The Global Hot Melt Adhesives Market was $7.70 Billion USD in 2021 and is growing at a CAGR of 3.34% year on year, it will reach $9.70 Billion USD in 2029.
LOS ANGELES, CALIFORNIA, USA, March 6, 2023 /EINPresswire.com/ —
Hot Melt Adhesives Market Overview
Two pieces of metal are joined together using a form of glue called hot melt adhesives. They function by heating the metal until it bonds with the melting adhesive. This method is quick and simple, making it ideal for use in confined spaces.
One of the major forces propelling the hot melt adhesive market’s expansion is the automotive sector. The market in several regions, including North America, Asia Pacific, and Europe, is anticipated to be driven by the growing demand from this industry for high-quality adhesives.
Market Segment and Regional Analysis
The global hot melt adhesive market is estimated to be dominated by EVA (ethylene-vinyl acetate) based adhesives in terms of revenue share. Increasing demand for adhesives in various industrial applications is expected to drive the growth of this market. However, owing to environmental concerns associated with using methyl ethyl ketone (MEK), polyurethane based adhesives are expected to gain traction over the next few years.
With a market share of more than 36%, North America leads the world market for hot melt adhesive. The growing demand from end-use industries like automotive and industrial goods in North America is one reason for this dominance. Following with a share of about 24% is Europe. Rising demand from end-use industries like consumer goods and building & construction in Europe is one reason for this dominance. As a result of rising demand from end-use industries including electronics and healthcare in this region, Asia Pacific is anticipated to see the quickest growth throughout the forecast period.
Prominent Key Players of the Hot Melt Adhesives Market:
To accurately reflect the competitive environment of the industry, we specifically investigate not only the huge corporations that have a considerable impact on a global scale but also the localized small and medium-sized enterprises that play key roles and have significant space for growth. Detailed company profiles of the major global players, including 3M, AdCo, Adhesive Technologies, Aerocoll Chemie, Alfa, Arkema, Avery Dennison, Beardow Adams, Bühnen, Collano Adhesives, DELO Industrial Adhesives, DowDuPont, Drytac, Franklin International, H.B. Fuller, Helmitin, Henkel, Hexcel, Hexion, Huntsman, Jowat, KMS Adhesives, LORD, Mactac, Mapei, MasterBond, Paramelt, Pidilite, and Super Glue, etc.
Key Market Segments Table: Hot Melt Adhesives Market
Based on types, the Hot Melt Adhesives Market is primarily split into:
• Ethylene-vinyl Acetate (EVA)
By Application, the Hot Melt Adhesives Market is divided into:
Measurement Center By geography, the Hot Melt Adhesives Market is divided into:
• Asia Pacific
• North America
• South America
• Middle East And Africa
Analysis of the impact of the Russia-Ukraine War and COVID-19
The Hot Melt Adhesives Market has been significantly impacted by the Russia-Ukraine War and COVID-19. Due to the conflict, there is a shortage of equipment and raw materials, which has an impact on adhesive production. Additionally, the upheaval in Ukraine has driven up the cost of transportation, which has hurt the industry. These variables have caused the overall market trend to be negative. There are some exceptions to this tendency, though. For instance, the North American hot melt adhesive market is anticipated to have rapid sales growth over the following several years as a result of rising demand from industrial industries.
Key Drivers & barriers in the Hot Melt Adhesives Market:
The rising demand from end users for adhesive products that are simple to use and have strong bonding capabilities, as well as advancements in novel adhesive technologies, are some of the major factors influencing the market’s overall expansion. However, there are also significant barriers to industry expansion, such as rising rivalry from competing technologies like 3D printing and spray-on adhesive solutions, as well as problems with regulatory restrictions.
Key Benefits for Industry Participants & Stakeholders:
Some of the key benefits that industry participants can look forward to include:
• Increasing Adhesive Capacity: Due to the rising demand for adhesives from a variety of end-user industries, adhesive manufacturing capacity are projected to rise. As a result, adhesives will cost less and be more accessible to customers.
• Reduction in Manufacturing Costs: As firms adopt new manufacturing techniques, manufacturing costs are likely to go down. As a result, adhesives will cost less and be more affordable for end customers.
• Increasing Demand for Hot Melt Adhesives: The demand for hot melt adhesives is projected to rise as flexible packaging, smart printing, and 3D printing gain popularity.
Following is the list of TOC for the Hot Melt Adhesives Market:
• Report Overview
• Study Scope and Definition
• Research Methodology
• Key Market Segments
• Players Covered: Ranking by Hot Melt Adhesives Revenue
• Market Analysis by Type
• Market by Application
• Customer Support
• Personal Assistant
• Customer Engagement
• Covid-19 Impact: Global Major Government Policy
• Global Hot Melt Adhesives Market Trends and Growth Strategy
• Global Hot Melt Adhesives Market Players Profiles
• Global Hot Melt Adhesives Company Profile
• Global Hot Melt Adhesives Production Capacity Market Share by Market Players
• Global Hot Melt Adhesives Revenue Market Share by Market Players
• Global Hot Melt Adhesives Production Forecast by Regions
• Global Hot Melt Adhesives Marketing Channel, Distributors, Customers and Supply Chain
• Analyst’s Viewpoints/Conclusions
Why is the Hot Melt Adhesives Market Research Report so Important?
• The hot melt adhesive market research study offers the most recent market statistics and trends, which will help businesses become more competitive.
• The important factors impacting this market’s growth, including drivers, restraints, opportunities, and challenges, are analysed both qualitatively and
quantitatively in the report.
• The market for hot melt adhesives is explored in this report in great detail.
• The report gives readers a thorough understanding of the global hot melt adhesive market, including information on players, application areas, product
overviews, and regional trends.
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