Hot melt adhesives are also known as hot glue, and these are 100 percent formulation of thermoplastic adhesives. Hot glue sticks are available with different diameters and design. The growing application from several end use industries is the major driver for the growth of hot melt adhesives market. Hot melt adhesives offers superior properties such as versatility, resistance to water & moisture, and low cost make these adhesives as the ideal choice for many applications. Many industries are adopting the hot melt adhesives over solvent-based adhesives.
GROWING APPLICATION FROM END-USE INDUSTRIES INFLUENCE THE MARKET GLOBALLY
The hot melt adhesives market is mainly driven by the increasing demand from packaging solutions, nonwoven hygiene products, and consumer DIY. Hot melt adhesives are quite suitable for the manufacturing of packaging solution products, particularly food packaging and specialty packaging. Hot melt adhesives can also bond to several materials and surfaces such as ceramic, cardboard, metal, fabric, papers, and plastics, which further makes them a suitable option for DIY applications.
In 2020, Asia-Pacific accounted for the largest revenue share in the global hot melt adhesive market. The paper, paperboard, and packaging are considered as the largest end-user industry for the hot melt adhesives in this region. Its applications mainly include composite containers, carton side seam & closures, cups, tubes, bags, labels, specialty envelopes, films, disposables, foil laminates, and corrugated boards. Also, the growing adoption online purchasing of products is creating demand for the packaging industry and is providing opportunity for the hot melt adhesives market in APAC.
The key players providing hot melt adhesives are H.B. Fuller Company; Henkel AG & Company, KGaA; Arkema; 3M; Sika AG; Jowat SE; Hexcel Corporation; The Dow Chemical Company; Beardow Adams; Adtech; Gorilla Glue Company among others. These market players are highly focused towards the development of high quality and innovative product offerings.
