The global hot melt adhesive market reached a value of US$ 6.75 Billion in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of 4.5% during 2021-2026.
According to IMARC Group’s latest report, titled “Hot Melt Adhesive Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the global hot melt adhesive market reached a value of US$ 6.75 Billion in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of 4.5% during 2021-2026.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Hot melt adhesives refer to solid formulations that are based on thermoplastic polymers. They remain solids under normal temperature but turn into liquids when they are heated above their softening point. Upon solidification, they return to a physical state with structural integrity and can act as an adhesive. Hot melt adhesives are manufactured by mixing thermoplastics with waxes, plasticizers, resins, fillers, and antioxidants. Compared to other adhesives, these adhesives bond instantly with plastics, ceramics, glass, paper, wood, rubbers, metal, etc. As a result, hot melt adhesives find extensive applications across the packaging, construction, food and beverage, textiles, and automotive industries.
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The expanding packaging sector is primarily catalyzing the demand for hot melt adhesives for sealing, assembling, and labeling corrugated boxes, paperboard, and other packaging products. Furthermore, rising infrastructural development is also augmenting the use of hot melt adhesives for binding ceramics, wood panels, flooring materials, and reengineered plastics. Additionally, hot adhesives are increasingly being used in the food and beverages sector for the packaging processed food and drinks as they are free from volatile organic compounds (VOCs) that cause foul odor and can deteriorate the food quality. Besides this, the advent of the PUR technology has led to the introduction of advanced product variants providing high heat resistance, UV protection, and superior binding strength, thereby further driving the global market for hot melt adhesives.
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List of Key Companies Covered in this Market Report:
The report has segmented the market on the basis of resin type, application, product form and geography.
Breakup by Resin Type:
Breakup by Application:
Breakup by Product Form:
Breakup by Geography:
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