TAGS: Reactive Adhesives Hot-melt Adhesives Polyurethane Adhesives UV/EB Cure Adhesives
Markets and Markets (M&M) anticipates that the reactive hot melt adhesives market is projected to grow from USD 1.6 billion in 2022 to USD 2.6 billion by 2028, at a CAGR of 7.5% between 2023 and 2028 forecast period. The increase in building activities is fueled by infrastructure spending.
Drivers: Superior Properties over Conventional Adhesives
Reactive hot melt adhesives stand out for their environmentally friendly profile, boasting low or zero VOC content compared to traditional solvent-based counterparts. Compliant with VOC regulations, these adhesives are gaining traction due to manufacturers prioritizing eco-friendly solutions. Their solvent-free composition not only benefits the environment but also results in cost savings, including lower labor and energy expenses.
Additionally, these adhesives, with properties like flexibility, high strength, and excellent adhesion to various substrates, outperform conventional options. Their notable heat resistance further attracts end users, establishing reactive hot melt adhesives as a preferred choice across diverse applications.
Restraints: High-curing Time Compared to Other Technologies
Unlike some adhesives, reactive hot melt adhesives have an extended curing period, often taking several hours or even overnight. This prolonged curing time is attributed to their reliance on moisture from the air, necessitating patience for optimal bonding strength. Notably, one-part reactive hot melt adhesives may not be the ideal choice for thick bond lines due to their inherent curing characteristics.
In PU-based reactive hot melt adhesives, the reaction proceeds slowly as it depends on the moisture in the substrate or air, and its adhesiveness is affected by external conditions, such as low humidity and low temperature. However, in condensation cure, radiation cure, and UV cure adhesives, the curing time is comparatively less, which negatively influences the growth of the reactive hot melt adhesives market.
In condensation cure adhesives, the curing time ranges from 30 minutes to 4 hours, while UV-cure adhesives, once exposed to a UV light source, can cure almost instantly. Radiation cure adhesives take as little as a second to several minutes for curing when exposed to radiation. The presence of such potential alternatives is expected to restrain the growth of the reactive hot melt adhesives market.
Opportunities: Technological Advancements in Reactive HMAs
Technological advancements contribute to improved performance, versatility, and application efficiency of reactive hot melt adhesives. Advancements in curing technologies contribute to faster and more efficient curing processes. This includes the development of adhesives with quicker curing times, enabling faster production cycles in various industries. Some reactive hot melt adhesives now incorporate dual-cure systems, combining both hot melt and UV (ultraviolet) curing technologies. This provides versatility in bonding different materials and allows for enhanced curing control.
Technological advancements aim to enhance the temperature resistance of reactive hot melt adhesives, making them suitable for applications in extreme temperature conditions, such as those encountered in the automotive and aerospace industries. There is more focus on developing bio-based and sustainable formulations for reactive hot melt adhesives. This addresses the growing demand for eco-friendly adhesives that have minimal environmental impact.
Challenges: Low-open Time for Application
Open time refers to the period during which the adhesive remains in a state suitable for bonding after application. If the open time is too short (low open time), there is limited time available for assembling or positioning the bonded components. This can be challenging, especially in applications that require precision or involve complex assemblies.
The open time of reactive hot melt adhesives can be influenced by ambient temperature and humidity. In environments with elevated temperatures, the open time may be further reduced, making it challenging to control the bonding process. In situations where adjustments are needed after initial bonding, a short open time limits the window for repositioning or disassembly. This lack of flexibility may be a drawback in applications where modifications or rework are common.
Polyurethane Resin Accounted for Largest Segment
Polyurethane is ideal for a wide variety of applications, such as automotive interior, carpentry, woodworking, furniture repair, shoe repair, laminate countertops, broken glassware repair, ceramic ceiling tiles, and construction and remodeling.
As polyurethane hot melt forms a strong bond in the initial period and then continues to strengthen as the adhesive reacts with moisture, it provides a stronger bond than a traditional hot melt.
Plastic: Fastest-growing Substrate Segment
Reactive hot melt adhesives can be formulated to activate and cure at temperatures that are suitable for bonding plastics without causing damage to the material. This makes them well-suited for use on heat-sensitive plastics. These adhesives exhibit versatility in bonding various types of plastics, including polyethylene, polypropylene, and PVC, among others. This versatility is advantageous in industries where multiple types of plastics are used in manufacturing.
The demand for plastics is rising as they are used in automotive & transportation, assembly, textile, construction, woodworking, and electronics, among other end-use industries. They are lightweight and ensure superior performance, dimension stability, and good clarity in end-products.
Automotive & Transportation Accounted for Largest Segment
Weight reduction of automobiles is found to be an excellent way to improve fuel economy, extend the cruising range of e-cars, and decrease combustion emissions. Lightweight materials, such as composites, have started to replace steel as the preferred material in automobile components. The use of composite materials has allowed a reduction of up to 75% of vehicle weight, along with the same or higher strength. This results in savings of up to 25% in fuel consumption.
Reactive hot melt adhesives help in achieving the bonding of such lighter and alternative substrates in the automobile industry. Unlike epoxy systems that are cured at high temperatures, they do not provide sufficient elongation to work with composite materials, which have a low resistance to temperature changes. Polyurethane reactive hot melt systems are widely spread to overcome this issue.
Highest Growth in Asia Pacific Region
The Asia Pacific is the largest reactive hot melt adhesives market, in terms of both, value and volume, and is projected to be the fastest-growing market during the forecast period. The Chinese market for reactive hot melt adhesives has grown rapidly. It is projected to witness growth in the near future because of the continuous shift of global automobile production facilities in the country.
India, China, and Indonesia are investing heavily in various end-use industries, which is likely to influence the growth of the reactive hot melt adhesives market in these countries.
Key Market Players
Henkel AG & Co. KGaA (Germany), The Dow Chemical Company (US), H.B. Fuller Company (US), Jowat SE (Germany), and 3M (US) are the key players in the global reactive hot melt adhesives market.
Henkel operates globally with a well-balanced and diversified portfolio. It manufactures and distributes, homecare, laundry, cosmetics, and adhesive products. The company operates through four main business segments: Adhesive Technologies, Laundry & Home Care, Beauty Care, and Corporate. Adhesives & Sealants are produced under the adhesive technologies segment. Henkel offers a multitude of applications to cater to the needs of different target groups: consumers, craftsmen, and industrial businesses. Henkel Adhesive Technologies is the global leader in adhesives, sealants, and functional coatings worldwide.
Recent Developments
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In August 2023, the new PUR hot melt adhesive reactor at Henkel's Dragon Factory in Shanghai officially began production, marking a new milestone for the world's largest adhesive factory. PUR hot melt adhesive is mainly used in bonding furniture and building materials.
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In May 2023, Henkel inaugurated its Technology Center in Bridgewater, New Jersey, USA, spanning 70,000 square feet. This facility serves as an engaging hub for Henkel's strategic partners and customers, featuring the company's comprehensive technology lineup, including adhesives, sealants, functional coatings, and specialty materials. With a focus on collaboration, it encourages innovative solution development with customers across 800 industry segments.
Source: Markets and Markets (M&M)