Advantages of Hot Melt Adhesives ( HMAs ) Drive the Industry ’ s Growth
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The global HMAs market is expected to garner $ 13.81 billion in revenue by 2028 , registering growth at a CAGR of 6.3 %, says Frost & Sullivan
The market for hot melt adhesives ( HMAs ) will rise by 2028 due to its multiple advantages to customers across industries , finds Frost & Sullivan ’ s recent analysis , Global Hot Melt Adhesives Growth Opportunities . HMAs have several benefits over other adhesive formulations , such as faster drying and setting , cost-effectiveness , and low volatile organic compound ( VOC ) emissions . The global HMAs market is expected to garner $ 13.81 billion in revenue by 2028 from $ 9.03 billion in 2021 , growing at a compound annual growth rate ( CAGR ) of 6.3 %. ment to developing bio-based chemistries in the next two to three years will reduce the carbon footprint and promote sustainability without compromising the efficiency of the production process .”
Dabholkar added : “ HMAs market participants move to address a range of customer demands , such as biobased formulations and heat-resistant products , and encourage them to expand their product portfolios or enter new markets . It will help them establish long-term pricing contracts and exclusive partnerships with local and regional distributors , ensuring import security , supply chain efficiency , and local inventory management for raw materials .”
To tap into the growth prospects of the lucrative HMAs sector , market players should :
• Invest in research and development ( R & D ) efforts and develop products that can effectively resist the negative impact of high operating temperatures on bond strength .
• Develop solutions and chemistries that enable the recycling of bonded products , such as furniture or packaging , and promote the circular economy .
• Make strategic acquisitions to quickly develop a new business / product segment and enter a new market by leveraging an established regional distribution network through an inorganic growth strategy .
Global Hot Melt Adhesives Growth Opportunities is the latest addition to Frost & Sullivan ’ s Chemicals , Materials & Nutrition research and analyses available through the Frost & Sullivan Leadership Council , which helps organizations identify a continuous flow of growth opportunities to succeed in an unpredictable future .
“ The rise of sustainability as a Mega Trend poses a challenge for HMA product development ,” said Ganesh Dabholkar , Chemicals , Materials & Nutrition Research Analyst at Frost & Sullivan . “ However , HMA manufacturers ’ commitwww . frost . com