Hot-Melt-based Adhesives Global Market Report 2024

The hot-melt-based adhesives market size has grown strongly in recent years. It will grow from $17.17 billion in 2023 to $18.78 billion in 2024 at a compound annual growth rate (CAGR) of 9.4%. The growth observed in the historic period can be attributed to several factors, including the expansion of the packaging industry, growth in automotive manufacturing, increased production of disposable hygiene products, consumer electronics manufacturing, and rising demand in woodworking applications.

The hot-melt-based adhesives market size is expected to see strong growth in the next few years. It will grow to $26.42 billion in 2028 at a compound annual growth rate (CAGR) of 8.9%. Forecasted growth is driven by automotive lightweighting, electric vehicle emphasis, medical device assembly, construction industry expansion, and stringent environmental regulations. Key trends include manufacturing tech advancements, sustainability focus, disposable hygiene product demand, strategic partnerships, and customization in formulations.

The increasing awareness of environmental preservation has led consumers to seek out eco-friendly products, and in this context, hot melt adhesives are gaining prominence. Features such as affordability, absence of volatile organic compounds (VOC) release into the environment, extended shelf life, reusability without degradation, and rapid drying make hot melt adhesives more environmentally friendly compared to other adhesive options. Notably, companies such as Bostik are at the forefront of providing hot-melt polyurethane adhesive solutions for the textile industry. Leveraging solventless technology, these adhesives reduce reliance on hazardous solvents such as methylene chloride. This innovation has found success in Asian underwear, sportswear, and medical garment manufacturing, contributing to the growing demand for hot-melt polyurethane adhesives and driving the overall hot melt adhesives market.

The surge in the packaging industry is poised to be a significant driver for the growth of hot-melt-based adhesives. The packaging industry, encompassing the design, production, and distribution of packaging materials and solutions, plays a pivotal role in containing, protecting, and presenting products to consumers. Hot-melt-based adhesives stand out for their versatility, efficiency, eco-friendliness, and cost-effectiveness, making them well-suited for diverse packaging applications. Their ability to create secure and tamper-evident bonds further enhances their appeal for packaging needs. For instance, data from VDMA, a Germany-based trade association, reveals that in 2021, the food processing and packaging machinery industry in Germany generated $16.75 billion (€14.8 billion) in revenue, marking a significant 7% increase compared to 2020. Consequently, the growth of the packaging industry emerges as a key driver propelling the expansion of the hot-melt-based adhesives market.

Numerous products manufactured by adhesive companies pose potential hazards during their production phases, primarily due to processes involving high temperatures and high-pressure reactions, necessitating meticulous control to prevent accidents. Moreover, certain dyes produced in the manufacturing of these adhesives can be harmful to both living organisms and the environment. Consequently, regulations within the adhesives industry have intensified over the historical period, focusing on assessing and managing risks associated with the manufacturing, transportation, and disposal of chemicals. Adhesive products must align with intricate regulations governing labeling, handling, manufacturing, shipping, and storage, imposing additional compliance costs on hot melt-based adhesive companies. The challenges are further exacerbated by variations in regulations across different countries and regions.

Many hot melt-based adhesive companies are embracing Internet of Things (IoT) technologies. These technologies facilitate the connectivity of equipment and smart devices, providing real-time insights and pinpointing gaps in the manufacturing process. The data collected is then processed, analyzed, and interpreted by plant managers and senior-level management to enhance product quality and achieve optimal production levels. For instance, smart systems equipped with embedded software and analytics tools offer information on the working conditions and performance of chemical reactors, enabling plant operators and managers to receive timely notifications of potential machine breakdowns. Prominent companies, including BASF SE, The Dow Chemical Company, and H.B. Fuller, are actively adopting IoT solutions to streamline their operations and enhance overall efficiency.

Leading companies in the hot-melt-based adhesives market are actively engaged in the development of biodegradable formulations to establish a competitive advantage. Biodegradable hot-melt-based adhesives are designed to naturally break down and decompose into environmentally friendly substances when exposed to specific environmental conditions such as moisture, heat, or microorganisms. Demonstrating this commitment to sustainability, Henkel AG & Co. KGaA, a prominent Germany-based chemicals company, launched the Technomelt Supra ECO in February 2021. This new range of hot-melt adhesives, developed in collaboration with Dow, places a strong emphasis on sustainability while maintaining high-performance standards. With up to 98% bio-based content, these adhesives deliver the same level of adhesion, set time, and heat resistance as their conventional counterparts. Additionally, they contribute to carbon footprint reduction, are compatible with paper recycling, and hold ISCC certification, ensuring traceable and sustainable sourcing. This strategic move reflects the industry's commitment to environmentally conscious solutions and aligns with the growing demand for sustainable adhesive alternatives.

Major companies operating in the hot-melt-based adhesives market report are 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.

Asia-Pacific was the largest region in the hot-melt-based adhesives market in 2023. North America was the second-largest region in the global hot-melt-based adhesives market. The regions covered in the hot-melt-based adhesives market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the hot-melt-based adhesives market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Primary types include thermoplastic polyurethane, ethylene vinyl acetate, styrenic-butadiene copolymers, polyolefins, polyamide, and other resin variations. Polyamide is a polymer with amide group connections between monomer units. These adhesives are used in packaging solutions, nonwoven hygiene products, furniture, bookbinding, and various sectors across industries such as building and construction, packaging, transportation, electronics, healthcare, and more.

The hot-melt-based adhesives market research report is one of a series of new reports that provides hot-melt-based adhesives market statistics, including hot-melt-based adhesives industry global market size, regional shares, competitors with a hot-melt-based adhesives market share, detailed hot-melt-based adhesives market segments, market trends and opportunities, and any further data you may need to thrive in the hot-melt-based adhesives industry. This hot-melt-based adhesives market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The hot-melt-based adhesives market consists of the sales of hot-melt pressure-sensitive adhesives, and poly amides hot-melt adhesives. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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