Selbyville, Delaware, Nov. 09, 2022 (GLOBE NEWSWIRE) -- According to a new research report by Global Market Insights Inc., the global Hot Melt Adhesives Market is estimated to surpass USD 26.5 billion by 2032.
Efforts to reduce carbon footprint and a shift towards sustainable packaging solutions will promote the use of hot melt adhesives with low VOC (volatile organic compound) content. Businesses are switching to these adhesives as they have lower VOC, are easy to apply, and showcase longer shelf life. Advancements in the industrial sector like the adoption of high-speed manufacturing and automation will support the demand for these adhesives.
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Growing research & development (R&D) activities will help improve product quality and application across various areas like furniture, packaging, medical, electronic, and automobile. New R&D initiatives to produce eco-friendly products should reduce environmental impacts and create market growth opportunities.
Polyamide segment should register over 7.4% gains by the year 2032. Hot melt polyamide adhesives are 100% non-volatile, thermoplastic adhesive resins. The product exhibit beneficial properties like good chemical and grease resistance, excellent performance at elevated temperatures, low application viscosity, and adhesion to a variety of substrates. These factors should drive its use across applications like woodworking due to their good adhesion to wood and efficient knot filling. Hot melt polyamide adhesives are also widely used in automotive and electronics industries owing to their heat and oil & grease resistance.
Browse key industry insights spread across 360 pages with 223 market data tables and 52 figures & charts from the report “Hot Melt Adhesives Market Size Statistic By Products (Ethylene Vinyl Acetate (EVA), Styrenic Block Copolymer (SBC), Amorphous poly-alpha-olefin (AMOP), Metallocene Polyolefins (MPO), Polyurethane (PU), Polyamide (PA), Polyester), By Application (Packaging, Disposables, Pressure Sensitive Products, Book Binding, Furniture, Footwear, Automobile, Textile, Electronics, Healthcare, Manufacturing), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2023 – 2032”, in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/hot-melt-adhesives-market
Global hot melt adhesives market from automotive applications is estimated to surpass USD 2 billion by 2032. Automotive manufacturing activities have picked up at a substantial rate across emerging countries like China, India, and South Korea. For instance, India is the fourth-largest automotive market worldwide and is expected to see a growth of 10% in 2022. Hot melt adhesives are used in automotive applications such as car seats, headlight assemblies, and panel laminations. They offer various benefits such as chemical inertness, UV resistance, and corrosion resistance. A rapid rise in vehicle sales and a shift to electric mobility will accelerate product penetration in the coming years.
Asia Pacific hot melt adhesives industry is likely to register an 8.5% CAGR over the predicted timeframe of 2023-2032. Growing demand for adhesives in the paper, board, packaging, and electronics industries should support this growth. Countries like China and India are witnessing an upward trend in the sales of consumer electronics. According to the Ministry of Industry and Information Technology, China ranks first worldwide in the production & sales of consumer electronics. The rising need for corrugated boxes and packaging solutions will augment product deployment across the sector.
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Leading industry players in the global hot melt adhesives market include Henkel AG & Co, KgaA, Ashland, Inc, Arkema Group, HB Fuller, Sika AG, 3M, Dow Chemical Company, Avery Dennison Corporation, Jowat Klebstoffe, Palmetto Adhesives Company, Applied Adhesives, Power Adhesives Ltd, Hexcel Corporation, Worthen Industries, Huntsman Corporation, Beardow & Adams Ltd, Sealock Ltd, Grupodesa, Tex Year Industries, Inc, and Cattie Adhesives.
New partnerships and acquisitions will enable these firms to expand their business footprint. In February 2022, Arkema acquired Shanghai Zhiguan Polymer Materials (PMP), a company that specializes in hot-melt adhesives for the consumer electronics sector. The strategic acquisition was aimed to expand Arkema’s engineering adhesives portfolio and accelerate its business footprint in Asia.
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Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
