiene products, strategic collaborations and partnerships, customization and specialty formulations.
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Market Segmentation:
The hot-melt-based adhesives market covered in this report is segmented -
1) By Type: Thermoplastic Polyurethane, Ethylene Vinyl Acetate, Styrenic-butadiene Copolymers, Polyolefins, Polyamide, Other Resin Types
2) By Application: Packaging Solutions, Nonwoven Hygiene Products, Furniture & Woodwork, Bookbinding, Other Applications
3) By End User: Building and Construction, Packaging, Transportation, Electrical and Electronic Appliances, Healthcare, Other End Users
Major Driver - Growing Environmental Awareness Fuels Demand For Eco-Friendly Hot Melt Adhesives
With growing awareness of preserving the environment, customers/consumers are looking for eco-friendly products. Features like affordability, non-release of VOC into the environment, longer shelf life, reusability without degradation, and fast-drying ability make hot melt adhesives as environmentally friendly adhesives when compared to other adhesives. For example, companies such as Bostik are providing hot-melt polyurethane adhesive for the textile industry by using a solventless technology that reduces the usage of hazardous solvents like methylene chloride. Hot-melt polyurethane adhesive has seen visible success in Asian underwear, sportswear, and medical garment manufacturers. The increasing demand for hot-melt polyurethane adhesives will drive the hot melt adhesives market.
Competitive Landscape:
Major companies operating in the hot-melt-based adhesives market report are DowDuPont Inc., Evonik Industries AG, Corteva Inc., Sika AG, Huntsman Corporation, Toyobo Co. Ltd., Hexion Inc., Hexcel Corporation, Mapei SpA, Paramelt BV, Buhnen GmbH & Co. KG, Beardow & Adams Ltd., Tex Year Industries Inc., Dymax Corporation, Bostik Inc., Worthen Industries Inc., ITW Dynatec GmbH, KLEIBERIT SE & Co. KG, Wisdom Adhesives LLC, American Chemical Inc., Jowat SE, Daubert Chemical Company, Sealock Ltd., Permabond Engineering Adhesives Ltd., Sipol spa, Helmitin Inc., Adhesive Direct UK, Costchem SRL, Evans Adhesive Corporation Ltd., Sanyhot Adhesivos SA.
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Top Trend - IOT Adoption Enhancing Efficiency And Quality In Hot Melt-Based Adhesive Manufacturing
Many hot melt-based adhesive companies are adopting IoT (Internet of Things) technologies to connect equipment and smart devices to garner real-time insights and locate gaps in the manufacturing process. The data obtained is processed, analyzed, and interpreted by plant managers and senior-level management to improve quality and achieve optimum production levels. For example, smart systems give information on the working conditions and performance of chemical reactors with embedded software and analytics tools to notify plant operators and managers of possible machine breakdowns. For instance, some of the major companies adopting IoT include BASF SE, The Dow Chemical Company, and H.B. Fuller.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Hot-Melt-Based Adhesives Market Characteristics
3. Hot-Melt-Based Adhesives Market Trends And Strategies
4. Hot-Melt-Based Adhesives Market - Macro Economic Scenario
5. Hot-Melt-Based Adhesives Market Size And Growth
…..
27. Hot-Melt-Based Adhesives Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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