Quick Summary:
In the rapidly evolving domain of adhesives, Hot Melt Adhesives (HMAs) are progressively capturing an escalating share of the wider market. Central to a multitude of sectors ranging from packaging, nonwovens, and furniture, to automotive, construction, and bookbinding, their popularity is fueled by several core benefits. Chiefly, these encompass faster drying and setting, cost-effectiveness, minimal VOC emissions, longer shelf lives, reduced waste, simplified application methods, and a cost factor that proves more attractive than solvent- and water-based alternatives.
Drilling down deeper, our report embraces a comprehensive spectral view of the HMA landscape. We address pertinent factors like various chemistry types including polyamides, EVAs, polyolefins, polyurethanes, and rubber-based options, along with key applications within various industries. Additionally, the study provides invaluable insights into the overall market dynamics, identifying regions exhibiting substantial growth potential such as China, India, Southeast Asia, and Latin America, spurred by their substantial, rapidly expanding end-consumer markets. The report endeavors to equip decision-makers with the required knowledge to manage the subtle nuances of this dynamic market, irrespective of associated challenges.
Technology Strategies Focus on Developing Bio-based Chemistries
Hot melt adhesives (HMAs) are a major component in packaging, nonwovens, furniture, automotive, construction, bookbinding, and other applications. HMAs have multiple advantages over other adhesive formulations, such as faster drying and setting, cost-effectiveness, and low volatile organic compound (VOC) emissions. Because HMAs have longer shelf lives, minimal waste, simpler application methods and are cheaper than solvent- and water-based adhesives, their market growth will be significant during the next 7 years.
Since 2020, the COVID-19 pandemic has adversely affected the supply chain for the global HMAs market. The frequent unavailability of shipping facilities, shutdowns at manufacturing plants and warehousing facilities, and interrupted raw material supply have caused increases in labor prices as well as transportation and ocean freight costs. Additionally, the Russo-Ukrainian War is impacting HMAs’ raw material prices and supply chain. Considering these macroeconomic factors, HMA manufacturers must develop effective strategies to manage the timeliness, pricing, and quality of their inventories for the next few years.
Polyamides, ethyl vinyl acetates (EVAs), polyolefins, polyurethanes (Pus), rubber-based, and other (acrylic, silicone, and polyester chemistries combined) are the chemistry types covered in this study. The key applications considered are packaging, nonwovens, furniture and woodworking, construction, graphics and bookbinding, and other (medical, electrical and electronics, textiles, and footwear). Key adhesive types discussed are reactive and non-reactive, and pressure sensitive and non-pressure sensitive. Each of the end-use industry applications discussed includes regional volume consumption and regional revenue estimates, along with revenue and volume estimates by chemistry, reactiveness, and pressure sensitiveness. Market share for the top HMA manufacturers is discussed at a global level.
The global HMAs market is challenged by the rising need for innovative chemistries that will cater to customers’ unmet needs, such as bio-based adhesives, biodegradable formulations, de-bondable HMAs, and heat-resistant adhesives. Development of new, high-performance, and innovative chemistries and other factors combined will contribute to higher prices and thereby revenue growth.
China, India, Southeast Asia, and Latin America will witness high growth in the next 7 years, due to their large, fast-growing end-consumer populations that will support end-use industry growth.
