Hot Melt Adhesives Market, Emerging Opportunities, Market Size,Growth Drivers by 2022

Hot Melt Adhesives (HMA), popularly known as hot glues, are a type of thermoplastic adhesives. These adhesives melt and flow after heating above 80 degrees Celsius and do not require curing for solidifying after application. These adhesives are generally used with a hot glue gun for heating and dispensing the hot melt adhesive (HMA). The hot glue gun has a loading chamber where the hot melt adhesive (HMA) is heated to melting point. The molten plastic adhesive is then dispensed through a heated nozzle by the mechanical trigger mechanism of the hot glue gun.

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The hot melt adhesive (HMA) solidifies within seconds to minutes (or to infinity in case of pressure sensitive hot melt adhesives) depending upon its composition. The hot melt adhesives (HMA), unlike solvent based adhesives, do not lose their thickness or density after solidifying and provide strong adhesion. The market is driven by increasing demand from the end-user industries such as packaging, labeling, building & construction, bookbinding, woodworking, non-woven, automotive, transportation and footwear industries. Additionally, general shift away from solvent based adhesives due to harmful effects of volatile organic compounds released from these adhesives is expected to fuel market growth over long term. Constant pressure from regulatory bodies such as REACH (Registration, Evaluation, Authorization, and Restriction of Chemicals) and EPA (Environment Protection Agency) is expected to limit the usage of solvent based adhesives in an attempt to reduce adverse impacts on environment, thereby supporting the hot melt adhesives (HMA) market. Furthermore, strong adhesion without the need to cure the adhesive after application is an added advantage for developing easier and cheaper end-use processes.

The growing market demand and continual push for environment friendly adhesives resulted in a rise of strategic market initiatives by players in 2011. Key players are probing new markets through partnerships, agreements, joint ventures and collaborations worldwide to exploit untapped market opportunities and avail the benefits of combined synergies.

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Volatile raw material prices are a major restraining factor that is likely to hamper market growth. Hot melt adhesives (HMA) are derived from petroleum based feedstock, prices of which fluctuate with the commodity market. This puts pressure on the margins of market players, especially small and medium sized players who are already offering aggressive prices to gain market share.

In terms of geography, Asia Pacific is estimated to be the leading market attributed to the fast growing industrial applications of hot melt adhesives. The region is witnessing major growth in China, Japan, India and South Korea owing to rapid technological advancements in these countries. Rest of the world (RoW) is also likely to witness rapid growth. In Rest of the World region, countries such as Brazil, Argentina, and parts of Africa are expected to witness market growth higher than GDP. Brazil is set to host two global events; the FIFA World Cup in 2014 and the Summer Olympics in 2016. These events are expected to boost the demand for hot melt adhesives in various end-use industries including building & construction, footwear, etc. The mature markets of Europe and North America are estimated to show relatively slower growth than Asia Pacific and RoW.

A large share of the market is served by small and medium sized players. Some of the key players in the hot melt adhesives (HMA) market include Avery Dennison Corporation, Beardow & Adams Ltd., Henkel AG, H. B. Fuller and Sika AG among others.

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