COVID19: HOT MELT ADHESIVES (HMA) MARKET TO REACH USD 11.9 BILLION BY 2027 | CAGR 5.3% — FORENCIS RESEARCH
Global Hot Melt Adhesives (HMA) Market: Key Highlights
- According to the new market research report “Hot Melt Adhesives (HMA) Market by Type (Ethylene Vinyl Acetate (EVA), Styrenic Block Copolymers (SBC), Metallocene Polyolefin (MPO), Amorphous Polyalphaolefins (APAO), Polyolefins, Polyamides, Polyurethane (PU)), by Application (Packaging Solutions, Nonwoven Hygiene Products, Furniture & Woodwork, Bookbinding), by Region (North America, Asia Pacific, Europe, Middle East & Africa, South America) — Global Forecast (2020 to 2027)”, the global Hot Melt Adhesives (HMA) market is estimated to reach USD 11.9 Billion by 2027 at a CAGR of around 5.3% during the review period.
- Hot melt adhesives are a form of thermoplastic adhesive that is commonly sold as solid cylindrical sticks of various diameters designed to be applied using a hot glue gun.
- Hot melt adhesives are solid at room temperature and can be softened, reshaped, and dispensed upon heating above their softening point
- They have excellent gap filling capabilities and bond a wide variety of porous and non-porous substrates including pre-painted steel and polyolefin plastics.
Global Hot Melt Adhesives (HMA) Market: Key Market Dynamics
- The increasing demand for hot melt adhesive for various household and industrial applications is expected to boost the global Hot Melt Adhesives (HMA) market.
- Thus, the booming packaging and nonwoven applications in Asia-pacific and South America region are expected to create an opportunity for key market players.
- However, fluctuations in raw material and low thermal resistance are act major restraining factors for the growth of the hot melt adhesives (HMA) market
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Global Hot Melt Adhesives (HMA) Market: Regional Overview
Asia-Pacific is expected to account for the largest share and fastest-growing market for hot melt adhesives market. This can be attributed to increased use in packaging solutions, nonwoven hygiene products, and consumer DIY applications. Moreover, Increasing consumer awareness regarding hygiene and the increasing demand for nonwoven hygiene products is contributing to the growing demand for this market in the Asia-Pacific Region.
The hot melt adhesives market in the Europe region is mainly driven by increased use of MA’s in automotive applications aids in reducing VOC emissions even under extreme heat conditions. In addition, awareness regarding emissions created by VOC is comparatively high in Europe as compared to other regions. The hot melt adhesives growth is also attributed towards shifting preferences from high VOC adhesives to advanced PO based hot melt adhesives with low VOC content.
Global Hot Melt Adhesives (HMA) Market: Key Players Overview
- 3M Company:
3M is a US-based multinational combination of multiple business companies engaged in the manufacturing the industrial, safety and consumer products. The company majorly operate through five business segments namely safety and industrial business, transportation and electronics business, health care business, consumer business. The Safety and Industrial segment consist of personal safety, industrial adhesives and tapes, abrasives, closure and masking systems, electrical markets, automotive aftermarket, and roofing granules
- Arkema SA:
Arkema SA engaged in the manufacturing of both industrial chemicals and performance products. The company operates through four business segments namely, advanced material, coating solutions, adhesives, and intermediates. Through these business segments, Arkema SA offers market solutions such as 3D printing, adhesives & sealants, automotive & transportation, building & construction, coating, paints, inks, composite & advanced materials, electronics & electricals, oil & gas, cooling & refrigeration and many others. Arkema SA has its strong presence globally sales over 55 countries with approximately 144 manufacturing sites, 6 research & development sites.
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