Pune, India, May 12, 2022 (GLOBE NEWSWIRE) -- The North America hot melt adhesives market size stood at USD 1.86 billion in 2021. The market is anticipated to surge from USD 1.98 billion in 2022 to USD 2.80 billion by 2029 at a 5.1% CAGR during the forecast period. Fortune Business Insights™ has elucidated these insights in its latest research report, titled, “North America Hot Melt Adhesives Market, 2022-2029.”
According to the analysis, hot melt adhesives (HMAs) will be highly sought-after for manufacturing solid materials based on thermal polymers. Prominently, expanding the packaging and construction sector will augur well for the regional growth. For instance, HMAs have become trendier to maintain storage space in the automotive sector amidst soaring demand for pressure-sensitive adhesives.
Major Players Profiled in the Market Report:
- Exxon Mobil Corporation (U.S.)
- Dow Inc. (U.S.)
- 3M (U.S.)
- Henkel Corporation (Germany)
- H.B. Fuller Company (U.S.)
- BASF SE (Germany)
- Sika AG (Switzerland)
- Bostik (France)
- AVERY DENNISON CORPORATION (U.S.)
- LyondellBasell Industries Holdings B.V. (U.S.)
Get Sample PDF Brochure:
COVID-19 Impact
Moderate Demand from Construction Sector to Challenge Stakeholders
With the prevalence of supply chain disruptions across construction, footwear and packaging industries, industry players struggled to expand their penetration. Industry participants observed shifting global trade relations and transportation delays, prompting companies to invest in local production. Stakeholders are likely to bank on digital technology to boost the footfall of adhesives across the U.S. and Canada. In doing so, adhesive manufacturers could seek e-commerce channels and portable devices to expand their penetration.
Report Coverage
The report offers a comprehensive perspective of the market size, share, revenue and volume. It has also delved into Porters’ Five Force Analysis SWOT analysis. Quantitative and qualitative assessments have provided a holistic view of the North America Hot Melt Adhesives Market. The primary interviews validate assumptions, findings and the prevailing business scenarios. The report also includes secondary resources, such as annual reports, press releases, white papers and journals.
Segmentations
Based on raw material
- polyester
- Styrenic Block Copolymer (SBC)
- polyolefin, Ethylene Vinyl Acetate (EVA)
- polyurethane (PU)
By Application
- Packaging
- Assembly
- Woodworking
- Transportation
- Building & Construction
- Footwear & Leather
- Nonwovens
- Bookbinding
The ethylene-vinyl acetate segment is likely to expand at a notable CAGR owing to surging demand for solar panels, packaging and pharmaceutical products. Moreover, rising investments in leather and footwear will encourage companies to invest in the portfolio.
Packaging to Gain Traction from the Presence of Leading Companies
In terms of application, the industry includes packaging, woodworking, transportation, assembly, footwear & leather, building & construction, bookbinding, nonwovens and others segments. The packaging application will account for a notable share of the North America market due to the trend for convenient options. Besides, leading players have infused funds into innovations and R&D activities.
Browse Detailed Summary of Research Report with TOC:
https://www.fortunebusinessinsights.com/north-america-hot-melt-adhesives-market-106627
Drivers and Restraints
Trend for Biodegradable Adhesive Packaging to Underpin Regional Growth
North America hot melt adhesives market growth will be noticeable on the back of the trend for biodegradable packaging across packaging, lamination and bookbinding industries. The global push for sustainable packaging solutions has prompted investments in biodegradable hot melt adhesives. Furthermore, traction for online shopping has augured well for leading companies vying to boost their footfall. Adhesive manufacturers could gain an uptick from the e-commerce sector across the U.S. and Canada. It is worth mentioning that durability, tremendous adhesion and adaptability to surfaces will play a pivotal role in boosting the industry growth.
Meanwhile, possible chances of downtime could mar the regional growth in the ensuing period.
Regional Insights
The U.S. to Spearhead Growth Outlook with Expanding Construction Activities
The U.S. market forecast will be strong in the wake of surging demand from commercial and residential activities across the region. Prominently, rising investments in the furniture sector could propel the penetration of polyurethane-based adhesives. It is worth noting that HMAs receive impetus from the rising production of automotive interior panels.
Canada will contribute significantly toward North America hot melt adhesives market share in the light of bullish demand for advanced infrastructure. End-users are likely to bank on burgeoning industrialization and urbanization over the next few years. Industry players are likely to invest in hot melt adhesives with a surge in demand for the paper board.
Speak to our experts:
Competitive Landscape
Stakeholders Invest in Product Launches to Expand their Footprint
Major players could infuse funds into product launches, technological advancements, mergers & acquisitions and R&D activities. Besides, leading companies will focus on innovations to boost their footfall in the next few years.
Prominent Industry Development
- December 2020 – H.B. Fuller Company announced the launch of adhesive grades for intense cold handling of vaccinations and drug packaging.
Table of Content
- Introduction
- Research Scope
- North America Hot Melt Adhesives Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Emerging Trends
- Key Insights
- Key Emerging Trends
- Regulatory Analysis
- Recent Industry Developments - Policies, Partnerships, New Raw Material Launches, and Mergers & Acquisitions
- Latest Technological Advancement
- Porters Five Forces Analysis
- Qualitative Insights – Impact of COVID-19 on North America Hot Melt Adhesives Market
- Supply Chain Challenges
- Steps taken by Government/Companies to overcome this impact
- Potential opportunities due to COVID-19 outbreak
- North America Hot Melt Adhesives Market Analysis, Insights and Forecast, By Raw Material 2018-2029
- Key Findings / Summary
- Market Size Estimates and Forecast (Volume/Value)
- Ethylene Vinyl Acetate (EVA)
- Polyolefin
- Styrenic Block Copolymers (SBC)
- Polyurethane (PU)
- Polyester
- Others
Table of content continued
Inquire Before Buying This Report:
Read Related Insights:
Hot Melt Adhesives Market Size, Share and Regional Forecast, 2022-2029
About Us:
Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.
Address:
Fortune Business Insights Pvt. Ltd.9th Floor, Icon Tower, Baner –
Mahalunge Road, Baner, Pune-411045,
Maharashtra, India.
Phone:
US: +1 424 253 0390
UK: +44 2071 939123
APAC: +91 744 740 1245
Email: sales@fortunebusinessinsights.com
