Hot Melt Adhesives Market worth $11.4 billion by 2027 - Exclusive Report by MarketsandMarkets™
CHICAGO, April 25, 2022 /PRNewswire/ -- According to the new market research report "Hot Melt Adhesives (HMA) Market by Type (EVA, SBC, MPO, APAO, PA, PO, PU), Application (Packaging Solutions, Nonwoven Hygiene Products, Furniture & Woodwork, Bookbinding), and Region (APAC, Europe, North America, RoW) - Global Forecast to 2027", published by MarketsandMarkets™, the market is projected to grow from USD 9.1 Billion in 2022 to USD 11.4 Billion by 2027, at a CAGR of 4.8% between 2022 and 2027. Growing demand for HMA from packaging, and nonwoven hygiene products application in Asia Pacific and South America provide opportunities to increase the market.
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Metallocene PO (mPO) is the fastest-growing segment of the overall HMA market.
Metallocene is a compound that typically consists of two cyclopentadienyl anions. mPO-based HMA is clear, odorless, and has high thermal stability. mPO-based HMA is a fast-setting adhesive and is suitable for colorless applications. It can be used to manufacture high-quality laminates by direct contact or spray application technique. mPO is used in case and carton sealing, food & beverage packaging, nonwoven hygiene products, woodworking, film laminating, graphic arts, and bottle labeling. mPO-based HMA have lower production cost in comparison to EVA.
China is the largest HMA market in Asia Pacific during the forecast period.
China's standard of living and purchasing power are increasing rapidly, making the appliances industry strong. This encourages the development of strong foreign and Chinese brands. According to Statista, the revenue generated from the appliances industry is projected to witness an annual growth rate of 9.4% between 2020 and 2024, amounting to USD 70,388 million by 2024. This growth of the appliances industry in the country is increasing the use of HMA.
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The key players profiled in the HMA market report are Henkel AG & Co. KGaA (Germany), H.B. Fuller (US), Jowat SE (Germany), 3M (US), and Arkema (Bostik) (France).
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Browse Adjacent Markets: Chemicals Market Research Reports & Consulting
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