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Hot Melt Adhesives Market - 6% Growth Forecast In The Near Future
Mar 05, 2018

From 2017 to 2024 Hot Melt Adhesives (HMA) Market is gaining considerable traction with growing need for high standard performance adhesives across various industries. HMA also known as hot glue, is a form of thermoplastic adhesive that provides optimal hold & superior manufacturing flexibility. In industrial applications, HMA provide several advantages over waterborne or solvent based adhesives. Some of the expectational benefits offered by HMA including longer shelf life, quick drying, increase throughput in production, and easy disposal have significantly driven the product demand. 


As of 2015, HMA industry stood at USD 5.5 billion and is projected to surpass USD 10 billion by 2024. According to Global Market Insights, Inc., the global hot melt adhesives market is foreseen to record an annual growth rate of more than 6% over the period of 2016-2024.


Hot melt adhesive market consumption from packaging applications should witness significant gains to surpass USD 3 billion by 2024. They are mainly used in food & beverages packaging & labelling as they have good adhesion and high intact properties.


Increasing emphasis on bio-based hot melt adhesives market development mainly for packaging applications should drive industry growth. It does not contain any hazardous materials along with favourable government guidelines, thereby making it suitable for food & beverage packaging applications.


Hot melt adhesives market will continue to expand at a rapid pace, as these adhesives address the ever-growing environmental concerns. The usage of HMA are favored by regulatory bodies as they are categorized as eco-friendly, VOC free, and safe thermoplastics suitable for storage, transportation, and production. The global hot melt adhesives industry is gaining high prominence in North America and Europe, as the product usage has received a green signal from the regulatory bodies such as REACH and EPA. With almost all the industries seeking more smart and competent solutions to manufacture and package goods, boost line speed, and reduce operational time, the HMA industry is witnessing a plethora of application scopes across myriad industries.


Packaging represents a major end-use market for hot melt adhesives. Hot melt adhesives market share from the packaging application is expected to exceed USD 3 billion by 2024 and attain a CAGR of 5.5% over 2016-2024. The hot glues based with styrene block copolymer and amorphous poly-alpha olefins are widely used in hygiene products including adult incontinence, baby diapers, and female hygiene products. 

Apart from this, HMA also finds usage in footwear, furniture, textiles, automobiles, and pressure sensitive products.


Hot melt adhesives industry size from disposable applications is projected to surpass a valuation of USD 1.6 million by 2024.  


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