The “Global Hot Melt Adhesives Market Forecast t2028 – COVID-19 Impact and Global Analysis – by Type (Ethylene Vinyl Acetate, Polyolefins, Polyamides, Polyurethanes, Styrene Block Copolymers, and Others); Product Type (Glue Sticks, Glue Slugs, and Others); and Application (Packaging, Construction, Automotive, Furniture, Footwear, Electronics, and Others). The scope of study involves understanding the factors responsible for the growth of the hot melt adhesives market along with estimates and forecast of the revenue and analysis of market share, and it alshighlights the significant market players and their key developments.
The global hot melt adhesives market was valued at US$ 7473.37 million in 2020 and is projected treach US$ 10982.38 million by 2028; it is expected tgrow at a CAGR of 5.1% during 2020–2028.
Hot melt adhesives are alsknown as hot glue, and these are 100% 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 offer superior properties such as versatility, resistance twater & moisture, and low cost make these adhesives an ideal choice for many applications. Many industries are adopting the hot melt adhesives over solvent-based adhesives.
Based on product type, the hot melt adhesives market is segmented intglue sticks, glue slugs, and others product type. The glue sticks segment accounted for the largest market share in 2020 and is expected tregister the highest CAGR in the market during the forecast period. Hot melt glue sticks are cylindrical sticks with varied diameters, and they are used with a hot glue gun. These sticks are in solid form at room temperature. These products are designed in both high and low temperature glue guns variants. A few hot melt stick adhesives have been created tdeliver longer open time sthat they can be sprayed on wider areas for bonding. Hot melt glue stick adhesives generate minimal waste and have relatively small environmental impact, which makes them suitable for a wide range of applications in food packaging, carton-sealing, printing, publishing, textile manufacturing, electronics, woodworking, and building and construction industries.
Geographically, the global hot melt adhesives market is segmented intfive regions—North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SAM). Asia Pacific held the largest market share in 2020, followed by North America and Europe. Asia Pacific is further expected tregister the highest CAGR during the forecast period. Asia Pacific has the presence of major market players such as H.B. Fuller Company, Henkel AG & Co. KGaA, Arkema, and many others.
By Product Type
- Glue Sticks
- Glue Slugs
- Others Product Type
By Type
- Ethylene Vinyl Acetate
- Polyolefins
- Polyamides
- Polyurethanes
- Styrene Block Copolymers
- Other Type
By Distribution Channel
- Packaging
- Construction
- Automotive
- Furniture
- Footwear
- Electronics
- Others
By Geography
- North America
- Europe
- Germany
- France
- Italy
- UK
- Russia
- Rest of Europe
- Asia Pacific (APAC)
- Australia
- China
- India
- Japan
- South Korea
- Rest of APAC
- Middle East & Africa (MEA)
- South Africa
- Saudi Arabia
- UAE
- Rest of MEA
- South America
- Brazil
- Argentina
- Rest of South America
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