Rising Demand for Bio-Based Hot Melt Adhesives in the U.S. Due To Their Sustainability to Boost the Hot Melt Adhesives Market Growth

Hot Melt Adhesives Market Report, by Polymer Base (Ethylene-vinyl acetate (EVA), Polyolefin, Polyamide, Styrene Butadiene Block Copolymer (SBC), and Others), by Application (Packaging, Automotive, Construction, Healthcare products, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa), )- Size, Share, Outlook, and Opportunity Analysis, 2023 – 2030

The global Hot Melt Adhesives Market, is estimated to be valued at US$ XX million in XXX and is expected to exhibit a CAGR of XX% over the forecast period, as highlighted in a new report published by Coherent Market Insights.

Hot-melt adhesives are also called as hot glues which are usually 100% formed by solid based on polymers of thermoplastic in which water or solvents are not involved. Hot melts are kept in a solid form at room temperature and are effective when heated beyond their moderating point which is generally between 50 and 160 degrees.

The global Hot Melt Adhesives Market is projected to surpass US$ 9.8 billion by the end of 2027, in terms of revenue, growing at CAGR of 5.2% during the forecast period (2020 to 2027).

Key players involved in the global hot melt adhesives market are The 3M Company, Sipol SpA, Henkel AG & Co. KGaA, Palmetto Adhesives Company, Arkema Group, H B Fuller, Sika AG, Ashland Inc., Jowat AG, and Sealock Ltd. Rising demand for bio-based hot melt adhesives in the U.S. due to their sustainability is expected to augment the growth of the global hot adhesives market. For instance, Jowat, has launched items made from degradable raw materials, which has been authorized by the USDA. The rising acquirement of the product by the key players is anticipated to drive the growth of the global hot adhesives market. For instance, in October 2020, Pidilite Industries Ltd. had acquired Huntsman Advanced Materials Solutions Private Limited (HAMSPL) valued at US$ 257 million with a focus to increase its product contribution for DIY consumer adhesives trade.

Covid-19 Impact Analysis:

The Covid-19 outbreak has positively affected the growth of the global hot adhesives market. The need of the product has drastically increased due to the imposition of lockdown that took place. The shutdown led to the rise of e-commerce product delivery facilities, which propelled the production and usage of hot melt adhesives vastly in the packaging of parcel boxes.

Key Takeaways:

The global high performance fibers market is expected to exhibit a CAGR of XX % during the forecast period due to rising collaborations and partnerships and acquisitions. For instance, in September 2021, Meridian Adhesives Group, and Prime Blend LLC acquired with each other.

Among region North America, Asia Pacific and Europe are anticipated to witness robust growth in the global high performance fibers market due to rising collaborations, partnerships and investments and rising infrastructure activities and rising demand of hot melt adhesives in the manufacturing industry. For instance, China’s manufacturing industry is valued at US$ 597.8 million in 2019.

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