Research Nester’s recent market research analysis on “Hot Melt Adhesives Market: Global Demand Analysis & Opportunity Outlook 2035” delivers a detailed competitors analysis and a detailed overview of the global hot melt adhesives market in terms of market segmentation by type, product, application, and by region.
Growing DIY Activities to Promote Global Market Share of Hot Melt Adhesives
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The global hot melt adhesives market is estimated to grow majorly on account of the increased interest in DIY crafts and creativity and rising use of adhesives in the construction industry. During a pandemic, many people engaged in DIY crafts, and some are even looking for fresh ideas on social media. In general, the diycrafts hashtag has been the most popular for 2020, with a month-over-month increase this year. Hot melt adhesives are generally used for bonding in DIY crafts. Hot melt adhesives' distinct qualities make them ideal for bonding and sealing in a variety of construction applications, including flooring installation, panel bonding, window and door assembly, and others. As a result, growing construction activity will propel market expansion.
Besides this, the rising benefit of hot melt adhesives over normal adhesives, the rising use of packaging frozen industry, and the increasing popularity of bio-based adhesives are one of the major factors to augment the market growth. In frozen food, a special hot adhesive is employed to keep the package sealed even at freezing temperatures. It keeps moisture out and maintains frozen food quality. Moreover, hot melt adhesives are utilised in various sorts of food packaging, including cartons, sachets and pouches, tetra packs, and frozen meals. In addition to this, bio-based adhesives are becoming more used in the automotive sector for a variety of components such as door panels, dashboards, carpeting, and others.
Some of the major growth factors and challenges that are associated with the growth of the global hot melt adhesives market are:
Growth Drivers:
- Surging Need for Packaging in Food Industry
- Rising Popularity of DIY Crafts
Challenges:
Hot melt adhesives have poor mechanical properties are some of the major factors anticipated to hamper the global market size of hot melt adhesives. Hot melt adhesives possess poor capacity for bonding and do not perform well at high temperatures, making them unsuitable for a variety of applications. Because these adhesives are designed for specified temperatures, when they are subjected to extremely hot temperatures, the bond strength fails and the mechanical qualities deteriorate. On the other hand, the presence of other adhesives in the market and the incompatibility of hot melt adhesives with various substrates is likely to hinder the market growth. These adhesives do not blend well with substrate that has low surface energy, including polyethylene and polypropylene. Such surfaces require additional treatment to bond with hot melt adhesives, this adds complexity and cost to the overall bonding process.
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By product, the global hot melt adhesives market is segmented into ethylene-vinyl acetate and rubber. The ethylene-vinyl acetate segment is to garner the highest revenue by the end of 2035 by growing at a significant CAGR over the forecast period. Ethylene-vinyl acetate has several uses, including woodworking, papermaking, and the automotive industry which is boosting the segment growth. As ethylene vinyl acetate adhesive is largely used to provide strength and stiffness to paper packaging, the growing need for recycled packaging, particularly paper packaging, considerably contributes to sector growth. Paper packaging is the most important segment of the recycled materials market, accounting for over 65% of all recycled packaging.
