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Hot-melt Adhesives Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Hot-melt Adhesives Market 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 report offers market size and forecasts for Hot-melt Adhesives Market in value (USD million) for all the above segments.

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Market Snapshot

Hot-melt Adhesives Market Summary
Study Period: 2017-2027
Base Year: 2021
Fastest Growing Market: Asia Pacific
Largest Market: Asia Pacific
CAGR: >6.02 %
Hot-melt Adhesives Market Major Players

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Market Overview

The global hot-melt adhesives market was valued at USD 8,169.72 million in 2021, and it is expected to register a CAGR of 6.02% during the forecast period (2022-2027). ​

  • Unfavorable conditions arising due to the COVID-19 outbreak hindered the market's growth in the past year, but it has recovered and is constantly growing.
  • The major factors driving the market studied are the increasing demand from diverse end-use industries, the shift from solvent-borne adhesives to hot-melt adhesive, and the growing demand for non-woven products.
  • Disadvantages associated with properties and regulatory compliances are the factors that may slow down the market.
  • Biodegradable hot-melt adhesives for sustainable packaging are likely to act as an opportunity in the future.

Scope of the Report

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 (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 report also covers the market sizes and forecasts for Hot-melt Adhesives Market in 16 countries across major regions. For each segment, the market sizing and forecasts have been done based on value (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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Key Market Trends

Soaring Demand from the Paper, Board, and Packaging Industries

  • An extremely high proportion of all industrial products are sold in packaging – either due to stability requirements for storage and transport or aesthetic reasons.
  • Hot-melt adhesives are mainstream adhesives in the paper, board, and packaging industry. It is most widely used for carton closing, sealing, and pallet stabilization.
  • The applications of hot-melt adhesives range from corrugated box construction and lamination of printed sheets to packaging materials for all types of consumer products and large industrial tubes and cores.
  • As of April 2021, Americans use more than 90 million short tons of paper and paperboard. North America has the world’s highest per capita consumption of paper of any region, consuming 221 kilograms per capita.
  • China, the world’s largest paper manufacturing country, witnessed over 130 million metric tons of processed paper and cardboard production in 2021, per the FAO reports.
  • Another contributing factor 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 adhesives.
Hot-melt Adhesives Market, Revenue share (%), by End-user Industry, Global, 2021

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 witnessed rapid growth in the fast-moving consumer goods (FMCG) sector in the recent past. The development of the FMCG market was majorly 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 country’s packaging industry is driven by increasing innovation in industries to make their products compact and portable.
  • According to the OICA, in 2020, India's total vehicle production was about 3,394,446 vehicles, including passenger, commercial, three-wheeler, two-wheeler, and quadricycles, which declined by about 25% compared to 45,16,017 vehicles produced over the same period last year.
  • China has doubled the amount it had 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.
  • With increasing employment in the country, there is an increase in the use of ready-to-eat. In addition, the demand for cosmetic products is also increasing in the country.
  • Such aforementioned factors are likely to drive the adhesives and sealants market in the region during the forecast period.
Hot-melt Adhesives Market, Growth Rate by Region, 2022-2027

Competitive Landscape

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, Sika AG, Henkel AG & Co. KGaA, Arkema Group (Bostik), and H.B. Fuller, among others.

Recent Developments

  • In Jan 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.
  • In Jul 2021, H.B. Fuller announced a strategic partnership with Covestro, a leading polymer supplier, to deliver an adhesive with a reduced climate impact for woodworking, composites, textiles, and automotive industries.

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 Many 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

    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 Share (%)**/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 Delo Industrial Adhesives

      8. 6.4.8 Dow

      9. 6.4.9 Drytac

      10. 6.4.10 Franklin International

      11. 6.4.11 H.B. Fuller Company

      12. 6.4.12 Henkel AG & Co. KGaA

      13. 6.4.13 Hexcel Corporation

      14. 6.4.14 Huntsman International LLC

      15. 6.4.15 Jowat SE

      16. 6.4.16 Mactac

      17. 6.4.17 Master Bond Inc.

      18. 6.4.18 Paramelt BV

      19. 6.4.19 Pidilite Industries Ltd

      20. 6.4.20 Sika AG

      21. 6.4.21 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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Frequently Asked Questions

The Hot-melt Adhesives Market market is studied from 2017 - 2027.

The Hot-melt Adhesives Market is growing at a CAGR of >6.02% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

Asia Pacific holds highest share in 2021.

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

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