PUBLISHER: The Business Research Company | PRODUCT CODE: 1436635
PUBLISHER: The Business Research Company | PRODUCT CODE: 1436635
Reactive hot melt adhesive is a specialized type of adhesive that forms a bond through a reaction with the surface of the material being adhered to. This adhesive is noteworthy for its ability to create a robust and durable bond, even under extreme conditions.
Reactive hot melt adhesives are classified into high temperature and low temperature. High-temperature adhesives are defined as those with a temperature of 38 degrees Celsius or higher, used in the melt or reflow of thermoplastics. Substrates involved in reactive hot melt adhesives applications include plastic, wood, and others. Resin types in this category include polyurethane and polyolefin, utilized in automotive and transportation, doors and windows, upholstery, lamination, textile, and assembly applications.
The reactive hot melt adhesives market research report is one of a series of new reports from The Business Research Company that provides reactive hot melt adhesives market statistics, including reactive hot melt adhesives industry global market size, regional shares, competitors with reactive hot melt adhesives market share, detailed reactive hot melt adhesives market segments, market trends, and opportunities, and any further data you may need to thrive in the reactive hot melt adhesives industry. This reactive hot melt adhesives market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The reactive hot melt adhesives market size has grown strongly in recent years. It will grow from $1.26 billion in 2023 to $1.38 billion in 2024 at a compound annual growth rate (CAGR) of 9.3%. TThe historical growth in the specified period can be attributed to several factors, including the growth of end-use industries, a shift towards sustainable adhesives, emphasis on product performance and efficiency, adherence to stringent quality standards, and the adoption of cost-effective solutions.
The reactive hot melt adhesives market size is expected to see strong growth in the next few years. It will grow to $1.95 billion in 2028 at a compound annual growth rate (CAGR) of 9.1%. The anticipated growth in the forecast period can be attributed to several factors, including the increasing demand in electronics assembly, expansion in automotive manufacturing, advancements in the packaging industry, ongoing construction and infrastructure development, and the growing popularity of these materials in medical applications. These factors collectively contribute to the expansion of various industries.
The reactive hot melt adhesives market is poised for growth, driven by various factors. The increasing demand in the packaging industry is expected to be a significant catalyst for the market's expansion. Packaging plays a crucial role in product distribution, identification, storage, promotion, and usage. To meet the dynamic needs of the packaging industry, the hot-melt adhesives sector is tasked with providing strong and durable solutions. Projections by Smithers indicate that the global packaging sector's demand is set to reach $1.05 trillion by 2024. Additionally, data from the Indian Institute of Packaging (IIP) highlights a 200% increase in packaging consumption in India over the past decade, underscoring the industry's growth. This surge in demand from the packaging sector is a key driver for the reactive hot melt adhesives market.
The rise in residential construction projects is anticipated to contribute to the growing demand for reactive hot melt adhesives. Residential construction involves the planning, design, and construction of housing units, and the use of these adhesives in the construction industry enhances structural integrity and accelerates construction processes. According to Oxford Economics, global construction output was valued at US$10.7 trillion in 2020 and is expected to experience a 42% growth, reaching US$15.2 trillion by 2030, driven by a surge in residential construction projects. The growth projections indicate a 32% increase in North America, adding US$580 billion by 2030, and a 23% growth in Western Europe, pushing construction output to US$2.5 trillion in 2030. As a result, the rise in residential construction projects is a significant factor fueling the demand for reactive hot melt adhesives.
Technological advancements are a prominent trend gaining traction in the reactive hot melt adhesives market. Leading companies in this sector are strategically focusing on innovation to maintain their market position. An illustrative example is Henkel AG & Co., a German-based company in the chemical and consumer goods industries, which introduced Technomelt Supra ECO in February 2021. This new hot melt adhesive range incorporates advanced technology that enhances sustainability and reduces CO2 emissions while preserving the performance characteristics of the previous Technomelt Supra range. The Technomelt Supra ECO materials offer the same adhesion, set and open time, and heat resistance capabilities, providing a sustainable and low-carbon option for consumer goods and packaging.
Major companies in the reactive hot melt adhesives market are actively engaging in product launches, specifically tailored for woodworking applications, such as edge banding. Bostik, a France-based company specializing in adhesives and sealants, introduced SG6518 and SG6520 in May 2022, representing the Next Generation of Adhesive Solutions for Woodworking. These formulations, designed as HMPUR adhesive solutions, exhibit superior bonding strength, water resistance, anti-mold properties, and high green strength. These features contribute significantly to enhancing durability and quality in various woodworking applications within the reactive hot melt adhesives market.
In February 2022, Arkema, a France-based specialty chemicals and advanced materials company, acquired Shanghai Zhiguan Polymer Materials (PMP) for an undisclosed amount. This acquisition is aimed at strengthening Arkema's position in the engineering adhesives market and accelerating its development in the rapidly growing electronics market in Asia. Shanghai Zhiguan Polymer Materials (PMP) is a China-based company specializing in hot-melt adhesives for the consumer electronics market.
Major companies operating in the reactive hot melt adhesives market report are DOW Corning, 3M Company, Henkel AG & Co. KGaA, Illinois Tool Works Inc., Royal DSM N.V., Freudenberg & Co. KG, Arkema SA, Eastman Chemical Company, Sika AG, Avery Dennison, Huntsman Corporation, Konishi Co., Ltd., RPM International Inc., H.B. Fuller Company, Synthomer PLC, Ashland Global Holdings Inc., tesa SE, Kraton Polymers LLC, Nan Pao Resins Chemical Co. Ltd., Tianyang, Beardow & Adams, Bostik Inc., Kleiberit, DL Chemical Co., Ltd., Tex Year Industries, Jowat SE, Novamelt GmbH Klebstofftechnologie, Renhe, Zhejiang Good, Momenti Group S.p.A.
Asia-Pacific was the largest region in the reactive hot melt adhesives market share in 2023. The regions covered in the reactive hot melt adhesives market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the reactive hot melt adhesives market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The reactive hot-melt adhesives market consist of sales of ethylene-vinyl acetate (EVA) and polyolefin, or metallocene reactive hot-melt adhesives. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Reactive Hot Melt Adhesives Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on reactive hot melt adhesives market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for reactive hot melt adhesives ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The reactive hot melt adhesives market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.