Hot melt adhesives (HMAs) are a major component in packaging, nonwovens, furniture, automotive, construction, bookbinding, and other applications. HMAs have multiple advantages over other adhesive formulations, such as faster drying and setting, cost-effectiveness, and low volatile organic compound (VOC) emissions. Because HMAs have longer shelf lives, minimal waste, simpler application methods and are cheaper than solvent- and water-based adhesives, their market growth will be significant during the next 7 years.

Since 2020, the COVID-19 pandemic has adversely affected the supply chain for the global HMAs market. The frequent unavailability of shipping facilities, shutdowns at manufacturing plants and warehousing facilities, and interrupted raw material supply have caused increases in labor prices as well as transportation and ocean freight costs. Additionally, the Russo-Ukrainian War is impacting HMAs’ raw material prices and supply chain. Considering these macroeconomic factors, HMA manufacturers must develop effective strategies to manage the timeliness, pricing, and quality of their inventories for the next few years.

Polyamides, ethyl vinyl acetates (EVAs), polyolefins, polyurethanes (Pus), rubber-based, and other (acrylic, silicone, and polyester chemistries combined) are the chemistry types covered in this study. The key applications considered are packaging, nonwovens, furniture and woodworking, construction, graphics and bookbinding, and other (medical, electrical and electronics, textiles, and footwear). Key adhesive types discussed are reactive and non-reactive, and pressure sensitive and non-pressure sensitive. Each of the end-use industry applications discussed includes regional volume consumption and regional revenue estimates, along with revenue and volume estimates by chemistry, reactiveness, and pressure sensitiveness. Market share for the top HMA manufacturers is discussed at a global level.

The global HMAs market is challenged by the rising need for innovative chemistries that will cater to customers’ unmet needs, such as bio-based adhesives, biodegradable formulations, de-bondable HMAs, and heat-resistant adhesives. Development of new, high-performance, and innovative chemistries and other factors combined will contribute to higher prices and thereby revenue growth.

China, India, Southeast Asia, and Latin America will witness high growth in the next 7 years, due to their large, fast-growing end-consumer populations that will support end-use industry growth.