Dublin, Jan. 17, 2024 (GLOBE NEWSWIRE) -- The "Reactive Hot Melt Adhesives Market by Resin Type (Polyurethane, Polyolefin), Substrate (Plastic, Wood), Application (Automotive & Transportation, Doors & Windows, Furniture & Upholstery, Lamination, Textile), & Region - Global Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The reactive hot melt adhesives market size is projected to reach USD 2.6 billion by 2028 at a CAGR of 7% from USD 1.6 billion in 2022.
Reactive hot melt adhesives are widely used in the automotive industry for bonding various components, including plastic and metal parts. They contribute to structural integrity, noise reduction, and overall assembly efficiency.
The key companies profiled in this report are Henkel AG & Co. KGaA (Germany), The Dow Chemical Company (US), H.B. Fuller Company (US), Jowat SE (Germany), and 3M (US).
Polyolefin is the fastest-growing resin type segment of reactive hot melt adhesives market.
Polyolefin-based reactive hot melt adhesives offer many advantages, including excellent bond strength, cost-effectiveness, reduced VOC emissions, and fast setting, etc. In the current scenario, a limited number of companies are using polyolefin chemistry for manufacturing and few companies are using polyolefin chemistry to manufacture moisture-cured adhesives.
Plastic accounted for the largest substrate segment of reactive hot melt adhesives market.
Plastic is the largest substrate segment in the overall market. Industries utilize over 4,500 types of plastics, with ongoing developments in formulating new plastic materials. The processing and application of these plastics vary, and not all respond uniformly to bonding. Challenges like poor compatibility, surface wetting, and inert surfaces may arise during plastic bonding. Reactive hot melt adhesives undergo a reactive process, including crosslinking, when exposed to heat. This process enhances the bond's strength and durability, a crucial aspect for applications requiring a robust connection, such as assembling plastic components in automotive or electronics.
Automotive & Transportation, by application accounted for the largest segment of reactive hot melt adhesives market
Rising demand for lightweight and fuel-efficient vehicles is encouraging automobile manufacturers to adopt advanced materials, including composites, which can be bonded by adhesives. This, in turn, is increasing the demand for reactive hot melt adhesives, which are increasingly replacing mechanical fasteners, such as screws, welds, bolts, and nuts. The application of reactive hot melt adhesives in the automotive industry has resulted in cost savings, which are also driving the market in the automotive industry.
Asia Pacific, by region is forecasted to be the fastest segment of reactive hot melt adhesives market during the forecast period.
Asia Pacific has been the most favorable destination for the manufacturers of reactive hot melt adhesives, even during the global economic slowdown. The growing middle-class population in numerous Asia Pacific countries has elevated consumer spending, resulting in increased demand for products containing reactive hot melt adhesives, including electronics, appliances, and furniture. To leverage cost advantages and access the expanding market, several multinational companies have established or expanded their manufacturing facilities in the Asia Pacific region, further fueling the demand for reactive hot melt adhesives.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 337 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $1.6 Billion |
| Forecasted Market Value (USD) by 2028 | $2.6 Billion |
| Compound Annual Growth Rate | 7.9% |
| Regions Covered | Global |
Premium Insights
- Reactive Hot Melt Adhesives Market to Witness Moderate Growth Between 2023 and 2028
- Polyurethane to be Dominant Segment Between 2023 and 2028
- China Dominated Market in Asia-Pacific
- Reactive Hot Melt Adhesives Market to Witness Higher Growth in Developing Countries
- Automotive & Transportation to Register Highest CAGR in Reactive Hot Melt Adhesives Market
- India to Emerge as a Lucrative Market for Reactive Hot Melt Adhesives Between 2023 and 2028
Market Overview
Drivers
- Superior Properties Over Conventional Adhesives
- Growing Demand for Lightweight and Low-Carbon Emitting Vehicles
- Increasing Construction Activities
- Stringent Regulatory Standards
Restraints
- Availability of Alternative Adhesive Technologies
- High Curing Time Compared to Other Technologies
Opportunities
- Technological Advancements in Reactive Hot Melt Adhesives
- Increasing Demand in Emerging Economies
Challenges
- Low Open Time for Application
Industry Trends
- Supply Chain Analysis
- Ecosystem Mapping
- Trends and Disruptions Impacting Customer Business
- Key Stakeholders & Buying Criteria
- Key Stakeholders in Buying Process
- Buying Criteria
- Pricing Analysis
- Reactive Hot Melt Adhesives Market: Average Selling Price Trend, by Region
- Average Selling Price Trend, by Resin Type
- Average Selling Price Trend, by Substrate
- Average Selling Price Trend, by Application
- Average Selling Price Competitiveness in Reactive Hot Melt Adhesives Market, by Major Countries
- Average Selling Price Trend of Key Players, by Application
Trade Analysis
- Export Scenario of Reactive Hot Melt Adhesives
- Import Scenario of Reactive Hot Melt Adhesives
- Global Economic Scenario Affecting Market Growth
- Russia-Ukraine War
- China
- China’s Debt Problem
- Environmental Commitments
- Europe
- Political Instability in Germany
- Energy Crisis in Europe
- Tariff & Regulatory Landscape
- Regulations Related to Reactive Hot Melt Adhesives
- Regulatory Bodies, Government Agencies, and Other Organizations
Patent Analysis
- List of Major Patents
- Case Study Analysis
- Technology Analysis
- Key Conferences & Events in 2023-2024
Company Profiles
Key Players
- Henkel AG & Co. KGaa
- H.B. Fuller Company
- 3M
- Jowat SE
- Arkema
- The Dow Chemical Company
- Sika AG
- DIC Corporation
- Nanpao Resins Chemical Group
- Daubert Chemical Company
Other Players
- Kleiberit Se & Co. Kg
- TEX Year Industries Inc.
- Chemence
- Cattie Adhesives
- Franklin International
- The Reynolds Company
- Adhesives Direct UK Limited
- Buhnen GmbH & Co. Kg
- Cherng Tay Technology Co. Ltd.
- Worthen Industries
- Coating P. Materials Co. Ltd.
- Tianyang New Materials (Shanghai) Technology Co. Ltd.
- Taiwan Pu Corporation
- Advatac Ltd
- Wenzhou Huate Hot Melt Adhesive Co. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/4ln073
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