Hot Melt Adhesives (HMA) Market by Type (EVA, SBC, MPO, APAO, Polyamides, Polyolefins, Polyurethanes), Application (Packaging Solutions, Nonwoven Hygiene Products, Furniture & Woodwork, Bookbinding), and Region - Global Forecast to 2022
“Growing use of Hot Melt Adhesives (HMAs) in packaging solutions and nonwoven hygiene products is a prime factor in the growth of the HMA market”
The Hot Melt Adhesives (HMA) market is projected to grow from an estimated USD 6.92 billion in 2017 to USD 9.46 billion by 2022, at a CAGR of 6.5%. The growth of the market is due to the increasing HMA applications in packaging solutions and nonwoven hygiene products.
EVA is the largest resin type segment in the HMA market
Ethylene-Vinyl Acetate (EVA) is the largest resin type segment in the HMA market, as it offers greater flexibility and has the ability to withstand adverse climatic conditions. SBC is another major segment, which is expected to grow significantly during the forecast period. Other product types of HMA include mPO and PU, which are expected to grow at moderate rates in the coming years. mPO is projected to be the fastest-growing type segment in the HMA market during the forecast period because of its increasing application in nonwoven hygiene products. PU-based HMAs find major applications in shoemaking, paper packaging, bookbinding, automotive, and specialty bag manufacturing industries.
Rising demand in emerging markets such as the Asia-Pacific and South America is the major driver for the HMA market.
The HMA market in the Asia-Pacific region is growing at the highest CAGR, in terms of value and volume. High economic growth rate, growing manufacturing industries, cheap labor, increasing foreign investments, and rise in the applications of HMA across the packaging solutions, nonwoven hygiene products, and furniture & woodwork industries are some of the major factors expected to fuel the growth of the market. Countries such as China, India, Thailand, and Malaysia are expected to drive the growth of the market in the Asia-Pacific region.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted.
The breakdown of primary interviews is given below.
• By Company Type: Tier 1 – 67%, Tier 2 – 8%, and Tier 3 – 25%
• By Designation: C level – 25%, D level – 42%, and Others – 33%
• By Region: North America – 17%, Europe – 42%, Asia-Pacific – 25%, Middle East & Africa – 8%, and South America – 8%
The key companies profiled in this report are, 3M Company (U.S.), Arkema (France), Dow Corning (U.S.), H.B. Fuller (U.S.), Henkel AG & Company KGaA (Germany), Jowat SE (Germany), and Sika AG (Switzerland)
The market is segmented based on resin type, application, and region. This report covers the HMA market, in terms of value and volume, and forecasts its market size till 2022. The report also provides company profiles and competitive strategies adopted by the key players in the global HMA market.
Reasons to Buy the Report
The report will help the market leaders/new entrants in this market in the following ways:
1. This report segments the HMA market comprehensively and provides the closest approximations of the revenues for the overall market and the subsegments across different verticals and regions.
2. It will help stakeholders understand the pulse of the market and provide them information on key market drivers, restraints, challenges, and opportunities.
3. It will help stakeholders understand competitors and gain more insights to better their positions in the business. The competitive landscape section includes new product developments, partnerships, and mergers & acquisitions.