Product Code: 54866
The market for hot-melt adhesives is likely to register CAGR of more than 6%, during the forecast period. Major factors driving the market studied are the increasing demand from the automotive and packaging industries in Asia-Pacific and the rising environmental concerns regarding solvent-borne adhesives. Volatility in the availability and price of raw materials are forcing internal substitutions, which is expected to hinder the growth of the market studied.
- The ethylene-vinyl acetate segment dominated the market and is expected to witness a healthy growth rate during the forecast period, owing to the increasing demand from the paper, board, and packaging industry, across the globe.
- The adoption of bio-based hot-melt adhesives is likely to act as an opportunity in the future.
- Asia-Pacific dominated the market across the globe, with the largest consumption from countries such as China, India, and Japan.
Key Market Trends
Souring Demand from the Paper, Board and Packaging Industry
- An extremely high proportion of all industrial products are sold in packaging - either due to stability requirements for storage and transport or for aesthetic reasons.
- Hot-melt adhesives are mainstream adhesives in the paper, board, and packaging industry. It is most widely used for carton closing, sealing, and pallet stabilization.
- Applications of hot-melt adhesives range from corrugated box construction and lamination of printed sheets, to packaging materials used for all types of consumer products and the production of large industrial tubes and cores.
- Although normal envelopes and paper bags consist of just a single layer of material, most packaging materials used nowadays are of different materials laminated together.
- PUR hot-melt offers a stronger adhesion and cures better than traditional hot-melts, which make it a prudent choice in the growing industrial packaging industry.
- Another contributing factor for the potential demand for hot-melt adhesives in the packaging industry is the traditionally low levels of automation. This has caused many packaging producers to use alternate forms of adhesives.
- Some of the major manufacturing companies for packaging applications of hot-melt adhesives include 3M, Arkema, Henkel, Avery Dennison Corporation, Beardow & Adams (Adhesives) Ltd, Dow, etc.
Asia-Pacific Region to Dominate the Market
- Asia-Pacific dominated the global market with a share of more than 45%. With growing packaging and healthcare industries in countries like China, India, Japan, and South Korea, the consumption of hot-melt adhesives is increasing in the region.
- China has the second-largest packaging industry in the world. The country is expected to witness a consistent growth during the forecast period, owing to the rise of customized packaging, increased demand for packaged consumerist goods, in the food segment, like microwave food, snack foods, and frozen foods, etc.
- Moreover, the country witnessed rapid growth in the fast-moving consumer goods (FMCG) sector in the recent past. The growth of the FMCG market was majorly driven by the increased spending on premium and healthier products by the middle-class consumers in the country.
- Additionally, India has the fifth-largest packaging industry worldwide which is growing at a significant rate. The country's packaging industry is majorly driven by growing innovation in industries to make their products compact and portable.
- With increasing employment in the country, there is an increase in the use of ready-to-eat. In addition to this, the demand for cosmetic products is also increasing in the country.
- Such aforementioned factors are likely to drive the adhesives and sealants market in the region, during the forecast period.
The global hot melt adhesives market is highly concentrated, with the top ten players accounting for approximately 50% of the market share. The major companies include Dow, Henkel AG & Co. KGaA, 3M, Sika AG, and Arkema Group.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- Report customization as per the client's requirements
- 3 months of analyst support
Table of Contents
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
- 4.1 Drivers
- 4.1.1 Increasing Demand from the Packaging Industries in Asia-Pacific
- 4.1.2 Rising Environmental Concerns Regarding Solvent-borne Adhesives
- 4.2 Restraints
- 4.3 Industry Value-Chain Analysis
- 4.4 Porter's Five Forces Analysis
- 4.4.1 Bargaining Power of Suppliers
- 4.4.2 Bargaining Power of Consumers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products and Services
- 4.4.5 Degree of Competition
5 MARKET SEGMENTATION
- 5.1 Resin Type
- 5.1.1 Ethylene Vinyl Acetate
- 5.1.2 Styrenic Block Co-Polymers
- 5.1.3 Thermoplastic Polyurethane
- 5.1.4 Others
- 5.2 End-user Industry
- 5.2.1 Building & Construction
- 5.2.2 Paper, Board & Packaging
- 5.2.3 Woodworking & Joinery
- 5.2.4 Transportation
- 5.2.5 Footwear & leather
- 5.2.6 Healthcare
- 5.2.7 Electronics
- 5.2.8 Other End-user Industries
- 5.3 Geography
- 5.3.1 Asia-Pacific
- 18.104.22.168 China
- 22.214.171.124 India
- 126.96.36.199 Japan
- 188.8.131.52 South Korea
- 184.108.40.206 ASEAN Countries
- 220.127.116.11 Australia & New Zealand
- 18.104.22.168 Rest of Asia-Pacific
- 5.3.2 North America
- 22.214.171.124 United States
- 126.96.36.199 Canada
- 188.8.131.52 Mexico
- 184.108.40.206 Rest of North America
- 5.3.3 Europe
- 220.127.116.11 Germany
- 18.104.22.168 United Kingdom
- 22.214.171.124 France
- 126.96.36.199 Italy
- 188.8.131.52 Rest of Europe
- 5.3.4 South America
- 184.108.40.206 Brazil
- 220.127.116.11 Argentina
- 18.104.22.168 Rest of South America
- 5.3.5 Middle-East & Africa
- 22.214.171.124 Saudi Arabia
- 126.96.36.199 South Africa
- 188.8.131.52 Rest of Middle-East & Africa
6 COMPETITIVE LANDSCAPE
- 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Market Ranking Analysis
- 6.3 Strategies Adopted by Leading Players
- 6.4 Company Profiles
- 6.4.1 3M
- 6.4.2 Alfa International Corporation
- 6.4.3 Arkema Group (Bostik SA)
- 6.4.4 Ashland Inc.
- 6.4.5 Avery Dennison Corp.
- 6.4.6 Sika AG
- 6.4.7 Dow
- 6.4.8 Dymax
- 6.4.9 AICA ASIA Pacific holding Pte Ltd
- 6.4.10 H.B. Fuller Company
- 6.4.11 Henkel AG & Co. KGaA
- 6.4.12 Hexcel Corporation
- 6.4.13 Yokohama Industries Americas Inc.
- 6.4.14 Huntsman Corporation
- 6.4.15 Jowat SE
- 6.4.16 Mactac
- 6.4.17 Mapei SpA
- 6.4.18 Paramelt BV
- 6.4.19 Pidilite Industries Ltd
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
- 7.1 Adoption of Bio-based Hot-melt Adhesives
- 7.2 Innovative Product Developments to Gain Competitive Edge