At 5.2% CAGR, Europe Hot Melt Adhesives Market is Projected to be Worth US$ 2,482.63 Million by 2030, says Business Market Insights

According to Business Market Insights' research, the Europe hot melt adhesives market was valued at US$ 1,655.42 million in 2022 and is expected to reach US$ 2,482.63 million by 2030, registering a CAGR of 5.2% from 2022 to 2030. Growing applications in several end-use industries and changing trend from solvent adhesive to hot melt adhesive are among the critical factors attributed to drive the Europe hot melt adhesive market growth.

Hot melt adhesives offer superior properties such as versatility, resistance to water & moisture, and low cost, making these adhesives the ideal choice for many applications. Hot melt adhesives are used when the glued products can be in contact with water or moisture, including boxes for shipping food. Utilizing traditional glues in such cases can take several minutes, and further, they can cause a worker to hold on to the items to keep the two surfaces together until the glue dries. With hot melt adhesives, the drying time has been cut down to seconds, leaving the person free to continue with the next task. Hot melt adhesives are nowadays preferred among various end-use industries to solvent adhesives, owing to advantages such as eco-friendliness, high productivity induced by process automation, and re-adhesion possibility. Hot melt adhesives do not need any drying or curing like solvent-based adhesives. Hot melt adhesives can further apply in the molten state itself, so that it can be bonded immediately post-application. This further provides hot melt adhesives a significant advantage of faster processing time when applied to food packaging, consumer goods packaging, furniture, crafting, and others. Volatile organic compounds can be reduced or eliminated, and the drying or curing step can be eliminated while using hot melt adhesives. Hot melt adhesives can also be disposed of by taking special precautions, and they have a long shelf life as compared to typical adhesives. Due to all these benefits, industries are adopting hot melt adhesives over solvent-based adhesives. Hot melt adhesives can also dissolve the polymer using water, owing to which most of the sectors are adopting these adhesives over solvent adhesives. Moreover, manufacturers are offering innovative products to cater to this demand. In September 2020, SABA announced the launch of a new hot melt adhesive in the market - Sabamelt 4732, which was meant to produce pocket coil units. The company could see an increased demand for environment-friendly, solvent-free foam bonding solutions. Expansion of the company's product portfolio with new, high-quality hot melt adhesives brought more value to bedding, as well as furniture manufacturers. SABA's pocket coil hot melt is the first addition, and the company is planning to bring more such products to the market.

On the contrary, low thermal resistance hampers the growth of Europe hot melt adhesives market.

Based on product type, the Europe hot melt adhesives market is segmented into glue sticks, glue slugs, and others. The glue sticks segment held 64.8% market share in 2022, amassing US$ 1,072.67 million. It is projected to garner US$ 1,621.78 million by 2030 to register 5.3% CAGR during 2022-2030.

In terms of type, the Europe hot melt adhesives market is segmented into ethylene vinyl acetate, polyolefins, polyamides, polyurethanes, styrene block copolymers, and other. The ethylene vinyl acetate segment held 43.4% share of Europe hot melt adhesives market in 2022, amassing US$ 718.32 million. It is anticipated to garner US$ 1,109.11 million by 2030 to expand at 5.6% CAGR during 2022-2030.

By application, the Europe hot melt adhesives market is divided into packaging, construction, automotive, furniture, footwear, electronics, and others. The packaging segment held 30.6% share of Europe hot melt adhesives market in 2022, amassing US$ 506.43 million. It is projected to garner US$ 773.26 million by 2030 to expand at 5.4% CAGR from 2022 to 2030.

Based on country, the Europe hot melt adhesives market is categorized into Germany, France, Italy, the UK, Russia, and the Rest of Europe. Our regional analysis states that the Rest of Europe captured 33.2% share of Europe hot melt adhesives market in 2022. It was assessed at US$ 549.36 million in 2022 and is likely to hit US$ 806.91 million by 2030, registering a CAGR of 4.5% during 2022-2030.

Key players operating in the Europe hot melt adhesives market are H.B. Fuller Company; Henkel AG & COMPANY, KGAA; Arkema; 3M; Sika AG; Jowat SE; Hexcel Corporation; The Dow Chemical Company; Beardow Adams; Gorilla Glue Company; and Adhesive Technologies, Inc. among others.

• In December-2020, H.B. Fuller Company launched new products, Advantra 9280 EU and Advantra BOLD 9480, readily available adhesive grades with hot melt advanced technology for extreme cold storage of vaccines and medication packaging.
  
  
• In November-2020, H.B. Fuller launched an innovative hot melt adhesive, Full-Care 5885, to meet the industry's growing demand for natural-based hygiene articles. The product provides a robust solution for customers looking for more natural-based products.
  
  
• In May-2021, Henkel AG & Co. KGaA launched the industry's first bio-based polyurethane reactive (PUR) hot melt adhesive. The product LOCTITE HHD 3544F is designed for consumer electronics assembly.
  
  
• In February-2021, Henkel AG & Co. KGaA launched sustainable packaging hot melt adhesives in a successful partnership with Dow. This new Technomelt Supra ECO range of products has been developed to enable customers to reach their sustainability goals.
  
  
• In January-2020, Bostik launched Thermogrip 2356, a new product line for label adhesive, which is specially designed to enhance production line efficiencies and enable sustainable packaging for quick-service restaurant applications. The product is formulated with hot melt pressure-sensitive adhesive technology.
  
  
• In September-2018, Bostik, an Arkema company, launched the hot melt adhesive Kizen HEAT for case and carton sealing applications.
  
  
• In August-2019, Jowat SE launched a new Jowatherm GROW product range. These products are bio-based hot melts for environmentally friendly packages.
  
  

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