The global hot melt adhesives market size is expected to reach US$ 18.87 Bn by 2031, from US$ 11.18 Bn in 2023, exhibiting a compound annual growth rate (CAGR) of 6.8% during the forecast period.
Hot melt adhesive is an adhesive that is used across packaging, automotive, nonwovens, product assembly, tapes and labels, woodworking, paper bonding, and electronics sectors due to its adhesion properties. It is a thermoplastic polymer containing more than one polymer and additives such as pigments, resins, and stabilizers.
Global Hot Melt Adhesives Market Trends:
Innovation of bio-based hot melt adhesives
The innovation of bio-based hot melt adhesives is having a significant influence on the global hot melt adhesives market. As sustainability and environmental protection become increasingly important, companies are developing more eco-friendly and biologically derived hot melt adhesive options.
Bio-based hot melt adhesives are made from renewable plant-based resources rather than petroleum sources. Examples of plant-based feedstocks used include vegetable oils, starch, and cellulose. By utilizing agricultural waste or purpose-grown crops, these bio-based options allow manufacturers to reduce reliance on fossil fuels and create more sustainable products. Some early bio-based products only contained small percentages of renewable content, but technology advances have made it possible to formulate hot melts with over 90% bio-based components.
Consolidation activities among key players
The global hot melt adhesives market has been witnessing increasing consolidation activities among key players in recent years. Major companies have been acquiring smaller firms to expand their product portfolio and geographic reach. For instance, Henkel AG & Co. KGaA, commonly known as Henkel, a Germany-based multinational chemical and consumer goods company, acquired Duro-Last in 2021 to strengthen its position in single-ply roofing membrane adhesives market in North America. Similarly, Arkema S.A., a publicly listed, multi-national manufacturer of specialty materials, acquired Fixatti in 2022 to complement its Bostik business in hot melt adhesives for packaging applications in Europe.
Figure 2. Global Hot Melt Adhesives Market Share (%), By Application, 2023
Market- Trends
Figure 1. Global Hot Melt Adhesives Market Share (%), By Region, 2023
Hot Melt Adhesives Market Report Snapshots
Joining thousands of companies around the world committed to making the Excellent Business Solutions.
View All Our Clients