Global Hot-Melt-Based Adhesives Market Forecast To Reach $26.42 Billion By 2028 With 8.9% Annual Growth
Hot-Melt-Based Adhesives Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033
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The hot-melt-based adhesives market has experienced significant growth in recent years, projected to increase from $17.17 billion in 2023 to $18.78 billion in 2024, with a compound annual growth rate (CAGR) of 9.4%. This growth during the historical period can be linked to the expansion of the packaging industry, the growth of automotive manufacturing, the rising use of disposable hygiene products, increased production in consumer electronics, and a growing demand for woodworking applications.
What Are the Market Size Estimates for the Global Hot-Melt-Based Adhesives Market2 and Its Expected Growth Rate?
The hot-melt-based adhesives market is projected to experience robust growth in the coming years, with an expected increase to $26.42 billion by 2028 at a compound annual growth rate (CAGR) of 8.9%. This anticipated growth can be attributed to trends in automotive lightweighting, a growing focus on electric vehicles, advancements in medical device assembly, expansion within the construction industry, and stringent environmental regulations.
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What Are The Primary Growth Drivers Of The Hot-Melt-Based Adhesives Market?
The growth of the packaging industry is anticipated to drive the expansion of the hot-melt-based adhesives market. The packaging industry encompasses the segment of the economy that focuses on the design, production, and distribution of materials and solutions used to contain, protect, and showcase products for consumers. Hot-melt-based adhesives are valued for their versatility, efficiency, eco-friendliness, and cost-effectiveness, making them well-suited for a range of packaging applications. Additionally, their capability to create secure and tamper-evident bonds further increases their effectiveness for packaging requirements.
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Who Are The Top Market Players Contributing To The Growth Of The Hot-Melt-Based Adhesives Market?
Key players in the hot-melt-based adhesives market include DowDuPont Inc., Evonik Industries AG, Corteva Inc., Sika AG, Huntsman Corporation, Toyobo Co. Ltd., Hexion Inc., Hexcel Corporation, Mapei SpA, Paramelt BV, Buhnen GmbH & Co. KG, Beardow & Adams Ltd., Tex Year Industries Inc., Dymax Corporation, Bostik Inc., Worthen Industries Inc., ITW Dynatec GmbH, KLEIBERIT SE & Co. KG, Wisdom Adhesives LLC, American Chemical Inc., Jowat SE, Daubert Chemical Company, Sealock Ltd., Permabond Engineering Adhesives Ltd., Sipol spa, Helmitin Inc., Adhesive Direct UK, Costchem SRL, Evans Adhesive Corporation Ltd., Sanyhot Adhesivos SA.
What Emerging Trends Are Affecting The Size Of The Hot-Melt-Based Adhesives Market?
Leading companies in the hot-melt-based adhesives market are focusing on the development of biodegradable hot-melt-based adhesives to enhance their competitive advantage. Biodegradable hot-melt-based adhesives are designed to naturally break down and decompose into environmentally friendly substances when subjected to conditions like moisture, heat, or microorganisms.
How Is the Global Hot-Melt-Based Adhesives Market Segmented?
1) By Type: Thermoplastic Polyurethane, Ethylene Vinyl Acetate, Styrenic-butadiene Copolymers, Polyolefins, Polyamide, Other Resin Types
2) By Application: Packaging Solutions, Nonwoven Hygiene Products, Furniture & Woodwork, Bookbinding, Other Applications
3) By End User: Building and Construction, Packaging, Transportation, Electrical and Electronic Appliances, Healthcare, Other End Users
Geographical Analysis: Asia-Pacific Emerges as the Hot-Melt-Based Adhesives Market Leader
Asia-Pacific was the largest region in the market in 2023. North America was the second largest region in the market. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is The Definition And Overview Of The Hot-Melt-Based Adhesives Market?
Hot-melt-based adhesives are thermoplastic adhesives that are heated to create a molten state before being applied to surfaces, typically using an electric hot glue gun. These adhesives are sold in a solid form at room temperature and are activated by heating beyond their softening point, which ranges from 50 to 160 degrees Celsius.
The Hot-Melt-Based Adhesives Global Market Report 2024 from The Business Research Company includes the following key information:
• Market size data for both historical and future periods
• Analysis of both macro and microeconomic factors that have impacted the market over the past five years
• Regional market analysis covering Asia-Pacific, China, Western Europe, Eastern Europe, North America, the USA, South America, and the Middle East and Africa
• Country-specific market analysis for Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.
Overview of the Global Hot-Melt-Based Adhesives Market3 Report: Trends, Opportunities, Strategies, and More
The Hot-Melt-Based Adhesives Global Market Report 2024 from The Business Research Company is an extensive resource that delivers insights into hot-melt-based adhesives market size, hot-melt-based adhesives market drivers and trends, hot-melt-based adhesives competitors' revenues, and hot-melt-based adhesives market growth across geographies. This report provides valuable in-depth insights into potential opportunities and strategies. Companies can utilize the information presented to target segments with the greatest growth potential.
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