According to our latest market study, titled “Hot Melt Adhesives Market Forecast to 2028 – COVID-19 Impact and Global Analysis By Type (Ethylene Vinyl Acetate, Polyolefins, Polyamides, Polyurethanes, Styrene Block Copolymers, and Others), Product Type (Glue Sticks, Glue Slugs, and Others), Application (Packaging, Construction, Automotive, Furniture, Footwear, Electronics, and Others)” consists of the factors fueling market growth, revenue estimation, and market share analysis. It also includes the identification of significant market players and their key developments.
The report has been curated after observing and studying various factors that determine regional growth such as economic, environmental, social, technological, and political status of the particular region. Analysts have studied the data of revenue, production, and manufacturers of each region. This section analyses region-wise revenue and volume for the forecast period of 2022 to 2028. These analyses will help the reader to understand the potential worth of investment in a particular region. The report offers in-depth assessment of the growth and other aspects of the Hot Melt Adhesives Market in important regions. Key regions covered in the report are North America, Europe, Asia-Pacific and Latin America.
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Report Coverage Details
Market Size Value in US$ 7,473.37 Million in 2020
Market Size Value by US$ 10,982.38 Million by 2028
Growth rate CAGR of 5.1% from 2020-2028
Forecast Period 2020-2028
Base Year 2020
No. of Pages 179
No. of Tables 83
No. of Charts & Figures 85
Historical data available Yes
Segments covered Type , Product Type , Application
Regional scope North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country scope US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
Report coverage Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Hot melt adhesives are also known as hot glue, and these are 100% formulation of thermoplastic adhesives. Hot glue sticks are available with different diameters and design. The growing application from several end use industries is the major driver for the growth of hot melt adhesives market. Hot melt adhesives offer superior properties such as versatility, resistance to water & moisture, and low cost make these adhesives an ideal choice for many applications. Many industries are adopting the hot melt adhesives over solvent-based adhesives.
Hot Melt Adhesives Market: Competitive Landscape and Key Developments
The key players providing hot melt adhesives are H.B. Fuller Company; Henkel AG & Company, KGaA; Arkema; 3M; Sika AG; Jowat SE; Hexcel Corporation; The Dow Chemical Company; Beardow Adams; Adtech; and Gorilla Glue Company, among others.
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Effect of COVID-19 upon Hot Melt Adhesives market:
The COVID-19 outbreak has adversely affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The chemical & materials industry is one of the significant industries suffering severe disruptions such as supply chain breaks, technology events cancellations, and office shutdowns. The shutdown of various plants and factories in leading regions such as North America, Europe, Asia-Pacific, South America, and the Middle East, and Africa has restricted the global supply chain and hindered the manufacturing activities, delivery schedules, and various chemicals and materials sales. Furthermore, various companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition, the global travel bans imposed by countries in Europe, Asia, and North America are hampering the business collaborations and partnerships opportunities. All these factors are affecting the chemical & materials industry in a negative manner, which is restraining the growth of various markets related to this industry.
Hot Melt Adhesives Market Insights
Based on product type, the hot melt adhesives market is segmented into glue sticks, glue slugs, and others product type. The glue sticks segment accounted for the largest market share in 2020 and is expected to register the highest CAGR in the market during the forecast period. Hot melt glue sticks are cylindrical sticks with varied diameters, and they are used with a hot glue gun. These sticks are in solid form at room temperature. These products are designed in both high and low temperature glue guns variants. A few hot melt stick adhesives have been created to deliver longer open time so that they can be sprayed on wider areas for bonding. Hot melt glue stick adhesives generate minimal waste and have relatively small environmental impact, which makes them suitable for a wide range of applications in food packaging, carton-sealing, printing, publishing, textile manufacturing, electronics, woodworking, and building and construction industries.
Geographically, the global hot melt adhesives market is segmented into five regions—North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SAM). Asia Pacific held the largest market share in 2020, followed by North America and Europe. Asia Pacific is further expected to register the highest CAGR during the forecast period. Asia Pacific has the presence of major market players such as H.B. Fuller Company, Henkel AG & Co. KGaA, Arkema, and many others.
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