At 5.5% CAGR, North America Hot Melt Adhesives Market is Projected to be Worth US$ 3,012.90 Million by 2030, says Business Market Insights

According to Business Market Insights' research, the North America hot melt adhesives market was valued at US$ 1,958.66 million in 2022 and is expected to reach US$ 3,012.90 million by 2030, registering a CAGR of 5.5% 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 North America hot melt adhesive market growth.

The hot melt adhesives (HMAs) market is mainly driven by their increasing demand from packaging solutions, nonwoven hygiene products, and consumer DIY. Hot melt adhesives are quite suitable for the manufacturing of packaging solution products, particularly food packaging and specialty packaging. The packaging application of hot melt adhesives further includes carton boxes, bags, cups, flexible packaging, envelopes, carton closure, specialty packaging, and processed food products. The proper setting time of this adhesive is very important for the successful packaging of any product. Hot melt adhesives are further extensively utilized in products like baby diapers, tissues, pet & medical pads, and towels & napkins. Moreover, feminine hygiene, toddler training pants, and adult incontinence are among the key markets for hot melt adhesives. The hot melt adhesives market, mainly for nonwoven hygiene products, is well-established in regions such as North America and Europe. Furniture and woodwork applications of hot melt adhesives include roofing, countertop laminations, and wall coverings. Hot melt adhesives can also bond to several materials and surfaces, such as ceramic, cardboard, metal, fabric, papers, and plastics, which further makes them a suitable option for DIY applications. The DIY applications for hot melt adhesives include craft, general goods packaging, and others. The stick form of hot melt adhesives is widely utilized in these applications due to its ease of use, as well as the availability of hot melt adhesive guns. The DIY approach is quite common in the US and European countries, where labor as well as installation costs are simply higher than the emerging markets. The demand for hot melt adhesives, mainly from the packaging industry, is presumed to witness growth soon, owing to a significant uptick in packaged food & beverages after the pandemic. This is due to a sudden shift in consumers' buying patterns, especially after the COVID-19 pandemic. Hot melt adhesives are designed for those applications for which streamlined manufacturing, simplified processing, and end-product protection are required. Many companies are trying to fulfill these demands with their advanced product portfolio. Hot melt adhesives are known for superior quality, reliability, and proven results. This product is widely utilized in markets such as electronics, automotive, food & beverages, medical, personal hygiene, and furniture & packaging. These products are available in a full range of reactive as well as non-reactive hot melt solutions. For instance, Henkel's TECHNOMELT is a good choice for hot melt adhesives, which are designed for obtaining the best results in production processes as well as finished products. TECHNOMELT adhesives are designed for superior cost-in-use and efficiency, and they also deliver easy application.

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

Based on product type, the North America hot melt adhesives market is segmented into glue sticks, glue slugs, and others. The glue sticks segment held 63.3% market share in 2022, amassing US$ 1,239.00 million. It is projected to garner US$ 1,926.11 million by 2030 to register 5.7% CAGR during 2022-2030.

In terms of type, the North America hot melt adhesives market is segmented into ethylene vinyl acetate, polyolefins, polyamides, polyurethanes, styrene block copolymers, and other. The ethylene vinyl acetate segment held 41.9% share of North America hot melt adhesives market in 2022, amassing US$ 819.85 million. It is anticipated to garner US$ 1,291.95 million by 2030 to expand at 5.8% CAGR during 2022-2030.

By application, the North America hot melt adhesives market is divided into packaging, construction, automotive, furniture, footwear, electronics, and others. The packaging segment held 29.2% share of North America hot melt adhesives market in 2022, amassing US$ 571.03 million. It is projected to garner US$ 896.62 million by 2030 to expand at 5.8% CAGR from 2022 to 2030.

Based on country, the North America hot melt adhesives market is categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 77.5% share of North America hot melt adhesives market in 2022. It was assessed at US$ 1,518.78 million in 2022 and is likely to hit US$ 2,368.01 million by 2030, registering a CAGR of 5.7% during 2022-2030.

Key players operating in the North America 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 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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