Hot Melt Adhesives Market size is expected to grow USD 14,883.6 Mn by 2030

Description

According to the Market Statsville Group (MSG), the global hot melt adhesives market size is expected to grow from USD 8,271.2 million in 2021 to USD 14,883.6 million by 2030, at a CAGR of 4.7% from 2022 to 2030. Hot-melt adhesive (HMA), also known as hot glue, is a form of thermoplastic adhesive that is generally sold as solid cylindrical sticks of various diameters designed to be applied using a hot glue gun. Furthermore, the hot glue reduces the maintenance and installation costs for the users and enhances the user's do-it-yourself (DIY) application. Increasing awareness about these advantages will increase the adoption of hot melt adhesives in various industrial projects. So, it will surge the market in the forecast years.

Global Hot Melt Adhesives Market Definition

A hot-melt adhesive is a compound that sticks or bonds two items together. The hot-glue sticks can be stored for long periods with no other requirements. However, it requires some care that the user does not stick the parts together with excessive heating. Hot melt adhesive is applied at the correct temperature. If the adhesive is excessively hot, it may damage the surfaces or take too long to solidify. However, it requires some care that the user does not stick the parts together with excessive heating.

COVID-19 Impact on the Global Hot Melt Adhesives Market

The coronavirus pandemic has affected every industry. As a result of this pandemic, the chemical and materials industries are among those industries which are suffering from disruptions such as supply chain breaks, technology event cancellations, and office shutdowns. The pandemic had no significant effect on the raw materials supply, except for transportation delays. Hot melt adhesives were in great demand in the packaging industry, particularly in beverage packages and containers, food packaging, and many other uses. The post-pandemic period will bring more opportunities for different regions and market players.

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Scope of the Global Hot Melt Adhesives Market

The study categorizes the hot melt adhesives market based on type, application, and end-use industry at the regional and global levels.

By Type (Revenue, USD Million, 2017-2030)

• Ethylene Vinyl Acetate (EVA)
• Styrenic Block Copolymer (SBC)
• Amorphous poly-alpha-olefin (AMOP)
• Metallocene Polyolefins (MPO)
• Polyurethane (PU)
• Polyamide (PA)
• Polyester
• Others

By Application (Revenue, USD Million, 2017-2030)

• Nonwoven Hygiene
• Packaging Solutions
• Bookbinding
• Furniture & Wooden Work
• Others

By End-Use Industry (Revenue, USD Million, 2017-2030)

• Building and Construction
• Paper, Board and Packaging
• Woodworking and Joinery
• Transportation
• Footwear and leather
• Healthcare
• Electrical and Electronic Appliances
• Others

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By Region Outlook (Revenue, USD Million, 2017-2030)

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Italy
  • France
  • UK
  • Spain
  • Poland
  • Russia
  • Slovenia
  • Slovakia
  • the Netherlands
  • Belgium
  • Norway
  • Denmark
  • Czech Republic
  • Sweden
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Indonesia
  • Malaysia
  • Thailand
  • Vietnam
  • The Philippines
  • Singapore
  • Australia & New Zealand
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Colombia
  • Rest of South America
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • South Africa
  • Northern Africa
  • Rest of MEA

The Ethylene Vinyl Acetate (EVA) segment is witnessed to account for the highest market share, by type

In 2021, ethylene-vinyl acetate accounted for the highest market share. Due to their wide demand for DIY applications, as HMAs provide surface applications on various materials, including fabric, paper, plastics, cardboard, and metals. Furthermore, ethylene-vinyl acetate is an environment-friendly material as it does not contain Bisphenol A (BPA), chlorides, phenols, latex, and other harmful toxic substances. This will lead to an increase in its demand in various industrial projects as a substitute for toxic materials, which will boost revenue growth in the segment.

Asia-Pacific accounts for the highest CAGR during the forecast period

Globally, Asia-Pacific is estimated to hold the highest CAGR in the global Hot Melt Adhesives market during the forecast period. Due to the high growth rate in the fast-moving consumer goods (FMCG) sector in the last couple of months. Additionally, the region has increased their purchasing power among consumers as well as rise in the transportation and packaging industry in the region will foster the market’s growth.

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Key Market Players in the Global Hot Melt Adhesives Market

• 3M
• Sika AG
• Henkel AG & Co. KGaA
• Arkema Group (Bostik SA)
• H.B. Fuller
• Jowat SE
• RPM International Inc
• Sika AG
• BASF SE
• Huntsman International LLC

Article source: https://article-realm.com/article/Finance/23033-Hot-Melt-Adhesives-Market-size-is-expected-to-grow-USD-14-883-6-Mn-by-2030.html