Reactive Hot Melt Adhesive Market: Global Size, Share, Trends, Growth and Forecast, 2022-2032
Reactive hot melt adhesive is an adhesive that combines hot melt and reactive adhesive. The reactive hot melt adhesive has advantages of simple application of hot melt adhesive such as rapid curing, high initial viscosity and also of the reactive adhesive such as high adhesive strength and heat resistance etc.
These offer various benefits such high tolerance to extreme temperature ranges, better adhesive properties in lesser quantity, easy applicability, faster curing time which results in high production rate, better durability, and strength etc.
Reactive hot melt adhesives are mainly used for assembly works and reinforcement of decorative edging. These adhesives further aid in joining of other materials with wooden surface and enhance the structural bonding of wood. Reactive hot melt adhesives find their applications in various end-user industries such as textile automotive, packaging, transportation, furniture, footwear, and others.
The global reactive hot melt adhesives market is anticipated to grow at a flourishing CAGR in the years to come.
The growth of this market is attributed towards major relying factors which include but are not limited to; the increasing demand and application of reactive hot melt adhesives in various end-use industries, the growth in the major end-use industries such the automotive, woodworking, and construction industries, the increasing replacement of other adhesive technologies by HMAs, the increasing high demand for HMAs in various DIY applications and the globally increasing technological advancements etc.
Moreover, plastics are uniquely suited currently for application in the automotive and transportation industries. Components and structural parts which are manufactured from plastics provide consistent high-performance levels in conditions that are unsuitable for metals and other materials. Automotive components, such as seatbacks, rear spoilers, instrumentation panels, and food handling equipment, are made from plastics. Thus, this demand from the automotive industry is increasingly projected to augment demand for plastic substrates in reactive hot melt adhesives which in turn is expected to comprehensively scale up the growth of the overall market.
Furthermore, factors such as the superior properties of reactive hot melt adhesives than traditional adhesives, changing lifestyle and surge in demand for convenient and packaged food products among consumers leading to growth in the packaging industry, growing infrastructural activities and residential construction in the emerging economies, global shift toward VOC-free products, high strength, and lesser curing time adhesives driving the need for developing new products which meet environmental standards and consumer requirements and the increasing use of HMAs in road marking application will further expand the growth of this market.
However, the high curing time of reactive hot melt adhesives as compared to other technologies hinder the growth of this market.
REACTIVE HOT MELT ADHESIVES MARKET SEGMENTATION:
By Product Type:
- High Temperature
- Low Temperature
By Resin Type:
- Automotive & Transportation
- Doors & Windows
- Furniture & Upholstery
- Personal Care
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
The North American region is the largest regional market for reactive hot melt adhesives and is projected to witness ample growth in the next few years owing to the growth of the automotive, woodworking, and construction sectors, the decrease in unemployment rates and the increase in per capita income etc. The major contributor in the region is the U.S.
The Asia Pacific region is anticipated to be the fastest growing regional market for reactive hot melt adhesives in the upcoming years. The growth in this region is attributed to factors such as the increasing use of reactive hot melt adhesives in various applications such as automotive & transportation, doors & windows, furniture & upholstery, and lamination etc, the increasing investments in the region due to the rising trade-war tension between China and the U.S, the increasing government initiatives supporting the manufacturing of such items etc. Also, the low cost of labor in the emerging countries of this region compel the market players to increase their presence and enlarge their bases to maximize their profits. The major contributors in the region include India, China and Japan.
FEW KEY PLAYERS IN REACTIVE HOT MELT ADHESIVES MARKET:
- ZheJiang Good Machinery Co. Ltd.
- Tex Year Industries Inc.
- Guangdong Huate Gas Co. Ltd.
- Nanpao Resins Chemical Group
- Jowat SE
- DOW Corning
- Henkel AG & Co.
- B. Fuller Company
- 3M Company
- Bostik Inc.
- Beardow & Adams
- Novamelt (Henkel)
- Avery Dennison Corporation
- Other Players
- In September 2017, Sika Corporation, a supplier of innovative adhesive and sealant solutions, announced the launch of SikaMelt-9677 to the US market. SikaMelt-9677 is a reactive polyurethane hot-melt adhesive that cures on exposure to atmospheric humidity and forms a durable elastomer. It is suitable for permanent bonding of polar plastics, woods, foams, textiles, painted and primed steel substrates. The adhesive is ideally suited for small and large panel laminations, particularly for the recreational vehicle (RV) and garage door market.
- In September 2018, H.B. Fuller Company announced that, H.B. Fuller North America, as per contract would be implementing price increases for all adhesives product categories and related products. Increases were said to be on a range from 4 percent to 10 percent.
Timeline Considered for Analysis:
- 2019: Base Year
- 2020 to 2025: Forecast Period
Research Scope and Deliverables
Overview & Executive Summary
Market Drivers, Trends, Challenges and Opportunities
Market Size and Forecast Projections
Macroeconomic Indicators of Various Countries Impacting the Growth of the Market
Extensive Coverage of Industry Players including Recent Product Launches and Market Activities
Porter’s Five Force Analysis
Market Segmentation Analysis:
Industry report analyzes the global reactive hot melt adhesives market by the following segments:
- Product Type
- Resin Type
Customization: We also offers customization’s in the industry report as per the company’s specific needs.
Key Questions Answered in the Global Reactive Hot Melt Adhesives Industry Report
- What is the overall market size in 2019? What will be the market growth during the forecast period i.e. 2020-2025?
- Which region would have high demand for product in the upcoming years?
- What are the factors driving the growth of the market?
- Which sub-market will make the most significant contribution to the market?
- What are the market opportunities for existing and entry-level players?
- What are various long-term and short-term strategies adopted by the market players