The hot melt adhesives market promises robust growth as applications in electronics, and packaging continues to witness robust growth. The hot melt adhesives market is also expected to witness rise in demand from sectors like automobile where light-weight new materials are replacing conventional bodies in vehicles. The rising demand for products and material advancements are expected to open robust opportunities for players during the forecast period 2018-2026.
Hot melt adhesives are widely popular in industrial use both in manufacturing as well as packaging. These offer several advantages over conventional solutions like solvent-based adhesives. These can eliminate reliance on volatile organic compounds, and eliminate steps like drying or curing which drives up productivity. Moreover, hot melt adhesives also can be disposed of with very few precautions and provide a long shelf life. The long shelf life offered by these products makes their application essential in electronics as well as automotives. The growing demand for wearable devices, horizons of 5G, and manufacturing growth of electric vehicles are creating new opportunities in the hot melt adhesives market.
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Packaging Industry Promises to Remain Dominant in Growth
Hot melt adhesives also known as HMAs are widely used in packaging industry. These offer bonding mechanism for a wide variety of substrates including rubbers, paper, metals, ceramics, wood, glass, plastics, and more. Their widespread use in the packaging industry remains dominant in several applications including closing corrugated boxes, and paperboard cartons. Moreover, it is also used for spine gluing in the bookbinding industry. Furthermore, product assembly, profile wrapping, and laminating applications for HMAs are also on the rise. The market is also expected to cater to growing demands for baby products like disposable diapers as bonding the non-woven material to elastics and backsheet provides tremendous application.
Growth of Electronics to Promise Robust Growth
Trends like automation, increased influx of smart devices, and electric vehicles will provide robust growth for players in the hot melt adhesives market. These products are widely used for insulation, affixing wires or parts, among other applications. These also play a key role in protection of device component which is integral for quality of electronics. The rising demand for electronics like smartphones, wearables, and automated smart devices are expected to create significant opportunities for players in the hot melt adhesives market. Moreover, horizons of 5G and upgradation of all existing infrastructure will be key to its growth. Textile and trends like wearable textile driven by 3D printing also promise new opportunities for players in the hot melt adhesives market.
Limitations like thermal load substrate remained barriers to growth earlier. These resulted in sensitivity to higher temp applications, and loss of bond strength. However, new packaging and manufacturing technologies promise to overcome these challenges with nearly 60 to 70% improvements. The improving advancements in manufacturing technologies will also drive robust growth for players in the hot melt adhesives market.
The information shared in this review is based on a TMR report, bearing the title, “Hot Melt Adhesives Market (Type - Thermoplastic Polyurethane, Ethylene Vinyl Acetate, Styrenic-butadiene Copolymers, Polyolefins, and Polyamide; End User - Building and Construction, Paper, Board, and Packaging, Woodworking and Joinery, Transportation, Footwear and Leather, Healthcare, and Electronics)- Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2016– 2024.”
The global hot melt adhesives market is segmented based on:
- Thermoplastic Polyurethane
- Ethylene Vinyl Acetate
- Styrenic-butadiene Copolymers
- Building and Construction
- Paper, Board, and Packaging
- Woodworking and Joinery
- Footwear and Leather
- North America
- Rest of Europe
- Middle East and Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
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