Hot Melt Adhesives Market By Product Type (Ethylene Vinyl Acetate, Styrenic Block Copolymer, Polyurethane, Polyamide, Amorphous Polyalphaolefins, Metallocene Polyolefins and Polyester); By Application (Packaging, Disposables, Pressure sensitive products, Book binding, Furniture, Footwear, Automobile, Textile, Electronics and others); and Region – Global Analysis of Market Size, Share & Trends for 2019– 2020 and Forecasts to 2030.
Product Overview
Hot melt adhesive (HMA) is a type of thermoplastic adhesive, which is typically marketed as solid cylindrical sticks of different diameters designed to be applied with a hot glue gun. To melt the plastic glue, which the user pushes through the gun either with a mechanical trigger mechanism on the gun or with direct finger pressure, the gun uses a continuous heating element. These adhesives are applied to a liquid substance and give a minimum of toxicity in an easy-to-clean application. Hot-melt adhesives are primarily used in bookbinding, for coatings, for the manufacture of packaging, diapers, other sanitary products, and tapes. Hot melt adhesives offer the fastest method of bonding and hot melt equipment has a far smaller footprint than other bonding techniques.
Market Highlights
Global Hot Melt Adhesives is expected to project a notable CAGR of 5.98 % in 2030.
Global Hot Melt Adhesives to surpass USD 13.47 billion by 2030 from USD 7.53 billion in 2020 at a CAGR of 5.98 % in the coming years, i.e., 2021-30. Surging demand of hot melt adhesives from the packaging industry and non-woven products application is driving the growth of the market. Hot melt adhesives (HMAs) do not need drying or curing, unlike their solvent- or water-based counterparts. They can be applied in their molten state and can hence be bonded immediately after application, giving them the distinct benefit of faster processing times in different applications, including packaging, nonwovens (diapers and hygiene products for women), furniture, industrial products. All these factors are expected to deliver attractive growth opportunities to the global hot melt adhesives market during the projected period.
Recent Highlights in Global Hot Melt Adhesives
In July 2020, Arkema Group acquired Fixatti NV, a company producing thermobonding adhesive powder. Fixatti NV owns two production sites in Europe and one in China. The transaction would support Arkema Group strengthen its hot melt adhesives product portfolio and is in line with the company’s vision to become a pure specialty materials player by 2024.
In October 2017, Avery Dennison commissioned a hot melt adhesive coating line in Malaysia to expand its market position by leveraging the growth potential of Southeast Asia.
Global Hot Melt Adhesives: Segments
Ethylene Vinyl Acetate segment to grow with the highest CAGR during 2020-30
Global Hot Melt Adhesives is segmented by Product Type into ethylene-vinyl acetate, styrene block copolymer, polyurethane, polyamide, amorphous polyalphaolefins, metallocene polyolefins, and polyester. Ethylene Vinyl Acetate, the segment held the largest market share in the year 2020 because of their durability, versatility and it holds strong adhesion properties which makes it suitable for packaging and woodworking sectors. In addition, supportive government regulations in regard with the usage of low VOC adhesives is boosting the growth of the segment.
Packaging segment to grow with the highest CAGR during 2020-30
Global Hot Melt Adhesives is divided by Application into packaging, disposables, pressure-sensitive products, bookbinding, furniture, footwear, automobile, textile, electronics, and others. Packaging, segment held the largest market share in the year 2020 and will continue to dominate the market in the coming years. The growth of the segment of the market is driven by the bonding, superior speed, and adhesion ability of hot melt adhesives which make them suitable for products in corrugated cases, sealing bottles and paper board cartons, and other packaging products.
Market Dynamics
Drivers
Booming demand of hot melt adhesives from packaging industry
In recent years, packaging industry is flourishing at a rapid pace owing to the surging demand for packaged food and beverages globally. Hot melt adhesives are extensively used in the paper, board, and packaging industry as packaged products require flexible as well as rigid packaging. Hot melt adhesives have a range of applications from printed sheets lamination and corrugated box construction to packaging materials which is used for all types of consumer products and the manufacturing of large industrial cores and tubes. Furthermore, the expanding e-commerce industry is bolstering the demand for packaging solutions. An increase in online shopping and rising consumption of packaged food products is expected to surge the demand for hot melt adhesives.
High adoption of hot melt adhesives in DIY applications
Hot melt adhesives are considered an ideal material for DIY applications since they can bind to a wide range of materials and surfaces such as papers, ceramic, fabric plastics, cardboard, and metal. While in developed economies such as North America and Europe DIY is common, it is a relatively new notion. The DIY applications include art, woodworking, packaging of general products, and others. In DIY application hot melt adhesives are commonly used in stick form due to their easy usage and easy accessibility of hot melt adhesives guns.
Restraint
Unstable prices of raw material
Varying prices of raw materials is the major factor that is likely to hamper the global Hot Melt Adhesives market in the near future. Raw materials used in the adhesives have volatile prices and such volatility can impact the profit margins of the manufacturers. It is difficult for the manufacturers maintain a balance between production costs and selling prices which is likely to impede the growth of the hot melt adhesive market. Additionally, strict regulations in the developing economies is expected to hamper the growth of the global demand for hot melt adhesives in the coming years.
Global Hot Melt Adhesives: Key Players
Dow Inc.
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
3M Co.
Adtek Consolidated Sdn. Bhd.
Arkema Group
Beardow Adams
Bond Tech Industries
Bühnen GmbH & Co. KG
Cherng Tay Technology Co., Ltd.
Costchem S.r.l.
Daubert Chemical Co.
Other Prominent Players
Global Hot Melt Adhesives: Regions
Global Hot Melt Adhesives is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific, and Middle East, and Africa. Global Hot Melt Adhesives in Asia Pacific held the largest market share of XX.X% in the year 2020. Asia Pacific will continue to dominate the global Hot Melt Adhesives. The growth of the segment is driven by the growing demand for packaging and disposable hygiene products and the presence of major market players in the region. Besides, growing consumer awareness regarding hygiene and the escalating demand for nonwoven hygiene products is contributing to the growth of the region. In addition to this, the substantial impact of western culture on the region has also propelled several attractive applications that positively impact the market growth in the region.
Global Hot Melt Adhesives is further segmented by region into:
North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America
Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA
Global Hot Melt Adhesives report also contains analysis on:
Hot Melt Adhesives Segments:
By Product Type
Ethylene Vinyl Acetate
Styrenic Block Copolymer
Polyurethane
Polyamide
Amorphous Polyalphaolefins
Metallocene Polyolefins
Polyester
By Application
Packaging
Disposables
Pressure-sensitive products
Bookbinding
Furniture
Footwear
Automobile
Textile
Electronics
Others
Hot Melt Adhesives Dynamics
Hot Melt Adhesives Size
Supply & Demand
Current Trends/Issues/Challenges
Competition & Companies Involved in the Market
Value Chain of the Market
Market Drivers and Restraints
Contents
1. Executive Summary
2. Global Hot Melt Adhesives Market
2.1. Product Overview
2.2. Market Definition
2.3. Segmentation
2.4. Assumptions and Acronyms
3. Research Methodology
3.1. Research Objectives
3.2. Primary Research
3.3. Secondary Research
3.4. Forecast Model
3.5. Market Size Estimation
4. Average Pricing Analysis
5. Macro-Economic Indicators
6. Market Dynamics
6.1. Growth Drivers
6.2. Restraints
6.3. Opportunity
6.4. Trends
7. Correlation & Regression Analysis
7.1. Correlation Matrix
7.2. Regression Matrix
8. Recent Development, Policies & Regulatory Landscape
9. Risk Analysis
9.1. Demand Risk Analysis
9.2. Supply Risk Analysis
10. Global Hot Melt Adhesives Market Analysis
10.1. Porters Five Forces
10.1.1. Threat of New Entrants
10.1.2. Bargaining Power of Suppliers
10.1.3. Threat of Substitutes
10.1.4. Rivalry
10.2. PEST Analysis
10.2.1. Political
10.2.2. Economic
10.2.3. Social
10.2.4. Technological
11. Global Hot Melt Adhesives Market
11.1. Market Size & forecast, 2020A-2030F
11.1.1. By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
11.1.2. By Volume (Billion Units) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12. Global Hot Melt Adhesives Market: Market Segmentation
12.1. By Regions
12.1.1. North America:(U.S. and Canada), By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.1.2. Latin America: (Brazil, Mexico, Argentina, Rest of Latin America), By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.1.3. Europe: (Germany, UK, France, Italy, Spain, BENELUX, NORDIC, Hungary, Poland, Turkey, Russia, Rest of Europe), By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.1.4. Asia-Pacific: (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia Pacific), By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.1.5. Middle East and Africa: (Israel, GCC, North Africa, South Africa, Rest of Middle East and Africa), By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.2. By Type: Market Share (2020-2030F)
12.2.1. Ethylene Vinyl Acetate, By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.2.2. Styrenic Block Copolymer, By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.2.3. Polyurethane, By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.2.4. Polyamide, By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.2.5. Amorphous Polyalphaolefins, By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.2.6. Metallocene Polyolefins, By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.2.7. Polyester, By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.3. By Application: Market Share (2020-2030F)
12.3.1. Packaging, By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.3.2. Disposables, By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.3.3. Pressure sensitive products, By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.3.4. Book binding, By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.3.5. Furniture, By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.3.6. Footwear, By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.3.7. Automobile, By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.3.8. Textile, By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.3.9. Electronics, By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.3.10. others, By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
13 Company Profile
13.1. Dow Inc.
13.1.1. Company Overview
13.1.2. Company Total Revenue (Financials)
13.1.3. Market Potential
13.1.4. Global Presence
13.1.5. Key Performance Indicators
13.1.6. SWOT Analysis
13.1.7. Product Launch
13.2. 3M Co.
13.3. Adtek Consolidated Sdn. Bhd.
13.4. Arkema Group
13.5. Beardow Adams
13.6. Bond Tech Industries
13.7. Bühnen GmbH & Co. KG
13.8. Cherng Tay Technology Co., Ltd.
13.9. Costchem S.r.l.
13.10. Daubert Chemical Co.
13.11. Other Prominent Players
14 Consultant Recommendation
**The above given segmentations and companies could be subjected to further modification based on in-depth feasibility studies conducted for the final deliverable.
Methodology/Research Approach
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.Research Programs/Design
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Market Size Estimation
Top-down and bottom-up approaches are used to validate the global Voluntary Carbon Offset market size market and estimate the market size for Company, regions segments, product segments and Application (end users).
The market estimations in this report are based on the marketed sale price of Voluntary Carbon Offset (excluding any discounts provided by the player, distributor, wholesaler or traders). The percentage splits, market share, and breakdowns of the product segments are derived on the basis of weights assigned to each of the segments on the basis of their utilization rate and average sale price. The regional splits of the overall Voluntary Carbon Offset market and its sub-segments are based on the percentage adoption or utilization of the given product in the respective region or country.
Major Company in the market is identified through secondary research and their market revenues determined through primary and secondary research. Secondary research included the research of the annual and financial reports of the top Company; whereas, primary research included extensive interviews of key opinion leaders and industry experts such as experienced front-line staff, directors, CEOs and marketing executives. The percentage splits, market share, Growth Rate and breakdowns of the product markets are determined through using secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or other factors are not accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Market Intellix and presented in this report
The following figure shows an illustrative representation of the overall market size estimation process used for this study.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation, extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report. Extensive qualitative and further quantitative analysis is also done from all the numbers arrived at in the complete market engineering process to list key information throughout the report.
Data Source
Secondary Sources
Secondary sources include such as press releases, annual reports, non-profit organizations, industry associations, governmental agencies and customs data, etc. This research study involves the usage of widespread secondary sources, directories, databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), and TRADING ECONOMICS, and News Network, statista, Federal Reserve Economic Data, annual reports, BIS Statistics, ICIS; company house documents; CAS(American Chemical Society); investor presentations; and SEC filings of companies. Secondary research was used to identify and collect information useful for the extensive, technical, market-oriented, and Hospitals study of the Voluntary Carbon Offset market. It was also used to obtain important information about the top companies, market classification and segmentation according to industry trends to the bottom-most level, and key developments related to market and technology perspectives.
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Primary Sources
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product Company (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end use (product buyers), and related key executives from various key companies and organizations operating in the global market.
Primary research was conducted to identify segmentation Type, product price range, product Application, key Company, raw materials supply and the downstream demand, industry status and outlook, and key market dynamics such as risks, influence factors, opportunities, market barriers, industry trends, and key player strategies.
Key Executives Interviewed
Key Data Information from Primary Sources
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