The global hot melt adhesives market size was USD 8.29 billion in 2023, calculated at USD 8.79 billion in 2024 and is projected to surpass around USD 15.74 billion by 2034, expanding at a CAGR of 6% from 2024 to 2034.
The global hot melt adhesives market size accounted for USD 8.79 billion in 2024 and is expected to be worth around USD 15.74 billion by 2034, at a CAGR of 6% from 2024 to 2034.
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The Asia Pacific hot melt adhesives market size was estimated at USD 3.81 billion in 2023 and is predicted to be worth around USD 7.24 billion by 2034, at a CAGR of 6.2% from 2024 to 2034.
The Asia Pacific emerged as a dominating market and accounted for a revenue share of more than 46% in 2023. In addition, the region also registers the fastest growth rate of approximately 5.6%, in terms of value, during the forthcoming years. Significant expansion of manufacturing base for packaging industry along with rapid rise in demand for nonwoven products in the region accounted as the prominent factor that drives the market growth for hot melt adhesives over the forecast timeframe.
North America estimated to grow at a rate near to 4.4%, in terms of value, from the year 2024 to 2034. The region is a hub of some major packaging manufacturers that are International Paper, Ball Corporation, and Owens-Illinois packaging sector is the major factor that expected to be the crucial factor that drives the market growth for hot melt adhesives.
| Report Highlights | Details |
| Market Size in 2023 | USD 8.29 Billion |
| Market Size in 2024 | USD 8.79 Billion |
| Market Size by 2034 | USD 15.74 Billion |
| Growth Rate from 2024 to 2034 | CAGR of 6% |
| Largest Market | Asia Pacific |
| Fastest Growing Market | North America |
| Base Year | 2023 |
| Forecast Period | 2024 to 2034 |
| Segments Covered | Product, Application, Region |
| Regions Covered | North America, Asia Pacific, Europe, Latin America, Middle East and Africa |
Ethylene-Vinyl Acetate (EVA) dominated the global hot melt adhesives market accounting highest revenue share in the year 2023. EVA is highly versatile, durable, and holds strong adhesion properties because of which, it is broadly used in woodworking and packaging sectors.
On the other hand, rubber (styrene block copolymer) predicted to expand at the fastest rate of around 5.5%, in terms of value, during the analysis timeframe. The product is generally used in the manufacturing of pressure-sensitive products such as labels, tapes, and graphics. Increasing demand for labels and tapes especially from the packaging industry estimated to prosper the growth of the segment over the upcoming years.
Apart from above discussed segments, polyolefin hot melts is the other most widely used product categories. Excellent chemical resistance, low moisture permeability, and good barrier properties are some of the prime factors that contribute towards the significant growth of the segment. Additionally, the aforementioned properties of the polyolefin product are significantly used in the nonwoven product manufacturing as well as packaging industries.
Packaging application segment captured the major market share in 2023. Hot melt adhesives superior bonding, speed, and adhesion capabilities makes them an ideal packaging solution in corrugated cases, sealing bottles, and paper board cartons compared to other packaging products.
Besides this, nonwovens segment expected to exhibit the fastest growth rate during the forecast period ranging from 2024 to 2034. Increasing disposable income levels along with growing awareness among consumers related to personal hygiene are the major factors anticipated to boost the market demand for nonwoven products that includes diapers and other hygiene products mainly used by females that in turn expected to fuel the growth of the segment.
In woodworking, hot melt adhesives are largely used as a general-purpose adhesive material for bonding wooden substrates in furniture application. Increasing number of restoration and refurbishment projects across developed nations along with new construction projects in developing countries predicted to flourish the demand for hot melt adhesives in woodworking applications.
The global hot melt adhesives industry is highly consolidated in nature because of few market players capturing major market share. These industry players face stiff competition primarily on the basis of application characteristics and price of the product. Further, these players adopt strategies such as regional expansion and merger & acquisition to retain their competitive edge in the market.
Segments Covered in the Report
By Product
By Application
By Regional Outlook
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology (Premium Insights)
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Hot Melt Adhesives Market
5.1. COVID-19 Landscape: Hot Melt Adhesives Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Hot Melt Adhesives Market, By Product
8.1. Hot Melt Adhesives Market, by Product, 2024-2034
8.1.1. Polyurethane
8.1.1.1. Market Revenue and Forecast (2021-2034)
8.1.2. EVA
8.1.2.1. Market Revenue and Forecast (2021-2034)
8.1.3. Polyolefin
8.1.3.1. Market Revenue and Forecast (2021-2034)
8.1.4. Rubber
8.1.4.1. Market Revenue and Forecast (2021-2034)
8.1.5. Others
8.1.5.1. Market Revenue and Forecast (2021-2034)
Chapter 9. Global Hot Melt Adhesives Market, By Application
9.1. Hot Melt Adhesives Market, by Application, 2024-2034
9.1.1. Assembly
9.1.1.1. Market Revenue and Forecast (2021-2034)
9.1.2. Packaging
9.1.2.1. Market Revenue and Forecast (2021-2034)
9.1.3. Woodworking
9.1.3.1. Market Revenue and Forecast (2021-2034)
9.1.4. Nonwovens
9.1.4.1. Market Revenue and Forecast (2021-2034)
9.1.5. Automotive
9.1.5.1. Market Revenue and Forecast (2021-2034)
9.1.6. Others
9.1.6.1. Market Revenue and Forecast (2021-2034)
Chapter 10. Global Hot Melt Adhesives Market, Regional Estimates and Trend Forecast
10.1. North America
10.1.1. Market Revenue and Forecast, by Product (2021-2034)
10.1.2. Market Revenue and Forecast, by Application (2021-2034)
10.1.3. U.S.
10.1.3.1. Market Revenue and Forecast, by Product (2021-2034)
10.1.3.2. Market Revenue and Forecast, by Application (2021-2034)
10.1.4. Rest of North America
10.1.4.1. Market Revenue and Forecast, by Product (2021-2034)
10.1.4.2. Market Revenue and Forecast, by Application (2021-2034)
10.2. Europe
10.2.1. Market Revenue and Forecast, by Product (2021-2034)
10.2.2. Market Revenue and Forecast, by Application (2021-2034)
10.2.3. UK
10.2.3.1. Market Revenue and Forecast, by Product (2021-2034)
10.2.3.2. Market Revenue and Forecast, by Application (2021-2034)
10.2.4. Germany
10.2.4.1. Market Revenue and Forecast, by Product (2021-2034)
10.2.4.2. Market Revenue and Forecast, by Application (2021-2034)
10.2.5. France
10.2.5.1. Market Revenue and Forecast, by Product (2021-2034)
10.2.5.2. Market Revenue and Forecast, by Application (2021-2034)
10.2.6. Rest of Europe
10.2.6.1. Market Revenue and Forecast, by Product (2021-2034)
10.2.6.2. Market Revenue and Forecast, by Application (2021-2034)
10.3. APAC
10.3.1. Market Revenue and Forecast, by Product (2021-2034)
10.3.2. Market Revenue and Forecast, by Application (2021-2034)
10.3.3. India
10.3.3.1. Market Revenue and Forecast, by Product (2021-2034)
10.3.3.2. Market Revenue and Forecast, by Application (2021-2034)
10.3.4. China
10.3.4.1. Market Revenue and Forecast, by Product (2021-2034)
10.3.4.2. Market Revenue and Forecast, by Application (2021-2034)
10.3.5. Japan
10.3.5.1. Market Revenue and Forecast, by Product (2021-2034)
10.3.5.2. Market Revenue and Forecast, by Application (2021-2034)
10.3.6. Rest of APAC
10.3.6.1. Market Revenue and Forecast, by Product (2021-2034)
10.3.6.2. Market Revenue and Forecast, by Application (2021-2034)
10.4. MEA
10.4.1. Market Revenue and Forecast, by Product (2021-2034)
10.4.2. Market Revenue and Forecast, by Application (2021-2034)
10.4.3. GCC
10.4.3.1. Market Revenue and Forecast, by Product (2021-2034)
10.4.3.2. Market Revenue and Forecast, by Application (2021-2034)
10.4.4. North Africa
10.4.4.1. Market Revenue and Forecast, by Product (2021-2034)
10.4.4.2. Market Revenue and Forecast, by Application (2021-2034)
10.4.5. South Africa
10.4.5.1. Market Revenue and Forecast, by Product (2021-2034)
10.4.5.2. Market Revenue and Forecast, by Application (2021-2034)
10.4.6. Rest of MEA
10.4.6.1. Market Revenue and Forecast, by Product (2021-2034)
10.4.6.2. Market Revenue and Forecast, by Application (2021-2034)
10.5. Latin America
10.5.1. Market Revenue and Forecast, by Product (2021-2034)
10.5.2. Market Revenue and Forecast, by Application (2021-2034)
10.5.3. Brazil
10.5.3.1. Market Revenue and Forecast, by Product (2021-2034)
10.5.3.2. Market Revenue and Forecast, by Application (2021-2034)
10.5.4. Rest of LATAM
10.5.4.1. Market Revenue and Forecast, by Product (2021-2034)
10.5.4.2. Market Revenue and Forecast, by Application (2021-2034)
Chapter 11. Company Profiles
11.1. B. Fuller Company
11.1.1. Company Overview
11.1.2. Product Offerings
11.1.3. Financial Performance
11.1.4. Recent Initiatives
11.2. Henkel AG & Co. KGaA
11.2.1. Company Overview
11.2.2. Product Offerings
11.2.3. Financial Performance
11.2.4. Recent Initiatives
11.3. Dow Inc.
11.3.1. Company Overview
11.3.2. Product Offerings
11.3.3. Financial Performance
11.3.4. Recent Initiatives
11.4. Jowat SE
11.4.1. Company Overview
11.4.2. Product Offerings
11.4.3. Financial Performance
11.4.4. Recent Initiatives
11.5. Sika AG
11.5.1. Company Overview
11.5.2. Product Offerings
11.5.3. Financial Performance
11.5.4. Recent Initiatives
11.6. Arkema Group
11.6.1. Company Overview
11.6.2. Product Offerings
11.6.3. Financial Performance
11.6.4. Recent Initiatives
11.7. 3M
11.7.1. Company Overview
11.7.2. Product Offerings
11.7.3. Financial Performance
11.7.4. Recent Initiatives
11.8. Ashland Inc.
11.8.1. Company Overview
11.8.2. Product Offerings
11.8.3. Financial Performance
11.8.4. Recent Initiatives
11.9. Beardow Adams
11.9.1. Company Overview
11.9.2. Product Offerings
11.9.3. Financial Performance
11.9.4. Recent Initiatives
11.10. Avery Dennison Corporation
11.10.1. Company Overview
11.10.2. Product Offerings
11.10.3. Financial Performance
11.10.4. Recent Initiatives
Chapter 12. Research Methodology
12.1. Primary Research
12.2. Secondary Research
12.3. Assumptions
Chapter 13. Appendix
13.1. About Us
13.2. Glossary of Terms
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