Market Size of North America Hot-melt Adhesives Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
Forecast Data Period | 2024 - 2029 |
Historical Data Period | 2019 - 2022 |
CAGR | > 6.00 % |
Market Concentration | Low |
Major Players*Disclaimer: Major Players sorted in no particular order |
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North America Hot Melt Adhesives Market Analysis
The North America hot-melt adhesives market is estimated to witness a significant growth, at an estimated CAGR of over 6%, over the forecast period. Increasing demand from the packaging industry and rising environmental concerns regarding solvent-borne adhesives are expected to drive the market during the forecast period.
- Volatility in the availability and price of raw material forcing internal substitution is likely to hinder the market's growth.
- Adoption of bio-based hot-melt adhesives are projected to create opportunities to the market growth in the coming years.
- United States is expected to dominate the market and is also expected to witness the fastest CAGR during the forecast period.