TAGS: Hot-melt Adhesives
Research and Markets (RM) anticipates that the global bookbinding adhesive market size which was USD 1.8 Billion in 2022 and is projected to grow at a CAGR of 2.2% during the forecast period to reach USD 2.1 Billion by 2027.
Due to their demand from various applications such as hardcover & softcover books, magazines & catalogs, and print-on-demand is driving the bookbinding adhesives market.
HMAs to Register Highest CAGR
The hot melt technology is expected to register the highest CAGR of the overall bookbinding adhesives market during the forecast period, in terms of volume.
The primary applications of hot-melt adhesives are packaging, attaching labels and wood veneer, bookbinding, and textiles.
Hot-melt adhesives can be created in various forms, including pellets, slugs, and blocks for bulk application or stick and continuous rope forms for heated gun applications. Hot melt adhesive maintains the desired qualities of pull strength and flexibility while overcoming the drawbacks of emulsion adhesives. The rapidity, minimal waste, and low price of hot-melt adhesives served as their main selling points.
The print-on-demand application is projected to register the highest CAGR during the forecast period.
Highest Growth in Asia Pacific Region
Asia Pacific is the largest market for print-on-demand application. People who work from home and stay at home have raised demand for the home decor goods sector. This factor is expected to be a driving force for print-on-demand services. There is strong demand for these applications from the Asia Pacific region, especially from developing countries such as China, India, Thailand, Indonesia, and Malaysia. Global bookbinding adhesives manufacturers are establishing their manufacturing facilities or sales offices in these emerging regions to cater to the increasing demand.
Europe bookbinding adhesives market is projected to register the second largest market share during the forecast period.
Europe was the second-largest market for bookbinding adhesives in 2021. The increasingly stringent regulations regarding the use of low/no VOC adhesives may affect the demand for bookbinding adhesives. The bookbinding adhesives market in Europe is expected to grow faster due to the presence of top player and technology advancement. It is expected to rise gradually as number of printed book readers are growing, and also, rise in higher education enrolment ratio.
Source: Research and Markets