Hyderabad, July 11, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled "Hot-melt Adhesives Market Report (2023-2028)," the market is estimated at USD 15.78 billion in 2023. It is expected to register a CAGR of 6.98% during the forecast period.
Hot-melt adhesives (HMA), also known as hot glue, is a thermoplastic adhesive commonly used in the form of solid cylindrical sticks applied with a hot gun. The demand for HMA is growing in various industries which are trying to shift from solvent-borne adhesives. The use of biodegradable HMAs is an emerging trend in sustainable packaging, which is expected to bring more opportunities to the market.
Report Summary:
| Report Attribute | Details |
| Market Size (2023) | USD 15.78 billion |
| Market Size (2028) | USD 22.11 billion |
| CAGR (2023-2028) | 6.98% |
| Study Period | 2018-2028 |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
| Forecast Units | Value (USD billion) |
| Report Scope | Market Dynamics, Revenue Forecast and Segmentation, Competitive Landscape and Recent Developments, Market Growth, Future Opportunities, and Trends |
| Key Market Drivers | Growing demand from various end-use industries. |
| Increasing demand for non-woven products. |
Who are the Top Companies in the Global Hot-melt Adhesives Market?
The global hot-melt adhesives market is fragmented.
The significant players in the global hot-melt adhesives market are,
- 3M
- Alfa International Corporation
- Arkema Group
- Ashland Global Holdings Inc.
- Avery Dennison Corporation
- Beardow & Adams (adhesives) Limited
- Dow
- Drytac
- Franklin International
- H.B. Fuller Company
- Henkel AG & Co. KGaA
- Hexcel Corporation
- Huntsman International LLC
- Jowat SE
- Mactac
- Master Bond Inc.
- Paramelt BV
- Pidilite Industries Ltd
- Sika AG
- The Yokohama Rubber Co. Ltd
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Key Highlights from the Global Hot-melt Adhesives Market Report:
Increasing Demand from Paper, Board, and Packaging
- The increasing demand for packaged foods and other packaging applications is driving the demand for hot-melt adhesives globally. HMAs are widely used for carton closing, sealing, pallet stabilization, and in the production of corrugated boxes, laminating printing sheets, etc.
- Low levels of automation in the packaging industry are leading to the use of alternative forms of adhesives like HMAs, which are expected to boost the market in the coming years.
Growth Potential in Asia-Pacific
- Growing packaging, FMCG, and healthcare industries in countries like China, Japan, India, and South Korea are increasing the consumption of hot-melt adhesives in the Asia-Pacific region.
- The packaging industry in India is experiencing significant growth. China is the world's largest producer of processed paper and cardboard.
What are the Latest Developments in the Global Hot-melt Adhesives Market?
- In June 2022, Henkel expanded its hot-melt adhesives manufacturing facilities by opening a manufacturing plant in Nuevo Leon, Mexico.
- In February 2022, Arkema acquired Shanghai Zhiguan Polymer Materials (PMP) in China, which specializes in manufacturing hot-melt adhesives for the electronics industry.
Mordor Intelligence has Segmented the Global Hot-melt Adhesives Market Based on Resin Type, End-User Industry, and Geography.
- By Resin Type (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Ethylene Vinyl Acetate
- Styrenic Block Co-polymers
- Thermoplastic Polyurethane
- Other Resin Types
- By End-user Industry (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Building and Construction
- Paper, Board, and Packaging
- Woodworking and Joinery
- Transportation
- Footwear and Leather
- Healthcare
- Electrical and Electronic Appliances
- Other End-user Industries
- By Geography (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Asia-Pacific
- China
- India
- Japan
- South Korea
- ASEAN Countries
- Rest of Asia-Pacific
- North America
- United States
- Canada
- Mexico
- Europe
- Germany
- United Kingdom
- France
- Italy
- Spain
- Rest of Europe
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- Asia-Pacific
In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the Global Hot-melt Adhesives Market Report (2023-2028).
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About Mordor Intelligence:
Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.
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