Hot Melt Adhesives Market - Snapshot

Hot melt adhesives are chemicals that are thermally melted to develop cohesion (internal strength) by means of cooling. These adhesives primarily consist of three components: polymer or blend of polymers, tackifying resin, and wax/oil. Hot melt adhesives may also include an antioxidant, filler or UV stabilizer, or pigment as per the application. Base polymer is the key constituent of hot melt adhesives. It is used to provide inherent strength, chemical resistance, and application characteristics. Tackifiers are added to enhance initial adhesion and modify the base polymer, while processing oils and waxes are added to regulate viscosity and set times. 

global hot melt adhesives market

Ethylene vinyl acetate, polyolefins, polyamides, polyurethanes and styrene block copolymer are the key product types of hot melt adhesives available in the global hot melt adhesives market. Amorphous polyalphaolefin and Metallocene Polyolefin are the sub-types of polyolefin hot melt adhesives. The ethylene vinyl acetate segment holds significant share of the market due to its cost effectiveness and ease of manufacturing. It is used widely in packaging, furniture, bookbinding, and footwear industries. Polyurethanes and styrene block copolymers are the other key product segments of the market. Polyolefins and polyamides hot melt adhesives are gaining popularity due to their superior adhesion properties. 

Hot melt adhesives are solid at room temperature and require melting before their application. Various equipment are used to melt hot melt adhesives before they are applied onto a substrate.

Hot melt adhesives are employed in a wide range of applications such as packaging, construction, automotive, non-woven/hygiene, furniture, footwear, book and paper binding, and electronics. Packaging is a major segment of the global hot melt adhesives market. Hot melt adhesives are employed extensively in packaging applications such as case sealing, corrugated waxed board, trayforming, carton sealing of standard bleached sulfate, heat sealing, and container labeling. Hot melt adhesive is a cost effective type of adhesive that can adhere to all kind of papers, boards, plastics, and other substrates. 

In terms of volume and value, the ethylene vinyl acetate segment held major share of more than 30% and more than 40% of the global market, respectively, in 2017. Polyurethanes is a rapidly expanding segment of the market. It is driven by the rise in demand in construction, furniture, and product assembly applications. 

Growth in the non-woven/hygiene segment is anticipated to drive the global market. Hot melt adhesives play a key role in the manufacture of disposable non-woven/hygiene products such as baby diapers (nappies), feminine care products, adult incontinence articles, and others such as medical dressings, hospital bed pads, and surgical drapes. Development of the health care sector, especially in emerging economies such as China and India, and advantages of hot melt adhesives, such as high resistance to acids and solvents and cost-effectiveness over other types of adhesives, are estimated to propel the demand for hot melt adhesives in non-woven/hygiene products in the health care industry. Technical limitations of hot melt adhesives such as smaller temperature range to which it can be exposed than water-based and solvent-based adhesives are estimated to hamper the market in the near future. 

In terms of volume, Asia Pacific held the leading share of more than 40.0% of the global hot melt adhesives market in 2017. China is a major country for hot melt adhesives; key players operate in the market in the country along with several local and unorganized manufacturers. China and India constitute prominent share of demand for hot melt adhesives in Asia Pacific, due to the expanding packaging construction sectors in these countries. Asia Pacific is estimated to maintain its dominance in the global market throughout the forecast period, led by the increase in demand for these adhesives in food packaging and rise in awareness about health care. The market in North America, Europe, and Asia Pacific is expected to expand at a rapid pace, while that in Latin America and Middle East & Africa is anticipated to expand at a sluggish pace between 2018 and 2026. 

Around 70% of the global hot melt adhesives market is consolidated, while the rest is fragmented with the presence of regional and local players. The market has experienced acquisitions of key manufacturers by large chemical companies. For instance, Arkema acquired Bostik, an adhesive specialist company, in 2015. Prominent players operating in the market are H.B. Fuller Company, Henkel AG & Company KGaA, Arkema, 3M, Sika AG, Jowat SE, TEX YEAR INDUSTRIES INC., Hexcel Corporation, Dowdupont, Beardow Adams, HEARTLAND ADHESIVES LLC, REXtac, LLC, Toyobo Co., Ltd, Akzo Nobel N.V., and Exxon Mobil Corporation. Market players have been profiled in terms of attributes such as company overview, financial overview, business strategies, and recent developments.

Hot Melt Adhesives Market - Overview

Hot melts are chemicals that are thermally melted to develop cohesion (internal strength) by Middle East & Africans of cooling. Hot melt adhesives primarily consist of three components: polymer or blend of polymers, tackifying resin, and wax/oil. These adhesives also include an antioxidant, filler or UV stabilizer, or a pigment as per the application. Hot tack, open time, and settling time are the key properties of hot melt adhesives. Hot tack refers to the stickiness of an adhesive, while open time is the time taken by an adhesive to create the bond. Settling time is the time taken by an adhesive to form a bond of acceptable strength.

Based on application, the packaging segment held major share of the global hot melt adhesives market in 2017 owing to the growth in the packaging industry, led by expansion of retail chains and burgeoning health care and cosmetics sectors. This trend is likely to continue throughout the forecast period. Non-woven/hygiene is also a key application segment of the global hot melt adhesives market.

In terms of value and volume, Asia Pacific accounted for prominent share of the global hot melt adhesives market in 2017. The region is expected to continue its dominance during the forecast period. China and India are highly lucrative countries for hot melt adhesives in Asia Pacific. Rise in demand for packaging applications in food and e-commerce industries is boosting the market in Asia Pacific. Advancements in the health care industry and improvements in lifestyle in China and India are also anticipated to propel the demand for hot melt adhesives in non-woven/hygiene products. The European Union and the U.S. Government have imposed restrictions on materials with high VOC content such as solvent-based adhesives. This is estimated to augment the demand for hot melt adhesives in these regions.

Hot melt adhesives carry technical limitations such as smaller temperature range to which they can be exposed due to lower melting points compared to their close substitutes such as solvent-based adhesives and water-based adhesives. This is expected to restrain the market in the near future.

This report analyzes and forecasts the market for hot melt adhesives at the global, regional, and country levels. The market has been forecast in terms of value (US$ Mn) and volume (kilo tons) from 2018 to 2026, considering 2017 as the base year. The study includes market indicators, drivers, and restraints of the global hot melt adhesives market. It also covers the anticipated impact of these drivers and restraints on demand for hot melt adhesives during the forecast period. The report also highlights opportunities in the hot melt adhesives market at the global and regional levels.

The report also analyzes price trends and forecasts prices of hot melt adhesives at the global and regional levels.

The report includes detailed value chain analysis, which provides a comprehensive view of the global hot melt adhesives market. Porter’s Five Forces model for the hot melt adhesives market has also been included to help understand the competition landscape of the market. The report covers the regulatory landscape that includes various regulations regarding the product across the globe to understand the various legal constraints that can affect the product offering. The study encompasses market attractiveness analysis, wherein product and application segments have been benchmarked based on their market value, growth rate, and general attractiveness.

The study provides a decisive view of the global hot melt adhesives market by segmenting it in terms of product and application. In terms of product, the market has been segmented into ethylene vinyl acetate, polyolefins (amorphous polyolefin and metallocene polyolefin), polyamides, polyurethanes, styrene block copolymers, and others (including polycarbonate and polycaprolactone). In terms of application, the hot melt adhesives market has been segregated into packaging, construction, automotive, non-woven/hygiene, furniture, footwear, book and paper binding, electronics, and others (including textiles and DIY). Market segments have been analyzed based on the present and future trends. Regional segmentation includes the current and forecast demand for hot melt adhesives in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

The report provides the actual value of the hot melt adhesives market for 2017 and the estimated market value for 2018 along with forecast for the next eight years. The size of the global hot melt adhesives market has been provided in terms of volume (kilo tons) and value (US$ Mn). The market value has been provided for the global, regional, and country-level markets.

The report comprises profiles of major companies operating in the global hot melt adhesives market. Around 70% of the global hot melt adhesives market is consolidated, while the rest is fragmented with the presence of a few unorganized players. Key players include H.B. Fuller Company, Henkel AG & Company KGaA, Arkema, 3M, Sika AG, Jowat SE, TEX YEAR INDUSTRIES INC., Hexcel Corporation, Dowdupont, Beardow Adams, HEARTLAND ADHESIVES LLC, REXtac, LLC, Toyobo Co., Ltd, Akzo Nobel N.V., and Exxon Mobil Corporation. Market players have been profiled in terms of attributes such as company overview, financial overview, business strategies, and recent developments. The report also comprises a matrix of comparison between the top four players operating in the global hot melt adhesives market along with analysis of business strategies. 

The global hot melt adhesives market has been segmented as follows: 

Global Hot Melt Adhesives Market, by Product

  • Ethylene Vinyl Acetate
  • Polyolefins
  • Amorphous Polyolefin 
  • Metallocene Polyolefin
  • Polyamides
  • Polyurethanes
  • Styrene Block Copolymers
  • Others (including Polycarbonate and Polycaprolactone)

Global Hot Melt Adhesives Market, by Application

  • Packaging
  • Construction
  • Automotive
  • Non-woven/Hygiene
  • Furniture
  • Footwear
  • Book and Paper Binding
  • Electronics
  • Others (including Textiles and DIY)

Global Hot Melt Adhesives Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Russia & CIS
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • ASEAN
    • Taiwan
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Key Takeaways

  • Global and regional share of the hot melt adhesives market in terms of volume (kilo tons) and value (US$ Mn), by product and application segments for the period between 2018 and 2026
  • Detailed analysis of the country-level demand for hot melt adhesives in countries/sub-regions including the U.S., Canada, Germany, the U.K., Italy, Spain, France, Russia & CIS, China, India, Japan, ASEAN, Taiwan, Brazil, Mexico, GCC, and South Africa with respect to different product and application segments for the period from 2018 to 2026
  • Key indicators, drivers, restraints, and opportunities in the global hot melt adhesives market
  • Price trend forecasts of the global hot melt adhesives market in terms product
  • Regulatory landscape, value chain analysis and Porter’s Five Forces analysis of the global hot melt adhesives market
  • Market attractiveness analysis of the global hot melt adhesives market, by product and application
  • Key findings of the hot melt adhesives market in each region and in-depth analysis of major product and application segments in terms of volume and value
  • Competition matrix of key players operating in the market of major companies
  • Detailed company profiles of 15 market players
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