The Global Hot Melt Adhesives Market size is slated to experience a robust growth period owing to the increasing activities in the packaging industry around the globe. According to the World Packaging Organization, between 2011 and 2016, the global packaging industry grew by 24%, with its volume reaching 22.5 million tons in 2016. Asia recorded the highest growth, surging at 7.9% annually, with India showing the most promising prospects.
This is substantiated by a research conducted by the Wisconsin Economic Development Corporation, which found that the Indian packaging industry is expected to grow at 15% yearly in the next decade. Hot-melt adhesives are utilized extensively in the packaging industry and thus, growth of this industry will be one of the leading hot melt adhesives market trends during the forecast period.
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Prominent Players Identified by Fortune Business Insights™ in Its Report:
- HB Fuller Company
- Adhesive Direct UK
- Beardow Adams
- Henkel AG & Co.
- Tex Year Industries Inc.
- DOW Corning Corporation
- 3M Company
- Avery Dennison Corporation
- Jowat Se
In its report, titled “Hot Melt Adhesives Market Size, Share & Industry Analysis, By Type (Ethylene Viny Acetate, Styrenic Butadiene Copolymers, Polyolefin, Polyamides, Others), By Application (Packaging, Building Materials, Construction, Woodworking, Paper Making, Others) and Regional Forecast, 2019-2026”, Fortune Business Insights™ shares the following:
Multi-applicability of Hot Melt Adhesives to Fuel Their Demand
Hot-melt adhesives (HMAs) are solid derived from thermoplastic polymers. They remain in solid state at room temperature and liquefy when melted. Their unique property of wetting the substrate they are applied on and solidifying after a point makes them versatile. As a result, they are highly demanded in various industries where these adhesives are applied through glue guns and sticks that have a higher melting point.
For example, HMAs are used in gluing the spines of books. They are most widely employed in the packaging industry where they are utilized in closing openings in corrugated boxes cardboard cartons. In the electronics industry, HMAs are used in fixing different wires and parts and insulating components in a gadget, device or machine. These unique features of HMAs will boost up their demand and fuel the hot-melt adhesives market growth in the coming decade. Moreover, this will augur well for augmenting the sales of Ethylene Vinyl Acetate (EVA), a major segment in the hot-melt adhesives market.
Geographic Expansion of Operations by Players to Intensify Competition
According to the hot melt adhesives market analysis, key players are taking efforts to expand their geographic presence in order to crystallize their position in the market. Furthermore, a few participants are taking steps to bring down plastic pollution and reduce their carbon footprint. These measures are also aimed at enhancing the value of services and products offered by the companies to consumers.
Latin America to Offer Lucrative Opportunities; North America to the Lead the Pack
Geographically, North America is set to lead the hot melt adhesive market share during the forecast period owing to increasing popularity of Do It Yourself (DIY) activities such as woodworking and paper-binding. Industrial development in Latin American countries has led to the emergence of the region as a promising market for hot-melt adhesives. In Asia-Pacific, rising demand for EVA hot-melt adhesives from flourishing construction and packaging industries in China, India, and Japan will be the primary drivers of the market in the region.
Key Industry Developments:
- November 2019: Germany-based Henkel AG & Co. announced continuation of its partnership with the social platform, Plastic Bank, till 2024. Henkel supports the enterprise’s projects in Indonesia, Haiti, and the Philippines and declared that in 2020, the company will use more than 600 tons of recycled material from these countries in its product packaging operations.
- September 2019: In a bid to better establish its presence in Europe, UK-based adhesive specialist Beardow Adams inaugurated a new manufacturing facility in Frankfurt. The plant will focus on hot-melt adhesives and promote bio-based variants of its products to support sustainability and reduce emissions.
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