TAGS: Hot-melt Adhesives Sustainability / Natural Adhesives Polyurethane Adhesives
Research and Markets (RM) anticipates that the global hot-melt adhesives market is expected to grow from 6.63 billion USD in 2020 to 7.02 billion USD in 2021 at a compound annual growth rate (CAGR) of 5.9 percent. The market is expected to reach 8.06 billion USD in 2025 at a CAGR of 4 percent.
The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges.
Increasing Demand for Hot-melt PU Adhesives
The hot-melt-based adhesives market consists of sales of hot-melt-based adhesives. Hot-melt-based adhesives are known as hot glue, a form of thermoplastic adhesive that is heated to create a melt before applying to the surface and is designed to be melted in an electric hot glue gun.
With growing awareness to preserve the environment, customers/consumers are fetching for eco-friendly products. Features like affordability, non-release of VOC into the environment, longer shelf life, reusability without degradation, and fast-drying ability are making hot-melt adhesives environmentally friendly adhesives when compared to other adhesives.
Companies such as Bostik is providing hot-melt polyurethane adhesive for the textile industry by using a solventless technology that reduces the usage of hazardous solvent like methylene chloride. There is a visible success of hot-melt polyurethane adhesive in underwear, sportswear and medical garment manufacturers in Asia. The increasing demand for hot-melt polyurethane adhesives will drive the hot melt adhesives market.
HMA Companies Adopting Internet of Things
Many products produced by adhesives companies are potentially hazardous during the manufacturing stages. This is mainly because the manufacturing processes involve high temperatures and high-pressure reactions which can be dangerous unless controlled carefully. In addition, some of these manufactured dyes have an adverse impact on both living organisms and the environment. Due to this, regulations in the adhesives industry – in assessing and managing the risks involved in the manufacturing, transporting and disposing of chemicals – increased in the historic period.
Adhesives have to be compliant with complex regulations that govern labeling, handling, manufacturing, and shipping and storage of the product. Additional compliance costs for these changing regulations, as different countries and geographies have different regulations, were a major restraint for hot melt-based adhesives companies.
The hot-melt-based adhesives market is segmented by type into thermoplastic polyurethane, ethylene vinyl acetate, styrenic-butadiene copolymers, polyolefins, polyamide and other resin types. The hot-melt-based adhesives market in this report is segmented by application into packaging solutions, nonwoven hygiene products, furniture & woodwork, bookbinding and others.
Many hot-melt adhesive companies are adopting IoT (Internet of Things) technologies to connect equipment and smart devices to garner real-time insights and locate gaps in the manufacturing process. The data obtained is processed, analyzed and interpreted by plant managers and senior-level management to improve quality and achieve optimum production levels.
For example, smart systems give information on the working condition and performance of chemical reactors with embedded software and analytics tools to notify plant operators and managers of possible machine breakdowns. For instance, some of the major companies adopting IoT include BASF SE, The Dow Chemical Company and H.B. Fuller.
Source: Research and Markets