The hot melt adhesive tape market is evaluated at US$22.145 billion for the year 2020, growing at a CAGR of 6.11% to reach a market size of US$33.532 billion by the year 2027.
Hot melt adhesives (HMAs) are commonly used to create a strong and flexible binding between materials. Hot melt adhesives are often made up of a mixture of solvent-free chemicals. These are found in nature as thermoplastics that solidify at room temperature. To achieve the desired finish, such adhesives are first melted and then cooled before being applied to the surface. Furthermore, hot melt adhesives are gaining popularity in many parts of the world because they provide environmental compatibility, strong thermal stability and resistance, safe storage, and effective storage. Hot melt adhesives are also widely utilized in a variety of applications, including woodworking, carton sealing, food packaging, construction, and many more.
In the projected future, the global market is expected to benefit from an expanding range of applications. Furthermore, the rising need for HMAs in many DIY applications is projected to boost global demand. Due to the increased displacement of traditional adhesive technologies by HMAs, the hot melt adhesives industry is also growing. Other than that, Asia-Pacific's packaging and nonwoven applications are giving fresh prospects to the worldwide industry. Furthermore, as the use of HMAs in road marking applications grows, producers will have more opportunities.
However, the market for hot melt adhesives may face additional obstacles as a result of the difficulty of using hard-to-bond compounds and being susceptible to higher temperatures, which can lead to loss of bond strength.
Because of its expanding applications in food packaging, electronics, and construction, the ethylene-vinyl acetate kind sector is anticipated to have a larger market share in the hot melt adhesives market. In addition, this segment is seeing increased demand from its end-use industries, as well as increased demand for hot melt adhesives. Because of its dependability and environmental friendliness, the ethylene-vinyl acetate sector is expected to dominate the worldwide hot melt adhesives market in the coming years.
In terms of application, the packaging category accounted for the majority of the market share.. Demand for packaging and nonwoven goods is increasing, which is propelling the market forward. Unlike their solvent- or water-based equivalents, they do not require drying or curing. The market for superior-performance hygiene adhesives is growing due to the increasing demand for adult incontinence products, newborn diapers, and female safety goods around the world. A major factor driving the market's growth is the huge market for HMA in the building and packaging industries. HMA's application for endpoint repair in the automobile industry, as well as the growing preference for such materials in pressure-sensitive industries, are projected to propel the market forward.
The Asia-Pacific continues to lead the market and is expected to remain so during the forecast period. Emerging economies such as India, China, and Japan are high-growth markets for the application of these adhesives. The furniture and construction sectors, as well as continuous infrastructure and manufacturing investment, are expected to boost the market's expansion. The Asia-Pacific region's rapidly expanding package industrial base, paired with rapidly increasing demand for nonwoven goods, is key to consumer growth.
COVID-19 had a mixed impact on hot melt adhesive sales. Apart from shipping delays induced by travel restrictions and minor driver shortage issues, COVID-19 has had little influence on raw material supply for hot melt adhesives. As a result of the pandemic and massive declines in oil prices, sectors that use hot melt adhesives are facing varying degrees of demand. The furniture and woodworking sectors, as well as the automotive and transportation industries, were the hardest hit by the pandemic. Hot melt adhesives were in high demand in the packaging industry, particularly for use in flexible packaging, beverage packaging and containers, and pet food packaging. Recent Development
Jowat SE stated in February 2020 that Jowatherm-Reaktant MR 604.90, the first PUR hot melt adhesive with a decreased monomer concentration and thus hazard-free marking, has been authorized for the wrapping of PVC window profiles according to RAL-GZ 716.
Henkel AG & Co. KGaA debuted hot melt adhesives for palletization at FachPack 2019 in September 2019. Henkel AG & Co. KGaA's TechnomeltSupra PS product line enables palletization with no or minimal plastic film. The pallets are held together by a hot melt adhesive that links the outside packets.
|Market size value in 2020||US$22.145 billion|
|Market size value in 2027||US$33.532 billion|
|Growth Rate||CAGR of 6.11% from 2020 to 2027|
|Forecast Unit (Value)||USD Billion|
|Segments covered||Product Type, Application, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||3M, Avery Dennison Corporation, H. B. Fuller, Huntsman Corporation, Hexcel Corporation, American Chemical Inc., Bostik, Dynea, Jowat, Piezomechanik|
|Customization scope||Free report customization with purchase|
Frequently Asked Questions (FAQs)
Q1. What will be the hot melt adhesive tape market size by 2027?
A1. The hot melt adhesive tape market is projected to reach a total market size of US$33.532 billion in 2027.
Q2. What is the size of the global hot melt adhesive tape market?
A2. Hot Melt Adhesive Tape Market was valued at US$22.145 billion in 2020.
Q3. What are the growth prospects for the hot melt adhesive tape market?
A3. The global hot melt adhesive tape market is projected to grow at a CAGR of 6.11% during the forecast period.
Q4. Which region holds the largest market share in the hot melt adhesive tape market?
A4. The Asia-Pacific continues to lead the hot melt adhesive tape market and is expected to remain so during the forecast period.
Q5. What factors are anticipated to drive the hot melt adhesive tape market growth?
A5. A major factor driving the hot melt adhesive tape market growth is the huge market for HMA in the building and packaging industries.
H. B. Fuller
American Chemical Inc.
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