Hot Melt Adhesive Market Size to Reach Revenues of USD 14.29 Billion by 2026 - Arizton
CHICAGO, June 29, 2021 /PRNewswire/ -- In-depth analysis and data-driven insights on the impact of COVID-19 included in this global hot melt adhesive market report.
The hot melt adhesive market is expected to grow at a CAGR of over 5.57% during the period 2020−2026.
Key Highlights Offered in the Report:
- Global hot melt adhesives market is expected to witness absolute growth of 39% during 2020 to 2026.
- The paper and packaging segment in APAC is expected to grow at a CAGR of 6.53% during the forecast period.
- The consumer product market is expected to exhibit a significant growth of the assembly segment. The assembly segment is expected to reach USD 2,980.63 million by 2026, growing at a CAGR of 5.73% between 2020 and 2026.
- The market for pellets is expected to grow at a CAGR of 5.66%, with an incremental revenue of USD 2,246.97 million between 2020 and 2026.
- The industrial end-user segment of the hot melt adhesives market is expected to witness an incremental revenue of USD 3,421.55 million and absolute growth of 39% between 2020 and 2026.
- Glue guns are expected to witness steady growth during the forecast period. The demand for glue guns is witnessing a steady recovery in the short term amid COVID-19 and is likely to witness high growth in the long run.
- The hot melt adhesives market in Europe has the largest market for hot melt adhesives. The market is expected to witness an absolute growth of 36% during the forecast period, at an incremental growth of USD 1,296.70 million.
Key Offerings:
- Market Size & Forecast by Revenue | 2020−2026
- Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
- Market Segmentation – A detailed analysis by raw material, product form, applications, end-user, distribution, and geography
- Competitive Landscape – 5 key vendors and 20 other vendors
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Hot Melt Adhesive Market – Segmentation
- The ongoing trend of eco-friendly products is likely to create more opportunities for bio-based hot-melt adhesives in the upcoming years. Players are continuously focusing on introducing environment-friendly products in the global hot melt adhesives market. EVA hot melt adhesives are flexible and compatible with various other polymers and additives which makes the procedure easy.
- Hot melt adhesives also come in pellet form are made up of chemical compounds that help in quick adhesion on permeable and impermeable surfaces. These hot melt adhesives in pellets is available in form of slugs, sachets, firm, powder, and tablets. It is most suitable for application in the manufacturing process where rapid melting is required.
- The demand for consumer flexible packaging is high in the food and beverage, healthcare, and pet food segments. The demand for industrial packaging is expected to increase in the pharmaceutical industry due to the robust demand for drugs and PPE manufacturing.
Hot Melt Adhesive Market by Raw Materials
- Ethylene-Vinyl Acetate
- Styrenic Block Copolymers
- Polyurethane
- Polyamide
- Amorphous Ploy-Alpha Olefin
- Metallocene Polyolefin
- Others
Hot Melt Adhesive Market by Product Form
- Pellets
- Pillows
- Sticks
Hot Melt Adhesive Market by Application
- Paper & Packaging
- Assembly
- Woodworking
- Nonwoven & Disposable
- Footwear
- Book Binding
- Others
Hot Melt Adhesive Market by End-User
- Residential
- Industrial
- Packaging
- Construction
- Automotive
- Furniture
- Electric & Electronics
- Healthcare
- Others
Hot Melt Adhesive Market by Distribution Channel
- Online
- Offline
Hot Melt Adhesive Market – Dynamics
Bio-based adhesives are gaining high attraction with the rise in the need for sustainable products. Bio-based hot melts contain around 60% renewable, naturally obtained resin content. These bio-based hot melt adhesives are economical and offer high penetration into fibers of cartons and other materials to build a strong bond. Thus, various vendors are initiating to offer such bio-based adhesives. For instance, in 2019, Jowat launched a new Jowatherm GROW product range, which includes bio-based hot melts for eco-friendly packaging. The product contains high renewable raw material. Most bio-based packaging adhesives are hot melt adhesives, and these are significantly greener than their conventional alternatives. These bio-based adhesives are used for tray forming, top & bottom case sealing, carton sealing, and wraparound carton sealing.
Key Drivers and Trends fueling Market Growth:
- Booming Packaging and Nonwoven Applications
- Increased Demand for Polyurethane-Based Hot Melt Adhesives
- Increased Use of Hot Melt Adhesives in DIY Activities
- Use of Hot Melt Adhesives in Automobile Industry
Hot Melt Adhesive Market – Geography
In North America, the demand for adhesives mostly comes from the packaging industry and is likely to continue as a key driving factor for the adhesive market. The hot melt packaging market in North America is expected to witness moderate growth and is expected to witness an absolute growth of 39% between 2020 and 2026, with an incremental growth of $870.85 million. The YoY increase in 2019 over 2018 is significantly higher on account of the rising food consumption and growth of the retail sector. The US will be the highest revenue generator in the region during the forecast period. The North American economy has performed well over the years, thereby increasing the per capita consumer spends. The packaging market in North America is at a mature stage and provides constant demand for hot melt adhesives. The demand for residential hot melt is witness high traction in recent years in comparison with other regions.
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Hot Melt Adhesive Market by Geography
- North America
- US
- Canada
- APAC
- China
- Japan
- South Korea
- Australia
- India
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Latin America
- Brazil
- Mexico
- Argentina
- Middle East & Africa
- UAE
- Saudi Arabia
- South Africa
Major Vendors
- 3M
- Arkema
- H.B. Fuller
- Henkel
- Sika
Other Prominent Vendors
- AdTech
- Astra Chemtech
- Beardow Adams
- Bond Tech Industries
- Caswell Adhesives
- Dow
- Franklin International
- Grupodesa
- IFS Industries
- Infinity Bond
- Jowat
- Kleiberit adhesives
- Master Bond
- Meridian Adhesive Group
- Nan Pao
- Power Adhesives
- Sun Pack
- Surebonder
- Technical Adhesives
- Tex Year Industries
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About Arizton:
Arizton Advisory and Intelligence is an innovation and quality-driven firm, which offers cutting-edge research solutions to clients across the world. We excel in providing comprehensive market intelligence reports and advisory and consulting services.
We offer comprehensive market research reports on industries such as consumer goods & retail technology, automotive and mobility, smart tech, healthcare, and life sciences, industrial machinery, chemicals and materials, IT and media, logistics and packaging. These reports contain detailed industry analysis, market size, share, growth drivers, and trend forecasts.
Arizton comprises a team of exuberant and well-experienced analysts who have mastered in generating incisive reports. Our specialist analysts possess exemplary skills in market research. We train our team in advanced research practices, techniques, and ethics to outperform in fabricating impregnable research reports.
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