CHICAGO, July 4, 2024
/PRNewswire/ -- The report "Hot-Melt Adhesives
Market by Resin Type (EVA, SBC, MPO, APAO,
Polyolefins), Application (Packaging Solutions, Nonwoven Hygiene
Products, Furniture & Woodwork, Bookbinding), and Region -
Global Forecast to 2029", size was USD 9.5 billion in 2024 and is projected to reach
USD 10.9 billion by 2029, at a CAGR
of 2.8% between 2024 and 2029.
The marketing factor of technological inventions in chemical
engineering and specifically in creating a new generation of
adhesives with greater heat and wearing resistance, and easier to
apply, is fuelling its growth. These developments help in improving
the properties of hot-melt adhesives, this makes them useful in
special calls for in different industries. Due to increased
awareness of the effects of its products and the environmental
returns of products many manufactures are shifting towards a green
adhesive product.
Browse in-depth TOC on "Hot-Melt Adhesives Market"
290 –
Tables
59 – Figures
276 – Pages
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The major driver for the hot-melt adhesives market is
catering to wide range of high growth applications.
Hot-melt adhesives are extensively utilized in various
applications, including packaging solutions, nonwoven hygiene
products, furniture and woodworking, bookbinding, and more, due to
their low volatile organic compounds (VOC) content, strong
adhesion, excellent heat resistance, and rapid drying. The
significant growth in these application segments has fueled the
expansion of the hot-melt adhesives market. The rising demand for
high-performance adhesives across diverse applications also drives
the hot-melt adhesives market, leading to the development of
products with enhanced properties like transparency and being
odorless.
Hot-melt adhesives hold a substantial share of the adhesives
market due to their benefits over water-based and solvent-based
adhesives, including higher production speed, environmental
friendliness, reduced floor space requirements, and
cost-effectiveness.
Packaging is the largest application for hot-melt adhesives,
accounting for about one-third of the total market. The primary
packaging uses include corrugated cases and paperboard carton
sealing. The demand for hot-melt adhesives is also rapidly
increasing in other sectors, such as textiles, footwear,
automotive, consumer goods, and product assembly, especially in the
emerging markets of Asia Pacific
and South America. Additionally,
global manufacturers are creating customized hot-melt adhesives,
opening new growth opportunities in untapped areas like road
marking and graphics.
Ethylene Vinyl Acetate (EVA) resin type segment is expected
to hold largest share of the hot-melt adhesives market during the
forecasted period.
EVA is the leading resin type in the hot-melt adhesives market
by both value and volume during the forecast period. This dominance
is due to the extensive use of EVAs in producing hot-melt adhesives
for various applications, including baby diapers and feminine
sanitary products. EVA's cost-effectiveness compared to other types
is also driving its increased demand for hot-melt adhesives
manufacturing. Meanwhile, PU is the fastest-growing segment, driven
by its rising use in nonwoven hygiene products, particularly in
emerging markets.
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Packaging solutions
application segment accounted largest share of the global hot-melt
adhesives market during forecasted period.
Packaging solutions constituted the largest application segment
in the hot-melt adhesives market, driven by the rising use of
hot-melt adhesives in various packaging types, including bulk,
industrial, commercial, and specialty packaging. Hot-melt adhesives
are utilized in various packaging applications, including carton
boxes, envelopes, carton closures, cups, flexible packaging,
specialty packaging, bags, and processed food products. Paperboard
cases and cartons are used to package goods for diverse needs, such
as transporting and storing agricultural and poultry products,
biscuits, chocolates, pharmaceutical items, and industrial
products.
Asia Pacific region likely
to account the largest share of the global hot-melt adhesives
market during forecasted period.
Asia Pacific is the largest
market for hot-melt adhesives due to its robust manufacturing
sector, particularly in industries such as packaging, automotive,
textiles, and electronics. The region's significant economic growth
and industrialization drive the demand for efficient and
cost-effective adhesive solutions. Additionally, the expanding
e-commerce sector and increasing infrastructure development further
contribute to the high demand for hot-melt adhesives in the
region.
Henkel AG & CO. KGaA (Germany), H.B. Fuller Company (US), Jowat SE
(Germany), 3M (US), Arkema (France). The companies are majorly following
product launches, acquisition, expansion as the strategy to grow
and expand the market.
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