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 Mn by the end of 2022 and is predicted to reach US$ 12,675.7 Mn by 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, part-time shifts, as well as 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.
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.
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:
- Ethylene Vinyl Acetate
- Polyolefin
- Polyamide
- Styrenic Block Copolymers
- Polyurethane (PU)
- Others
By End Use:
- Packaging Solutions
- Disposable Hygiene Products
- Furniture Woodwork
- Automotive Transportation
- Footwear
- Textile
- Electronics
- Bookbinding
- Others
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.
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