Hot Melt Adhesives Market Size, Share & Growth Report | 2031

Report Description

The hot melt adhesives market size is projected to register a robust CAGR during the forecast period, between 2021 and 2028. The growth of the market is attributed to the increasing adhesives demand for various applications across industries.

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Hot melt adhesives (HMAs) are thermoplastic polymer adhesives used in mechanical anchorage. In general, hot melt adhesives are a blend of solvent-free chemicals. These are found in nature as thermoplastics and turned solids at room temperature. To achieve the desired finishing of products, these adhesives are first melted and then cooled before being applied to the surface. Furthermore, these adhesives are gaining popularity in a variety of places as they provide environmental compatibility, strong thermal resistance and stability, effective storage, and safe storage. Additionally, HMAs are widely employed in a variety of applications including food packaging, carton-sealing, woodworking, construction, and building.

Market Trends, Drivers, Restraints, and Opportunities

• Wide applications of HMAs in several domains including automobiles, electronics, and textile is expected to fuel the market during the forecast period.
• Increasing use of hot glue adhesives in the packaging sector as well as the replacement of traditional adhesive technologies with HMAs, are driving the market.
• Low thermal resistance of HMAs and difficulty in using them on tough compounds are major challenges anticipated to hinder the market growth.
• Strict government regulations towards the use of environmentally friendly alternative products acts as a key restraining factor that can hamper the market growth.
• Growing use of HMAs in road marking applications, pressure sensitive products, and nonwoven applications are creating immense growth opportunities for the market.

Scope of the report

The report on the global hot melt adhesives market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.

Hot Melt Adhesives Market Segment Insights

Ethylene vinyl acetate segment is projected to hold significant market share

Based on product types, the hot melt adhesives market is segregated into amorphous poly-alpha-olefin (AMOP), ethylene vinyl acetate (EVA), metallocene polyolefins (MPO), polyamide (PA), polyester, polyurethane (PU), styrenic block copolymer (SBC), and others. The EVA segment is projected to hold significant market share as it improves the clinginess of the HMA for plastic wrap applications. HMA based on EVA is frequently employed in biomedical engineering for drug delivery devices. The drug delivery device is utilized in drug delivery research for gradual drug distribution and the product does not biodegrade within the device, which boosts the segment. EVA is a copolymer adhesive that is used in variety of applications such as assembly, packaging, paper, and automotive. Some of major properties of EVA products include high mechanical strength, excellent adhesion, great flexibility, and paraffin solubility.  

Textile segment is anticipated to account for substantial share

On the basis of applications, the market is fragmented into automobiles, book binding, disposables, electronics, footwear, furniture, packaging, pressure sensitive products, and textile. The textile segment is anticipated to account for substantial share of the market owing to the growing product demand from the textile industry for laminating and coating processes. Polyurethane HMA has moisture curing properties and the best bond line support in textile fabrics. The product has a high level of adhesion and resistance throughout the sterilization and washing processes, which increase product demand from the textile sector. Moreover, increasing disposable income and a penchant for branded clothing are likely to boost the segment in the coming years.

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North America is expected to dominate the market

In terms of regions, the hot melt adhesives market is categorized as Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America is expected to dominate the market due to the increased demand for easy food and beverage packaging due to rising demand for fast-food and processed food items among a large number of the population in the region. Moreover, widespread use of the adhesive in the pharmaceutical, transportation, and healthcare industries, all of which have extensive packaging applications presents a key driver of the regional market. Furthermore, increased government regulations for environmental safety, accessible product access, and limited raw material availability are some of the major challenges that can hinder the regional market growth.

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