Global Hot Melt Adhesives Market size is projected to be valued $11 Billion by 2024; with a CAGR of 6.4% from 2017 to 2025. The hot melt adhesives are available in the form of granules, foil, slats, powder, blocks, ribbons, and others. Currently, dispensers and glue guns are most widely used equipment to apply the hot met adhesives. Industries such as consumer goods and construction widely use hot melt adhesives for manufacturing pressure-sensitive products.
Increasing demand from packaging industry, rising need for replacing other adhesive technologies, growth in non-woven disposable industries, and need for high-performance solutions are the key drivers propelling the growth of the global hot melt adhesives market. However, fluctuating price of raw materials and low thermal resistance are the major hinderance of the market growth. Furthermore, market expansion, and rising trend of printed and graphic products would create growth opportunities in the coming years.
The global hot melt adhesives market is categorized on the basis of type, application, and geography. Type segment includes ethylene-vinyl acetate (EVA), polyurethane (PUR), styrene block copolymers (SBS/SIS), hot melt pressure sensitive adhesives (HMPSA), polyamide (PA), and other types. Application is segmented as packaging, electronics, wood and furniture, automotive, non-woven/hygiene, construction, and other applications.
Based on geographical analysis, global hot melt adhesives market is segmented into North America, Europe, Asia-Pacific, and Rest of the World (RoW). North America is further bifurcated in U.S., Canada, and Mexico whereas Europe consists of UK, Germany, Italy, France, and rest of Europe. Asia-Pacific is segmented into China, India, Japan, South Korea, and rest of Asia-Pacific, while RoW is bifurcated into South America, Middle East, and Africa.
The key players competing in this market include Dow Corning, Jowat SE, Henkel AG & Company, Palmetto Adhesives Company, American Chemical Inc., Sika AG, 3M Company, Toyobo Co., Ltd., Worthen Industries, and Beardow & ADAMS (Adhesives) Limited, among others.
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Scope of the Global Hot Melt Adhesives Market