TAGS: Hot-melt Adhesives Reactive Adhesives Sustainability / Natural Adhesives
Markets and Markets (M&M) anticipates that the global hot-melt adhesives market which was valued at USD 9.1 billion in 2022 and is projected to reach USD 11.4 billion by 2027, growing at 4.8% cagr from 2022 to 2027 forecast period. The packaging solutions, by application type in Asia Pacific region is expecting a boom in the forecasted period and will lead to an increase in the demand for HMA.
High-demand in DIY Applications
Hot Melt Adhesives (HMA) can bond to a wide variety of materials and surfaces such as ceramic, fabric, papers, cardboard, metal, and plastics, which makes them suitable for DIY applications. Although DIY is popular in developed economies such as North America and Europe, whereas in emerging markets such as India, UAE, and Turkey it is a relatively new concept. The DIY applications include craft, woodworking, general goods packaging, and others. The stick form of HMA is widely used in these applications because of its ease of use and the availability of HMA guns.
HMA are highly effective when the temperature is close to their flow point that makes movement and bonding of the adhesives easy for various applications such as packaging and nonwoven hygiene products. However, they exhibit limitations at high temperatures due to lesser thermal resistance. Thus, they are replaced by solvent and waterborne adhesives for such applications.
Demand for Reactive Hot-melt Adhesives
Reactive hot melt adhesives have low VOC or zero VOC content in comparison to conventional solvent-based products. They do not contain any solvent and have achieved compliance with VOC regulations, thus being more environment-friendly than the conventional alternatives.
Currently, the manufacturers are focusing on the use of environment-friendly products, thereby increasing the demand for these adhesives. These adhesives have the ability to eliminate solvents and leverage additional benefits, such as lower labor and energy costs. Reactive hot melt adhesives do not require dryers, which lower energy costs. Their physical properties include flexibility, high strength, and excellent adhesion to a range of substrates, including wood, fabrics, plywood, particleboards, foams, metals, and plastics.
Low surface energy substrates, low porosity or low surface roughness substrates, highly recycled paper stock, and other shiny and coated plastics are hard-to-bond surfaces. These surfaces require cured adhesives for gluing. As HMA are not cured, they take more time to solidify in comparison to other light-cured adhesives such as epoxy adhesives. Thus, HMA are not preferred for hard-to-bond substances. This may result in the use of two-part acrylic-based adhesives as a substitute.
EVA is projected to dominate the market during the forecast period. EVA copolymers are used as a base polymer for HMA. EVA is a modified PE or a copolymer of ethylene with vinyl acetate that offers greater flexibility or the ability to withstand adverse temperature changes in comparison to PE. It is manufactured in three grades with varying content of vinyl acetate (VA), namely, 7%–15% VA, 15%–20% VA, and 20%–40% VA.
Highest Growth in APAC Region
APAC is the largest Hot Melt Adhesives Market (HMA Market) in terms of value and volume and is projected to be the fastest-growing market during the forecast period. The region has witnessed significant economic growth over the last decade. China continues to be an assembly hub for industrial products because of low labor costs.
Thus, it consumes large volumes of HMA in appliances, footwear, and wood products, among other applications. Southeast Asian countries, including Vietnam and Cambodia, are witnessing increased adhesive consumption because of growth in footwear manufacturing.
In February 2022, Arkema acquired wide range of key technologies and well-known brands of Ashland Performance Adhesives. It is a major player in pressure-sensitive adhesives, particularly decorative, protection, and signage films for automotive and buildings. It also holds leading positions in structural adhesives and offers an extensive range of hot melt adhesives for flexible packaging.
In September 2021, Jowat launched Jowat-Toptherm 851.99, a hot melt adhesive characterized by a broad spectrum of adhesion and outstanding qualities, coupled with a very low viscosity that allows processing temperatures starting from 99°C (210°F). The low processing temperature makes Jowat-Toptherm 851.99 an exceptional choice for packaging temperature-sensitive products such as confectionery or frozen food.
Source: Markets and Markets (M&M)