United States Hot Melt Adhesives Market to Grow with a CAGR of 5.03% through 2028
Growing demand of hot melt adhesives in automotive
industry is expected to drive the United States Hot Melt Adhesives Market
growth in the forecast period, 2024-2028
According to TechSci Research report, “ United States Hot Melt Adhesives
Market Industry Size, Share, Trends, Competition Forecast
& Opportunities, 2028”, the United States Hot Melt Adhesives Market
stood at USD1.42 billion in 2022 and is anticipated to grow with a CAGR of 5.03%
in the forecast period, 2023-2028. The initiatives taken by government based on
hot melt adhesives has led to favorable market conditions for the United States
Hot Melt Adhesives Market. Several factors contribute to the growth of various hot
melt adhesives products.
Government regulations have been instrumental in
encouraging the use of bio-based hot melt adhesives. These thermoadhesives
align with various sustainability initiatives and regulations, and their use
allows companies to meet regulatory compliance. For instance, the development
of green and sustainable hot melt adhesive (HMA) based on Polyhydroxyalkanoate
(PHA) and Silanized Cellulose Nanofibers (SCNFs) is a testament to this trend.
In recent years, there has been a growing United
States awareness of the environmental impact of traditional adhesives. The
demand for eco-friendly alternatives has spurred the development and adoption
of bio-based hot melt adhesives. These innovative adhesives not only offer
comparable performance to their conventional counterparts but also contribute
to reducing carbon emissions and promoting a circular economy.
Furthermore, the recent United States events, such as
the COVID-19 pandemic, have presented significant supply chain challenges for
various industries, including the hot melt adhesives market. Governments and
companies have been taking proactive steps to overcome these challenges and
ensure the steady supply of these crucial products. This includes implementing
strategies to enhance domestic production capabilities, diversifying sourcing
options, and strengthening logistics and distribution networks.
By addressing these supply chain disruptions,
stakeholders in the hot melt adhesives industry can maintain a stable and
reliable supply of these essential products. This, in turn, supports the smooth
operation of various sectors, including packaging, automotive, construction,
and electronics, which heavily rely on hot melt adhesives for their manufacturing
processes.
In summary, government regulations promoting the use
of bio-based hot melt adhesives and the ongoing efforts to overcome supply
chain challenges highlight the dynamic and evolving nature of the hot melt
adhesives market. The industry's commitment to sustainability and resilience
ensures that innovative solutions continue to drive growth and shape the future
of adhesive technologies.
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Hot melt adhesives (HMAs) play a crucial role in the
manufacturing and assembly process of vehicles. They are extensively used in
various applications, such as bonding parts in interior trims, securing wires
in place, assembling components of headlights, and sealing under-the-hood
applications.
One of the key advantages of HMAs over traditional
mechanical fasteners is their ability to provide a strong bond that enhances
the overall structural integrity of the vehicle. Additionally, HMAs exhibit
excellent resistance to high temperatures, making them suitable for use in
environments with extreme heat conditions. Moreover, their exceptional
flexibility allows for better adherence to irregular surfaces, ensuring a more
secure and reliable bond.
With these exceptional properties, HMAs have become an
indispensable component in the production of vehicles. They not only contribute
to the overall efficiency of the manufacturing process but also enhance the
durability and performance of the final products.
The United States Hot Melt Adhesives Market is
segmented into resin type, end user, regional distribution, and company.
Based on its resin type, the Ethylene Vinyl Acetate segment
held the largest share in the market. EVA (Ethylene Vinyl Acetate) is highly
versatile, durable, and exhibits strong adhesion properties. These
characteristics make it a popular choice in the woodworking and packaging
sectors. Its broad usability in these industries is due to its ability to provide
excellent bonding and hold under various conditions and substrates. Whether
it's for laminating veneers or creating sturdy packaging materials, EVA
continues to be a reliable and widely used material.
Polyolefin hot melts, another widely used product category,
offer exceptional chemical resistance, low moisture permeability, and excellent
barrier properties. These attributes contribute significantly to the growth of
the segment. The resistance to chemicals makes polyolefin hot melts suitable
for various applications, including nonwoven product manufacturing and
packaging industries. By providing a strong barrier against moisture and other
elements, these hot melts ensure the integrity and longevity of the final
products.
Based on region, Midwest segment is expected to grow
during the forecast period.
Furthermore, it is worth noting that the region not
only exhibits the fastest growth rate, estimated at approximately 5.6% in terms
of value, but also showcases a remarkable expansion of its manufacturing base
for the packaging industry. This, coupled with the rapid rise in demand for
nonwoven products, stands as a prominent driving factor behind the market
growth of hot melt adhesives over the forecast timeframe. As the region
continues to witness significant advancements and developments in these
sectors, it is poised to emerge as a key player in the United States market,
solidifying its position as a hub for hot melt adhesive production and
consumption.
Major companies operating in United States Hot Melt Adhesives
Market are:
- 3M Co.
- Alfa International Corporation
- Arkema SA
- Ashland United States Holdings Inc.
- Avery Dennison Corporation
- Beardow & Adams (adhesives) Limited
- Dow Inc.
- H.B. Fuller Company
- Huntsman International LLC
- Master Bond Inc.
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“Growing application of hot melt adhesives in various
end user industries are key drivers of the hot melt adhesives market. Growth in
competitive landscape and presence of well-established companies in the market
who are dedicated to enhance their productivity of hot melt adhesives with
every passing year are anticipated to register an impressive growth to United
States Hot Melt Adhesives Market in the forecast period.,” said Mr. Karan
Chechi, Research Director with TechSci Research, a research-based management
consulting firm.
“United States Hot Melt Adhesives Market Segmented
By Resin Type (Ethylene Vinyl Acetate, Styrene Block Copolymers, Metallocene
Polyolefin, Others), By End User (Packaging Solutions, Nonwoven Hygiene
Products, Others), By Region, Competition, Forecast and Opportunities,
2018-2028”, has evaluated the future growth potential of United States Hot Melt
Adhesives Market and provides statistics & information on market size,
structure and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in United States Hot Melt
Adhesives Market.
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