Global demand for hot melt adhesives is expected to register a CAGR of 5.3% by accumulating a market value of USD 12,675.5 Million. As of 2022, the market is expected to be valued at USD 7,562.9 Million. Growth of the market is supported by:
| Attributes | Key Statistics |
|---|---|
| Hot Melt Adhesives Market Estimated Size (2022E) | USD 7,562.9 Million |
| Projected Market Valuation (2032F) | USD 12,675.7 Million |
| Value-based CAGR (2022 to 2032) | 5.3% |
| Collective Value Share: Top 3 Countries (2022E) | 55.1% |
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Established end-user industries such as furniture & woodwork, automotive & transportation, packaging solutions, disposable sanitary products, and footwear along with a strong presence of hot melt adhesive manufacturers are favoring the growth of the market in the region.
Manufacturers of hot melt adhesives are using technology to not only increase production but also for incorporating bio-based components. Furthermore, the growth of the packaging industry in the United States is heavily relying on hot melt adhesive for durable and long-lasting packaging.
Stringent rules and regulations to reduce the use of toxic components in end-user industries along with hot melt adhesives have opened doors of opportunities for hot melt adhesives.
The increasing use of solvent-based adhesives in furniture and woodwork, packaging solutions and the automotive and transportation industry is bolstering the demand for hot melt adhesives in the region.
On the other hand, most foreign manufacturers are planning to penetrate the hot melt adhesives market in China owing to the wide presence of end-user industries in the region. in addition, the well-established presence of hot melt adhesives in the region is positively influencing the demand for the hot adhesive melt market in China.
Packaging plays a crucial role in nearly all end sectors for the safety and durability of products. The diverse nature of end-user sectors that range from automotive to personal hygiene products needs customized packaging. This, in turn, has created a demand for hot melt adhesives.
The use of multi-layered packaging in the pharmaceutical industry along with the food and beverage industry is maximizing the use of hot melt adhesives.
As most government authorities are focusing on achieving sustainability agenda, the use of biodegradable and compostable hot melt adhesives is expected to increase. Not only is the adhesive produced sustainably but will also work as a nature-friendly component for various end-user products.
Furthermore, advancements in technologies to strengthen the durability of hot melt adhesives are playing a key role in the wide adaption of the same. With environmentally friendly hot melt adhesives becoming more commercial, the use of the same is expected to multiply in the upcoming years.
Increasing demand for solvent-free, bio-based hot melt adhesives from manufacturers of packaging solutions, disposable sanitary products, furniture & woodwork, automotive & transportation, and footwear is projected to drive the hot melt adhesives market. In addition, the high demand for biodegradable and compostable hot melt adhesives owing to the implementation of strict environmental norms by governments would push growth.
The hot melt adhesives market is set to witness growth in the forecast period due to the expansion of the transportation, energy, and automotive industries in emerging countries such as India and China. Many leading companies are focusing on developing bio-based hot melt adhesives to meet rising consumer expectations.
For example, Henkel partnered with DaniMer Scientific LLC, one of the world's largest suppliers of bio-based materials, to develop hot-melt adhesives that use bio-based raw materials. Beginning with consumer packaging applications such as end-of-line and labeling, bio-based hot melt adhesives are the latest trends in the market.
The aforementioned factors are projected to create new growth opportunities for manufacturers in the hot melt adhesives market. Some of the key companies are likely to engage in collaborations to expand their global footprint, technology, and product portfolios.
Principal Consultant
The global hot melt adhesives market witnessed a CAGR of 4.8% over the historical period of 2014 to 2021. The resumption of manufacturing activities and reduction of production capacities, part-time shifts, as well as the introduction of automated production machinery has allowed manufacturers to improve their market positions. This factor may drive the hot melt adhesives market during the forecast period.
Hot melt adhesives have little or no volatile organic compounds (VOCs), as compared to solvent-based adhesives. This has led to increased demand from North American and European countries that are focusing on implementing stringent emission regulations.
Regulatory bodies such as the Registration, Evaluation, Authorization, and Restriction of Chemicals (REACH) and the Environmental Protection Agency (EPA) are likely to continue to take more steps to limit the use of solvent-based adhesives to reduce their negative impact on the environment.
These factors are likely to drive the global hot melt adhesives market in the upcoming decade. As per Future Market Insights, Inc, the hot melt adhesives market is estimated to exhibit a CAGR of 5.3% from 2022 to 2032.
Renewable resource-based hot-melt adhesives are relatively inexpensive and have properties that match or exceed those of polymer-based adhesives used as replacements for petroleum-based products. Various key companies are also partnering with local firms to meet the growing demand for bio-based adhesives.
About two-thirds (60%) of the adhesive composition is derived from renewable plant-based raw materials. Several companies are focusing on developing bio-based hot melt adhesives to meet the growing consumer demand and keep up with regulatory compliance. Beginning with consumer packaging applications such as end-of-line and labeling, bio-based hot melt adhesives are expected to gain traction.
In both developed and developing countries, the trend of do-it-yourself or DIY is gaining momentum at a rapid pace. Hot melt adhesive glue can easily bond a wide variety of materials and surfaces such as ceramics, fabrics, paper, cardboard, metals, and plastics, thereby making it ideal for DIY applications and DIY projects.
DIY is a relatively new term, even in developed countries such as North America and Europe. Easy availability of hot melt adhesive pens across these regions would aid growth. Besides, in the United States and Europe, where labor and installation costs are higher than emerging countries, DIY methods for regular repairs and maintenance are popular.
In terms of space and personnel requirements, hot melt systems are the most cost-effective. As a result, it is no longer necessary to operate large-scale drying and curing furnaces and pollution control equipment at a high cost. Like solvent-based systems, hot melt adhesives eliminate the need for solvent recovery and incinerators.
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To remain competitive, suppliers must offer innovations that enable formulators to create products that meet consumer demand. Strict government regulations on the manufacturing and use of chemicals may hinder growth in the hot melt adhesives market to some extent.
Europe and North America are heavily regulated by environmental laws associated with the production of chemical and petroleum-based solutions and products. The European Commission (EC) and the Epoxy Resins Commission (ERC) regulate the manufacturing of solvent-based products in these regions.
While it is difficult to tackle the underlying health and environmental benefits of these reform measures, rising costs associated with compliance and raw materials are substantial, especially for smaller businesses.
This factor is set to affect the production capacity of manufacturers across Europe and North America. Strict environmental regulations are also compelling manufacturers to focus on producing environmentally friendly adhesives such as water-based adhesives.
The United States Environmental Protection Agency (EPA) and similar organizations are working to implement various measures aimed at reducing the impact of VOCs and other potentially harmful substances on the environment, workers present in manufacturing environments, and end users.
Disadvantages include thermal stress on the substrate, limited use with substrates, sensitivity to high temperatures, and loss of bond strength at high temperatures until the adhesive is completely melted. All these factors are expected to influence growth in the hot melt adhesives market negatively in the forthcoming years.
“Expansion of the Packaging Industry to Push Sales of Chemical Adhesives in the United States.”
The United States is expected to remain one of the prominent markets for the production and consumption of hot melt adhesives across the globe. Due to the presence of several leading manufacturers of hot melt adhesives, the country is expected to become an important business hub in North America.
Increasing adoption of advanced technology in the United States would also contribute to growth in the hot melt adhesives market in the country. With rising production and demand for bio-based compostable hot melt adhesives in the country, the United States has established a dominant position in terms of the consumption of hot melt adhesives.
The United States packaging industry is expected to be a key driver of market expansion owing to the presence of leading packaging manufacturers, including Ball Corporation, International Paper, and Owens-Illinois.
During the forecast period, the market is expected to be driven by surging demand in the packaging sector and increasing environmental concerns related to solvent-based adhesives. Market development is also expected to be supported by the use of bio-based hot melt adhesives in the coming decade. Owing to the aforementioned factors, the United States is projected to lead the North American hot melt adhesives market.
“Demand for Single-serve Packs in China to Boost the Need for Industrial Hot Glue Sticks”
China will lead the East Asia hot melt adhesives market owing to the rapid expansion of various end-use industries. The country is set to remain one of the leading consumers and manufacturers of hot melt adhesives globally. Due to rising demand from sectors, including footwear, packaging, disposable hygiene products, textile, and automotive & transportation, China is projected to showcase considerable growth. Also, the ever-increasing population in the country would spur the hot melt adhesives market.
More varied, sophisticated single-serve pack sizes have been produced as a result of China's shifting consumption habits and rising purchasing power, which has fueled the industry. The presence of significant hot melt adhesives producers also contributes to the industry's expansion.
There are more than 185 vendors in the hot melt adhesives market in China, with privately held Chinese companies making up the majority of the space. Foreign companies are expected to enter the China industry in the next decade with improved research & development (R&D) activities and high supply chain efficiencies for making good-quality raw materials easily available.
“Companies Are Looking for Polyurethane-based Pressure Sensitive Adhesives”
By polymer base, the polyurethane segment is anticipated to grow at an impeccable rate over the forecast period. Demand for polymer-based hot melt adhesives is rising as they can be used as one of the raw materials in the production of hot melt adhesives. Polyurethane is also well-known for having low volatile organic compounds.
The non-porous nature of materials like metal and wood makes polyurethane adhesives ideal for holding them together. Thus, these are suitable for use in product packaging, bookbinding, and shoemaking.
Due to its greater strength, quicker set time, and durability, polyurethane is ideal for a variety of woodworking applications, including finish carpentry, ceramic ceiling tiles, shoe repair, furniture restoration, broken glassware repair, laminate countertops, and similar others. This factor is expected to boost the demand for polyurethane hot melt adhesives in the forecast period.
“Demand for Hot Glue Colored Sticks in the Packaging Industry to Surge by 2032”
By end use, the packaging solutions segment is anticipated to generate the largest hot melt adhesives market share by the end of 2032. Growth is attributed to increasing demand for packaged food and beverages, as well as the high disposable income of consumers.
In addition, growth in the pharmaceutical industry, which is being fueled by rising healthcare costs globally, is raising the demand for packaging solutions in this industry and consequently pushing the need for hot melts.
Although standard envelopes and paper bags only have one layer of material, the majority of packaging materials used today are made of many layers of laminated materials. Increasing usage of packaging solutions is expected to create a favorable opportunity for companies present in the hot melt adhesives market.
To increase their annual turnover and fortify their market positions globally, major manufacturers are purchasing small-scale market players. To meet the rising demand and to survive in the highly competitive market, key participants are also concentrating on mergers and expansion activities.
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| Attribute | Details |
|---|---|
| Estimated Market Size (2022) | USD 7,562.9 Million |
| Projected Market Valuation (2032) | USD 12,675.7 Million |
| Value-based CAGR (2022 to 2032) | 5.3% |
| Forecast Period | 2022 to 2032 |
| Historical Data Available for | 2014 to 2021 |
| Market Analysis | Value (USD Million) and Volume (Kilo Tons) |
| Key Countries Covered | United States, Canada, Brazil, Mexico, Germany, Italy, France, United Kingdom, Spain, BENELUX, Nordics, Russia, China, Japan, South Korea, India, ASEAN, ANZ, Gulf Cooperation Council Countries, Turkey, Northern Africa, South Africa |
| Key Segments Covered | Polymer Base, End Use, and Region |
| Key Companies Profiled | Arkema; Avery Dennison Corporation; Beardow & Adams (Adhesives) Ltd.; DOW Inc.; HB Fuller Company; Henkel AG & Co. KGaA; Jowat Se; Sika AG; Tex Year Industries Inc.; Adhesive Direct UK; Adtek Malaysia SDN BHD; Buhnen GmbH & Co. Kg; Cherng Tay Technology Co., Ltd.; Evonik Industries AG |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
The global hot melt adhesives market is estimated to reach a valuation of US$ 7,562.90 Million in 2022.
Increasing adoption of hot glue adhesives in the packaging industry for the sealing of cartons & boxes for the general consumer and food packaging is set to drive the hot melt adhesives market.
Arkema, Avery Dennison Corporation, Beardow & Adams (Adhesives) Ltd., DOW Inc., HB Fuller Company, Henkel AG & Co. KGaA, Jowat Se, and Sika AG are some of the key manufacturers in the hot melt adhesives market.
Key players in the global hot melt adhesives market are expected to account for about 60-65% of the overall share.
The top countries driving the global hot melt adhesives market are China, the USA, and India.
1. Executive Summary | Hot Melt Adhesives Market 2. Market Overview 3. Key Market Trends 4. Key Success Factors 5. Global Market Demand Analysis 2014 to 2021 and Forecast, 2022 to 2032 6. Global Market - Pricing Analysis 7. Global Market Demand (in Value or Size in USD Thousand) Analysis 2014 to 2021 and Forecast, 2022 to 2032 8. Market Background 9. Global Market Analysis 2014 to 2021 and Forecast 2022 to 2032, By Polymer Base 9.1. Ethylene Vinyl Acetate (EVA) 9.2. Styrenic Block Copolymers (SBC) 9.3. Polyolefins 9.4. Polyamides 9.5. Polyurethane (PU) 9.6. Others 10. Global Market Analysis 2014 to 2021 and Forecast 2022 to 2032, By End Use 10.1. Packaging Solutions 10.2. Disposable Hygiene Products 10.3. Furniture & Woodwork 10.4. Automotive & Transportation 10.5. Footwear 10.6. Textile 10.7. Electronics 10.8. Bookbinding 10.9. Others 11. Global Market Analysis 2014 to 2021 and Forecast 2022 to 2032, by Region 11.1. North America 11.2. Latin America 11.3. Europe 11.4. South Asia and Pacific 11.5. East Asia 11.6. Middle East & Africa (MEA) 12. North America Market Analysis 2014 to 2021 and Forecast 2022 to 2032 13. Latin America Market Analysis 2014 to 2021 and Forecast 2022 to 2032 14. Europe Market Analysis 2014 to 2021 and Forecast 2022 to 2032 15. South Asia and Pacific Market Analysis 2014 to 2021 and Forecast 2022 to 2032 16. East Asia Market Analysis 2014 to 2021 and Forecast 2022 to 2032 17. Middle East and Africa Market Analysis 2014 to 2021 and Forecast 2022 to 2032 18. Countries Wise Market Analysis 19. Market Structure Analysis 20. Competition Analysis 20.1. 3M Company 20.2. Arkema 20.3. Avery Dennison Corporation 20.4. Beardow & Adams (Adhesives) Ltd. 20.5. DOW Inc. 20.6. HB Fuller Company 20.7. Henkel AG & Co. KGaA 20.8. Jowat Se 20.9. Sika AG 20.10. Tex Year Industries Inc. 20.11. Adhesive Direct UK 20.12. Adtek Malaysia SDN BHD 20.13. Buhnen GmbH & Co. Kg 20.14. Cherng Tay Technology Co., Ltd. 20.15. Evonik Industries AG 21. Assumptions and Acronyms Used 22. Research Methodology
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Hot Melt Adhesives Market
