Hot Melt Adhesives Market Will Boost USD 13.75 Billion in 2030: Increasing Adoption in the Footwear Industry
Reports And Data
Rising demand for hot melt adhesives for DIY art and craft, and increasing adoption of hot adhesives for lamination of wooden panels are drives growth
NEW YORK CITY, NEW YORK, UNITED STATES, November 17, 2022 /EINPresswire.com/ -- The global hot melt adhesives market size is expected to reach USD 13.75 Billion in 2030 and register a revenue CAGR of 6.9% over the forecast period, according to latest report by Reports and Data. Rising demand for hot melt adhesives for Do It Yourself (DIY) art and craft projects, and increasing adoption of these adhesives for lamination of wooden panels and kitchen countertops are expected to drive market revenue growth during the forecast period. Increasing adoption of hot melt adhesives in the footwear industry is also expected to boost growth of the global hot melt adhesives market in near future.
Hot melt adhesives are thermoplastic resins that are solid at room temperature and liquify when heated, which is then applied to surfaces. Hot melt adhesives are also known as hot glue, and they can be used in all types of product assembly, such as small joint assembly, large surface lamination mounting, and trip attachment. Rising demand for hot melt adhesives in commercial projects, due to the advantage of not losing thickness when dried, is expected to drive revenue growth of the global hot melt adhesives market. Demand for industrial hot glue is increasing, as it can be easily applied by dipping or spraying, which is expected to increase its adoption further.
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Top Companies profiled in the global market report include The 3M Company, Arkema S.A, Dow Silicones Corporation, H.B Fuller Company, Henkel AG & Company KGaA, Jowat SE, Beardow & Adams (Adhesives) Limited, Sika AG, Avery Dennison Corporation, and Ashland Global Specialty Chemicals, Inc.
Some Key Highlights in the Report
Ethylene-vinyl Acetate (EVA) segment is expected to account for a larger revenue share over the forecast period. Rising adoption of ethylene-vinyl acetate for padding sports equipment, such as bicycle saddles, boxing pads, hockey pads, helmets, and others, by sports equipment manufacturers is increasing demand for ethylene-vinyl acetate, which is expected to boost revenue growth of the segment.
Packaging solutions segment is expected to account for largest revenue share in the global hot melt adhesives market between 2022 and 2030. Rising need for proper packaging solutions for products to protect their contents from any damage during transportation, handling, and storage is driving revenue growth of the segment. Packaging helps in keeping a product intact throughout its logistics chain from manufacturer to the end user, and this is leading to increasing adoption of better sealing for products, which is expected to boost growth of the segment.
Asia-Pacific hot melt adhesives market is expected to account for largest revenue share in the global market over the forecast period. Rapid growth of the packaging industry in countries in the region is expected to drive market revenue growth. Rising demand for non-woven hygiene products is another major factor that is expected to drive revenue growth of the hot melt adhesives market in Asia-Pacific.
In November 2021, Sika AG announced signing of an agreement to acquire MBCC Group, the former BASF Construction Chemicals, to boost its growth strategy and strengthen its position as a worldwide construction industry sustainability leader.
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Resin Type Outlook (Revenue, USD Billion, Volume, Kilo Tons; 2019-2030)
Styrenic Block Copolymers
Polyamide
Polyolefins
Ethylene-vinyl Acetate (EVA)
Amorphous Poly-alpha-olefin (APAO)
Polyurethane (PU)
Others
Application Outlook (Revenue, USD Billion, Volume, Kilo Tons; 2019-2030)
Nonwoven Hygiene
Furniture & Wooden Work
Packaging Solutions
Bookbinding
Others
Key Regional Markets Covered in the Report:
North America (U.S.A., Canada, Mexico)
Europe (Italy, U.K., Germany, France, Rest of Europe)
Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)
The Hot Melt Adhesives market has been segmented into key regions of the world and offers an analysis of growth rate, market share, current and emerging trends, production and consumption ratio, industrial chain analysis, demand and supply, import and export, revenue contribution, and presence of key players in each region. A country-wise analysis of the market is offered in the report to gain a better understanding of the regional spread and progress of the Hot Melt Adhesives market.
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Frequently Asked Questions Addressed in the Report:
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