Hot Melt Adhesives Market is Projected To Accelerate At A CAGR Of 4.33% To Reach USD 12.79 Billion By 2030
Research Reports
Aug 03, 2023
Future market research insights:
According to MRFR analysis, the Hot Melt Adhesives Market is expected to register a CAGR of ~ 4.33% from 2031 to 2030 and hold a value of over ~USD 12.79 billion by 2030.
Hot melt adhesives or hot glue is classically a form of thermoplastic adhesive which are commercially accessible as cylindrical sticks of a vivid variety of diameters fitting hot adhesive gun. In the industrial sector hot melt adhesives are generally used to eliminate volatile organic compounds and more. Hot melt adhesives find several applications across end-use markets including packaging, automotive, construction, healthcare, and more worldwide. The COVID-19 pandemic had a confident impact on the hot melt adhesives industry landscape. Stringent lockdown restrictions imposed across nations worldwide led to an increase in e-commerce sales and the demand for packaging solutions. Healthy demand for medical and pharmaceutical products during the eruption accelerated the demand for hot melt adhesives for manufacturing medical packaging answers. With the lifting of lockdown measures and stimulation of manufacturing activities, hot melt adhesives are projected to witness lucrative demand in the automobile and electronics sectors in the imminent years.
Get The Sample Report: https://www.marketresearchfuture.com/sample_request/4640
Regional Analysis:
The regional overview of the hot melt adhesives market includes regions such as North America, the Middle East, Europe, Asia Pacific, Latin America and Africa. Throughout the forecast period, the Asia Pacific regional market has been grown at the uppermost CAGR during the forecast period due to increasing use in end-use industries such as woodworking, universal consumer packaging, and electronics. The advancements in the hot melt adhesives market have pushed investors and builders to shift their focus from water-based to hot melt adhesives due to their dependable and versatile kind. The renowned players in this region are the U.K., Germany, and France due to growing usage in heavy end industries such as automobile, buildings & construction, and defense. In North American countries such as the U.S.A., Canada and Mexico, the hot melt adhesives market has witnessed enormous growth due to rising need in the packaging segment. The countries such as Uruguay, Brazil, and Argentina in the Latin American region are projected to observe rapid growth in the hot melt adhesives market due to the rapid manufacture of polyurethane units in heavy end industries.
Market Segmentation:
The global hot melt adhesives market has been segmented based on type and application. By type, the global hot melt adhesives market has been into ethylene vinyl acetate and polyolefin hot melts. The ethylene vinyl acetate segment is dominating the market due to their extensive application in food packaging, electronics, and construction industry. Ethylene vinyl acetate segment is expected to showcase the maximum growth over the forecast period on account of high demand from end-user industries. Hot melt adhesives are highly preferred over water-based adhesives due to their high mechanical strength and excellent paraffin solubility. Polyolefin hot melts are a combination of tackifiers and base resins which make them moisture and water resistant as well as resistant to polar solvents and solutions.
By application, the global hot melt adhesives market has been segmented into food packaging, buildings & construction, wood working, carton- sealing and others. The packaging segment accounts for the largest share of the global market and is expected to continue its dominance over the forecast period.
Key Players:
Some of the key market players are Dow Corning Corporation (U.S.A.), B. Fuller Company (U.S.A), Sika AG (Switzerland) Henkel AG & Co. KGaA (Germany), and Huntsman International LLC. (U.S.A.), The 3M Company (U.S.A), RPM International Inc. (U.S.A.), and The Dow Chemical Company (U.S.A.)
Buy Now: https://www.marketresearchfuture.com/checkout?currency=one_user-USD&report_id=4640
About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis about diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
Related Reports:
Dimethylformamide Market
Polylactic Acid Market
Hot Melt Adhesives Market
Fluoropolymer Coating Market
Surface Treatment Chemicals Market
Contact Information:
Contact: Market Research Future (Part of Wantstats Research and Media Private Limited) 99 Hudson Street, 5Th Floor New York, NY 10013 United States of America +1 628 258 0071 (US) +44 2035 002 764 (UK) Email: sales@marketresearchfuture.com
Tags:
Wire, Research Newswire, English