PUBLISHER: The Business Research Company | PRODUCT CODE: 1605600
PUBLISHER: The Business Research Company | PRODUCT CODE: 1605600
Functional polyolefin hot melt adhesives are thermoplastic adhesives primarily composed of polyolefin resins, applied in a molten state to bond various substrates. These adhesives are recognized for their strong bonding capabilities, versatility, and performance under diverse conditions.
The main types of functional polyolefin hot melt adhesives include granular hot melt adhesives (HMA), powder hot melt adhesives (HMA), and film hot melt adhesives (HMA). Granular hot melt adhesives are specifically designed for applications that require precise and controlled adhesive application. The different types of polyolefins used include polyethylene (PE) and polypropylene (PP) hot melt adhesives. These adhesives find use in a wide range of applications such as paper packaging, bookbinding, labeling and taping, hygiene products, construction, automotive and transportation, woodworking, and textiles and footwear. They are utilized by various end-users, including those in goods, appliances, electronics, woodworking, and furniture industries.
The functional polyolefin hot melt adhesives market research report is one of a series of new reports from The Business Research Company that provides functional polyolefin hot melt adhesives market statistics, including functional polyolefin hot melt adhesives industry global market size, regional shares, competitors with a functional polyolefin hot melt adhesives market share, detailed functional polyolefin hot melt adhesives market segments, market trends and opportunities, and any further data you may need to thrive in the functional polyolefin hot melt adhesives industry. This functional polyolefin hot melt adhesives market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The functional polyolefin hot melt adhesives market size has grown rapidly in recent years. It will grow from $2.70 billion in 2023 to $2.98 billion in 2024 at a compound annual growth rate (CAGR) of 10.5%. The growth during the historic period can be attributed to the expansion of construction and building materials, increasing adoption in automotive manufacturing, the rising need in vehicle assembly, growth in the healthcare sector, and a heightened demand for eco-friendly packaging.
The functional polyolefin hot melt adhesives market size is expected to see rapid growth in the next few years. It will grow to $4.49 billion in 2028 at a compound annual growth rate (CAGR) of 10.8%. The projected growth during the forecast period can be attributed to the expansion of e-commerce, increasing environmental regulations, rising demand from the packaging industry, a surge in disposable hygiene products, and the need for flexible bonding solutions. Key trends anticipated during this period include advancements in adhesive technology, innovations in metallocene catalyst technology, enhancements for improved temperature resistance and adhesion properties, the development of cost-effective hot melt adhesives, and the creation of eco-friendly adhesives.
The growth of e-commerce is anticipated to drive the expansion of the functional polyolefin hot melt adhesives market in the future. E-commerce encompasses the buying and selling of goods and services online, covering a wide range of activities such as retail, wholesale, and various electronic financial transactions. The surge in e-commerce popularity can be attributed to several factors, including advancements in technology, integration with social media, and competitive pricing strategies. Functional polyolefin hot melt adhesives play a crucial role in enhancing the efficiency and reliability of e-commerce by providing secure and durable packaging solutions. Their strong bonding capabilities and versatility not only protect products during shipping but also contribute to a streamlined and cost-effective supply chain, thereby supporting the demand for seamless e-commerce experiences. For instance, in August 2024, the Census Bureau, a U.S. government agency, reported that retail e-commerce sales for the second quarter of 2024, adjusted for seasonal variations but not for price changes, reached $291.6 billion, reflecting a 1.3% (+-0.7) increase from the first quarter of 2024. Furthermore, the second quarter of 2024 saw a 6.6% (+-1.2) rise compared to the same period in 2023. As a result, the growing e-commerce sector is propelling the functional polyolefin hot melt adhesives market.
Key players in the functional polyolefin hot melt adhesives market are concentrating on creating innovative products, such as unfilled polyolefin (PO) hot melt adhesive formulations, to enhance adhesive performance, lower costs, and improve sustainability. An unfilled PO hot melt adhesive consists of polyolefin polymers without the inclusion of fillers such as calcium carbonate or other additives. For example, in July 2022, Jowat, a Germany-based manufacturer of industrial adhesives, introduced a new unfilled PO hot melt adhesive. This product delivers high bonding strength, features thin and nearly invisible bondlines, and demonstrates excellent resistance to heat and moisture. Its unfilled formulation ensures clean processing, minimizes adhesive consumption, and provides a superior finish, making it particularly suitable for furniture manufacturing and woodworking applications.
In June 2022, APPLIED Adhesives, a U.S.-based company specializing in adhesive products and solutions, acquired Axco Adhesive Systems for an undisclosed amount. This acquisition aims to bolster APPLIED Adhesives' presence in the adhesive industry by broadening its product range and enhancing its ability to deliver innovative adhesive solutions. Axco Adhesive Systems is an Australia-based manufacturer of functional polyolefin hot melt adhesives.
Major companies operating in the functional polyolefin hot melt adhesives market are 3M Company, Henkel AG And Co. KGaA, DuPont de Nemours Inc., Sika AG, Avery Dennison Corporation, Eastman Chemical Company, Avery Dennison Corporation, H.B. Fuller Company, Arkema S.A., Nan Pao Resins Chemical Co. Ltd, Huntsman Corporation, Exxon Mobil Corporation, Kleiberit, Jowat SE, Buhnen GmBH Co KG, Palmetto Adhesives Company Inc., Guangzhou Lushan New Materials, Master Bond Inc., Intercol Adhesives, Wenzhou Huate Hot Melt Adhesive Co. Ltd.
Europe was the largest region in the functional polyolefin hot melt adhesives market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the functional polyolefin hot melt adhesives marker report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the functional polyolefin hot melt adhesives marker report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The functional polyolefin hot melt adhesives market consists of sales of reactive polyolefin adhesives, and ethylene-butylene (EB) based adhesives. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values and are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Functional Polyolefin Hot Melt Adhesives Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on functional polyolefin hot melt adhesives market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for functional polyolefin hot melt adhesives ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The functional polyolefin hot melt adhesives market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.