Description
The global Hot Melt Adhesive market estimated at US$17.74 Billion in the year 2024 is now projected to grow at a CAGR of 4.76% and reach US$22.83 Billion by 2030.
The research report provides a comprehensive review of market trends, market growth drivers, PEST Analysis, Market growth inhibitors, and strategic industry activities and SWOT Analysis of key players in the market.
The report provides market estimates and forecast for geographic markets such as the North America (US, Canada, Mexico and Rest of North America), South America (Brazil, Argentina and Rest of South America), Europe (Germany, France, U.K., Russia, Italy, Spain, Sweden, Netherlands, Poland, Austria, Norway, Switzerland, Denmark and Rest of Europe), Asia-Pacific (China, Japan, South Korea, Taiwan, India, Australia and Rest of Asia-Pacific), Middle East (Iran, Turkey, Kuwait, UAE, Israel and Rest of Middle East) & Africa.
North American hot melt adhesive market is expected to grow significantly over the forecast period. This growth can be attributed to the trend for biodegradable packaging across packaging, lamination and bookbinding industries. The global push for sustainable packaging solutions has prompted investments in biodegradable hot melt adhesives. Furthermore, traction for online shopping has augured well for leading companies vying to boost their footfall. Adhesive manufacturers could gain an uptick from the e-commerce sector across the U.S. and Canada. U.S. contributed around 74% of the total North American hot melt adhesive market and is estimated to have a market value of US$4.08 Billion in the year 2024.
Asia Pacific hot melt adhesive market is anticipated to witness an upsurge owing to the rapid urbanization and the growing industrial sector in the region. Bulk availability of the raw material, higher domestic demand and availability of low-cost labor makes this region the most attractive market for hot melt adhesive manufacturers. China is expected to dominate the Asia-Pacific market and reach a market size of US$4.48 Billion by 2030.
Within Europe, France, Germany, and the U.K. are the key countries responsible for the significant growth of the regional market. Germany is expected to grow at a fastest CAGR of 4.95% over the forecast period.
Meanwhile, the Middle East & Africa is expected to show limited growth due to the strong presence of under-developed countries in Africa who are still struggling to meet technology standards. However, any growth that the region experiences is expected to come from developing Middle Eastern nations such as Qatar, U.A.E, and Oman due to a similar growth pattern as the Asia Pacific.
Key players profiled in the report include 3M Company; Adhesive Technologies Inc.; Alfa International Corporation; American Chemical, Inc.; Ashland Global Holdings Inc.; Avery Dennison Corporation; Beardow & Adams (Adhesives) Limited; Bostik Inc.; Capital Adhesives & Packaging Corp.; Costchem srl; Daubert Chemical Company, Inc. ; Dow Inc.; Evans Adhesive Corporation Ltd.; H.B. Fuller Company; Henkel AG & Co. KGaA; Jowat SE; LORD Corporation ; Sika AG ; Tex Year Industries Inc.; Toyobo Co., Ltd ; Worthen Industries Inc., among others.
