Press release
Reactive Hot Melt Adhesives Market Report 2024: Strategies And Recent Developments
The Business Research Company offers in-depth market insights through Reactive Hot Melt 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 reactive hot melt adhesives market size has grown strongly in recent years. It will grow from $1.26 billion in 2023 to $1.38 billion in 2024 at a compound annual growth rate (CAGR) of 9.3%. The growth in the historic period can be attributed to growing end-use industries, shift towards sustainable adhesives, product performance and efficiency, stringent quality standards, cost-effective solutions.
The reactive hot melt adhesives market size is expected to see strong growth in the next few years. It will grow to $1.95 billion in 2028 at a compound annual growth rate (CAGR) of 9.1%. The growth in the forecast period can be attributed to rising demand in electronics assembly, expansion in automotive manufacturing, advancements in packaging industry, construction and infrastructure development, growing popularity in medical applications. Major trends in the forecast period include sustainability and circular economy practices, smart and functional textile applications, adoption of multi-material bonding, customized solutions.
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Market Segmentation:
The reactive holt melt adhesives market covered in this report is segmented -
1) By Type: High Temperature, Low Temperature
2) By Substrate: Plastic, Wood, Other Substrates
3) By Resin Type: Polyurethane, Polyolefin
4) By Application: Automotive and Transportation, Doors and Windows, Upholstery, Lamination, Textile, Assembly
Major Driver - Packaging Industry Driving Surge In Reactive Hot Melt Adhesive Demand
The rise in demand in the packaging industry is expected to propel the demand for the reactive hot melt adhesives market going forward. Packaging refers to enclosing or covering a product with a container to aid in its distribution, identification, storage, promotion, and usage. The packaging industry is involved in the packaging of goods for their manufacturers. The hot-melt adhesives sector has a diverse set of criteria to meet the ever-changing needs of the packaging industry with strong and durable packaging solutions. For instance, according to Smithers, a UK-based provider of testing, consulting, information, and certification services, demand for the global packaging sector will reach $1.05 trillion by 2024. Furthermore, according to the Indian Institute of Packaging (IIP), an India-based autonomous body that was set up by the packaging and allied industries and the Ministry of Commerce, Packaging consumption in India has increased 200% in the past decade, rising from 4.3 kg per person per annum (pppa) to 8.6 kg pppa as on FY20. Therefore, the rise in demand in the packaging industry is driving the demand for reactive hot melt adhesives.
Competitive Landscape:
Major companies operating in the reactive hot melt adhesives market report are DOW Corning, 3M Company, Henkel AG & Co KGaA, Illinois Tool Works Inc., Royal DSM N.V., Freudenberg & Co KG Arkema SA, Eastman Chemical Company Sika AG, Avery Dennison, Huntsman Corporation, Konishi Co, Ltd., RPM International Inc., H.B. Fuller Company, Synthomer Plc Ashland Global Holdings Inc., Tesa SE, Kraton Polymers LLC, Nan Pao Resins Chemical Co Ltd., Tianyang, Beardow & Adams, Bostik Inc., Kleiberit, DL Chemical Co, Ltd., Tex Year Industries, Jowat SE, Novamelt GmbH Klebstofftechnologie, Renhe, Zhejiang Good, Momenti Group S.p.A.
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Top Trend - Innovative Woodworking Adhesive Solutions
Major companies in the reactive hot melt adhesives market are concentrating on product launches, such as Adhesive Solutions for Woodworking, specifically tailored for edge banding applications. Adhesive solutions for woodworking encompass specialized formulations designed to deliver effective bonding, sealing, and durability across various wood applications. For example, in May 2022, Bostik, a France-based company that manufactures and distributes adhesives and sealants, unveiled SG6518 and SG6520, the Next Generation of Adhesive Solutions for Woodworking. These innovative solutions feature superior bonding strength, water resistance, anti-mold properties, and high green strength. Specifically crafted as HMPUR adhesive solutions for woodworking, these features play a pivotal role in enhancing durability and quality in the reactive hot melt adhesives market, providing woodworkers with a reliable and efficient solution for bonding and sealing in diverse applications.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Reactive Hot Melt Adhesives Market Characteristics
3. Reactive Hot Melt Adhesives Market Trends And Strategies
4. Reactive Hot Melt Adhesives Market - Macro Economic Scenario
5. Reactive Hot Melt Adhesives Market Size And Growth
…..
27. Reactive Hot Melt Adhesives Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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