Global Hot Melt Adhesives Market Size to Reach USD 14.61 Billion in 2032 | Emergen Research

Rising demand from the packaging industry is a major factor driving market revenue growth

Vancouver, Sept. 04, 2023 (GLOBE NEWSWIRE) -- The projected trajectory for the global market of hot melt adhesives indicates an anticipated valuation of USD 14.61 billion by the year 2032. This outlook is underpinned by a consistent compound annual growth rate (CAGR) of 4.8% throughout the forecast period, as indicated by the latest analysis conducted by Emergen Research.

Driving this ascendancy in market revenue is the escalating demand for reactive Hot Melt Adhesives (HMA) in preference to conventional adhesives. Notably, the traditional usage of solvent-based adhesives has been widespread across numerous industrial applications. However, the rapid emergence of advanced hot melt adhesives has spurred a displacement of solvent-based counterparts. This shift is attributed to the advanced capabilities of hot melt adhesives, which encompass enhanced efficiency, cost-effectiveness, and environmental compatibility.

A striking feature of hot melt adhesives is their expedited solidification process compared to solvent-based variants. This attribute translates into elevated production speeds and more efficient assembly timelines. Furthermore, articles bonded with hot melt adhesives can be subjected to reheating, facilitating seamless repairs and adjustments when necessary. A pivotal ecological distinction arises from the elimination of Volatile Organic Compounds (VOCs) in hot melt adhesive formulations, which contrasts with solvent-based adhesives known to emit harmful substances associated with potential carcinogenic risks.