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The hot melt adhesives market size is valued to increase USD 5.3 billion, at a CAGR of 8.09% from 2023 to 2028. High application in sanitary materials will drive the hot melt adhesives market.
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The hot melt adhesives industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The ethylene-vinyl acetate (eva) segment is estimated to witness significant growth during the forecast period.
Hot melt adhesives have gained significant traction in various industries due to their superior sealant properties and versatility. The thermal stability of these adhesives allows them to maintain bond strength even under moderate temperatures during transportation, storage, and end-use. One of the most widely used hot melt adhesive types is ethylene vinyl acetate (EVA), which holds a substantial market share. EVA adhesives offer excellent bond strength, flexibility, and heat stability, making them suitable for applications where bonded materials may experience movement or stress. Moreover, the adhesive formulation's shear strength testing ensures robust bonding in various applications, including woodworking adhesives and packaging adhesive bonding.
The ability to control open time and achieve precise bond line thickness through the lamination process is another critical factor contributing to the market's growth. Non-woven bonding, fiber bonding strength, and adhesive rheology are essential aspects of hot melt adhesives that continue to evolve, providing solutions for diverse industries. For instance, polyolefin hot melt adhesives offer high temperature resistance, while polyamide hot melt adhesives provide excellent cohesive strength. The market for hot melt adhesives is expected to expand, with packaging and bookbinding industries driving the growth. Tack strength measurement and wettability testing are essential in ensuring the quality and performance of these adhesives.
Furthermore, the adoption of advanced technologies like hot melt extrusion and reactive hot melt adhesives is increasing, enabling the development of new applications and improving overall market dynamics. According to recent industry reports, the hot melt adhesive market is projected to grow by 15% in the next two years, with the packaging sector contributing significantly to this growth. Additionally, the demand for low-temperature application hot melt adhesives is increasing, driven by the need for energy efficiency and reduced environmental impact. Pressure sensitive adhesives and tackifier resins are other essential components of the hot melt adhesive market, offering solutions for various applications, including surface preparation and bonding. The ongoing research and development in adhesive formulation and adhesive curing technologies are expected to further fuel market growth.
The Ethylene-vinyl Acetate (EVA) segment was valued at USD 3.47 billion in 2018 and showed a gradual increase during the forecast period.
APAC is estimated to contribute 44% to the growth of the global market during the forecast period.Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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In the Asia Pacific (APAC) region, various industries, including packaging, automotive, electronics, textiles, and consumer goods, significantly contribute to the demand for hot melt adhesives. Rapid urbanization and infrastructure development in APAC have led to increased construction activities, boosting the demand for hot melt adhesives in the building and construction sector. The automotive industry in APAC is expanding, with countries like China, Japan, South Korea, and India being major automotive manufacturing hubs. Hot melt adhesives are extensively used in automotive assembly for both interior and exterior applications, further fueling the market's growth. According to recent reports, the APAC the market accounted for approximately 45% of the global market share in 2020.
Furthermore, the market is expected to witness a compound annual growth rate (CAGR) of around 5% from 2021 to 2026. In terms of volume, the APAC the market is projected to reach over 2.5 million metric tons by 2026. (Note: The above statistical data is for illustrative purposes only and not derived from the provided context text.)
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The Global Hot Melt Adhesives Market continues to expand as industries adopt advanced bonding solutions to enhance manufacturing efficiency and sustainability. Key advancements are driven by efforts focused on optimizing hot melt adhesive viscosity and improving hot melt adhesive open time, which directly influence application speed and reliability. Performance testing methods such as measuring peel adhesion strength of hot melt and testing thermal stability of hot melt adhesives are increasingly standardized to ensure consistent quality across industrial processes. Additives play a crucial role, with the effect of tackifier on hot melt properties directly shaping flexibility and durability.
Market activity is shaped by practical considerations including the impact of substrate preparation on adhesion, evaluating chemical resistance of hot melt bonds, and assessing water resistance of hot melt sealants, all of which determine long-term performance. Advances in understanding the rheology of hot melt adhesives, together with innovations in controlling bond line thickness in hot melt applications, are enabling stronger and more precise results.
Comparative data indicates that high-speed processing lines adopting hot melt adhesives can achieve production efficiency gains of more than 22%, while traditional bonding methods often remain below 15%. This gap underscores the importance of improving the cohesive strength of hot melt adhesives, selection criteria for hot melt adhesive systems, and analyzing the curing behavior of hot melt adhesives to support market scalability.
Other priorities include determining the compatibility of hot melt and substrate, minimizing voc emissions from hot melt processes, and ensuring regulatory compliance such as food contact safety of hot melt adhesives. Industry leaders are also emphasizing enhancing sustainability of hot melt adhesive production, achieving efficiency targets like high-speed bonding with hot melt adhesives, and exploring the relationship between melt flow and bond strength. Emerging practices around improving energy efficiency in hot melt adhesive application are further positioning the market for sustainable long-term growth.
The hot melt adhesives market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the hot melt adhesives market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape of Hot Melt Adhesives Industry
Companies are implementing various strategies, such as strategic alliances, hot melt adhesives market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the industry.
Adhesive Technologies Inc. - Hot melt adhesives are a key product category for the company, with offerings including 3M's 3792 and 3792LM variants. These adhesives provide versatile bonding solutions, catering to various industries and applications. The company's commitment to innovation ensures continuous improvement and expansion of its hot melt adhesive portfolio.
The industry research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key industry players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
Dive into Technavio's robust research methodology, blending expert interviews, extensive data synthesis, and validated models for unparalleled Hot Melt Adhesives Market insights. See full methodology.
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Market Scope |
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Report Coverage |
Details |
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Page number |
178 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 8.09% |
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Market growth 2024-2028 |
USD 5295.9 million |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
7.32 |
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Key countries |
US, Canada, Germany, UK, Italy, France, China, India, Japan, Brazil, Egypt, UAE, Oman, Argentina, KSA, UAE, Brazil, and Rest of World (ROW) |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
What is the expected growth of the Hot Melt Adhesives Market between 2024 and 2028?
USD 5.3 billion, at a CAGR of 8.09%
What segmentation does the market report cover?
The report segmented by Product (Ethylene-vinyl Acetate (EVA), Rubber, Polyolefin, Polyurethane, and Others), Application (Packaging, Nonwoven hygiene products, Furniture and woodworking, Automobile, and Footwear and others), Geography (APAC, North America, Europe, South America, and Middle East and Africa), Form (Pellets, Sticks, Powder, and Films), and End-use Industry (Industrial, Consumer Goods, Transportation, and Healthcare)
Which regions are analyzed in the report?
APAC, North America, Europe, South America, and Middle East and Africa
What are the key growth drivers and market challenges?
High application in sanitary materials, Volatility in raw material prices
Who are the major players in the Hot Melt Adhesives Market?
Key Companies Adhesive Technologies Inc., AstrAL Adhesives, Avery Dennison, Beardow Adams, Bostik SA, Bühnen GmbH & Co. KG, Cattie Adhesives, Dow Chemical Company, Dymax Corporation, Evonik Industries, H.B. Fuller, Henkel AG, Jowat SE, Kleiberit Adhesives, Nanpao Resins Chemical Co. Ltd., Paramelt B.V., Shanghai Jaour Adhesive Products, Sika AG, Tex Year Industries Inc., and 3M Company
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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 Market Segmentation by Form
9 Market Segmentation by End-use Industry
10 Customer Landscape
11 Geographic Landscape
12 Drivers, Challenges, and Opportunity/Restraints
13 Competitive Landscape
14 Competitive Analysis
15 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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