Hot Melt Adhesives Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The report covers Global Hot Melt Adhesives Market Size and it is segmented by Resin Type (Ethylene Vinyl Acetate, Styrenic-butadiene Copolymers, Thermoplastic Polyurethane, and Other Resin Types), End-user Industry (Building and Construction, Paper, Board, and Packaging, Woodworking and Joinery, Transportation, Footwear and Leather, Healthcare, Electrical and Electronic Appliances, and Other End-user Industries), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa). The market size and forecasts are provided in terms of value (USD million) for all the above segments.

Hot Melt Adhesives Market Size

Hot-melt Adhesives Market Summary
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Study Period 2019 - 2029
Market Size (2024) USD 16.89 Billion
Market Size (2029) USD 23.66 Billion
CAGR (2024 - 2029) 6.98 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific

Major Players

Hot-melt Adhesives Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Hot Melt Adhesives Market Analysis

The Hot-melt Adhesives Market size is estimated at USD 16.89 billion in 2024, and is expected to reach USD 23.66 billion by 2029, growing at a CAGR of 6.98% during the forecast period (2024-2029).

In 2020, the COVID-19 outbreak caused bad conditions that made it hard for the market to grow, but it has since recovered and is still growing.

  • The main things that are driving the market that was studied are the growing demand from different end-use industries, the switch from solvent-borne adhesives to hot-melt adhesives, and the growing demand for non-woven products.
  • Some things that could slow down the market are problems with properties and rules that need to be followed.
  • Biodegradable hot-melt adhesives for sustainable packaging are likely to present an opportunity in the future.
  • The Asia-Pacific region is expected to dominate the market in the forecast period because of vastly growing economies such as India and China.

Hot Melt Adhesives Market Trends

This section covers the major market trends shaping the Hot-melt Adhesives Market according to our research experts:

Soaring Demand from the Paper, Board, and Packaging Industries

  • Hot-melt adhesives are mainstream adhesives in the paper, board, and packaging industries. It is most widely used for carton closing, sealing, and pallet stabilization.
  • Hot-melt adhesives can be used to make corrugated boxes and laminate printed sheets. They can also be used to package all kinds of consumer goods and large industrial tubes and cores.
  • The increasing demand for packaged foods and other packaging applications is in turn boosting the demand for hot-melt adhesives used in the packaging sector. For instance, in India, packaging is one of the fastest-growing industries, with an annual growth rate of 15%-20%. Currently, packaging represents the fifth-largest sector in the country's economy. The sector has witnessed steady growth over the past several years, and it is expected to rapidly expand, particularly in the export sector.
  • The pulp and paper industry in the United States produces more than 70 million tons of paper and board every year. The presence of major pulp and paper manufacturers in the country, including International Paper, Georgia-Pacific Corporation, and WestRock, is creating a competitive environment. The rising consumption of fast-moving consumer products is likely to boost the demand for packaging paper in the country.
  • The FAO says that in 2021, over 130 million metric tons of processed paper and cardboard were made in China, which makes the most paper in the world.
  • Most of the demand for packaging is from the food and beverage industry. The country's bakery sector is growing, with about 350 medium-sized bakeries and 150 large plant bakeries, which is strongly driving the sales of packaged products to cater to the rising trend in the country.
  • Another factor contributing to the potential demand for hot-melt adhesives in the packaging industry is the traditionally low levels of automation. This has caused many packaging producers to use alternate forms of adhesive.
Hot-melt Adhesives Market, Revenue CAGR (%), by End-user Industry, Global, 2022-2027

Asia-Pacific Region to Dominate the Market

  • Asia-Pacific dominated the global market with a share of more than 45%. With growing packaging and healthcare industries in countries like China, India, Japan, and South Korea, the consumption of hot-melt adhesives is increasing in the region.
  • Moreover, the country has witnessed rapid growth in the fast-moving consumer goods (FMCG) sector in the recent past. The development of the FMCG market was largely driven by the increased spending on premium and healthier products by middle-class consumers in the country.
  • Additionally, India has the fifth-largest packaging industry worldwide, and this industry is growing significantly. The increasing innovation in industries to make their products portable and compact is what drives the country's packaging industry.
  • The Chinese government has started policies to support and encourage domestic medical device innovation, providing opportunities for the market. The "Made in China 2025" initiative improves industry efficiency, product quality, and brand reputation, which will spur the development of domestic medical device manufacturers and increase competitiveness.
  • The healthcare sector in India is expected to reach USD 372 billion by 2022, mainly driven by increasing health awareness, access to insurance, rising income, and diseases. The medical sector in India is benefiting from a growing population at a rate of 1.6% per year. The industry's growth is being fueled by an aging population of over 100 million people, rising incidences of lifestyle diseases, rising incomes, and increased penetration of health insurance.
  • China has doubled the amount it has been pouring into public hospitals in the last five years to USD 38 billion. It aims to raise the healthcare industry's value to USD 2.3 trillion by 2030, more than twice its size now.
  • India is expected to become the fifth-largest consumer electronics and appliances industry in the world by 2025. Additionally, in India, technology transitions, such as the rollout of 5G and LTE networks and the IoT (Internet of Things), are driving the adoption of electronic products. Initiatives such as "Digital India" and "Smart City" projects raised the demand for IoT in the country.
  • With increasing employment in the country, there is an increase in the use of "ready-to-eat" food. In addition, the demand for cosmetic products is also increasing in the country.
  • Such factors are likely to drive the hot-melt adhesives market in the region during the forecast period.
Hot-melt Adhesives Market, Growth Rate by Region, 2022-2027

Hot Melt Adhesives Industry Overview

The global hot-melt adhesives market is estimated to be fragmented in nature. Some of the major players in the market include (not in any particular order) 3M, Jowat SE, Henkel AG & Co. KGaA, Arkema Group (Bostik), and H.B. Fuller, among others.

Hot Melt Adhesives Market Leaders

  1. 3M

  2. Henkel AG & Co. KGaA

  3. Arkema Group (Bostik SA)

  4. H.B. Fuller

  5. Jowat SE

*Disclaimer: Major Players sorted in no particular order

Hot-melt Adhesives Market  Concentration
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Hot Melt Adhesives Market News

  • June 2022 : Henkel expanded its hot melt adhesives manufacturing facilities by opening up hot melt adhesives manufacturing plant in Nuevo Leon, Mexico.
  • February 2022 :Arkema strengthened its position in the hot melt adhesives market by acquiring Shanghai Zhiguan Polymer Materials (PMP) in China which specializes in manufacturing of hot melt adhesives required in the electronics industry.
  • January 2022 : H.B. Fuller announced the acquisition of Apollo, a UK-based manufacturer of liquid adhesives, coatings, and primers for roofing, industrial and construction markets. Apollo will operate within H.B. Fuller's existing construction adhesives & engineering adhesives business unit.

Hot Melt Adhesives Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Increasing Demand from Diverse End-use Industries

      2. 4.1.2 Shift from Solvent-borne Adhesives to Hot-melt Adhesives

      3. 4.1.3 Growing Demand in Non-woven Products

    2. 4.2 Restraints

      1. 4.2.1 Disadvantageous Properties of Hot-melt Adhesives and Regulatory Compliances

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION (Market Size by Value)

    1. 5.1 Resin Type

      1. 5.1.1 Ethylene Vinyl Acetate

      2. 5.1.2 Styrenic Block Co-polymers

      3. 5.1.3 Thermoplastic Polyurethane

      4. 5.1.4 Other Resin Types

    2. 5.2 End-user Industry

      1. 5.2.1 Building and Construction

      2. 5.2.2 Paper, Board, and Packaging

      3. 5.2.3 Woodworking and Joinery

      4. 5.2.4 Transportation

      5. 5.2.5 Footwear and Leather

      6. 5.2.6 Healthcare

      7. 5.2.7 Electrical and Electronic Appliances

      8. 5.2.8 Other End-user Industries

    3. 5.3 Geography

      1. 5.3.1 Asia-Pacific

        1. 5.3.1.1 China

        2. 5.3.1.2 India

        3. 5.3.1.3 Japan

        4. 5.3.1.4 South Korea

        5. 5.3.1.5 ASEAN Countries

        6. 5.3.1.6 Rest of Asia-Pacific

      2. 5.3.2 North America

        1. 5.3.2.1 United States

        2. 5.3.2.2 Canada

        3. 5.3.2.3 Mexico

      3. 5.3.3 Europe

        1. 5.3.3.1 Germany

        2. 5.3.3.2 United Kingdom

        3. 5.3.3.3 France

        4. 5.3.3.4 Italy

        5. 5.3.3.5 Spain

        6. 5.3.3.6 Rest of Europe

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle-East and Africa

        1. 5.3.5.1 Saudi Arabia

        2. 5.3.5.2 South Africa

        3. 5.3.5.3 Rest of Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Ranking Analysis

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 3M

      2. 6.4.2 Alfa International Corporation

      3. 6.4.3 Arkema Group

      4. 6.4.4 Ashland Global Holdings Inc.

      5. 6.4.5 Avery Dennison Corporation

      6. 6.4.6 Beardow & Adams (adhesives) Limited

      7. 6.4.7 Dow

      8. 6.4.8 Drytac

      9. 6.4.9 Franklin International

      10. 6.4.10 H.B. Fuller Company

      11. 6.4.11 Henkel AG & Co. KGaA

      12. 6.4.12 Hexcel Corporation

      13. 6.4.13 Huntsman International LLC

      14. 6.4.14 Jowat SE

      15. 6.4.15 Mactac

      16. 6.4.16 Master Bond Inc.

      17. 6.4.17 Paramelt BV

      18. 6.4.18 Pidilite Industries Ltd

      19. 6.4.19 Sika AG

      20. 6.4.20 The Yokohama Rubber Co., Ltd.

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Biodegradable Hot-melt Adhesives For Sustainable Packaging

**Subject to Availability
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Hot Melt Adhesives Industry Segmentation

Hot-melt adhesive (HMA), also known as hot glue, is a form of thermoplastic adhesive that is commonly sold as solid cylindrical sticks of various diameters designed to be applied using a hot glue gun. The hot-melt Adhesives market is segmented by resin type, end-user industry, and geography. By resin type, the market is segmented into ethylene vinyl acetate, styrenic-butadiene copolymers, thermoplastic polyurethane, and other resin types. By end-user industry, the market is segmented into building and construction, paper, board, and packaging, woodworking and joinery, transportation, footwear and leather, healthcare, electrical and electronic appliances, and other end-user industries. The report also covers the market sizes and forecasts for the hot-melt adhesives market in 16 countries across major regions. For each segment, the market sizing and forecasts have been done based on value (in USD million).

Resin Type
Ethylene Vinyl Acetate
Styrenic Block Co-polymers
Thermoplastic Polyurethane
Other Resin Types
End-user Industry
Building and Construction
Paper, Board, and Packaging
Woodworking and Joinery
Transportation
Footwear and Leather
Healthcare
Electrical and Electronic Appliances
Other End-user Industries
Geography
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 and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa
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Hot Melt Adhesives Market Research FAQs

The Hot-melt Adhesives Market size is expected to reach USD 16.89 billion in 2024 and grow at a CAGR of 6.98% to reach USD 23.66 billion by 2029.

In 2024, the Hot-melt Adhesives Market size is expected to reach USD 16.89 billion.

3M, Henkel AG & Co. KGaA, Arkema Group (Bostik SA), H.B. Fuller and Jowat SE are the major companies operating in the Hot-melt Adhesives Market.

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the Asia Pacific accounts for the largest market share in Hot-melt Adhesives Market.

In 2023, the Hot-melt Adhesives Market size was estimated at USD 15.79 billion. The report covers the Hot-melt Adhesives Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Hot-melt Adhesives Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Hot Melt Adhesive Industry Report

Statistics for the 2024 Hot Melt Adhesive market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Hot Melt Adhesive analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Hot Melt Adhesives Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)