The global Hot Melt Adhesives (HMA) market is projected to reach USD 9.46 Billion by 2022 at a CAGR of 6.5%, in terms of value. The HMA market has witnessed high growth in recent years, which is projected to continue in the coming years as well. HMAs are used in a wide range of applications such as packaging solutions, nonwoven hygiene products, wood & furniture, bookbinding, and others as it imparts properties such as enhanced processability, performance, and appearance of the product.
The main resin types are Ethylene-Vinyl Acetate (EVA), Styrenic Block Copolymers (SBC), Amorphous Poly-Alphaolefin (APAO), Metallocene Polyolefin (mPO), other Polyolefins (POP, PE, others), polyurethane, polyamide, Polyvinyl Acetate (PVA), and acrylic, among others. EVA is projected to lead the type segment of HMA, in terms of value and volume, during the forecast period. This is due to the wide usage of EVA in the manufacture of HMAs for various applications. The cost effectiveness of EVA over other types, is also leading to the high demand for the manufacture of HMAs.
HMAs are used in various application segments such as packaging solutions, nonwoven hygiene products, furniture & woodwork, and bookbinding, among others considered in the report. In 2016, the packaging solutions application accounted for the largest market share, in terms of value and volume. HMA is best suited for the manufacture of packaging solution products, especially food packaging and specialty packaging.