Hot Melt Adhesives Market Share, Size, and Forecast| 2030

Hot Melt Adhesives Market Size and Forecast (2020 - 2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Product Type (Glue Sticks, Glue Slugs, and Others), Type (Ethylene Vinyl Acetate, Polyolefins, Polyamides, Polyurethanes, Styrene Block Copolymers, and Others), and Application (Packaging, Construction, Automotive, Furniture, Footwear, Electronics, and Others)

Publication Month : Jan 2024

  • Report Code : TIPRE00015496
  • Category : Chemicals and Materials
  • Status : Published
  • No. of Pages : 171
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[Research Report] The hot melt adhesives market size is expected to grow from US$ 8.10 billion in 2022 to US$ 12.47 billion by 2030; it is estimated to register a CAGR of 5.5% from 2022 to 2030.

Market Insights and Analyst View:

Hot melt adhesives or hot glue are formulations of thermoplastic adhesives. Hot glue sticks are available with various diameters and designs. The sticks are fitted into the glue gun and heated up to the desired temperature till the glue stick starts melting. The glue pushes out through the heated nozzle on the surface of the application when the user pushes through the gun with the mechanical trigger. Some hot melt stick adhesives have been designed with a longer open time so that they can be sprayed on wider regions for bonding. Based on product type, the market is segmented into glue sticks, glue slugs, and others. In 2022, the glue sticks segment held the largest share of the global hot melt adhesives market

Growth Drivers and Challenges:

The growing applications in several end-use industries drive the global hot melt adhesives market growth. Hot melt adhesives are highly utilized in packaging solutions, nonwoven hygiene products, and consumer goods. The adhesives are suitable in the manufacturing of packaging solution products, particularly food packaging and specialty packaging. Packaging applications of hot melt adhesives further include carton boxes, bags, cups, flexible packaging, envelopes, carton closure, specialty packaging, and processed food products. The proper setting time of this adhesive is important for the successful packaging of any product. Hot melt adhesives are also extensively utilized in products such as baby diapers, tissues, pet and medical pads, and towels and napkins. Moreover, feminine hygiene, toddler training pants, and adult incontinence are among the key markets for hot melt adhesives. The hot melt adhesives market, mainly for nonwoven hygiene products, is well-established in regions such as North America and Europe. Furniture and woodwork applications of hot melt adhesives include roofing, countertop laminations, and wall coverings. Over the last decade, the demand for these adhesives in the furniture sector has been increasing, and Asia Pacific remains the key market in this sector. India and China account for a major share of the market for the woodworking application segment. Hot melt adhesives can also bond to several materials and surfaces, such as ceramic, cardboard, metal, fabric, papers, and plastics, which further makes them a suitable option for DIY applications.

Hot melt adhesive is basically a thermoplastic material, as well as a polymer, which becomes pliable when it comes close to warm temperatures. Temperature changes highly impact the working process of hot melt adhesives and lower their performance. Different types of hot melt adhesives possess different levels of temperature resistance capacity. When the temperature goes up, the ability of a hot melt adhesive to hold two substrates together goes down, and it cannot hold two substrates together firmly. On the flip side, low temperatures do not normally have such a highly adverse effect on the strength of adhesives. They will show some simple stiffness instead of compromising their strength. The tendency for adhesives to break or strain rises as their temperatures increase due to the changes in a chemical reaction; some of the components break down, the adhesive is crystallized, and then becomes unstable. This decreased elasticity of hot melt adhesives may further result in cracking and may cause total shattering of the adhesive, which can obviously render the bond useless. Hot melt adhesives possess a few disadvantages, such as the thermal load of the substrate and loss of strength while exposed to higher temperatures. All these disadvantages of hot melt adhesives restrain the global hot melt adhesives market growth. 

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Hot Melt Adhesives Market: Strategic Insights

hot-melt-adhesives-hma-market
Market Size Value inUS$ 8.10 billion in 2022
Market Size Value byUS$ 12.47 billion by 2030
Growth rateCAGR of 5.5% from 2022 to 2030
Forecast Period2022-2030
Base Year2022
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Report Segmentation and Scope:

The "Global Hot Melt Adhesives Market" is segmented on the basis of product type, type, application, and geography. Based on product type, the market is segmented into glue sticks, glue slugs, and others. By type, the market is segmented into ethylene vinyl acetate, polyolefins, polyamides, polyurethanes, styrene block copolymers, and others. By application, the global hot melt adhesives market is segmented into packaging, construction, automotive, furniture, footwear, electronics, and others. The market, based on geography, is segmented into North America (the US, Canada, and Mexico), Europe (Germany, France, Italy, the UK, Russia, and the Rest of Europe), Asia Pacific (Australia, China, Japan, India, South Korea, and the Rest of Asia Pacific), the Middle East & Africa (South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America).

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Segmental Analysis:

Based on product type, the hot melt adhesives market is segmented into glue sticks, glue slugs, and others. The glue sticks segment held a significant market share in 2022, and the market for the segment is expected to grow significantly from 2022 to 2030. Glue sticks are cylindrical sticks with a wide range of diameters. They are used with a hot glue gun. Hot melt glue stick adhesives generate less amount of waste and have a relatively less environmental impact, which makes them suitable for various applications in food packaging, printing & publishing, carton-sealing, textile manufacturing, woodworking, electronics, and building & construction industries. The glue slugs are also one of the major product types in the market. Hot melt glue slugs are available in varied diameters. They are used in product assembly, manufacturing, woodworking, and packaging applications. The slugs are perfect for bonding many objects such as paper, ceramics, wood, plastic, and metal. Hot melt glue slugs are sprayed using glue guns that have long open times, which allows users to cover a large surface area.

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Regional Analysis:

Based on geography, the hot melt adhesives market is segmented into five key regions—North America, Europe, Asia Pacific, South & Central America, and the Middle East & Africa. Asia Pacific dominated the global market, and the regional market accounted for ~US$ 4 billion in 2022. The countries in the region are witnessing an upsurge in industrialization, mainly in the manufacturing, automotive, packaging, and construction industries, which would offer ample opportunities for the key players in the hot melt adhesive market during the forecast period. Chemicals, textiles, pulp & paper, and electronics are among the prime industries in countries such as Australia, Japan, India, China, South Korea, Singapore, Taiwan, and Indonesia. These industries are highly adopting advanced technologies and processes. According to Bostik India, a key market player, rising adoption of e-commerce and increasing purchasing power of people bolster the hot melt adhesives market growth. North America is another major contributor, holding more than 20% of the global market share. Hot melt adhesives manufacturing companies located in this region are continuously enhancing their overall business processes to cater to the demand of customers in the best possible way. Polyurethanes are highly utilized as one of the hot melt adhesives in this region in applications such as construction, electronics, trailer truck panel bonding, and furniture bonding. 

Industry Developments and Future Opportunities:

Following are among the initiatives taken by the key players operating in the hot melt adhesives market:

  • In December 2019, Arkema announced the acquisition of LIP Bygningsartikler AS (LIP) by Bostik. LIP provides tile adhesives, waterproofing systems, and floor preparation solutions. This acquisition has enabled Bostik to offer an extended range of high-value-added products to its customers while boosting its presence in Nordic countries.
  • In 2021, Sika AG acquired Hamatite, a Japan-based company that provides adhesives and sealants to various industries such as automotive and construction. The company also offers various technologies, such as polyurethanes, hot melts, and modified silicones. This acquisition will help Sika AG to strengthen its position in Japan and increase market access.
  • In 2020, H.B. Fuller Company launched new products—Advantra 9280 EU and Advantra BOLD 9480, readily available adhesive grades with hot melt advanced technology for extreme cold storage of vaccines and medication packaging.
  • In 2021, Henkel AG & Co. KGaA launched the industry’s first bio-based polyurethane reactive (PUR) hot melt adhesive. The product LOCTITE HHD 3544F is designed for consumer electronics assembly.
  • In 2021, Henkel AG & Co. KGaA launched sustainable packaging hot melt adhesives in a partnership with Dow. This new Technomelt Supra ECO range of products has been developed to enable customers to reach their sustainability goals.
  • In 2020, Bostik launched Thermogrip 2356, a new product line for label adhesive, which is specially designed to enhance production line efficiencies and enable sustainable packaging for quick-service restaurant applications. The product is formulated with hot melt pressure-sensitive adhesive technology.

COVID-19 Pandemic Impact:

The COVID-19 pandemic adversely affected almost all industries in various countries. Lockdowns, travel restrictions, and business shutdowns in North America, Europe, Asia Pacific (APAC), South & Central America, and the Middle East & Africa (MEA) hampered the growth of several industries, including chemicals & materials. The shutdown of manufacturing units of companies disturbed global supply chains, manufacturing activities, and delivery schedules. Various companies reported delays in product deliveries and a slump in their product sales in 2020. The negative impact of the pandemic on the growth of industries such as construction, automotive, packaging, furniture, and others reduced the demand for hot melt adhesives.

Various industries are coming on track as supply constraints affecting these industries are resolving gradually. Moreover, the rising demand for hot melt adhesives from various industries such as automotive, packaging, and others substantially promotes the hot melt adhesives market growth.

Competitive Landscape and Key Companies:

H.B. Fuller Company, Henkel AG & Company KGaA, Arkema, 3M, Sika AG, Jowat SE, Hexcel Corporation, The Dow Chemical Company, Beardow Adams,  and Gorilla Glue Company are a few players operating in the global hot melt adhesives market. Global market players focus on providing high-quality products to fulfill customer demand. Also, they focus on adopting various strategies such as new product launches, capacity expansion, partnerships, and collaborations to stay competitive in the market.

Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Product Type, Type, and Application

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

This text is related
to country scope.

Frequently Asked Questions


Based on the type, which segment is leading the global hot melt adhesives market during the forecast period?

The ethylene vinyl acetate segment held the largest share of the global hot melt adhesives market in 2022. Ethylene vinyl acetate (EVA) is utilized in many hot melt adhesives because of its rubber-like flexibility. EVA-based adhesives are flexible enough to withstand cracking, especially when exposed to UV light.

Based on the application, which segment is leading the global hot melt adhesives market during the forecast period?

The packaging segment held the largest share of the global hot melt adhesives market in 2022. The packaging applications of hot melt adhesives mainly include carton or box sealing, bottle labeling, paper bag manufacturing, and bag assembly.

Which region held the largest share of the global hot melt adhesives market?

In 2022, Asia Pacific held the largest share of the global hot melt adhesives market. The countries in the region are witnessing an upsurge in industrialization, mainly in the manufacturing, automotive, packaging, and construction industries, which are driving the demand for hot melt adhesives.

Based on product type, which segment is leading the global hot melt adhesives market during the forecast period?

The glue sticks segment held the largest share in the global hot melt adhesives market in 2022. Hot melt glue stick adhesives generate minimal waste and have a relatively small environmental impact, which makes them suitable for a wide range of applications in food packaging, carton-sealing, printing and publishing, textile manufacturing, electronics, woodworking, and building and construction industries.

Can you list some of the major players operating in the global hot melt adhesives market?

The key players operating in the global hot melt adhesives market include H.B. Fuller Company, Henkel AG & Company KGaA, Arkema, 3M, Sika AG, Jowat SE, Hexcel Corporation, The Dow Chemical Company, Beardow Adams, and Gorilla Glue Company.

What are the key factors influencing market growth?

The projected growth of the market is attributed to the growing applications in several end-use industries and the changing trend from solvent adhesives to hot melt adhesives.

The List of Companies - Hot Melt Adhesives Market

  1. H.B. Fuller Company
  2. Henkel AG & Company KGaA
  3. Arkema
  4. 3M
  5. Sika AG
  6. Jowat SE
  7. Hexcel Corporation
  8. The Dow Chemical Company
  9. Beardow Adams
  10. Gorilla Glue Company

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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