Hot melt adhesive (HMA), also known as hot glue, is 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 contain no solvents, and no water. Hot melt adhesives can also be applied by dipping or spraying. Holt melt adhesives maintain their thickness during solidifying but solvent based adhesives may lose up to 50-70% of thickness during drying.
Rising demand for hot melt adhesive from packaging industry is expected to boost growth of the global hot melt adhesives market
Strong demand for hot melt adhesives in construction and packaging industry is major factor driving growth of the global hot melt adhesives market. In addition, use of hot melt adhesives in automotive industry for endpoint fixing, and increasing demand for hot melt adhesives in pressure sensitive industries are other factors expected to fuel growth of the global hot melt adhesives market over the forecast period. Also, hot melt adhesives can bond with non-porous materials such as glass, metal, and plastics which has increased its demand in market, and increasing adoption of hot melt adhesives in end use application such as leather, labelling bottle, and woodworking, which is another factor expected to drive growth of the global hot melt adhesives market over the forecast period.
However, hot melt adhesives are sensitive to higher temperature which loses bond strength at higher temperature is a key factor restraining growth of the global hot melt adhesives market. Furthermore, compliance with strict regulations in developed countries is expected to hamper growth of the global hot melt adhesives market over the forecast period.
The global hot melt adhesives market report has been segmented on the basis of type, end user, and region. On the basis of region, the global hot melt adhesives market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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North America is expected to account for highest market share in terms of revenue as compared to other regions. This can be attributed to increasing demand for packaging and disposable hygiene products and presence of several market players in the region. Europe accounts for the second-highest revenue share contribution in the global hot melt adhesives market owing to increasing adoption of hot melt adhesives in automotive, defence, and other industrial sectors followed by markets in Asia Pacific, Latin America, and Middle East & Africa respectively. In addition, the market in Asia Pacific is projected to witness fastest growth in terms of revenue, owing to the factors such as rising demand from end use industries for hot melt adhesives in emerging economics such as China, and India.
Prominent players in the global hot melt adhesives market include, Toyobo Co., Ltd., Sika AG, Henkel AG & Company, The 3M Company, American Chemicals Inc., Worthen Industries Inc., Ashland Inc., DOW Corning Corporation, Evans Adhesives Corporation Limited, and H.B. Fuller Company