Hot Melt Adhesives Market Size To Reach USD 13.75 BN In 2030 | Increasing Demand For Hot Melt Adhesives For Manufacturing Carton Boxes And Corrugated Boards, And Rising Usage For Boat And Automotive Assembly Are Key Driving Factors, Reports and Data

NEW YORK, Feb. 21, 2022 /PRNewswire/ -- The global hot melt adhesives market size is expected to reach USD 13.75 Billion in 2030 and register a revenue CAGR of 6.9% during the forecast period, according to latest report by Reports and Data. Increasing demand for hot melt adhesives for manufacturing carton boxes and corrugated boards, and rising usage of hot melt adhesives for boat and automotive assembly are key factors expected to drive market revenue growth during the forecast period.

Increasing demand for hot melt adhesives in packaging of frozen foods, beverages, and containers is expected to drive the market between 2022 and 2030. The process involved in packaging frozen food and beverages could lead to various changes in the production environment. Hot melt adhesives are required to be manufactured at a low temperature to maintain their properties and provide quality sealing to products. They provide better thermal stability and high bonding of packaging materials, which is increasing their demand in packaging of frozen foods and containers, and thus, boosting revenue growth of the market. Additionally, increasing adoption of hot melt adhesives for quality sealing of carton boxes and corrugated boards to provide better packaging solutions in several industries is expected to support revenue growth of the market.

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However, concerns regarding limited strength and heat resistance of hot melt adhesives, and challenges in using hot melt adhesives for finishing of products are some factors that could hamper revenue growth of the market. Additionally, hot melt adhesives bond faster, which makes it difficult to get the application rightly done at the first use, and this could lead to a shorter apply time for the adhesives. Such issues can restrict adoption of hot melt adhesives in certain applications and thus, hamper revenue growth of the market.

Some Key Highlights in the Report

• Polyolefins segment is expected to register a steady revenue growth rate over the forecast period. Rising usage of polyolefins in packaging solutions, carton assembly, and fixing electronic devices, due to their better chemical resistant properties and high-temperature performance, is expected to boost revenue growth of the segment.
• Bookbinding segment is expected to register a steady revenue growth rate over the forecast period. Bookbinding helps in providing an aesthetic appearance to books, project reports, and notebooks, which is increasing demand for bookbinding. Additionally, increasing adoption of Do It Yourself (DIY) bookbinding among students by using hot melt adhesives is expected to drive growth of the segment in the near future.
• The market in North America is expected to register a steady revenue CAGR over the forecast period. Increasing adoption of bio-based hot melt adhesives due to their sustainability and eco-friendly properties is driving hot melt adhesives market revenue growth in the region. Increasing demand for hot melt adhesives for shoemaking, bookbinding, and product packaging in countries in the region is also expected to boost market revenue growth in North America.

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• In October 2021, Arkema SA announced Polyamide 11 powder production on its Changsu facility in China. Arkema SA's investment will help to meet rising demand for advanced bio-circular materials in Asia-Pacific. Rilsan Polyamide 11 powders are now manufactured in France from renewable castor beans and are utilized in residential appliances, energy-efficient transport, and advanced additive manufacturing (3D printing).
• Companies profiled in the global market report include The 3M Company, Arkema S.A, Dow Silicones Corporation, H.B Fuller Company, Henkel AG & Company KGaA, Jowat SE, Beardow & Adams (Adhesives) Limited, Sika AG, Avery Dennison Corporation, and Ashland Global Specialty Chemicals, Inc.

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For this report, Reports and Data has segmented the global hot melt adhesives market based on resin type, application, and region:

• Resin Type Outlook (Revenue, USD Billion, Volume, Kilo Tons; 2019-2030)
• Styrenic Block Copolymers
• Polyamide
• Polyolefins
• Ethylene-vinyl Acetate (EVA)
• Amorphous Poly-alpha-olefin (APAO)
• Polyurethane (PU)
• Others
• Application Outlook (Revenue, USD Billion, Volume, Kilo Tons; 2019-2030)
• Nonwoven Hygiene
• Furniture & Wooden Work
• Packaging Solutions
• Bookbinding
• Others

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• Regional Outlook (Revenue, USD Billion, Volume, Kilo Tons; 2019-2030)
• North America
• U.S.
• Canada
• Mexico
• Europe
• Germany
• UK
• France
• Italy
• Spain
• Sweden
• BENELUX
• Rest of Europe
• Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of APAC
• Latin America
• Brazil
• Rest of LATAM
• Middle East & Africa
• Saudi Arabia
• UAE
• South Africa
• Israel
• Rest of MEA

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