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Hot melt adhesives market to Hit US$ 10.85 Bn by 2026

eTurboNews Syndication:

Selbyville, Delaware, United States, September 16 2020 (Wiredrelease) Global Market Insights, Inc –:Hot melt adhesives market is also replacing traditional solvent-based adhesives in industrial applications. adhesives produced with solvents are combinations of different ingredients with a solvent base. The materials begin to stick once the solvent evaporates. However, polymer-based heated adhesives circumvent this, and other issues associated with solvent-based adhesives.

Hot melt adhesives market also demonstrate advantages including higher cost efficiency, better adhesive performance, and significantly lower VOC production than solvent-based glues, which makes them a sustainable binding alternative for various industrial applications. For instance, Kiilto has developed a new bio-based hot melt adhesive solution that facilitates the production of various sustainable materials, including fully compostable packaging.

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Rapid replacement of mechanical binding solutions with industrial adhesives is anticipated to drive industry expansion 

High-performance, thermoplastic-based adhesives are rapidly taking over from conventional joining methods such as mechanical fasteners like bolts & rivets, as well as welding processes, across various domains and applications.

Economic as well as performance benefits offered by these hot glue alternatives are the key drivers promoting the adoption of these solutions over the traditional binding methods. The automotive industry, particularly, is shifting its focus from rivets and other mechanical binding methods, towards structural adhesives, given numerous benefits such as cost reduction, corrosion resistance, and stress relief, among others.

Furthermore, the development of novel heated adhesive technologies by key players in the industry is also likely to boost the adoption of the product in the automotive domain over the years. For instance, in 2016, Henkel made new additions to its adhesives portfolio, by adding new products designed for use in automotive interiors, including a new hot glue technology, dubbed TECHNOMELT® AS 8383™. The TECHNOMELT® AS 8383™ hot melt adhesives market solution was designed to bond a range of substrates such as polypropylene and acrylonitrile butadiene styrene, with high resistance to heat, making it an ideal binding solution for various car interior applications including flooring, headliners and carpeting installation.

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Material cost fluctuations and shifting consumer trends towards alternative products may hamper market growth

Despite their growing adoption across the industrial landscape, hot melt adhesives face certain challenges such as their susceptibility to higher temperatures, which can cause loss of bond strength. Furthermore, the prices of raw materials used for the production of these products are highly volatile, which can make the balancing of production and selling costs a challenge for the manufacturers. These factors, alongside rising environmental concerns and the subsequent implementation of strict regulations across the globe, are likely to present a roadblock to hot melt adhesives industry development over the forecast spell.

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The biodegradable adhesives are designed to replace regular hot melt adhesives market created from oil-based raw materials, in myriad packaging applications as well as for the manufacturing of hygiene products, whilst demonstrating the qualities of conventional hot glue solutions.

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Collaborations and other strategic moves by key players are likely to present lucrative growth prospects for the hot melt adhesives industry

Prominent entities in the hot melt adhesives market are undertaking various strategic initiatives to make their mark in the global industry, as well as to drive further innovations and developments in adhesive technologies over the years.

For example, in 2019, German hot glue producer BÜHNEN inked a distribution partnership with US-based GLS Products LLC, to reinforce its presence in the US market. The partnership was initiated as a part of the company’s objective to become a leading hot melt adhesives provider for various applications in North America. GLS, which had a 16-year experience as a distribution partner for British adhesive company Power Adhesives Ltd, was also able to expand its range with BÜHNEN complementary products.

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Sustainability and rising efforts towards environmental stability are rapidly becoming a crucial target for various industries, and the adhesives domain is no different. The emergence of biodegradable thermoplastic-based adhesives are a testament to this fact, and it is likely that these innovations, among many others to come, will not only ease the toll taken on the environment by industrial activities but will also pave the way for a brighter, more sustainable outlook for the hot melt adhesives industry in the years ahead.

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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