NEW YORK, Sept. 28, 2023 /PRNewswire/ — The hot melt adhesives market is estimated to grow by USD 4.39 billion from 2022 to 2027, growing at a CAGR of 7.28%. The hot melt adhesives market is fragmented owing to the presence of many global and regional companies. A few prominent companies that offer hot melt adhesives market are 3M Co., Arkema Group, Double Fish, DuPont de Nemours Inc., Dycon Chemicals, Exxon Mobil Corp., Franklin International, H.B. Fuller Co., Heigl Adhesives, Henkel AG and Co. KGaA, IFS Industries Inc., Jowat SE, LyondellBasell Industries N.V., Meridian Adhesives Group, Pidilite Industries Ltd., S.W. ADHESIVE CO. LTD., SABA Dinxperlo BV, Sika AG, SpecialChem S.A., and Texyear Industrial Adhesives Pvt. Ltd. The report provides a full list of key companies, their strategies, and the latest developments. Download a Free Sample before buying
Company Offering:
- 3M Co. – The company offers hot melt adhesives such as 3M hot melt adhesive 3792 and 3M hot melt adhesive 3792LM.
- Arkema Group – The company offers hot melt adhesives such as Platamid hot melt adhesive.
- Double Fish – The company offers hot melt adhesive films such as the CH series, EH series, and PH series.
- For details on companies and their offerings – Buy the report!
By Geography, the market is classified as APAC, North America, Europe, South America, and Middle East and Africa. APAC will have the largest share of the market. APAC will contribute 42% to the growth of the global market during the forecast period. Numerous thriving manufacturing industries, encompassing packaging, automotive, electronics, textiles, and consumer goods are present in the region. All these industries heavily rely on hot melt adhesives for diverse bonding applications, fueling the overall demand. Furthermore, the regional automotive industry has also witnessed significant expansion, with countries like China, Japan, South Korea, and India being major hubs for auto production. Hence, such factors drive the growth of the regional hot melt adhesives market during the forecast period. Download a Free sample report to get more insights on the market share of various regions and the contribution of the segments.
- Impactful driver- High application in sanitary materials
- Key Trend – Growing demand in the express delivery industry
- Major Challenges – The volatility in raw material prices
Market Segmentation
- By Product, the ethylene-vinyl acetate (EVA) segment is significant during the forecast period. Factors like the excellent adhesive properties and relatively low melting point make ethylene-vinyl Acetate hold the largest share of the global hot melt adhesive market. Furthermore, EVA adhesives provide good bonding strength and flexibility, making them ideal for applications where the bonding material is subject to movement or stress. Hence, such factors drive the growth of the EVA segment of the hot melt adhesives market during the forecast period.
Technavio Research experts have provided more insights on the market share of segments – View Free Sample Report
Related Reports:
The contact adhesives market share is expected to increase by USD 1.43 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 5.44%.
The reactive adhesives market share is expected to increase by USD 1.95 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 6.11%.
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Hot Melt Adhesives Market Scope |
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Report Coverage |
Details |
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Historic period |
2017-2021 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 7.28% |
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YoY growth 2022-2023 (%) |
6.75 |
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Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
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Key countries |
US, China, Japan, India, and Germany |
TOC:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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SOURCE Technavio