Meticulous Research® has released an extensive report titled Hot Melt Adhesives Market by Type (EVA, Polyolefin, Polyurethane, Others), Form (Solid, Granular/Powder, Others), End-use Industry (FB, Automotive, Electronics, Home Decor, Consumer Goods, Textile, Others), and Geography - Global Forecast to 2031.
The report projects the hot melt adhesives market to reach $12.8 billion by 2031, expanding at a CAGR of 5.1% from 2024 to 2031. This anticipated growth is driven by advancements in raw materials and a rising demand for packaging solutions. However, the lower thermal resistance of hot melt adhesives limits their market potential.
Opportunities for growth include the rise of sustainable hot melt adhesives and their increasing use in non-woven applications. However, the challenge of rising raw material costs impacts market growth.
The market is segmented by type into ethylene vinyl acetate (EVA), polyamide (PA), polyurethane, polyolefin, styrenic block copolymers (SBCs), amorphous poly alpha olefins (APAO), metallocene, and other types. EVA is expected to dominate with over 39.0% of the market share in 2024. This is attributed to EVA’s strong adhesion, versatility, and increasing use in various industries, including packaging, mattress production, woodworking, and automotive applications.
EVA’s versatility and superior adhesive properties make it a popular choice across multiple industries. With ongoing advancements, EVA hot melt adhesives are expected to maintain a positive outlook. Manufacturers are working on enhancing EVA’s performance, including improving temperature resistance and adhesion to challenging surfaces.
The market is further divided by form into solid, granular/powder, and viscous liquid. The solid form is anticipated to hold over 42.0% of the market share in 2024. Solid hot melt adhesives offer benefits such as ease of dispensing, long shelf life, minimal waste, and no need for mixing or special equipment. This segment is also expected to grow at the fastest rate during the forecast period.
By end-use industry, the market is segmented into automotive, electronics, home decor, textile, food beverage, healthcare pharmaceutical, consumer goods, construction, fashion apparel, manufacturing, and other sectors. The food beverage segment is projected to hold over 33.0% of the market share in 2024, driven by increased demand for packaging and the development of sustainable, bio-based hot melt adhesives.
The automotive sector is expected to record the highest CAGR due to increasing adoption of hot melt adhesives in high-speed production lines and vehicle assembly.
Geographically, the market is divided into North America, Europe, Asia-Pacific, Latin America, and the Middle East Africa. Asia-Pacific is forecasted to hold over 48.0% of the market share in 2024, driven by rapid industrial growth, a strong presence of automotive and furniture manufacturers, and high demand for hot melt adhesives in various applications. The region is also projected to grow at the highest CAGR of 6.5% during the forecast period, supported by increased demand for packaging and labeling and a focus on sustainability.
Key Players:
Some of the key players operating in the hot melt adhesives market are H.B. Fuller Company (U.S.), 3M Company (U.S.), Jowat SE (Germany), Henkel AG Co. KGaA (Germany), Arkema (France), The Dow Chemical Company (U.S.), Sika AG (Switzerland), Avery Dennison Corporation (U.S.), Tex Year Industries Inc. (Taiwan), Huntsman Corporation (U.S.), KLEIBERIT SE Co. KG (Germany), Power Adhesives Ltd. (U.K.), Evans Adhesive Corp. (U.S.), Wacker Chemie AG (Germany), and Paramelt B.V. (Netherlands).
Download Sample Report Here @ https://www.meticulousresearch.com/download-sample-report/cp_id=5984
Key Questions Answered in the Report:
- Which are the high-growth market segments based on type, form, and end-use industry?
- What was the historical market for hot melt adhesives?
- What are the market forecasts and estimates for the period 2024–2031?
- What are the major drivers, restraints, and opportunities in the hot melt adhesives market?
- Who are the major players, and what shares do they hold in the hot melt adhesives market?
- How is the competitive landscape in the hot melt adhesives market?
- What are the recent developments in the hot melt adhesives market?
- What are the different strategies adopted by the major players in the hot melt adhesives market?
- What are the key geographic trends, and which are the high-growth countries?
- Who are the local emerging players in the global hot melt adhesives market, and how do they compete with the other players?
Contact Us:
Meticulous Research®
Email- sales@meticulousresearch.com
Contact Sales- +1-646-781-8004
Connect with us on LinkedIn- https://www.linkedin.com/company/meticulous-research
