Hot Melt Adhesives Market Size & Share, by Type (EVA, SBC, MPO, PA, APAO, PO, PU); Product (Ethylene-Vinyl Acetate, Rubber); Application (Bookbinding, Packaging Solutions, Furniture & Woodwork, Nonwoven Hygiene Products) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2035

  • Report ID: 4998
  • Published Date: Jun 02, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2023 - 2035

Hot Melt Adhesives Market size is poised to reach USD 24.68 Billion by 2035, growing at a CAGR of 7.8% from 2023 to 2032. In the year 2022, the industry size of hot melt adhesives was USD 10.02 Billion in 2022. The unique properties of hot melt adhesives make them suitable for bonding and sealing in different projects of construction, such as flooring installation, panel bonding, window and door assembly, and others. Therefore, rising construction activities will drive market growth.

The rising preference for hot melt adhesives over traditional adhesives is also aiding the hot melt adhesives market growth. Hot melt adhesives are generally solvent-free, which makes them environmentally friendly and safer to use. Moreover, when used in various industries, such as packaging, and construction, the production process increases, since hot melt adhesives have a fast setting time and are thus preferred over normal adhesives.


Hot Melt Adhesives Market
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Global Hot Melt Adhesives Market: Growth Drivers and Challenges

Growth Drivers

  • Growing Popularity of DIY– Hot melt adhesives are primarily bonding material in DIY crafts. Many people have indulged in DIY crafts during a pandemic and even people are searching for new ideas on social media. In general, diycrafts hashtag has been the most popular hashtag for 2020, with a continual year-over-year rise each month this year.
  • Expanding Food Packaging Industry– Hot melt adhesives are used in all types of food packaging, including cartons, sachet & pouches, tetra packs, and frozen foods. Moreover, in frozen food specific hot adhesive is used that offer remain sealed even in freezing temperature. It prevents moisture entry and enacts the quality of frozen food.
  • Growing Demand for Bio-Based Hot Melt Adhesives– Bio based adhesives are increasingly being used in the automobile industry, for various components, including door panels, dashboard, carpeting, and others. Considering an incredible 48% increase in the EV industry anticipated by 2030, the world may expect growing interest in bio-sourced adhesives.

Challenges

  • Weak Mechanical Properties – The bonding strength of hot melt adhesives is limited and they do not work well in high temperatures, therefore they are unsuitable for various applications. These adhesives are made for specific temperatures, therefore when they are exposed to extremely hot temperatures, the bond strength breaks and reduces the mechanical properties.
  • Availability of other adhesives
  • The complexity in the substrate compatibility

Hot Melt Adhesives Market: Key Insights

Base Year

2022

Forecast Year

2023-2035

CAGR

~ 7.8%

Base Year Market Size (2022)

~ USD 10.02 Billion

Forecast Year Market Size (2035)

~ USD 24.68 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Hot Melt Adhesives Segmentation

Product (Ethylene-Vinyl Acetate, Rubber)

The ethylene-vinyl acetate segment is estimated to hold 60% share of the global hot melt adhesives market by 2035. There are various applications of ethylene-vinyl acetate, including woodwork, paper, and the automobile sector. The growing demand for recycled packaging especially paper packaging significantly contributes to the segment growth, as ethylene vinyl acetate adhesive is primarily used in proving strength and rigidity to paper packaging. Paper packaging is the largest sector in the recycled materials market, accounting for approximately 65% of all recycled packaging.

Application (Bookbinding, Packaging Solutions, Furniture & Woodwork, Nonwoven Hygiene Products)

Hot melt adhesives market from the packaging solutions segment is expected to garner a significant share of around ~46% in the year 2035. Hot melt adhesives are used in packaging processes to seal cases, boxes, containers, and cartons. They provide rapid and dependable bonding, ensuring packaging safety throughout handling and transportation. Furthermore, the increased use of flexible packaging, such as pouches, bags, and wraps, will drive up demand for these adhesives.

Our in-depth analysis of the market includes the following segments:

        Type

  • EVA
  • SBC
  • MPO
  • PA
  • APAO
  • PO
  • PU

         Product

  • Ethylene-Vinyl Acetate
  • Rubber

         Application

  • Bookbinding
  • Packaging Solutions
  • Furniture & Woodwork
  • Nonwoven Hygiene Products
 

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Hot Melt Adhesives Industry - Regional Synopsis

APAC Market Statistics

The hot melt adhesives market in Asia Pacific is projected to be the largest with a share of about 33% by the end of 2035. The rising production of footwear is driving market growth. Hot melt adhesives play a significant role in the footwear industry. It is used for attaching the soles and insoles, for bonding the lining materials, and for attaching decorating material on the footwear. China is the world's largest footwear-producing country, accounting for more than half of global shoe production. Moreover, Wenzhou, China, now has over 4,000 shoe firms and produces over 1 billion shoes every year.

North American Industry Analysis

The North American hot melt adhesives market is estimated to be the second largest, registering a share of about 28% by the end of 2035. The growing popularity of online shopping and expanding e-commerce platforms will increase the demand for hot melt adhesives. There were around 268 million digital buyers in the United States in 2022, and this number is expected to rise to 285 million by 2025. There are various uses of the adhesives in the e-commerce industry, such as for sealing boxes, attaching labels, product assembly, and others. 

Research Nester
Hot Melt Adhesives Market Size
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Companies Dominating the Global Hot Melt Adhesives Market

top-features-companies
    • Henkel AG & Co. KGaA
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • H.B. Fuller Company
    • The Dow Chemical Company
    • Sika AG
    • Jowat SE
    • Arkema Group
    • 3M
    • Avery Dennison Corporation
    • Beardow Adams Group
    • Meridian Adhesives Group

In-the-news

In The News

  • Henkel AG & CO. KGaA announced the opening of new state-of-the-art facility for hot melt adhesives in Mexico. The plant is of around 30,000 square meters primarily focusing on the pressure-sensitive and non-pressure sensitive hot melt adhesives.
  • Meridian Adhesives Group announces the acquisition of Prime Blend, LLC, the key manufacturer of hot melt adhesives and coatings.

Author Credits:  Smruti Ranjan, Rajrani Baghel


  • Report ID: 4998
  • Published Date: Jun 02, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Increasing demand for food packaging, rising constructional activities, and rising demand for bio-based adhesives are the major factors driving the market growth.

: The market size of hot melt adhesives is anticipated to attain a CAGR of ~7.8% over the forecast period, i.e., 2023 – 2035.

The major players in the market are Henkel AG & Co. KGaA, H.B. Fuller Company, The Dow Chemical Company, Sika AG, Jowat SE, Arkema Group, 3M, Avery Dennison Corporation, Beardow Adams Group, Meridian Adhesives Group

The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.

The market is segmented by type, product, application, and by region.

The ethylene-vinyl acetate segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.

Lack of thermal stability and options of using other adhesives are estimated to be the growth hindering factors for the market expansion.

The market in the Asia Pacific region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.
Hot Melt Adhesives Market Report Scope
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