According to the new market research report "Hot Melt Adhesives 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 to 2027", published by MarketsandMarkets™, the 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. Growing demand for HMA from packaging, and nonwoven hygiene products application in Asia Pacific and South America provide opportunities to increase the market.
China’s standard of living and purchasing power are increasing rapidly, making the appliances industry strong. This encourages the development of strong foreign and Chinese brands. According to Statista, the revenue generated from the appliances industry is projected to witness an annual growth rate of 9.4% between 2020 and 2024, amounting to USD 70,388 million by 2024. This growth of the appliances industry in the country is increasing the use of HMA.
Henkel AG & Co. KGaA (Germany), H.B. Fuller (US), Jowat SE (Germany), 3M (US), and Arkema (Bostik) (France) are the key players in the global HMA market.
