Market Overview:
The Global Hot Melt Adhesives Market size was valued at USD 15 Billion in 2022 and is projected to reach USD 21 Billion by 2030, growing at a CAGR of 4.3% from 2022 to 2030.
Hot-melt adhesives (also known as hot glue) are generally 100% solid formulations based on thermoplastic polymers (no water or solvents are involved). Hot melts are sold in a solid state at room temperature and are 'activated' upon heating beyond their softening point which is usually between 50 and 160 degrees. Hot melt adhesives are applied using a hot glue gun. The gun uses a continuous-duty heating element to melt the plastic glue, which the user pushes through the gun either with a mechanical trigger mechanism on the gun or with direct finger pressure. Hot melt adhesives are present in many forms in their solid state. They can be beads, blocks, pellets, chips, pillows, or glue sticks.
Top Key Players in Hot Melt Adhesives Market:
Henkel AG & Co. KGaA (Germany), H.B. Fuller Company (U.S.), 3M Company (U.S.), Arkema Group (France), Sika AG (Switzerland), Avery Dennison Corporation (U.S.), Dow Chemical Company (U.S.), Jowat SE (Germany), Beardow Adams Group (U.K.), Bostik (France), Bühnen GmbH & Co. KG (Germany), Sipol Adhesives (Spain), Hexion Inc. (U.S.), Tex Year Industries Inc. (Taiwan), Kleiberit Adhesives (Germany), And Other Major Players.
Market Dynamics and Factors for Hot Melt Adhesives Market:
Drivers:
Growing Demand In The Packaging Industry
Hot melt adhesives for the packaging industry are used in carton and case sealing, paper goods, plastic container bonding, and labeling applications. The packaging industry covers a wide range of products and methods of production - from case sealing and construction of all types of paper products to structural strengthening of pallets and working with modern materials like polypropylene. All of these applications can be handled and improved with the use of adhesives. Hot melt adhesives in particular are a perfect fit for packaging, being simple and economical to apply, withstanding expected stresses, and offering excellent bonding, these factors are driving the growth of the market during the forecast period.
Carton and case sealing are major application areas for HMAs. EVA is frequently used for this application because of its excellent adhesion on paper and cardboard, ease of application, and low cost. Additives can alter the properties of EVA for use in extremely cold temperatures sometimes needed for beverage cases (down to -40F), as well as for higher temperature ranges.
Opportunities:
Increasing Uses of Disposable Hygiene Products
Disposable hygiene products have become an integral part of our modern lifestyle, offering convenience, comfort, and improved hygiene. From diapers and sanitary napkins to adult incontinence products and medical dressings, the increasing uses of disposable hygiene products have transformed personal care and healthcare practices worldwide. A critical component that enables the assembly and functionality of these products is hot melt adhesives. These adhesives play a crucial role in the manufacturing process, ensuring the reliable and efficient bonding of various components, and contributing to the overall performance and durability of disposable hygiene products.
Segmentation Analysis of the Hot Melt Adhesives Market:
- By Type, EVA hot melt adhesives exhibit excellent compatibility with a wide range of substrates, including paper, cardboard, plastics, textiles, and wood. This versatility makes EVA adhesives suitable for diverse applications across various industries. EVA hot melt adhesives provide strong and reliable adhesion, ensuring durable bonds even under challenging conditions like temperature variations, moisture, and chemical exposure.
- By Type of Technology, the packaging application segment constituted the primary market share. Growing demand for the application of packaging and non-woven goods is a critical factor in driving market growth. HMAs do not need drying or curing, unlike their solvent- or water-based counterparts. Owing to the rising need for adult incontinence products, infant diapers, and female safety products globally, the market for superior-performance hygiene adhesives is increasing. Strong demand for HMA in the construction and packaging industry is a major factor driving growth.
Regional Analysis of the Hot Melt Adhesives Market:
APAC is the largest Hot Melt Adhesives Market (HMA Market) in terms of value and volume and is projected to be the fastest-growing market during the forecast period. The region has witnessed significant economic growth over the last decade. China continues to be an assembly hub for industrial products because of low labor costs. Thus, it consumes large volumes of HMA in appliances, footwear, and wood products, among other applications. Southeast Asian countries, including Vietnam and Cambodia, are witnessing increased adhesive consumption because of growth in footwear manufacturing.
North America
- The U.S.
- Canada
- Mexico
Eastern Europe
- Russia
- Bulgaria
- The Czech Republic
- Hungary
- Poland
- Romania
- Rest of Eastern Europe
Western Europe
- Germany
- UK
- France
- Netherlands
- Italy
- Spain
- Rest of Western Europe
Asia Pacific
- China
- India
- Japan
- Singapore
- Australia
- New-Zealand
- Rest of APAC
Middle East & Africa
- Turkey
- Saudi Arabia
- Qatar
- UAE
- Israel
- South Africa
South America
- Brazil
- Argentina
- Rest of SA
Key Industry Development:
February 2022 - H.B. Fuller Company acquired the Belgium-based company Fourny NV, a provider of construction adhesives with experience in technologies focused on commercial roofing, construction, and other private-label industrial specialties. According to the company, Fourny’s position in the commercial roofing business will allow the localization of products imported from the U.S.
January 2022 - H.B. Fuller Company acquired Apollo, the U.K.-based independent maker of liquid adhesives, coatings, and primers for the roofing, industrial, and construction sectors. The addition of this firm will increase the company's share of important construction markets in the U.K. and across Europe.
