Description: Hot melt adhesives (HMA) are solvent-free thermoplastic compounds, also called as hot glue. These adhesives are heated in the temperature range of 120°C to 180°C to melt and used on the surface, which later toughen on cooling to give a strong adhesion. The temperature range depends upon the surface on which the adhesives are applied.
Trends, and key driving factors of the global hot melt adhesives market:
The global hot melt adhesives market has witnessed sustainable growth due to increasing demand of HMAs in various applications such as furniture & woodwork, nonwoven hygiene products etc. Furthermore, the overall market is also being propelled by the swiftly increasing demand from emerging countries such as China and India. Extensive growth in the packaging and nonwoven industry are some of the major factors responsible for this growth. The market is further boosted by technological advancements in hot melt adhesives by various vendors across the globe. One of the prominent trend witnessed by this market include surging use of HMAs in road marking application. However, the global hot melt adhesives market is hampered by lower thermal resistance and volatility in the raw material prices.
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The ethylene-vinyl acetate (EVA) accounted for the largest share of the hot melt adhesives market in 2017. Wide usage of ethylene-vinyl acetate in the production of hot melt adhesives for various applications and its cost effectiveness over other types are boosting this segment growth.
In 2017, the packaging solutions accounted for the largest market share due to increasing use of HMAs in the manufacture of packaging solution products for food packaging and specialty packaging.
North America is estimated to account for the largest share in 2017, followed by Europe and Asia Pacific. High demand for hot melt adhesives in various applications such as packaging and automotive & transport are fuelling the growth in North America.
The Asia-Pacific region is also expected to grow at the highest CAGR during the forecast period. This high growth can be attributed to increasing consumer awareness regarding hygiene coupled with growing demand for nonwoven hygiene products.
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Some of the market players of the global hot melt adhesives market:
3M Company, Arkema, Avery Dennison Corporation, Beardow & Adams (Adhesives) Ltd., DOW Corning Corporation, HB Fuller Company, Henkel AG & Co. KGaA, Jowat Se, Sika AG and Tex Year Industries Inc. Other companies mentioned in the report are, Adhesive Direct UK, Adtek Malaysia SDN BHD, Buhnen GmbH & Co. Kg, Cherng Tay Technology Co., Ltd., Costchem SRL, Daubert Chemical Company, Evans Adhesive Corporation, Ltd., Evonik Industries AG, Helmitin Adhesives, Klebchemie GmbH & Co. Kg, KMS Adhesives Ltd., Sanyhot Adhesivos S.A., Sealock Ltd., Toyobo Co., Ltd. and Worthen Industries among others.
The hot melt adhesives market segmentations based on resin type, application and geography.
Global hot melt adhesives market by Resin Type,
• Amorphous poly-alpha olefin (APAO)
• Ethylene-vinyl acetate (EVA)
• Metallocene polyolefin (MPO)
• Polyurethane (PU)
• Styrenic block copolymers and others.
Global hot melt adhesives market by Application,
• Furniture & woodwork
• Nonwoven hygiene products
• Packaging solutions
• Others (automotive & transport, footwear, electronics etc.).
• North America
• Asia Pacific
• Rest of the world