Market Research Report
Hot Melt Adhesives Market Size By Type, By Application Industry Analysis Report, Regional Outlook, Growth Potential, Price Trend, Competitive Market Share & Forecast, 2021 - 2027
|Hot Melt Adhesives Market Size By Type, By Application Industry Analysis Report, Regional Outlook, Growth Potential, Price Trend, Competitive Market Share & Forecast, 2021 - 2027|
Published: March 8, 2021
Global Market Insights Inc.
Content info: 310 Pages
Delivery time: 2-3 business days
Hot Melt Adhesives (HMA) Market Size By Type (Ethylene Vinyl Acetate (EVA), Styrenic Block Copolymer (SBC), Amorphous poly-alpha-olefin (AMOP), Metallocene Polyolefins (MPO), Polyurethane (PU), Polyamide (PA), Polyester), By Application (Pressure sensitive products, Packaging, Disposables, Book Binding, Furniture, Footwear, Automobile, Textile, Electronics) Industry Analysis Report, Regional Outlook, Growth Potential, Price Trend, Competitive Market Share & Forecast, 2021 - 2027.
The global hot melt adhesive market is set to witness immense growth in the coming years owing to increasing application of Amorphous poly-alpha-olefin product, growing demand for MPO hot melt adhesive mainly in packaging industry and high product scope in various application avenues like automobile electronics, packaging, book binding, and footwear among others. Hot melt is basically the name given to any polymer-based glue which is efficiently applied in a molten state. Hot melt adhesives are known to be very versatile in nature. In general terms, these are applied by extruding spaying or rolling and the high melt viscosity makes them the best for permeable and porous substrates.
The global hot melt adhesive market is segmented into product, application, and regional landscape.
With respect to product, the market for hot melt adhesive is classified into Polyester, Polyamide, Polyurethane, MPO (Metallocene Polyolefins), Amorphous poly-alpha-olefin (AMOP), Styrenic Block Copolymer (SBC), and EVA (Ethylene Vinly Acetate). AMOP hot melt adhesive segment will witness robust growth since it offers high heat resistance and high durability.
This is mainly due to its application in interior and exterior vehicle applications in automotive industry. MPO hot melt adhesive is widely used in carton sealing owing to its demand from packaging industry which shows opportunity for the hot melt adhesive market growth.
Meanwhile, Polyurethane segment is predicted to witness the fastest growth since it offers fast set time which has application in glassware repair thus boosting the overall HMA market growth. In 2020, the hot melt adhesive market for polyester segment was estimated to be worth over $225 million. The segment is expected to showcase a promising growth rate during the study period.
In terms of application, the overall hot melt adhesive market is categorized into electronics, textile, automobile, footwear, furniture, book binding, pressure sensitive products, disposable, and packaging. Among these, the packaging segment will witness strong demand owing to the expanding e-commerce industry. The disposable application segment is projected to grow at 7.6% CAGR over the analysis timeline.
Subsequently, hot melt adhesive is extensively used for labeling in pressure sensitive products which is likely to foster the pressure sensitive products segments growth. The book binding application is expected to reach approximately $520 million by end of 2027.
Meanwhile, the automotive application segment is likely to experience robust growth since the product is widely used for long lasting bonding in interior work of vehicles thus raising the product demand from automotive industry. HMA is widely used for light weight and good finishing in electronic devices which should raise product demand from electronic application segment.
From a regional frame of reference, the hot melt adhesive market in LATAM was estimated to be over $855 million in 2020 and will showcase robust growth over the coming time period.
Meanwhile, MEA hot melt adhesive market is slated to grow at a CAGR of more than 5.1% over the projected time period.