Hot Melt Adhesives Market 2030 : Increasing adoption of hot melt adhesives in the footwear industry

 

Rising demand for hot melt adhesives for Do It Yourself (DIY) art and craft, and increasing adoption of hot adhesives for lamination of wooden panels and kitchen countertops are some key factors driving market revenue growth

The global Hot Melt Adhesives Market size is expected to reach USD 13.75 Billion in 2030 and register a revenue CAGR of 6.9% over the forecast period, according to latest report by Reports and Data. Rising demand for hot melt adhesives for Do It Yourself (DIY) art and craft projects, and increasing adoption of these adhesives for lamination of wooden panels and kitchen countertops are expected to drive market revenue growth during the forecast period. Increasing adoption of hot melt adhesives in the footwear industry is also expected to boost growth of the global hot melt adhesives market in near future.

Hot melt adhesives help to decrease the fume or yellow coloring caused by over-heating, and polyolefin-based hot melt adhesives provide high penetration and strong bond to various materials, especially in footwear assembly. Hot melt adhesives are also used in various applications during the manufacturing process of footwear, such as lamination of shoe vamp, bonding of counter and insole, and foam pasting, which is another major factor to increase demand for hot melt adhesives in the footwear industry. Additionally, increasing usage of hot melt adhesives for lamination of furniture and wooden products to provide a strong bond with the fabric attached to the furniture is also expected to drive revenue growth of the market. 

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Top Companies: The 3M Company, Arkema S.A, Dow Silicones Corporation, H.B Fuller Company, Henkel AG & Company KGaA, Jowat SE, Beardow & Adams (Adhesives) Limited, Sika AG, Avery Dennison Corporation, and Ashland Global Specialty Chemicals, Inc.

Further Key Finding from the Report Suggestion:

·         Ethylene-vinyl Acetate (EVA) segment is expected to account for a larger revenue share over the forecast period. Rising adoption of ethylene-vinyl acetate for padding sports equipment, such as bicycle saddles, boxing pads, hockey pads, helmets, and others, by sports equipment manufacturers is increasing demand for ethylene-vinyl acetate, which is expected to boost revenue growth of the segment.

·         Packaging solutions segment is expected to account for largest revenue share in the global hot melt adhesives market between 2022 and 2030. Rising need for proper packaging solutions for products to protect their contents from any damage during transportation, handling, and storage is driving revenue growth of the segment. Packaging helps in keeping a product intact throughout its logistics chain from manufacturer to the end user, and this is leading to increasing adoption of better sealing for products, which is expected to boost growth of the segment.

·         Asia-Pacific hot melt adhesives market is expected to account for largest revenue share in the global market over the forecast period. Rapid growth of the packaging industry in countries in the region is expected to drive market revenue growth. Rising demand for non-woven hygiene products is another major factor that is expected to drive revenue growth of the hot melt adhesives market in Asia-Pacific.

·         In November 2021, Sika AG announced signing of an agreement to acquire MBCC Group, the former BASF Construction Chemicals, to boost its growth strategy and strengthen its position as a worldwide construction industry sustainability leader.

Market Overview:

Consumers are placing a higher importance on sustainability and, as a result, are choosing items based on factors like circularity and carbon footprint. Furthermore, consumer concern about carbon emissions has prompted increased investment in renewable energy, energy efficiency, and transportation decarbonization. These developments have had considerable impact on chemical end sectors, particularly in the automobile and construction industries. COVID-19 has exacerbated the situation by lowering the automobile and construction industries (as well as many others) and disrupting current supply lines.

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The global Hot Melt Adhesives market is segmented into:

·         Resin Type Outlook (Revenue, USD Billion, Volume, Kilo Tons; 2019-2030)

o    Styrenic Block Copolymers

o    Polyamide

o    Polyolefins

o    Ethylene-vinyl Acetate (EVA)

o    Amorphous Poly-alpha-olefin (APAO)

o    Polyurethane (PU)

o    Others

 Application Outlook (Revenue, USD Billion, Volume, Kilo Tons; 2019-2030)

o    Nonwoven Hygiene

o    Furniture & Wooden Work

o    Packaging Solutions

o    Bookbinding

o    Others

 Regional Outlook:

• North America (U.S.A., Canada, Mexico)
• Europe (Italy, U.K., Germany, France, Rest of Europe)
• Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
• Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
• Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Key Questions Addressed in the Report:

• What are the dominating factors that are influencing the growth of the industry?
• In the forecast period, which market segment is expected to rise the most?
• What are the risks and challenges that the industry is facing?
• In the coming years, which area is projected to dominate the market?
• Who are the major players in the market?
• What kind of strategic business plans have they made?

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