The global market for hot melt adhesives (HMAs) was valued at approximately USD 7.37 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 4.8% from 2021 to 2028. This growth is primarily driven by the expanding use of hot melt adhesives in various industries, particularly in the packaging sector. Hot melt adhesives are commonly used for tasks such as sealing boxes and cartons, especially for food and consumer products. This versatility has made them an essential component in packaging applications, contributing to the market's expansion.

Hot melt adhesives are highly adaptable, bonding effectively with a wide range of materials, including fabric, paper, ceramics, metals, cardboard, and plastics. This broad compatibility makes them ideal for a variety of applications, from industrial uses to personal DIY projects. While DIY trends are firmly established in developed markets such as North America and Europe, these trends are still growing in other parts of the world. Popular DIY uses for hot melt adhesives include crafting, packaging of general goods, and woodworking activities.

In the United States, there is a strong demand for hot melt adhesives, both as a major producer and consumer. The COVID-19 pandemic had a significant impact on the market, as lockdown measures led to a surge in e-commerce and delivery services. As a result, the need for packaging increased dramatically, and hot melt adhesives became crucial for securely sealing parcel boxes, further driving market growth.

Gather more insights about the market drivers, restrains and growth of the Hot Melt Adhesives Market

Regional Insights

Asia Pacific Hot Melt Adhesives Market Trends

Asia Pacific dominated the global hot melt adhesives market in terms of revenue, holding over 45.0% of the market share in 2020. The region's significant market share is largely driven by the rapid growth of e-commerce services, which has created a higher demand for packaging materials, where hot melt adhesives are extensively used. Additionally, the rising demand for nonwoven products, which rely heavily on HMAs for bonding, further supports market expansion in Asia Pacific. The region's highly competitive business environment also creates new opportunities, encouraging the broader adoption of hot melt adhesives across various industries. This combination of factors is fueling robust demand for hot melt adhesives in the region.

North America Hot Melt Adhesives Market Trends

North America is projected to grow at a compound annual growth rate (CAGR) of 4.3% from 2021 to 2028, in terms of revenue. The growth in this region is primarily attributed to the packaging sector, which is expected to remain a key driver of market expansion. North America is home to some of the largest packaging manufacturers globally, such as International Paper, Ball Corporation, and Owens-Illinois. These companies are central to the packaging industry's demand for hot melt adhesives, especially in sectors such as food and consumer products packaging, driving sustained growth in the market.

Europe Hot Melt Adhesives Market Trends

Europe is expected to experience steady growth over the forecast period. The region's market expansion will be influenced by several factors, including increasing construction activities, the growing automotive sector, and the rising demand for online product delivery services. Developed countries in Western Europe, such as Italy, the U.K., Germany, France, and Spain, are experiencing a surge in e-commerce, which boosts demand for packaging solutions where hot melt adhesives play a critical role. Additionally, the automotive and construction sectors in the region are contributing to steady growth in the usage of HMAs for various bonding applications, further supporting the market's development in Europe.

Browse through Grand View Research's Category Advanced Interior Materials Industry Research Reports.

• The global ammunition market size was estimated at USD 68.57 billion in 2023 and is projected to decline at a CAGR of -11.3% from 2024 to 2030. 
• The global precast concrete market size was estimated at USD 105.72 billion in 2023 and is expected to register a compound annual growth rate (CAGR) of 5.8% from 2024 to 2030.

Key Companies & Market Share Insights

The major companies operating in the market are primarily focusing on regional expansion, mergers & acquisitions, and high profit-margin segments. For instance, in September 2021, Meridian Adhesives Group, a leading manufacturer and formulator of water-based and hot-melt adhesives and coatings, had acquired Prime Blend LLC.

In addition, in October 2020, Pidilite Industries Ltd. had acquired Huntsman Group’sIndian subsidiary Huntsman Advanced Materials Solutions Private Limited (HAMSPL) worth USD 257 million (rupees 2,100 crores) with an aim to expand its product offering for do-it-yourself (DIY) consumer adhesives business. This enables the company to leverage the market growth. Some prominent players in the global hot melt adhesives market include:

• Henkel AG & Co. KGaA
• H.B. Fuller Company
• Dow
• Sika AG
• Jowat SE
• Arkema Group
• Ashland
• 3M
• Avery Dennison Corporation
• Beardow Adams

Order a free sample PDF of the Market Intelligence Study, published by Grand View Research.