Market Size of Hot-melt Adhesives Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 9.06 Billion |
| Market Size (2029) | USD 12.19 Billion |
| CAGR (2024 - 2029) | > 6.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Hot-melt Adhesives Market Analysis
The Hot-melt Adhesives Market size is estimated at USD 9.06 billion in 2024, and is expected to reach USD 12.19 billion by 2029, growing at a CAGR of greater than 6% during the forecast period (2024-2029).
COVID-19 hampered the hot melt adhesive market. Various end-use industries for hot melt adhesives, such as automotive manufacturing, construction, and nonwoven hygiene products, experienced slowdowns or shutdowns in production due to government-mandated restrictions, reduced consumer demand, and supply chain disruptions. With the easing of lockdown measures and restrictions, many industries have resumed operations, leading to increased demand for hot melt adhesives.
• Increasing demand for hot melt adhesives from the packaging industry, rising demand from the construction sector, and increased adoption of hot melt adhesives in nonwoven hygiene products are expected to drive the market.
• However, volatility in raw material prices is expected to hamper the growth of the hot melt adhesive market.
• Expansion in automotive manufacturing and the advancements in construction technologies are expected to provide opportunities in the upcoming period.
• Due to rapidly growing economies like India, Japan, and China, Asia-Pacific is expected to emerge as a dominant market in the coming years.
Hot-melt Adhesives Industry Segmentation
Hot-melt adhesives are generally composed of 100% solid components. The hot melts are sold in a solid state at room temperature and are activated by heating beyond their softening point, which is usually between 50 and 160 degrees. After melting, an adhesive may be applied to the substrate in a liquid state. The hot melt coats the substrate, penetrating the surface, and then solidifies to ensure uniformness. It takes very little time for this setting and cooling process.
The hot-melt adhesives market is segmented by resin type, end-user industry, and geography. By resin type, the market is segmented into ethylene vinyl acetate, styrene-butadiene copolymers, thermoplastic polyurethane, and other resin types (polyolefin, polyamide). Based on the end-user industry, the market is segmented into building and construction, paper, board, and packaging, woodworking and joinery, transportation, footwear and leather, healthcare, electrical and electronic appliances, and other end-user industries. The report also covers the market sizes and forecasts for the hot-melt adhesives market in 27 countries across major regions. The market sizing and forecasts were made for each segment based on value (USD).
| Resin Type | |
| Ethylene Vinyl Acetate | |
| Styrenic Block Co-polymers | |
| Thermoplastic Polyurethane | |
| Other Resin Types (Polyolefin, polyamide) |
| End-user Industry | |
| Building and Construction | |
| Paper, Board, and Packaging | |
| Woodworking and Joinery | |
| Automotive and Transportation | |
| Footwear and Leather | |
| Healthcare | |
| Electrical and Electronic Appliances | |
| Other End-user Industries |
| Geography | ||||||||||||
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Hot-melt Adhesives Market Size Summary
The hot melt adhesives market is poised for significant growth, driven by increasing demand from various sectors such as packaging, construction, and nonwoven hygiene products. The packaging industry, in particular, stands out as a major consumer, utilizing these adhesives for bonding materials like paperboard and plastic films in applications such as carton sealing and labeling. This demand is further fueled by the rising consumption of packaged goods, especially in rapidly growing economies like India and China. The construction sector also contributes to market expansion, with hot melt adhesives being essential for bonding materials in infrastructure projects. However, the market faces challenges due to volatility in raw material prices, which could impede growth.
The Asia-Pacific region is expected to emerge as a dominant market for hot melt adhesives, supported by rapid industrialization and infrastructure development. Countries like India and China are witnessing substantial investments in infrastructure, which boosts the demand for these adhesives in construction and other industries. The region's growth is further bolstered by advancements in automotive manufacturing and construction technologies. Major players in the market, such as 3M, Jowat SE, and Henkel Corporation, are actively expanding their operations and developing innovative solutions to meet the growing demand. Despite the fragmented nature of the market, these developments indicate a promising outlook for the hot melt adhesives industry during the forecast period.
Hot-melt Adhesives Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Drivers
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1.1.1 Increasing Demand from Packaging Industry
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1.1.2 Rising Demand from Construction Sector
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1.1.3 Other Drivers
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1.2 Restraints
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1.2.1 Volatility in Raw Material Prices
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1.3 Industry Value Chain Analysis
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Consumers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Degree of Competition
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2. MARKET SEGMENTATION (Market Size by Value)
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2.1 Resin Type
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2.1.1 Ethylene Vinyl Acetate
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2.1.2 Styrenic Block Co-polymers
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2.1.3 Thermoplastic Polyurethane
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2.1.4 Other Resin Types (Polyolefin, polyamide)
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2.2 End-user Industry
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2.2.1 Building and Construction
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2.2.2 Paper, Board, and Packaging
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2.2.3 Woodworking and Joinery
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2.2.4 Automotive and Transportation
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2.2.5 Footwear and Leather
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2.2.6 Healthcare
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2.2.7 Electrical and Electronic Appliances
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2.2.8 Other End-user Industries
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2.3 Geography
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2.3.1 Asia-Pacific
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2.3.1.1 China
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2.3.1.2 India
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2.3.1.3 Japan
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2.3.1.4 South Korea
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2.3.1.5 Malaysia
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2.3.1.6 Thailand
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2.3.1.7 Indonesia
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2.3.1.8 Vietnam
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2.3.1.9 ASEAN Countries
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2.3.1.10 Rest of Asia-Pacific
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2.3.2 North America
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2.3.2.1 United States
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2.3.2.2 Canada
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2.3.2.3 Mexico
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2.3.3 Europe
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2.3.3.1 Germany
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2.3.3.2 United Kingdom
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2.3.3.3 France
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2.3.3.4 Italy
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2.3.3.5 Turkey
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2.3.3.6 Spain
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2.3.3.7 Russia
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2.3.3.8 NORDIC
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2.3.3.9 Rest of Europe
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2.3.4 South America
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2.3.4.1 Brazil
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2.3.4.2 Argentina
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2.3.4.3 Colombia
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2.3.4.4 Rest of South America
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2.3.5 Middle East and Africa
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2.3.5.1 Saudi Arabia
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2.3.5.2 South Africa
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2.3.5.3 Nigeria
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2.3.5.4 Egypt
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2.3.5.5 Qatar
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2.3.5.6 UAE
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2.3.5.7 Rest of Middle East and Africa
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Hot-melt Adhesives Market Size FAQs
How big is the Hot-melt Adhesives Market?
The Hot-melt Adhesives Market size is expected to reach USD 9.06 billion in 2024 and grow at a CAGR of greater than 6% to reach USD 12.19 billion by 2029.
What is the current Hot-melt Adhesives Market size?
In 2024, the Hot-melt Adhesives Market size is expected to reach USD 9.06 billion.
