The global hot melt adhesives market is anticipated to create a lucrative growth opportunity in the global landscape by registering a CAGR of 5.3%. from 2022 to 2032. The market is expected to reach a valuation of US$ 7,562.9 Mn by the end of 2022 and is predicted to reach US$ 12,675.7 Mn by 2032.
Over the historical period, the global hot melt adhesives market witnessed a CAGR of 4.8% between 2014 to 2021. The manufacturing activities have been reduced and significant reduction has been witnessed in the product capacities, part-time shifts, as well as introduction of automated production machinery, let manufacturers improve their market positions. These aforementioned factors are expected to drive the hot melt adhesives market during the forecast period.
Heat-activated adhesives, also known as hot melt adhesives, are a type of adhesive that are applied in a molten state and then solidify as they cool down. They are typically made up of thermoplastic polymers and can be used in a variety of applications, such as packaging, woodworking, textiles, and automotive manufacturing.
The adhesive is usually applied in its molten state using a hot melt glue gun or a specialized applicator. The heat causes the adhesive to liquefy and flow onto the surface to be bonded. As the adhesive cools, it solidifies and forms a strong bond.
Request a Sample @ https://www.futuremarketinsights.com/reports/sample/rep-gb-1184
Key Takeaways
- Renewable resources-based hot-melt adhesives comprise several benefits due to which they are rapidly being replaced by petroleum-based. Renewable resources-based hot-melt adhesives are inexpensive and have properties that match or exceed those of polymer-based adhesives. Prominent companies in the market are partnering with local firms in order to meet the growing demand for bio-based adhesives.
- About two-thirds (60%) of renewable plant-based raw materials composition is extracted from plants. Key leading players are focusing on developing bio-based hot melt adhesives to meet the growing consumer demand and keep up with regulatory compliance. Commencing with the consumer packaging applications including end-of-line and labeling, bio-based hot melt adhesives are expected to gain traction.
- The trend of do-it-yourself (DIY) is gaining momentum in both developed and developing countries. There are a variety of materials and surfaces that can be effectively glued by hot melt adhesive glue such as ceramics, fabrics, paper, cardboard, metals, and plastics, thereby making it ideal for DIY applications and DIY projects.
- DIY being a relatively new term has gained traction across various developed countries such as North America and Europe. Owing to the easy availability of hot melt adhesive pens across these regions would aid growth. In addition to that, in the U.S. and Europe, the cost of labor is higher resulting in higher installation costs. Attributed to this, DIY methods for regular repairs and maintenance are popular in developed countries.
- Hot melt systems are the most cost-effective on the basis of space and personnel requirements. As a result, it is not needed to operate large-scale drying and curing furnaces and pollution control equipment at a high cost. Like solvent-based systems, hot melt adhesives eliminate the need for solvent recovery and incinerators.
- Solvent-free, bio-based melt adhesives are surging in the market from manufacturers of packaging solutions, disposable sanitary products, furniture & woodwork, automotive & transportation, and footwear are projected to drive the hot melt adhesives market.
Competitive Landscape
In order to elevate their annual turnover and fortify their market positions worldwide, leading manufacturers in the market are purchasing small-scale market players. To efficiently meet the rising demand and thrive in the highly competitive market, key participants are also concentrating on mergers and expansion activities.
- Arkema
- Avery Dennison Corporation
- Beardow & Adams (Adhesives) Ltd.
- DOW Inc.
- HB Fuller Company
- Henkel AG & Co. KGaA
- Jowat Se
- Sika AG
- Tex Year Industries Inc.
- Adhesive Direct UK
- Adtek Malaysia SDN BHD
Get Customization in the Report, Enquire Now @ https://www.futuremarketinsights.com/customization-available/rep-gb-1184
Hot Melt Adhesives Market Outlook by Category
By Polymer Base:
- Ethylene Vinyl Acetate
- Polyolefin
- Polyamide
- Styrenic Block Copolymers
- Polyurethane (PU)
- Others
By End Use:
- Packaging Solutions
- Disposable Hygiene Products
- Furniture & Woodwork
- Automotive & Transportation
- Footwear
- Textile
- Electronics
- Bookbinding
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East & Africa
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
Contact:
Unit No: 1602-006
Jumeirah Bay 2
Plot No: JLT-PH2-X2A
Jumeirah Lakes Towers
Dubai
United Arab Emirates
LinkedIn| Twitter| Blogs
For Sales Enquiries: sales@futuremarketinsights.com
