According to Fortune Business Insights the global hot melt adhesives market size was valued at USD 7.49 billion in 2023 and is projected to grow from USD 7.89 billion in 2024 to USD 11.76 billion by 2032, exhibiting a CAGR of 5.2% during the forecast period. The rising demand for improved and strong products and extensive adoption of online shopping may foster the market development. Fortune Business Insights™ presents this information in its report titled “Hot Melt Adhesives Market, 2025-2032.”
Hot melt adhesives (HMAs) are polymer-based thermoplastic adhesives widely used in mechanical anchorage. The global market is set to grow significantly, driven by rising demand from industries like automotive, packaging, furniture, and non-woven/hygiene. Increased awareness of hygiene products, supportive government policies, and investments in advanced HMAs further boost market expansion.
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Segmentation:
By raw material, the market is classified into ethylene vinyl acetate, polyolefins, styrenic block copolymers (SBC), polyurethane (PU), polyester, and others. Based on application, it is classified into packaging, assembly, woodworking, transportation, building & construction, footwear & leather, nonwovens, bookbinding, and others. Regionally, it is classified into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Report Coverage:
The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market's key players.
Drivers and Restraints:
Rising Demand for Hot Melt Adhesives Over Alternative Products to Foster Industry Growth
Hot melt adhesives are made from polymer-based thermoplastics and are used extensively in mechanical anchorage. The rising demand for improved and advanced products is expected to propel the demand for the product. Further, the rising awareness regarding its superiority over solvent adhesives is expected to enhance the demand for the product. Further, the rising adoption of polyurethane adhesives from the end-use industry is expected to bolster adoption. These factors may drive the hot melt adhesives market growth.
However, the low thermal resistance of the adhesives may hinder the market’s progress in the coming years.
Regional Insights:
Rapid Development of the Furniture and Building Industries to Foster Growth in Asia Pacific
Asia Pacific is expected to dominate the hot melt adhesives market share due to the development in the furniture and building industries. The market in Asia Pacific stood at USD 3.11 billion in 2021 and is expected to grow positively in the coming years. Furthermore, the rising demand for nonwoven goods may propel market progress.
In North America, the presence of several major companies such as Owens-Illinois, International Paper, and Ball Company may propel the product demand. This factor may propel the industry's growth in the upcoming years.
In South America, the presence of a robust manufacturing sector is expected to enhance the product demand for hot melt adhesives. This factor may propel the market development.
Competitive Landscape:
Major Companies Acquire Key Players to Enhance Brand Image
The major players operating in the market acquire major players to expand their resources and enhance their brand image. For example, H.B. Fuller Company completed the acquisition of Apollo in January 2022. It is a maker of primers, coatings, and adhesives for construction, industrial, and roofing sectors. This development may boost the company’s share and boost crucial constructions in Europe and U.K. This acquisition may also enhance the company’s share. Further, companies incorporate acquisitions, mergers, collaborations, partnerships, and expansions to boost their market position.
Key Industry Development:
- April 2021: Sika acquired Hamatite, the adhesives business of the Yokohama Rubber Co., Ltd. Hamatite is one of the market leaders in Japan, offering adhesives and sealants to the automotive and construction industries.
List of Key Players Profiled in the Report:
- Exxon Mobil Corporation (U.S.)
- Dow Inc. (U.S.)
- 3M (U.S.)
- Henkel AG & Co. KGaA (Germany)
- MELER (Navarra)
- Sanyhot Adhesivos, S.A. (Spain)
- TEX YEAR INDUSTRIES INC. (Taiwan)
- B. Fuller Company (U.S.)
- Arkema Group (U.S.)
- Sika AG (Switzerland)
- Bostik (U.S.)
- Jowat SE (U.S.)
- AVERY DENNISON CORPORATION (U.S.)
- LyondellBasell Industries Holdings B.V. (Netherlands)
- Embagrap SA (Spain)
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