The Hot Melt Adhesives Market is experiencing growth driven by the increase in demand of hot melt adhesives for Do It Yourself (DIY) art and craft. The Hot Melt Adhesives Market is segmented into Product (Ethylene-vinyl Acetate (EVA), Polyurethane, Rubber, Polyolefin, Others), Application (Packaging, Bookbinding, Assembly, Woodworking, Automotive, Nonwovens, Others), and Type (Polyamide, EVA (Ethylene-Vinyl Acetate), SBC (Styrenic Block Copolymers), PU (Polyurethane), APAO (Amorphous Poly-Alpha olefin & POE (Polyolefin Elastomers), Others) to understand the market in a better way.
Maximize Market Research, a leading Material & Chemical business consultancy and research firm has published a report on the “Hot Melt Adhesives Market”. The total market opportunity for Hot Melt Adhesives Market was USD 9.52 Bn in 2023 and is expected to grow at a CAGR of 4.8 percent in the forecast period, reaching USD 13.22 Bn by 2030. As per the report, the global Hot Melt Adhesives Market is expected to be dominated by the Asia-Pacific and North America regions to grow at a significant growth rate through the forecast period.
Hot Melt Adhesives Market Report Scope and Research Methodology
Market Size in 2023: USD 9.52 Billion
Market Size in 2030: USD 13.22 Billion
CAGR: 4.8 Percent
Forecast Period: 2024-2030
Base Year: 2023
Number of Pages: 225
No. of Tables: 124
No. of Charts and Figures: 190
Segment Covered: By Product, Application, and Type.
Regional Scope: North America, Europe, Asia Pacific, Middle East and Africa, South America
Report Coverage: Market Share, Size and Forecast by Revenue | 2023−2030, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis.
Hot Melt Adhesives Market Scope and Research Methodology
The research gives a thorough information of the worldwide market structure and complete with predictions to identify possible investment areas and current industry trends. The global Hot Melt Adhesives market is influenced by a number of factors, including historical data, recent technology advancements, the competitive environment, and governmental policies. For clients, the Hot Melt Adhesives Market study offers details on the main forces, difficulties, constraints and possibilities. The competition analysis and segment analysis of the variables driving market growth are also included in the study. Key market participants are profiled based on their investments, expansion strategies, products, prices, and presence in Hot Melt Adhesives industry.
In order to provide precise and error-free judgments, a combination of primary and secondary research methodologies were employed to collect data for the Hot Melt Adhesives Market report. A PESTLE analysis is included in the Hot Melt Adhesives Market report to help with firm strategy planning. To determine the Hot Melt Adhesives Market’s strengths and weaknesses, a SWOT analysis was carried out.
Hot Melt Adhesives Market Overview
Hot Melt Adhesives is a type of thermoplastic adhesive that is often utilized in the form of solid cylindrical sticks with distinct gauge diameters, which is designed to be used in conjuctions with hot melt glue guns. Owing to increasing demand for innovative and enhanced goods in a variety of end-use sectors such as automotive, manufacturing, packaging, and furniture the global market of Hot Melt Adhesives is anticipated to show the growth in the forecasted period. The market is also positively impacted by potential government regulations and investment in innovative Hot Melt Adhesives. In addition,. increasing customers knowledge of non-wovens, pro-government rules, and soaring outlay in creating new hot melt adhesives actoss the world is driving the Hot Melt Adhesives Market.
Hot Melt Adhesives Market Dynamics
The increasing demand for polyurethane, which is used to create Hot Melt Adhesive, has been a key factor behind the rise in the usage of polymer-based Hot Melt Adhesives.The rise in the preference for hot melt adhesives among consumers for hot melt adhesives in Do It Yourself (DIY) art and craft projects throughout the world is driving Hot Melt Adhesives Market revenue growth. Because youngsters are participating in more art and craft projects to increase their artistry, hot melt glue use is increasing, which influencing the hot melt adhesive market. The assumptions made by biodegradable glue are to reduce the expense of environmentally harmful aspects in packaging applications and satisfy consumer needs at the same time, which is satisfying the environmentalist customers and driving the Hot Melt Adhesive Market.
Hot Melt Adhesives Market Regional Insights
The Asia-Pacific region is expected to continue its dominance in the hot melt adhesives market throughout the forecast period. The rapidly increasing e-commerce business, accompanied by the fast-growing need for nonwoven substances, is the primary driver of the growth. The market becomes more competitive because of the wide range of hot melt adhesive applications, and it faces a growing pool of consumers. The hot-melt adhesive market is growing rapidly in the area because of the increased growth of the packaging and pharmaceutical industries in countries like China, India, Japan, and South Korea. All these factors together are driving the market of hot melt adhesives in the region.
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Hot Melt Adhesives Market Segmentation
By Application:
- Packaging
- Bookbinding
- Assembly
- Woodworking
- Automotive
- Nonwovens
- Others
By Application, the Hot Melt Adhesives Market is divided into Packaging, Bookbinding, Assembly, Woodworking, Automotive, Nonwovens, and Others. The packaging segment is expected to dominate the Hot Melt Adhesives Market with the highest market share in forecasted period. The segment is driven by the rising demand for adequate packaging solution to avoid the damage to the materials while transporting and storing. Increasing demand for packaging in pharmaceutical and FMCG sector propelling the segment growth in the market.
By Product:
- Ethylene-vinyl Acetate (EVA)
- Polyurethane
- Rubber
- Polyolefin
- Others
By Type:
- Polyamide EVA (Ethylene-Vinyl Acetate)
- SBC (Styrenic Block Copolymers)
- PU (Polyurethane)
- APAO (Amorphous Poly-Alpha olefin & POE (Polyolefin Elastomers)
- Others
Hot Melt Adhesives Market Key Competitors include:
North America
- 3M Company
- Avery Dennison Company Profile
- B. Fuller
- Westlake
- DuPont de Nemours
- Huntsman
- RPM International
- IPS Corporation
- Infinity Bond Adhesives
- REXtac
- Master Bond
- Cattie Adhesives
Europe
- Henkel
- Sika Group
- Arkema
- BASF
- Evonik Industries
- Paramelt
- IMCD
Asia Pacific
- Jowat
- Shanghai Tianyang Hot Melt Adhesives Company
- Jaour Hot Melt Adhesive
- Metlok Private Limited
- Super Bond Adhesives
- Dycon Chemicals
Key questions answered in the Hot Melt Adhesives Market are:
- Who are the key players in the Hot Melt Adhesives Market?
- What are Hot Melt Adhesives?
- What are the growth drivers in developing countries for the Hot Melt Adhesives Market?
- Which segment is expected to witness the fastest growth and why in the Hot Melt Adhesives Market?
- What are the factors affecting growth in the Hot Melt Adhesives Market?
- Who held the largest market share in the Hot Melt Adhesives Market?
- What is the current growth rate of the Hot Melt Adhesives Market?
- What are the strategies used by competitors in the Hot Melt Adhesives Market?
- What are the challenges for the Hot Melt Adhesives Market?
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2023)
- Past Pricing and price curve by region (2018 to 2023)
- Market Size, Share, Size & Forecast by Different Segments | 2023−2030
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by Component, Deployment Mode, Organization Size and Industry and Region
- Competitive Landscape – Profiles of selected key players by region in a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of business by region
- Lucrative business opportunities with SWOT analysis
- Recommendations
Maximize Market Research is leading Material & Chemical research firm, has also published the following reports:
Hot Melt Adhesive Tapes Market–The market size is expected to reach USD 32.42 Bn by 2030 at a CAGR of 7.07 percent during the forecast period. It is expected to be driven by the diversified usage of hot melt tapes across various industries.
Calcium Acetate Market–The market size is expected to reach USD 158.6 Bn by 2030 at a CAGR of 3.56 percent during the forecast period. It is expected to be driven by an adoption of Calcium acetate in the food industry.
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical Components and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, Production and demand analysis, and client impact studies.
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