Hot Melt Adhesives Market Forecast, Trends and Growth 2031

Hot Melt Adhesives Market Size and Forecast (2021 - 2031), 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), Application (Packaging, Construction, Automotive, Furniture, Footwear, Electronics, and Others), and Geography

  • Report Code : TIPRE00015496
  • Category : Chemicals and Materials
  • No. of Pages : 150
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Hot Melt Adhesives Market Forecast (2024-2031), Size, Share

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The hot melt adhesives market size is projected to reach US$ 13.31 billion by 2031 from US$ 8.45 billion in 2023. The market is expected to register a CAGR of 5.5% during 2023–2031. The growing demand from the packaging industry is likely to remain a key trend in the hot melt adhesives market.

Hot Melt Adhesives Market Analysis

Automotive manufacturers are demanding innovative, high-quality materials to produce automotive components. Hot melt adhesives are considered one of the most suitable materials for lightweight automobile parts. Carbon fiber-reinforced composites are used as vital materials to substitute the body and other parts in automobiles. In the automobile industry, the use of hot melt adhesives has improved brake, steering, durability, and fuel efficiency, which leads to energy conservation and reduces carbon dioxide emissions. Leading automotive manufacturers are using hot melt adhesives for manufacturing components. For instance, the Airbus A350 is 52% hot melt adhesives-reinforced polymer (CFRP) and the BMW i3 has mostly CFRP chassis. Hot melt adhesives are also used in high-end bike frames, tennis rackets, and surfboards. As hot melt adhesives offer high modulus and specific strength, fatigue strength, stiffness, and pressure-withstanding capacity, as well as lower thermal expansion coefficient, corrosion resistance, and other beneficial properties, these are being widely used in automotive and other industrial applications.     

Hot Melt Adhesives Market Overview

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.

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Hot Melt Adhesives Market: Strategic Insights

Hot Melt Adhesives Market

  • CAGR (2023 - 2031)
    5.5%
  • Market Size 2023
    US$ 8.45 Billion
  • Market Size 2031
    US$ 13.31 Billion

Market Dynamics

GROWTH DRIVERS
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FUTURE TRENDS
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OPPORTUNITIES
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Key Players

  • H.B. Fuller Company
  • Henkel AG & Company KGaA
  • Arkema
  • 3M
  • Sika AG
  • Jowat SE
  • Hexcel Corporation0
  • The Dow Chemical Company
  • Beardow Adams
  • Gorilla Glue Company

Regional Overview

  • North America
  • Europe
  • Asia-Pacific
  • South and Central America
  • Middle East and Africa

Market Segmentation

Product Type
  • Glue Sticks
  • Glue Slugs
  • Others
Type
  • Ethylene Vinyl Acetate
  • Polyolefins
  • Polyamides
  • Polyurethanes
  • Styrene Block Copolymers
  • Others
Application
  • Packaging
  • Construction
  • Automotive
  • Furniture
  • Footwear
  • Electronics
  • Others
  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.

Hot Melt Adhesives Market Drivers and Opportunities

Rising Adoption from Wind Energy Sector Bolsters Hot Melt Adhesives Market Growth

Growing demand to utilize renewable resources has led to a surge in the installation and demand for wind farms, with large tracts of land and coastal areas devoted to the operation of wind turbines. The wind turbine manufacturers strive to produce more efficient and longer blades. Advanced composite materials such as hot melt adhesives are a growing part of the construction of wind turbines, specifically the blades. The companies operating in the market have discovered that the longer the blades are on a turbine, the more energy can be generated. The hot melt adhesives play a very important role in the wind energy industry. Large blades are typically designed by stiffness and deflection rather than taking into consideration the material strength. The high stiffness characteristic of hot melt adhesives reduces blade deflection, allowing a larger tower diameter for a given blade-to-tower clearance. Hot melt adhesives are added to the spar cap, which is the backbone of the blade.

Increasing Usage of Hot Melt Adhesives in the Sporting Goods Industry

The high-strength, modulus, and lightweight characteristics of hot melt adhesives have led to rising demand from the sporting goods manufacturing industry. Sporting goods such as golf shafts, racquets, skis, snowboards, hockey sticks, fishing rods, bats, and bicycles are manufactured using hot melt adhesives. Hot melt adhesives provide design flexibility when designing highly specific applications. The precise shape of equipment, which is critical to its performance, is easily achieved with the use of hot melt adhesive materials. Hot melt adhesives help enhance the performance of bikers and golfers. The most specific use of hot melt adhesives in sporting equipment is seen in the tennis racket. Players can hit faster balls with the lighter racket and control the ball better with a larger area of the racket. These factors are driving the demand for hot melt adhesives in various sporting equipment. The increasing demand for hot melt adhesive-based sporting equipment provides a lucrative market opportunity for key and new market players.

Hot Melt Adhesives Market Report Segmentation Analysis

Key segments that contributed to the derivation of the hot melt adhesives market analysis are product type, type,  and application.

  • Based on product type, the hot melt adhesives market is segmented into glue sticks, glue slugs, and others. The glue sticks segment held the largest market share in 2023.
  • By type, the hot melt adhesives market is categorized into ethylene vinyl acetate, polyolefins, polyamides, polyurethanes, styrene block copolymers, and others. The ethylene vinyl acetate segment held the largest market share in 2023.
  • By application, the market is divided into packaging, construction, automotive, furniture, footwear, electronics, and others. The packaging segment held the largest share of the market in 2023.

Hot Melt Adhesives Market Share Analysis by Geography

The geographic scope of the hot melt adhesives market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.

Asia Pacific has dominated the market. Emerging countries are witnessing an upsurge in industrialization, mainly in the manufacturing, automotive, packaging, and construction sectors, which further offer ample opportunities for the key market players in the hot melt adhesive market. Countries such as Australia, Japan, India, China, South Korea, Singapore, Taiwan, and Indonesia have large manufacturing industries in diverse sectors, including chemicals, textiles, pulp & paper, and electronics. The manufacturing sectors in these countries experienced a huge shift over the years. The Asia Pacific manufacturing sector is highly adopting innovation accelerators that include advanced technologies and processes. Over the past decades, manufacturing companies spending in the region has grown significantly and is further anticipated to grow at the highest estimated growth rate.

Hot Melt Adhesives Market Report Scope

Report Attribute Details
Market size in 2023 US$ 8.45 Billion
Market Size by 2031 US$ 13.31 Billion
Global CAGR (2023 - 2031) 5.5%
Historical Data 2021-2022
Forecast period 2023-2031
Segments Covered By Product Type
  • Glue Sticks
  • Glue Slugs
  • Others
By Type
  • Ethylene Vinyl Acetate
  • Polyolefins
  • Polyamides
  • Polyurethanes
  • Styrene Block Copolymers
  • Others
By Application
  • Packaging
  • Construction
  • Automotive
  • Furniture
  • Footwear
  • Electronics
  • Others
Regions and Countries Covered North America
  • US
  • Canada
  • Mexico
Europe
  • UK
  • Germany
  • France
  • Russia
  • Italy
  • Rest of Europe
Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
South and Central America
  • Brazil
  • Argentina
  • Rest of South and Central America
Middle East and Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East and Africa
Market leaders and key company profiles
  • H.B. Fuller Company
  • Henkel AG & Company KGaA
  • Arkema
  • 3M
  • Sika AG
  • Jowat SE
  • Hexcel Corporation0
  • The Dow Chemical Company
  • Beardow Adams
  • Gorilla Glue Company
    • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.

    Hot Melt Adhesives Market News and Recent Developments

    The hot melt adhesives market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market:

    • LINTEC announced that it has developed a permanent general-purpose hot-melt adhesive and is now using it in a new label stock series named HVT. On February 1, the company will release three new products using this new adhesive: two synthetic paper-based and one water-resistant paper-based livestock product. They are intended to be useful across a wide range of applications, including various kinds of display labels. (Source: LINTEC Corporation, Company Website, 2023)

    Hot Melt Adhesives Market Report Coverage and Deliverables

    The "Hot Melt Adhesives Market Size and Forecast (2021–2031)" report provides a detailed analysis of the market covering below areas:

    • Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
    • Market dynamics such as drivers, restraints, and key opportunities
    • Key future trends
    • Detailed Porter's Five Forces and SWOT analysis
    • Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
    • Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
    • Detailed company profiles
    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.

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