Hot Melt Adhesives Market Share, Size & Report 2023 – 2032
The global hot melt adhesives market is anticipated to record momentous growth by the end of 2032, driven by supporting government norms regarding the use of eco-friendly products. This will particularly fuel the demand for hot melt adhesives that comprise of low VOC content. Countries across Europe & North America are implementing strict emission and pollution norms to limit the impacts of climate change on the environment.
Increasing application in the footwear, packaging, electronics, and automotive sectors will complement the demand for advanced adhesives in the years to come.
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Furthermore, strong government spending and new business expansion efforts across several industries will generate lucrative opportunities for hot melt adhesive manufacturers. The rise in online shopping trends has pushed the need for shipping labels, tapes, and canton sealing.
Meanwhile new technological advancements and rapid development in the field of consumer electronics will boost the demand for durable packaging solutions.
The hot melt adhesives market is bifurcated into segments such as product, application, and region.
Based on the product, the market is classified into ethylene vinyl acetate (EVA), polyurethane (PU), amorphous poly-alpha-olefin (AMOP), styrenic block copolymer (SBC), metallocene polyolefins (MPO), polyamide (PA), and polyester. The metallocene polyolefins (MPO) segment was valued at over USD 2.35 billion in 2022.
These adhesives are widely used in packaging applications for carton closing, shoe box forming, tray sealing, and gift box assembly. Advancements in product design and a growing emphasis on safe, reliable, and durable packaging should influence the demand for MPO hot melt adhesives.
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The market size from disposable applications is estimated to surpass USD 5.5 billion by the year 2032. Hot melt adhesives are used to manufacture various types of disposable hygienic products such as feminine care products, baby diapers, and adult incontinence supplies. These products require the need for a high degree of adhesion to ensure adequate performance. Hot melt adhesives are applied on these products in stripes or spray patterns and are likely to record high demand over the forecast period.
Based on the regional share, the LATAM hot melt adhesives market is estimated to witness over 6.5% CAGR between 2023-2032. Expanding local automotive manufacturing initiatives and rising vehicle sales across countries like Brazil, Mexico and Argentina will boost product deployment. Many automotive companies are shifting operations to Latin America in an effort to benefit from flexible regulations and low labor costs.
Soaring sales of electric vehicles across the region will further support the need for advanced adhesive solutions. Moreover, the introduction of foreign players in the automobile sector and the setting up of new manufacturing plants will also complement the regional market outlook.
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