Hot Melt Adhesives Market Analysis Industry

Hot Melt
Adhesives Market Analysis, Industry Size, Share, Trends and Forecast 2023 –
2032

The global hot melt adhesives market is anticipated to
record momentous growth by the end of 2032, driven by supporting government
norms regarding the use of eco-friendly products. This will particularly fuel
the demand for hot melt adhesives that comprise of low VOC content. Countries
across Europe & North America are implementing strict emission and
pollution norms to limit the impacts of climate change on the environment.

Increasing application in the footwear, packaging, electronics,
and automotive sectors will complement the demand for advanced adhesives in the
years to come.

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Furthermore, strong government spending and new business
expansion efforts across several industries will generate lucrative
opportunities for hot melt adhesive manufacturers. The rise in online shopping
trends has pushed the need for shipping labels, tapes, and canton sealing.

Meanwhile new technological advancements and rapid
development in the field of consumer electronics will boost the demand for durable
packaging solutions.

The hot melt adhesives market is bifurcated into segments
such as product, application, and region.

Based on the product, the market is classified into ethylene
vinyl acetate (EVA), polyurethane (PU), amorphous poly-alpha-olefin (AMOP),
styrenic block copolymer (SBC), metallocene polyolefins (MPO), polyamide (PA),
and polyester. The metallocene polyolefins (MPO) segment was valued at over USD
2.35 billion in 2022.

These adhesives are widely used in packaging applications
for carton closing, shoe box forming, tray sealing, and gift box assembly.
Advancements in product design and a growing emphasis on safe, reliable, and
durable packaging should influence the demand for MPO hot melt adhesives.

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The market size from disposable applications is estimated to
surpass USD 5.5 billion by the year 2032. Hot melt adhesives are used to
manufacture various types of disposable hygienic products such as feminine care
products, baby diapers, and adult incontinence supplies. These products require
the need for a high degree of adhesion to ensure adequate performance. Hot melt
adhesives are applied on these products in stripes or spray patterns and are
likely to record high demand over the forecast period.

Based on the regional share, the LATAM hot melt adhesives
market is estimated to witness over 6.5% CAGR between 2023-2032. Expanding
local automotive manufacturing initiatives and rising vehicle sales across
countries like Brazil, Mexico and Argentina will boost product deployment. Many
automotive companies are shifting operations to Latin America in an effort to
benefit from flexible regulations and low labor costs.

Soaring sales of electric vehicles across the region will
further support the need for advanced adhesive solutions. Moreover, the introduction
of foreign players in the automobile sector and the setting up of new
manufacturing plants will also complement the regional market outlook.

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