PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1509569
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1509569
The hot-melt adhesives market size is projected to reach USD 10.9 billion by 2029 at a CAGR of 2.8% from USD 9.5 billion in 2024. Ethylene Vinyl Acetate (EVA), by resin type segment is estimated to account for the largest share of the hot-melt adhesives market in 2023.
Scope of the Report | |
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Years Considered for the Study | 2019-2029 |
Base Year | 2023 |
Forecast Period | 2024-2029 |
Units Considered | Value (USD), Volume (Kiloton) |
Segments | By Resin Type, By Application, By Region |
Regions covered | Asia Pacific, Europe, North America, South America, Middle East & Africa |
Ethylene Vinyl Acetate (EVA) is likely to account for the largest share of hot-melt adhesives market.
During the forecast period, EVA stands out as the largest resin type segment in the hot-melt adhesives market, both in terms of value and volume. This is largely due to its widespread application in manufacturing hot-melt adhesives for products such as baby diapers and feminine sanitary items. EVA's cost-effectiveness compared to other resins also boosts its demand. Conversely, PU is experiencing the fastest growth, primarily due to its increasing usage in nonwoven hygiene products, especially in emerging markets.
Packaging Solutions, by application accounted for the largest segment of hot-melt adhesives market.
Packaging solutions represented the largest application segment in the hot-melt adhesives market. This dominance is due to the growing use of hot-melt adhesives in diverse packaging applications, including bulk, industrial, commercial, and specialty packaging.
The packaging applications of hot-melt adhesives encompass carton boxes, envelopes, carton closures, cups, flexible packaging, specialty packaging, bags, and processed food products. Cases and cartons, made from paperboard, are utilized for packaging goods. They serve various purposes, including the transportation and storage of agricultural and poultry products, biscuits, chocolates, pharmaceutical products, and industrial items.
Asia Pacific, by region is forecasted to be the fastest segment of hot-melt adhesives market during the forecast period.
The Asia Pacific region is the fastest-growing market for hot-melt adhesives because industries such as packaging, automobiles, electronics, and construction are growing rapidly and calling for the best solutions to merge different things seamlessly. The increasing middle class population base coupled with higher per-capita income has led to increase packaged consumption and consumer durable goods envisaging a better demand for adhesive. This makes them versatile and effective depending on the formulation and technological improvements that would still accommodate most addressing industry demand. Also, friendly government policies and capital expenditure in infrastructural projects, which are adopted by the hot-melt adhesives' key consumers such as the construction & automotive industries, improve market growth. The growth of new market places and platforms for shopping also contributes to the ever rising need for packaging materials in the region thus improving the overall growth of the market.
The key companies profiled in this report are Henkel AG & CO. KGaA (Germany), H.B. Fuller Company (US), Jowat SE (Germany), 3M (US), Arkema (France).
The hot-melt adhesives market has been segmented based on Resin Type (Ethylene Vinyl Acetate (EVA), Styrenic Block Copolymer (SBC), Metallocene Polyolefin (MPO), Amorphous Polyalphaolefin (APAO), Polyolefins, and Other Resin Types), Application (Packaging Solutions, Nonwoven Hygiene Products, Furniture & Woodwork, Bookbinding, Other Applications), and by Region (Asia Pacific, Europe, North America, South America, and Middle East & Africa).
Reasons to Buy the Report
From an insight perspective, this research report focuses on various levels of analyses - industry analysis (industry trends), market ranking analysis of top players, and company profiles, which together comprise and discuss the basic views on the competitive landscape; emerging and high-growth segments of the market; high growth regions; and market drivers, restraints, opportunities, and challenges.