Hot Melt Adhesives (HMA) Market worth $11.4 Billion By 2027 - At a CAGR of 4.8%

The Hot Melt Adhesives (HMA) Market is projected to grow from USD 9.1 Billion in 2022 to USD 11.4 Billion by 2027, at a CAGR of 4.8% between 2022 and 2027. Asia Pacific is estimated to be the largest consumer of HMA. The global HMA market is driven by the growing demand for HMA in DIY applications.

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Browse?217 market data Tables and?44 Figures spread through?213 Pages and in-depth TOC on "Hot Melt Adhesives (HMA) Market by Type (EVA, SBC, MPO, APAO, PA, PO, PU), Application (Packaging Solutions, Nonwoven Hygiene Products, Furniture & Woodwork, Bookbinding) and Region (APAC, Europe, North America, RoW) - Global Forecast"

The key players operating in the market are Henkel AG & Co. KGaA (Germany), H.B. Fuller (US), Jowat SE (Germany), 3M (US), and Arkema (Bostik) (France). These players have adopted various strategies, such as acquisition, expansion, and new product launchto grow in the market. Acquisitionsis the key strategy adopted by the major players between 2016 and 2022. This strategy helped companies enhance their global presence.

3M started a small-scale mining venture more than a century ago, but today more than 60,000 products of the company are used in homes, schools, hospitals, and other industries. The company has managed to remain in the Fortune 500 list repeatedly because of its scientific, technical, and marketing innovations. It is performing its corporate operations in 70 countries, and sales in 200 countries, with more than 90,000 employees. The products are segmented in four main units – Safety & Industrial; Transportation & Electronics; Healthcare; and Consumer.The company has an extensive and robust product portfolio, along with the strong R&D capabilities. It has established vast distribution channels in different geographic locations to serve its customers worldwide.

Jowat SE manufactures and distributes adhesives globally. The company operates through eight product segments: HMAs (EVA, PA, PO, and PSA), reactive HMAs, dispersion adhesives, solvent-based adhesives, reactive 1k and 2k systems, PSA, primer, and other adhesives/special products. The company offers its hot melt products through the HMAs (EVA, PA, PO, and PSA) segment.

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The application areas of HMA offered by the company include woods, furniture, construction, and packaging. The company operates in North America, Europe, Latin America, Asia Pacific, and Africa with its customer base spread across 80 countries. It has 21 affiliates that cater to various customers worldwide.

The HMA market is projected to grow from USD 9.1 Billion in 2022 to USD 11.4 Billion by 2027, at a CAGR of 4.8% between 2022 and 2027. APAC is the largest and fastest-growing HMA market in the world. Increasing replacement of other adhesive technologies by HMA is one of its driving factor.

APAC accounted for 32.9%, in terms of value, of the global HMA market in 2021.The furniture & woodwork application is projected to grow at the highest CAGR in terms of value and volume, during the forecast period. This is due to the changing demographics, changing consumer needs, and the increasing consumer awareness regarding these products in the Asia Pacific region. The others application is also growing in terms of both value and volume. This is due to the increasing application of HMAs in footwear manufacturing and in consumer DIY applications.

The packaging solutions has the largest market share of HMA by Application segment. The packaging application of HMAs includes carton boxes, envelopes, carton closure, cups, flexible packaging, specialty packaging, bags, and processed food products. Cases and cartons are made of paperboard and used for the packaging of goods. They are used in various applications such as transportation and storage of agricultural & poultry products, biscuits, chocolates, pharmaceutical products, and industrial use.

Corrugated packaging offers various benefits, as they are stackable, custom-designed, recyclable, and incur low transportation costs. Corrugated board is a blend of three sheets of paper. Corrugated paperboard is used for the packaging of products, such as fruits, vegetables, poultry, meat, agriculture, cosmetics, furniture, personal care, automotive, publication & printing, and seafood, which increases the use of adhesives in this application. In paper & packaging, HMAs are also used for sticking labels on bottles, boxes, and containers in the food & beverage, pharmaceuticals, and personal care industries.

Henkel AG & Co. KGaA (Germany), H.B. Fuller (US),JowatSE (Germany),3M(US), and Arkema (Bostik)(France) are the key players in the global HMA market. These market players are expected to undertake various growth strategies, such asexpansions, acquisitions, and new product launchto expand their overall businesses and tap the opportunities in the fast-growing economies.Major players are focusing on strengthening their R&D facilities to provide cost-effective products and investment in emerging markets. These products are manufactured adhering to regulations implemented by governments. All such developments are expected to lead to the sustainable growth of the HMA market players over the next five years.