Description
Global Hot Melt Packaging Adhesives Market Analysis and Forecast Report 2030
Product Overview
Hot melt adhesive popularly referred to as hot glue is a thermoplastic adhesive that is widely sold in a varied diameter, solid cylindrical shape. Hot melt adhesives are designed to melt in electric hot glue pistons. Hot melt adhesives have a special quick processing advantage over other adhesives. Hot melt adhesives require no drying after application, unlike water-based and solvent-based adhesives. Hot melt adhesives start bonding immediately after being applied to the material, as it instantly cools down to its solidification stage. Such fast solidification feature of hot melt adhesives is ideal for industrial applications requiring high-speed production line, bonding flexibility, wide gap filling, rapid green strength, and minimal shrinkage.
Market Highlights
Global Hot Melt Packaging Adhesives Market size was registered at USD XX billion in 2019 and is estimated to reach USD XX billion by 2030, registering a CAGR of XX% from 2020 to 2030. Packaging brings a distinctive appeal to every product and helps clients to differentiate between a specific product and other related products. Flexible packaging such as containers, pouches, and films can be used to package foods, drinks, pharmaceuticals, cosmetics, and personal care items. Hot melt adhesive use is gaining popularity because of its low processing costs and superior durability. The emergence of hi-tech machinery & equipment has enabled manufacturers to improve market innovations for hot melt adhesives and incorporate high-quality, environmentally friendly thermoplastics without the addition of solvents.
Global Hot Melt Packaging Adhesives Market: Segments
Global Hot Melt Packaging Adhesives Market is segmented based on product, application, and region.
By Product (in %), Global Hot Melt Packaging Adhesives Market, 2019
The EVA product segment is anticipated to register XX% of the market share during the forecasted period.
By product, the market can be segmented into EVA, Polyurethane, Rubber, Polyolefin, and Others. Replacement of conventional solvent-based adhesives due to the higher carbon footprint has made it possible to use hot melt adhesives products in various industrial formulations. Due to its economic viability and high performance, EVA resin is used as the primary raw material in hot melt processing. EVA provides superior heat and UV resistance, durability at low temperatures, and high resilience used in packaging, clothing, and electronics. The segment of ethylene-vinyl acetate is due to the product’s growing penetration in a wide range of industries along with supporting government regulations regarding the use of low VOC adhesives. EVA imparts plastic-like properties that ensure that wax effectively suits strength to polymeric coatings. Thus the product category is expected to dominate the segment.
By Application (in %), Global Hot Melt Packaging Adhesives Market, 2019
The flexible packaging and labeling segment accounted for XX% of the nation’s volume and revenue in 2019
The application segment can be classified into Flexible packaging, Folding cartons, boxes and cases, Labeling, and Others. The segment of flexible packaging is expected to record the highest volume CAGR over the forecast period. Adhesives used in flexible packaging are effective in a variety of processes including heat & cold seal, lidding, lamination, blister packaging, horizontal flow packaging, and fill packaging. The demand for flexible packaging can be attributed to the increasing demand from the food & beverage industry. Labeling is expected to record the fastest growth rate over the forecast period, in terms of revenue. Water-based adhesives, due to their environmentally friendly nature, are gaining prominence in the labeling segment. These are formulated for labeling and bonding applications using natural and soluble synthetic polymers. Clear labels have been replacing inks in the packaging industry when tagging containers. The growing demand for labels is expected to drive demand for the product in the coming years.
Global Hot Melt Packaging Adhesives Market Dynamics:
High demand for applicants and environmental concerns to increase the market growth
Packaging brings a distinctive appeal to every product and helps clients to differentiate between a specific product and other related products. Flexible packaging such as containers, pouches, and films can be used to package foods, drinks, pharmaceuticals, cosmetics, and personal care items. Hot melt adhesive use is gaining popularity because of its low processing costs and superior durability. The emergence of hi-tech machinery & equipment has enabled manufacturers to improve market innovations for hot melt adhesives and incorporate high-quality, environmentally friendly thermoplastics without the addition of solvents. The packaging industry requires long-lasting adhesive solutions to ensure that moisture and other environmental conditions keep the final product unaffected. Due to their exceptional strength, aesthetic appeal, and low VOC emissions, these adhesives are formulated in different packaging applications compared to other packaging solutions.
Limited applications and availability of substitutes to hinder the market growth
Global Hot Melt Packaging Adhesives Market: Regions
In terms of value and volume, APAC accounted for XX% of total market volume share in 2019
In terms of sales, Asia Pacific dominated the industry and is also projected to be the fastest-growing regional industry with the highest CAGR, rapidly growing packaging production base in the area is a prominent driver of market growth in the Asia Pacific. North America is also expected to have a high CAGR, as its packaging sector is likely to be a key driver of market growth due to the presence of some of the largest packaging manufacturers.
The region segment can be further divided into five major types including North America, Latin America, Europe, APAC, and MENA.
Global Hot Melt Packaging Adhesives Market is further segmented by region into:
North America Market Size, Share, Trends, Opportunities-o-Y Growth, CAGR – United States and Canada
Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil and Rest of Latin America
Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
APAC Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
MENA Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA
Global Hot Melt Packaging Adhesives Market: Competitive landscape
Continuous advancement in water-based inks, such as the production of pH stable and resin inks used is expected to provide market growth opportunities among the key players.
Global Hot Melt Packaging Adhesives Market: Key players
3M
Company Overview
Business Strategy
Key Product Offerings
Financial Performance
Key Performance Indicators
Risk Analysis
Recent Development
Regional Presence
SWOT Analysis
Sika
Beardow Adams
Jowat
Avery Dennison
Adtek Malaysia
Cherng Tay Technology
Star Bond
Makro Rekat Sekawa
Other prominent players
Global Hot Melt Packaging Adhesives Market report also contains analysis on:
Global Hot Melt Packaging Adhesives Market segments: –
By Product:
EVA
Polyurethane
Rubber
Polyolefin
Others
By Application
Flexible packaging
Folding cartons
Boxes and cases
Labeling
Others
Global Hot Melt Packaging Adhesives Market dynamics
Global Hot Melt Packaging Adhesives Market size
Supply & Demand
Current Trends/Issues/Challenges
Competition & Companies Involved in the Market
Value Chain of the Market
Market Drivers and Restraints
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