Hot Melt Adhesives Market Size is Anticipated to Grow US$ 9.95 Bn By 2027

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The global hot melt adhesives market size is likely to reach USD 9.95 billion by the end of 2027 and is expected to grow at a compound annual growth rate (CAGR) of 5.4% during the forecast period 2020 to 2027. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, market share analysis, potential challenges, profitability graph and the overall market environment.

Hot melt adhesives refer to a type of thermoplastic adhesive that is generally supplied in sticks and is manufactured to be melted in a hot glue gun thus termed as hot melt adhesives. These adhesives do not contain any pre warming signs related to crucial diseases such as cancer. In addition, the hot melts do not contain formaldehyde that further aids in its popularity among other adhesive materials. Hot melt adhesives are complete solid materials that are less influenced by the humid weather conditions. Besides this, they do not require expensive start-up as well as shut down processes during lamination.

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Growth Factors

Tremendous growth in the non-woven, woodworking, and packaging industries play an eminent role towards the market growth for hot melt adhesives. Increasing for non-woven disposables pertaining to rising awareness for hygiene expected to offer attractive growth prospects during the forecast timeframe. In addition to this, rising consumption of packaged food products is likely to offer attractive growth opportunities in the years to come. Furthermore, significant rise in the demand of the healthcare products are anticipated to create new avenues for the market growth. Hence, changing consumer's lifestyle with high impact of western habits in terms of eating and clothing estimated to propel the market growth for hot melt adhesives in the near future.

Report Highlights

  • The Asia Pacific emerged as a dominating market in 2019 and exhibits the fastest growth rate in the coming years due to significant expansion of industrial manufacturing bases in the region
  • North America estimated to grow at a rate near to 4%, in terms of value, from the year 2020 to 2027 because of the presence of some major packaging manufacturers in the region
  • EVA dominate the global market in terms of revenue because of its attractive properties that include high versatility, durability, and strong adhesion properties
  • Rubber predicted to expand at the fastest rate of around 5.5%, in terms of value, during the analysis timeframe due to high demand for labels and tapes especially from the packaging industry
  • Packaging application segment captured the major market share accounting for over 34% of value share in 2019 owing to favorable properties that makes them an ideal packaging solution
  • Nonwovens segment expected to exhibit the fastest growth rate during the forecast period owing to growing awareness among consumers related to personal hygiene

Key Market Players and Strategies

The hot melt adhesives industry is dominated by few major market players that acquire major value share in the year 2019. Further, the market expected to move towards more consolidation over the coming years and offers high competition along with less opportunity to the new market entrants to gain a stable footprint in the market. Brand name and consumer loyalty are the prime reason that accounted for the high share of established players.

Apart from this, these industry participants focus prominently on merger & acquisition and geographic expansion as their main market strategies to retain their competitive edge on the global scale. For example, in October 2017, Avery Dennison started a new hot melt adhesive coating production line based in Malaysia in order to enhance its market position by strengthen its growth potential in Southeast Asia.

Certain prominent players in the hot melt adhesives market include:

  • B. Fuller Company
  • Henkel AG & Co. KGaA
  • Dow Inc.
  • Jowat SE
  • Sika AG
  • Arkema Group
  • 3M
  • Ashland Inc.
  • Beardow Adams
  • Avery Dennison Corporation

Market Segmentation

By Product

  • Polyurethane
  • EVA
  • Polyolefin
  • Rubber
  • Others

By Application

  • Assembly
  • Packaging
  • Woodworking
  • Nonwovens
  • Automotive
  • Others

Regional Segmentation

  • North America (United States, Canada)
  • Europe (Germany, France, UK, Italy, Russia and Rest of Europe)
  • Asia-Pacific (China, Japan, India, Southeast Asia, Korea and Rest of Asia Pacific)
  • Latin America (Brazil and Rest of Latin America)
  • The Middle East and Africa (GCC, North Africa, South Africa and Rest of Middle East & Africa)

Regional Snapshots

The Asia Pacific occupied the major market share in terms value accounting for a share of around 50% in 2019 as well as it exhibits the fastest growth rate over the upcoming years. The prominent growth of the region is mainly attributed to the flourishing growth of automotive, packaging, industrial assembly, and woodworking industry. The region is a major hub for crucial consumers that drive the overall market demand for numerous industries. In addition to this, significant impact of western culture on the region has also driven several attractive applications that positively impact the market growth in the region.

Besides this, North America and Europe are the other prominent regions that predicted to register considerable growth rate during the analysis period. Though the regions are well-established markets for several industries, COVID-19 outbreak has impacted badly on the several manufacturing activities that drastically declined the product demand in these developed regions Major countries that are badly affected by the pandemic situation include Germany, Italy, the U.K., the U.S., Spain, Canada, and France. However, these nations are likely to recover at a substantial rate after the COVID-19 pandemic years.

Why should you invest in this report?

If you are aiming to enter the global hot melt adhesives market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for hot melt adhesives are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2020-2027 so that you can plan your strategies to enter this market accordingly.

Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.

Data points covered under hot melt adhesives market research study:

  • The historic and forecast market estimation from years 2016 to 2027
  • Market estimation and research analysis for the global market by distribution channel
  • Market estimation and research analysis for the global market by region
  • Research analysis on market dynamics including drivers, restraints, opportunities, trends, and market challenges.
  • Competitive scenery and business strategies by key players
  • SWOT Analysis
  • PORTER's five force research analysis
  • PEST Analysis
  • DR impact analysis
  • Heat map analysis
  • Investment feasibility analysis

Key Questions Answered by the Report:

  • What will be the size of the global hot melt adhesives market in 2027?
  • What is the expected CAGR for the hot melt adhesives market between 2020 and 2027?
  • Which are the top players active in this global market?
  • What are the key drivers of this global market?
  • How will the market situation change in the coming years?
  • Which region held the highest market share in this global market?
  • What are the common business tactics adopted by players?
  • What is the growth outlook of the global hot melt adhesives market?

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