Manufacturers of hot melt adhesives are using technology to not only increase production but also for incorporating bio-based components.
The global hot melt adhesives market is anticipated to create a lucrative growth opportunity in the global landscape by registering a CAGR of 5.3%. from 2022 to 2032. The market is expected to reach a valuation of US$ 7,562.9 Million by the end of 2022 and is predicted to reach US$ 12,675.7 Million by 2032.
These factors are likely to drive the global hot melt adhesives market in the upcoming decade. As per FMI, the market is estimated to exhibit a CAGR of 5.3% from 2022-2032. Over the historical period, the global hot melt adhesives market witnessed a CAGR of 4.8% between 2014 to 2021.
The manufacturing activities have been reduced and significant reduction has been witnessed in the product capacities, and part-time shifts, as well as the introduction of automated production machinery, let manufacturers improve their market positions.
These aforementioned factors are expected to drive the hot melt adhesives market during the forecast period. Several regulatory bodies including the Registration, Evaluation, Authorization, and Restriction of Chemicals (REACH) and the Environmental Protection Agency (EPA) are expected to take more steps in order to limit the use of solvent-based adhesives which helps in reducing their negative impacts on the environment.
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Key Takeaways
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Key Companies Profiled:
Competitive Landscape
In order to elevate their annual turnover and fortify their market positions worldwide, leading manufacturers in the market are purchasing small-scale market players. To efficiently meet the rising demand and thrive in the highly competitive market, key participants are also concentrating on mergers and expansion activities.
Hot Melt Adhesives Market Outlook by Category
By Polymer Base:
By End Use:
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More Insights into the Hot Melt Adhesives Market
The U.S. is anticipated to dominate the global hot melt adhesives market owing to the presence of various dominant manufacturers in the North American region. In addition to that, the increasing adoption of advanced technology in the U.S. would also contribute to the growth in the hot melt adhesives market in the country.
The U.S. packaging industry is expected to be a key driver of market expansion owing to the presence of leading packaging manufacturers in the region.
China is the second largest market in the East Asia hot melt adhesives market attributed to the rapid expansion of various end-use industries. Owing to the rising demand from sectors, including footwear, packaging, disposable hygiene products, textile chemicals, and automotive & transportation, China is projected to showcase considerable growth.
Explore FMI’s Extensive ongoing Coverage in the Chemicals & Materials Domain
Polyurethane Adhesives Market: According to Future Market Insights research, during the projected period, the global polyurethane (PU) adhesives market is set to top a valuation of US$ 9.63 Bn in 2022, and further expand at a CAGR of 6.1% during 2022-2032.
Electronics Adhesives Market: Demand for electronics adhesives grew at 7.5% CAGR in the historic growth period during 2016-2020. The electronics adhesives market has seen remarkable growth in Europe and East Asian countries.
Future Market Insights (ESOMAR-certified market research organization and a member of the Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favo
Mar 21, 2023