Hot melt adhesives or HMA, often known as hot glue, are a type of polymer-based thermoplastic adhesive. They are mostly sold in solid cylindrical sticks of various diameters. They are intended for use with a hot glue gun in industrial applications such as packaging, manufacturing, and automotive. Attributed to their many uses, such as the installation of flooring, carpets, ceramic tiles, and glassware, hot melt adhesives are in high demand. When compared to staples and nails, the use of HMA improves the aesthetic appearance of the floor. According to Fortune Business Insights™, the hot melt adhesives market size was valued at USD 6,745.2 million in 2019 and is anticipated to reach USD 9,702.2 million by 2027 at a CAGR of 5.3% during the 2020-2027 period.
The hot melt adhesives industry is expected to be driven by increasing demand for novel and upgraded goods from a variety of end-use sectors, increased awareness of non-woven products, investment in R&D activities, and regulatory guidelines. Furthermore, the use of hot glue adhesives in the packaging industry for a variety of applications, such as container and box sealing, for consumer packaging is fueling the product demand.
Cumulative Impact of COVID-19 on the Adhesives Industry
COVID-19 is a unique global public health calamity that has impacted virtually every industry, and its long-term effects are expected to have an impact on the industry growth during the forecast period. Lockdowns were implemented to prevent the coronavirus from spreading to neighboring countries through trade and travel. The impact of the pandemic on adhesives and sealants varies depending on the industry. The pandemic’s influence on fast-growing categories, such as food packaging, medicinal, and sanitation items, has been amplified. Manufacturers are expanding their production units to take advantage of the low manufacturing costs during the pandemic.
Fortune Business Insights™ Presents the Top 5 Key Players in the Market for Hot Melt Adhesives:
- Exxon Mobil Corporation (Texas, U.S.)
ExxonMobil Corporation is a leader in the energy and chemical industries. It is a multinational oil & gas company headquartered in Irving, Texas. Berry Global, a major manufacturer of innovative packing and engineered goods, has achieved the first commercial sale of certified polymers. These polymers will be used to make food packaging containers for the corporation. With the support of Exxtend technology for improved recycling of plastic waste, the company plans to expand its manufacturing capacities around the world to better serve its customers.
- Dow Inc. (Michigan, U.S.)
Dow Chemical Company, Midland Plant is a chemical manufacturing facility in Midland, Michigan, Michigan Operations, located at 1790 Building, Washington Street. Dow Michigan Operations, Salzburg Road Landfill is a hazardous waste landfill in Midland, Michigan, located at 2314 West Salzburg Road. Dow Inc. is a chemical and plastics manufacturing corporation based in the U.S. Plastics, synthetics, chemicals, and textiles are among its main products. Through its materials scientific knowledge and partnership with several partners, the company contributes to the long-term sustainability program.
- Henkel AG & Co. KGaA (Düsseldorf, Germany)
In three business sectors, Henkel operates with leading innovations, brands, and technologies such as adhesive technologies, beauty care, and laundry and home care. Due to strong brands, ideas, and technology, the company maintains leadership positions in both the industrial and consumer sectors with its three business areas.
- 3M (Minnesota, U.S.)
3M is a multinational firm based in the U.S. that operates in the domains of industry, worker safety, consumer goods, and healthcare. 3M, which produces over 60,000 items under various names, had total revenues of USD 32.2 billion in 2020 and was placed 96th on the Fortune 500 list of the top U.S. firms by total revenue.
- Arkema Group (Pennsylvania, U.S.)
Arkema has divided its activities into three business divisions since selling its vinyl product lines, Industrial Specialties, High Performance Materials, and Coating Solutions in July 2012. Each of these category’s accounts for a third of Arkema’s total revenue. Chemical intermediates, such as fluorochemicals (for refrigeration, air conditioning, blowing agent for insulating foam), thiochemicals (for animal nutrition, gas natural odorant), and hydrogen peroxide, are produced by the Industrial Specialties segment (pulp and textile bleaching, chemical synthesis, water treatment) and PMMA (or acrylic glass for furniture, automotive applications, and noise barriers).
Growing Adoption of Bio-Based Adhesives in Future
The use of bio-based hot melt adhesives is expected to grow in the future. Packaging is utilized for a staggeringly large percentage of all industrial products, whether for storage and transit stability or aesthetic purposes. Hot melt adhesives are widely utilized in the paper, board, and packaging sectors. Carton closure, sealing, and pallet stabilization are the most prevalent applications. Corrugated box construction and printed sheet lamination, packaging materials for a variety of consumer products, and the production of enormous industrial tubes and cores use hot melt adhesives. The increase in demand from packaging and non-woven products applications around the world is one of the key factors driving the growth of the hot melt adhesives industry.
Related Posts:
Plastic Compounding Market
Liquid Waste Management Market
Protective Clothing Market
