Hot Melt Adhesives Market Value to Cross US$ 25.6 Bn by 2031

The global hot melt adhesives market (Markt für Schmelzklebstoffe) is estimated to grow at a CAGR of 8.7% between 2022 and 2031, according to the market outlook by TMR.

Ethylene vinyl acetate, or EVA hot melt adhesive refers to a copolymer adhesive that finds application in a wide range of end-use industries, such as paper, automotive, assembly, and packaging. This can be ascribed to several properties, such as strong mechanical strength, outstanding adhesion, superior flexibility, and paraffin solubility, of EVA hot melt adhesives. Moreover, these products are gaining traction owing to their cost-effective nature and ability to work at a broad range of service temperatures, such as from -22°F to 176°F. As per the TMR research report, the EVA product segment is estimated to expand at a CAGR of 8.5% during the forecast period.

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Key Findings

Hot melt adhesives are utilized in a wide range of packaging applications, such as corrugated waxed board, case sealing, carton sealing of standard bleached sulfate (SBS), tray forming, container labeling, and heat sealing. They also find application in packaging and converter applications. Water-based adhesives are being increasingly replaced by these adhesives owing to their advantages in terms of water resistance and set time. The e-commerce industry is expanding at a rapid pace due to increase in disposable income of people and rise in trend of online shopping in developing countries, such as India and China. This factor is expected to boost the demand for advanced packaging solutions, which in turn, is anticipated to create lucrative opportunities in the global market in the next few years.

Hot melt adhesives find application in the manufacturing of various disposable non-woven hygiene products, such as hospital bed pads, surgical drapes, feminine care products, baby diapers (nappies), medical dressings, and adult incontinence products. Thus, increase in adoption of non-woven hygiene products in the healthcare industry is likely to create substantial growth prospects in the market during the forecast period. Usage of hot melt adhesives is increasing across the globe over other alternatives owing to their advantages, such as cost-effectiveness and high resistance to solvents and acids. Demand for hot melt adhesives is projected to surge in the next few years as the need for hygiene products increases due to rise in aging population and technological advancements in medical procedures.

Hot Melt Adhesives Market: Growth Drivers

Growing consumer inclination toward consumption of ready-to-eat products is likely to drive market demand

Rise in demand from construction and packaging industries is bolstering market development

Increase in usage of disposable non-woven products in the healthcare industry is expected to fuel industry growth

Regional Analysis

Players are anticipated to gain significant business avenues in Asia Pacific during the forecast period, owing to fast-growing end-use industries, such as healthcare and packaging

Europe and North America are likely to maintain prominent positions and offer lucrative opportunities in the next few years, owing to the implementation of stringent government regulations regarding usage of materials with high volatile organic compound content

Hot Melt Adhesives Market: Key Players

Henkel AG & Company KGaA
H.B. Fuller Company
Arkema
3M
Avery Dennison Corporation
Hexcel Corporation
Jowat SE
Sika AG

Hot Melt Adhesives Market Segmentation

Product

Ethylene Vinyl Acetate
Polyolefins
Amorphous Polyolefin
Metallocene Polyolefin
Polyamides
Polyurethanes
Styrene Block Copolymers
Others (including Polycarbonate and Polycaprolactone)

Application

Packaging
Construction
Automotive
Non-woven/Hygiene
Furniture
Footwear
Book and Paper Binding
Electronics
Others (including Textiles and DIY)

Regions Covered

North America
Latin America
Europe
Asia Pacific
Middle East & Africa

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