Hot Melt Adhesives Market - By Type (styrenic block copolymers, polyamides, ethylene vinyl acetate, polyurethane, amorphous polyalphaolefins, polyolefins, metallocene polyolefin, and others), Application (packaging, book and paper binding, construction, furniture, footwear, non-woven/hygiene, electronics, automotive) - Global Opportunity Analysis and Industry Forecast, 2020 – 2030

Hot Melt Adhesives Market held USD 7.0 billion in 2020 and is expected to grow with a CAGR of 5.0%. Hot melt adhesive is a mixture of additives such as resins and pigments, and consists mainly of one or more polymers that give various adhesives different characteristics. Due to their various beneficial characteristics such as easy adhesion, rapid bond formation and faster dry time, hot melt adhesives are commonly used in many end-user industries. Due to the strong demand in the construction sector global hot melt adhesives market is expected to influence positively over the forecast period.

Market Dynamics and Factors:

Growing construction expenses in emerging countries like Brazil, China, Malaysia,  Indonesia, India, and Vietnam are expected to boost the demand for hot melt adhesives (HMA) in the global market. Growing demand for pressure-sensitive industries using hot melt adhesives is expected to increase foreign trade, thereby benefiting the industry as a whole. Hot melt adhesives are expected to drive the overall market with the ability to immediately bind with reengineered plastics, ceramics and various other composite forms over other traditional adhesives. New industry players were essential to the growth of the sector. Initiatives to address the gap in product demand by creating lucrative applications may help gain competitive advantage over other players in the industry. Continuous demand in this industry has led to tremendous technical advancements which have further expanded the need for hot melt adhesives. Rising demand for polyolefin-based adhesives will fuel the HMA market. Due to its dangerous results, switching from solvent-based traditional adhesives is encouraged to boost business growth. Clear adhesion without needing to reapply after application is yet another advantage over other adhesives dependent on solvent. The hot melt adhesive demand will be hindered by high crude oil prices. Compliance with stringent regulations is expected to cause sluggish business growth in developing countries.

Market Segmentation:

Based on the type,  the Global Hot Melt Adhesives Market is segmented into ethylene vinyl acetate,polyamides, styrenic block copolymers, amorphous polyalphaolefins, polyolefins, polyurethane, metallocene polyolefin, and others. On the basis of application, the market is segmented into the paper and book binding, construction, packaging, furniture, footwear, non-woven/hygiene, electronics, automotive. Considering  the geography, the global hot melt adhesives market is divided into North America, Europe, Asia-Pacific, and RoW.

Geographic Analysis:

Globally, the Asia Pacific region was the largest market for hot melt adhesives. This rise was attributed primarily to the rapid growth observed in the region's marine and aerospace industries. Furthermore, due to the region's booming automotive industry, the Asia Pacific region is projected to be the fastest-growing market for hot melt adhesives in the next few years. China and India, owing to the constantly evolving industries in these developing nations, are the main countries for the region's hot melt adhesives industry.

Competitive Scenario:

The key players dominating the world global hot melt adhesives market  are Exxon Mobil, H.B. Fuller, Arkema, Henkel AG, 3M, Jowat, Sika, Hexcel Corporation, Tex Year Industries, Beardow Adams, Dowdupont, REXtac, Heartland Adhesives, AkzoNobel, and Toyobo.

Hot Melt Adhesives Market Report Scope