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Hot Melt Adhesives Market Trends

Report ID: GMI263
Published Date: Jul 2024
Report Format: PDF

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Hot Melt Adhesives Market Trends

The hot melt adhesives industry is witnessing strong demand growth driven by increasing collaborations among notable companies. Strategic dialogue and collaborations are essential to foster innovation, grow productivity, and expand market Access. Through partnerships, high-quality adhesive solutions can be developed for the needs of various industries. These networks also facilitate pooling for larger projects and market expansion programs, allowing companies to enter new geographies and cater to larger customer bases.

Furthermore, joint efforts are often accompanied by globalization and greater emphasis on environmental responsibility, coinciding with eco-friendly and sustainable HMA products. When leading companies work together, they can also better address common industry challenges, such as raw material fluctuations and complex regulations. Consequently, these collaborations contribute to the growth of the HMA market.

Citing an instance, in March 2023, Pidilite Industries, a manufacturer of adhesives, coatings, and installation chemicals, partnered with Jowat SE, the world-renowned German supplier of industrial adhesives. With this partnership, Pidilite will now offer exclusively locally made Jowat Hot Melt to Indian customers.

Authors: Kunal Ahuja, Kiran Pulidindi

Frequently Asked Questions (FAQ) :

Global industry size for hot melt adhesives was valued at USD 13.8 billion in 2023 and is anticipated to register 9% CAGR between 2024 and 2032, driven by intensifying product usage across various industries and growing adhesives market demand.

The EVA segment in the hot melt adhesives market will register 9.4% CAGR through 2032 due to their excellent coating properties and resistance to temperature changes, benefiting packaging and e-commerce.

Asia Pacific market is expected to reach USD 11 billion by 2032 due to the increasing disposable incomes and changing lifestyles.

Henkel AG & Co, KgaA, Arkema Group, HB Fuller, Ashland, Inc., Sika AG, 3M, Jowat Klebstoffe, Palmetto Adhesives Company, Dow Chemical Company, Avery Dennison Corporation, Applied Adhesives, Power Adhesives Ltd, and Huntsman Corporation, among others.