Overview and Scope
Reactive hot melt adhesive is a type of adhesive that forms a bond by reacting with the surface of the material being adhered to. It is important because it can create a strong, durable bond even under extreme conditions.
Sizing and Forecast
The reactive hot melt adhesives market size has grown strongly in recent years. It will grow from $1.26 billion in 2023 to $1.38 billion in 2024 at a compound annual growth rate (CAGR) of 9.3%. The growth in the historic period can be attributed to growing end-use industries, shift towards sustainable adhesives, product performance and efficiency, stringent quality standards, cost-effective solutions.
The reactive hot melt adhesives market size is expected to see strong growth in the next few years. It will grow to $1.95 billion in 2028 at a compound annual growth rate (CAGR) of 9.1%. The growth in the forecast period can be attributed to rising demand in electronics assembly, expansion in automotive manufacturing, advancements in packaging industry, construction and infrastructure development, growing popularity in medical applications. Major trends in the forecast period include sustainability and circular economy practices, smart and functional textile applications, adoption of multi-material bonding, customized solutions.
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Segmentation & Regional Insights
The reactive holt melt adhesives market covered in this report is segmented –
1) By Type: High Temperature, Low Temperature
2) By Substrate: Plastic, Wood, Other Substrates
3) By Resin Type: Polyurethane, Polyolefin
4) By Application: Automotive and Transportation, Doors and Windows, Upholstery, Lamination, Textile, Assembly
Asia-Pacific was the largest region in the reactive hot melt adhesives market share in 2023. The regions covered in the reactive hot melt adhesives market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The rise in demand in the packaging industry is expected to propel the demand for the reactive hot melt adhesives market going forward. Packaging refers to enclosing or covering a product with a container to aid in its distribution, identification, storage, promotion, and usage. The packaging industry is involved in the packaging of goods for their manufacturers. The hot-melt adhesives sector has a diverse set of criteria to meet the ever-changing needs of the packaging industry with strong and durable packaging solutions. For instance, according to Smithers, a UK-based provider of testing, consulting, information, and certification services, demand for the global packaging sector will reach $1.05 trillion by 2024. Furthermore, according to the Indian Institute of Packaging (IIP), an India-based autonomous body that was set up by the packaging and allied industries and the Ministry of Commerce, Packaging consumption in India has increased 200% in the past decade, rising from 4.3 kg per person per annum (pppa) to 8.6 kg pppa as on FY20. Therefore, the rise in demand in the packaging industry is driving the demand for reactive hot melt adhesives.
Key Industry Players
Major companies operating in the reactive hot melt adhesives market report are DOW Corning, 3M Company, Henkel AG & Co KGaA, Illinois Tool Works Inc., Royal DSM N.V., Freudenberg & Co KG Arkema SA, Eastman Chemical Company Sika AG, Avery Dennison, Huntsman Corporation, Konishi Co, Ltd., RPM International Inc., H.B. Fuller Company, Synthomer Plc Ashland Global Holdings Inc., Tesa SE, Kraton Polymers LLC, Nan Pao Resins Chemical Co Ltd., Tianyang, Beardow & Adams, Bostik Inc., Kleiberit, DL Chemical Co, Ltd., Tex Year Industries, Jowat SE, Novamelt GmbH Klebstofftechnologie, Renhe, Zhejiang Good, Momenti Group S.p.A.
The reactive hot melt adhesives market report table of contents includes:
1. Executive Summary
2. Reactive Hot Melt Adhesives Market Characteristics
3. Reactive Hot Melt Adhesives Market Trends And Strategies
4. Reactive Hot Melt Adhesives Market – Macro Economic Scenario
5. Global Reactive Hot Melt Adhesives Market Size and Growth
…..
32. Global Reactive Hot Melt Adhesives Market Competitive Benchmarking
33. Global Reactive Hot Melt Adhesives Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Reactive Hot Melt Adhesives Market
35. Reactive Hot Melt Adhesives Market Future Outlook and Potential Analysis
36. Appendix
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