05 February 2021
Visiongain has launched a new report Hot Melt Adhesives Market Report 2021-2031: Forecasts by Resin (Ethylene Vinyl Acetate (EVA), Styrene Block Copolymers (SBC), Polyolefins, Polyurethane (PU), Others), by Application (Packaging, Assembly, Woodworking, Automotive, Nonwovens, Others), AND Regional and Leading National Market Analysis PLUS Analysis of Leading Hot Melt Adhesives Companies AND COVID-19 Recovery Scenarios.
Rising demand for corrugated packaging and nonwoven hygiene products is expected to give hot melt adhesives a potential opportunity over the forecast period. Hot melt adhesives (HMAs) do not need drying or curing, unlike solvent based adhesives or water-based adhesives. They can be used in their molten state and can therefore be bonded directly after the order, giving them the distinct advantage of quicker processing times in different applications, including woodworking, electronic and medical assembly, manufacturing, textiles, and packaging.
New structural hot melts have been built in the last two decades that overcome some of the disadvantages and limitations of conventional hot melts. These modern adhesives have been developed to reduce production costs and increase the quality of manufacturing. Reactive urethanes and silicones are the younger classes of hot melts. These kinds of hot melts combine the benefits of typical hot melts with those of structural adhesives that are reactive. Upon cooling, they undergo a secondary moisture cure or are healed by ultraviolet radiation that allows the adhesive to crosslink, offering greater strength and flexibility and leading to more stable bonds.
Due to the rapidly expanding food & beverage and consumer electronics packaging sector and the increasing demand for nonwoven disposables, such as women's hygiene products and baby diapers, the market is expected to develop in coming years. The stringent regulations laid down by organisations such as the Registration, Evaluation, Authorisation and Restriction of Chemicals (REACH), and Environmental Protection Agency (EPA) forbid the use of solvent-based adhesives, thereby providing the market for hot melt adhesives (HMAs) with lucrative growth opportunities over the projected period.
Hot melt adhesives have faster strength & speed of bonding and are environmentally friendly. As a result of the COVID-19 pandemic, which has led to the shutdown of manufacturing operations, governments across the globe have imposed lockdowns in major economies. As the product demand from manufacturing, automotive, and packaging applications is likely to take a severe hit, this is likely to impede market growth. However, the gradual rise in demand for packaged food & beverages in 2020 has contributed to an upward trend in the packaging industry in terms of product demand.
The global hot melt adhesives industry is highly competitive in nature as large number of well-established manufacturers are operating in developed as well as developing economies. Some key players are Arkema, 3M, Avery Dennison Corporation, Beardow Adams, DOW, HB Fuller Company, Henkel AG & Co. KGaA, Jowat SE, Sika AG, and Tex Year Industries. Manufacturers operating in this industry are adopting mergers & acquisitions, production expansion, new product development, collaboration, agreement, research & development, and facility expansion in order to form strategies in order to increase their geographical reach and capture untapped potential in developing economies.
Companies Profiled in the Report
• Avery Dennison Corporation
• Beardow Adams
• HB Fuller Company
• Henkel AG & Co. KGaA
• Jowat SE
• Sika AG
• Tex Year Industries
Notes for Editors
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