(MENAFN- EIN Presswire) Hot Melt Adhesive Market
SHERIDAN, WYOMING, UNITED STATES, April 5, 2023 /einpresswire.com / -- According to IMARC Group's latest report, titled“Hot Melt Adhesive Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the global hot melt adhesive market size reached US$ 7.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 10.1 Billion by 2028, exhibiting a growth rate (CAGR) of 5.3% during 2023-2028.
Hot melt adhesives refer to solid formulations that are based on thermoplastic polymers. They remain solids under normal temperature but turn into liquids when they are heated above their softening point. Upon solidification, they return to a physical state with structural integrity and can act as an adhesive. Hot melt adhesives are manufactured by mixing thermoplastics with waxes, plasticizers, resins, fillers, and antioxidants. Compared to other adhesives, these adhesives bond instantly with plastics, ceramics, glass, paper, wood, rubbers, metal, etc. As a result, hot melt adhesives find extensive applications across the packaging, construction, food and beverage, textiles, and automotive industries.
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Market Trends
The expanding packaging sector is primarily catalyzing the demand for hot melt adhesives for sealing, assembling, and labeling corrugated boxes, paperboard, and other packaging products. Furthermore, rising infrastructural development is also augmenting the use of hot melt adhesives for binding ceramics, wood panels, flooring materials, and reengineered plastics. Additionally, hot adhesives are increasingly being used in the food and beverages sector for the packaging processed food and drinks as they are free from volatile organic compounds (VOCs) that cause foul odor and can deteriorate the food quality. Besides this, the advent of the PUR technology has led to the introduction of advanced product variants providing high heat resistance, UV protection, and superior binding strength, thereby further driving the global market for hot melt adhesives.
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List of Key Companies Covered in this Market Report:
3M Company
Arkema S.A.
Ashland Global Holdings Inc.
Avery Dennison Corporation
Beardow & Adams Ltd.
Dow Inc.
H.B. Fuller Company
Henkel AG & Co. KGaA
Jowat SE
Paramelt B.V.
Sika AG
Wacker Chemie AG.
The report has segmented the market on the basis of resin type, application, product form and geography.
Breakup by Resin Type:
Ethylene Vinyl Acetate (EVA)
Styrenic Block Copolymers (SBC)
Mettalocene Polyolefin (MPO)
Amorphous Polyalphaolefins (APAO)
Polyolefins
Polyamides
Polyurethane (PU)
Others
Breakup by Application:
Packaging
Automotive
Printing and Publishing
Furnitures and Woodwork
Textiles
Electronics
Construction
Others
Breakup by Product Form:
Pellets
Blocks
Glue Sticks
Others
Breakup by Geography:
North America (U.S. & Canada)
Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
Latin America (Brazil, Mexico)
Middle East & Africa
Key highlights of the report:
Market Performance (2017-2022)
Market Outlook (2023- 2028)
Porter's Five Forces Analysis
Market Drivers and Success Factors
SWOT Analysis
Value Chain
Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
Elena Anderson
IMARC Services Private Limited
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