Global Hot Melt Adhesives Market Outlook, Trend and Opportunity Analysis, Competitive Insights, Actionable Segmentation & Forecast 2024

Industry : Chemical and Material Date : December 24th, 2018
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The global hot melt adhesives market was valued at USD 7.1 billion in 2017, and is likely to generate a demand of USD 10.7 billion by 2024, at a CAGR of 5.8% over the next seven years. Rising use of hot melt adhesives as a substitute for traditional solvent-borne adhesives across a wide range of end-use industries is expected to drive the market demand. Moreover, considerable growth in construction activities in developing economies is set to accelerate market demand over the forecast period. The years used for the assessment are as follows;

  • Historical year : 2014, 2015 and 2016
  • Base year  : 2017
  • Forecast period: 2018 – 2024

RESEARCH METHODOLOGY

The research and analysis are based on data and information obtained from various primary and secondary sources. The data obtained is validated by interacting with the companies of the concerned domain. The steps involved in the research methodology are;

  • Obtaining historical data of the market based on news, articles, publications, annual reports, white papers, surveys and other secondary sources
  • Interacting with key opinion leaders of the market and developing data points based on interaction with them
  • Study of past trends in the market and their year on year impact on the market size and share
  • Analyzing the collected data points
  • Bridging the data points to calculate the hot melt adhesives market and its various segments
  • Anticipating potential risks
  • Analyzing market forces such as drivers, restraints, and opportunities to assess new growth areas for the market
  • Finalizing the overall size and share for the global market

OBJECTIVES:

  • To classify global hot melt adhesives market into segments on the basis of type, and end-use to analyze their growth prospects individually
  • To analyze market trends, opportunities, drivers and restraints associated with hot melt adhesives
  • Profiling key companies operating in the global market
  • To study market response with respect to the mergers and acquisitions in the industry

MARKET SCOPE

The research scope for hot melt adhesives market is as follows:

By Type 

  • Polyamide (PA)
  • Ethylene-Vinyl Acetate (EVA)
  • Polyurethane Reactive (PUR)
  • Polyethylene (PE)
  • Polyolefins
  • Amorphous Poly Alpha Olafins (APAO)
  • Styrene Butadiene Styrene (SBS)
  • Others

By End-Use

  • Packaging
  • Building & construction
  • Transportation
  • Automotive
  • Electronics
  • Textile
  • Furniture
  • Hygiene
  • Others

By Region

  • North America
  • Europe
  • Asia-Pacific
  • Central & South America (CSA)
  • Middle East & Africa (MEA)

The market for hot melt adhesives is projected to augment owing to its growing use in end-use industries such as packaging, construction, electronics, automotive, textile and hygiene, among others. As hot melt adhesives are environment friendly, they are increasingly being used as a replacement for solvent-borne adhesives. Also, growing popularity of thermoplastic polyurethane hot melts owing to their high resistance, strength and superior flexibility, is expected to further propel the market demand.

Hot melts are an adhesive system, which is thermally melted and develops cohesion (internal strength) on cooling. Hot melt adhesives are generally manufactured in the form of solid cylindrical sticks with varying dimensions. They are designed to melt in an electric hot glue gun, which uses a continuous-duty heating elements to melt the glue, triggered by mechanical mechanism. The hot glue gun has a loading chamber, where the hot melt adhesive sticks are loaded and heated up to its melting point i.e. 120-180 degree Celsius.

After heating, the molten hot melt adhesives are then dispensed through a nozzle of the hot glue guns. The molten adhesive solidifies within seconds depending up on the composition of hot melt adhesive and it doesn’t require curing process for solidifying. Hot melt adhesives, like all other adhesives, generally consists of one or more polymer plus additives, such as stabilizers, pigments, etc.

Additionally, hot melt adhesives are easy to clean with minimum toxicity. Also, they have superior gap filling capabilities, and bond a vast variety of porous as well as non-porous substrates. These adhesives may be applied by rolling, extruding, or spraying, and manual application is generally done with hand held electric hot glue guns. Hot melt adhesives tend to have a long shelf life and can easily be disposed without special precautions.

New structural hot melts have been developed over the years that are capable of reducing the manufacturing costs and improving efficiency. Such new categories of hot melts are reactive urethanes and silicones that combine the advantages of traditional hot melts with those of reactive structural adhesives. These hot melts are cured by ultraviolet radiation that results in the adhesive to crosslink, providing higher flexibility, strength and more durable bonds.

Moreover, hot melt adhesives find their use across a wide range of applications. They are capable of bonding various substrates such as plastics, metals, rubbers, glass, wood and ceramics. As a result, a significant rise in their demand has been witnessed for DIY applications. While DIY is quite common in the developed economies of North America and Europe, it is a relatively new concept in the emerging nations. Ease of use and availability of hot melt adhesive guns have surged their use for various DIY applications. However, volatility in the raw material prices may hinder the market growth over the next seven years.

Some of the key companies operating in the industry include DowDuPont; Avery Dennison Corporation; The 3M Company; Ashland Inc.; H.B. Fuller; Henkel AG & Co. KGgA; Jowat SE; Bostik Inc.; Sika AG; Arkema Group; Huntsman International LLC; Westlake Chemical Corporation; Toyobo Co. Limited; Pidilite Industries Limited; Evonik Industries AG; and American Chemical Inc.; among others.

Global Hot Melt Adhesives Market

TABLE OF CONTENTS

CHAPTER 1. Market Scope and Methodology

1.1. Research methodology

1.2. Research scope & assumptions

1.3. List of data sources

CHAPTER 2. Executive Summary

2.1. Hot melt adhesives market – Market snapshot

CHAPTER 3. Industry Analysis

3.1. Market definition

3.2. Market segmentation

3.3. Key findings of the global hot melt adhesives market

3.4. Value chain analysis

3.5. Market opportunities & trends

3.5.1. Rising adoption of bio-based hot melt adhesives

3.5.2. Significant growth in construction activities in developing economies

3.6. Market dynamics

3.6.1. Market driver analysis

   3.6.1.1. Growing demand across various end-use industries

   3.6.1.2. Rising use as a substitute for solvent-borne adhesives

   3.6.1.3. Increasing demand in various DIY applications

3.6.2. Market restraint analysis

   3.6.2.1. Raw material price volatility

CHAPTER 4. Competitive Outlook

4.1. Competitive Analysis

4.2. PESTLE Analysis

4.3. Porter’s Five Forces Analysis

4.4. Company Market Share Analysis

4.4.1. Competitive Factors

CHAPTER 5. Global Hot Melt Adhesives Market Size and Forecast (2014 – 2024)

5.1. Global Hot Melt Adhesives Market, By Type (Kilo Tons) (USD Billion)

5.1.1. Polyamide (PA)

5.1.2. Ethylene-Vinyl Acetate (EVA)

5.1.3. Polyurethane Reactive (PUR)

5.1.4. Polyethylene (PE)

5.1.5. Polyolefins

5.1.6. Amorphous Poly Alpha Olafins (APAO)

5.1.7. Styrene Butadiene Styrene (SBS)

5.1.8. Others

5.2. Global Hot Melt Adhesives Market, By End-Use (Kilo Tons) (USD Billion)

5.2.1. Packaging

5.2.2. Building & construction

5.2.3. Transportation

5.2.4. Automotive

5.2.5. Electronics

5.2.6. Textile

5.2.7. Furniture

5.2.8. Hygiene

5.2.9. Others

CHAPTER 6. Global Hot Melt Adhesives Market Size and Forecast, By Region (2014 – 2024)

6.1. North America Hot Melt Adhesives Market (Kilo Tons) (USD Billion)

6.1.1. North America Hot Melt Adhesives Market, By Type (Kilo Tons) (USD Billion)

6.1.2. North America Hot Melt Adhesives Market, By End-Use (Kilo Tons) (USD Billion)

6.1.3. North America Hot Melt Adhesives Market, By Country (Kilo Tons) (USD Billion)

   6.1.3.1. The U.S.

   6.1.3.2. Canada

   6.1.3.3. Mexico

6.2. Europe Hot Melt Adhesives Market (Kilo Tons) (USD Billion)

6.2.1. Europe Hot Melt Adhesives Market, By Type (Kilo Tons) (USD Billion)

6.2.2. Europe Hot Melt Adhesives Market, By End-Use (Kilo Tons) (USD Billion)

6.2.3. Europe Hot Melt Adhesives Market, By Country (Kilo Tons) (USD Billion)

   6.2.3.1. Germany

   6.2.3.2. U.K

   6.2.3.3. France

   6.2.3.4. Spain

   6.2.3.5. Russia

   6.2.3.6. Italy

   6.2.3.7. Rest of Europe

6.3. Asia-Pacific Hot Melt Adhesives Market (Kilo Tons) (USD Billion)

6.3.1. Asia-Pacific Hot Melt Adhesives Market, By Type (Kilo Tons) (USD Billion)

6.3.2. Asia-Pacific Hot Melt Adhesives Market, By End-Use (Kilo Tons) (USD Billion)

6.3.3. Asia-Pacific Hot Melt Adhesives Market, By Country (Kilo Tons) (USD Billion)

   6.3.3.1. China

   6.3.3.2. Japan

   6.3.3.3. India

   6.3.3.4. South Korea

   6.3.3.5. Rest of Asia-Pacific

6.4. Central & South America (CSA) Hot Melt Adhesives Market (Kilo Tons) (USD Billion)

6.4.1. Central & South America (CSA) Hot Melt Adhesives Market, By Type (Kilo Tons) (USD Billion)

6.4.2. Central & South America (CSA) Hot Melt Adhesives Market, By End-Use (Kilo Tons) (USD Billion)

6.4.3. Central & South America (CSA) Hot Melt Adhesives Market, By Country (Kilo Tons) (USD Billion)

   6.4.3.1. Brazil

   6.4.3.2. Rest of Central & South America (CSA)

6.5. Middle East & Africa (MEA) Hot Melt Adhesives Market (Kilo Tons) (USD Billion)

6.5.1. Middle East & Africa (MEA) Hot Melt Adhesives Market, By Type (Kilo Tons) (USD Billion)

6.5.2. Middle East & Africa (MEA) Hot Melt Adhesives Market, By End-Use (Kilo Tons) (USD Billion)

6.5.3. Middle East & Africa (MEA) Hot Melt Adhesives Market, By Country (Kilo Tons) (USD Billion)

   6.5.3.1. Saudi Arabia

   6.5.3.2. South Africa

   6.5.3.3. Rest of Middle East & Africa (MEA)

CHAPTER 7. Key Players and Strategic Developments

7.1. DowDuPont

7.1.1. Business Overview

7.1.2. Product and Service Offering

7.1.3. Financial Overview

7.1.4. Strategic Developments

7.2. Avery Dennison Corporation

7.2.1. Business Overview

7.2.2. Product and Service Offering

7.2.3. Financial Overview

7.2.4. Strategic Developments

7.3. The 3M Company

7.3.1. Business Overview

7.3.2. Product and Service Offering

7.3.3. Financial Overview

7.3.4. Strategic Developments

7.4. Ashland Inc.

7.4.1. Business Overview

7.4.2. Product and Service Offering

7.4.3. Financial Overview

7.4.4. Strategic Developments

7.5. H.B. Fuller

7.5.1. Business Overview

7.5.2. Product and Service Offering

7.5.3. Financial Overview

7.5.4. Strategic Developments

7.6. Henkel AG & Co. KGaA

7.6.1. Business Overview

7.6.2. Product and Service Offering

7.6.3. Financial Overview

7.6.4. Strategic Developments

7.7. Jowat SE

7.7.1. Business Overview

7.7.2. Product and Service Offering

7.7.3. Financial Overview

7.7.4. Strategic Developments

7.8. Bostik Inc.

7.8.1. Business Overview

7.8.2. Product and Service Offering

7.8.3. Financial Overview

7.8.4. Strategic Developments

7.9. Sika AG

7.9.1. Business Overview

7.9.2. Product and Service Offering

7.9.3. Financial Overview

7.9.4. Strategic Developments

7.10. Arkema Group

7.10.1. Business Overview

7.10.2. Product and Service Offering

7.10.3. Financial Overview

7.10.4. Strategic Developments

7.11. Huntsman International LLC

7.11.1. Business Overview

7.11.2. Product and Service Offering

7.11.3. Financial Overview

7.11.4. Strategic Developments

7.12. Westlake Chemical Corporation

7.12.1. Business Overview

7.12.2. Product and Service Offering

7.12.3. Financial Overview

7.12.4. Strategic Developments

7.13. Toyobo Co. Limited

7.13.1. Business Overview

7.13.2. Product and Service Offering

7.13.3. Financial Overview

7.13.4. Strategic Developments

7.14. Pidilite Industries Limited

7.14.1. Business Overview

7.14.2. Product and Service Offering

7.14.3. Financial Overview

7.14.4. Strategic Developments

7.15. Evonik Industries AG

7.15.1. Business Overview

7.15.2. Product and Service Offering

7.15.3. Financial Overview

7.15.4. Strategic Developments

7.16. American Chemical Inc.

7.16.1. Business Overview

7.16.2. Product and Service Offering

7.16.3. Financial Overview

7.16.4. Strategic Developments

Global Hot Melt Adhesives Market Outlook, Trend and Opportunity Analysis, Competitive Insights, Actionable Segmentation and Forecast 2024