Reactive Hot Melt Adhesives Market
Dublin, Jan. 17, 2024 (GLOBE NEWSWIRE) -- The "Reactive Hot Melt Adhesives Market by Resin Type (Polyurethane, Polyolefin), Substrate (Plastic, Wood), Application (Automotive & Transportation, Doors & Windows, Furniture & Upholstery, Lamination, Textile), & Region - Global Forecast to 2028" report has been added to ResearchAndMarkets.com's offering. Best Melamine Polyphosphate
The reactive hot melt adhesives market size is projected to reach USD 2.6 billion by 2028 at a CAGR of 7% from USD 1.6 billion in 2022.
Reactive hot melt adhesives are widely used in the automotive industry for bonding various components, including plastic and metal parts. They contribute to structural integrity, noise reduction, and overall assembly efficiency.
The key companies profiled in this report are Henkel AG & Co. KGaA (Germany), The Dow Chemical Company (US), H.B. Fuller Company (US), Jowat SE (Germany), and 3M (US).
Polyolefin is the fastest-growing resin type segment of reactive hot melt adhesives market.
Polyolefin-based reactive hot melt adhesives offer many advantages, including excellent bond strength, cost-effectiveness, reduced VOC emissions, and fast setting, etc. In the current scenario, a limited number of companies are using polyolefin chemistry for manufacturing and few companies are using polyolefin chemistry to manufacture moisture-cured adhesives.
Plastic accounted for the largest substrate segment of reactive hot melt adhesives market.
Plastic is the largest substrate segment in the overall market. Industries utilize over 4,500 types of plastics, with ongoing developments in formulating new plastic materials. The processing and application of these plastics vary, and not all respond uniformly to bonding. Challenges like poor compatibility, surface wetting, and inert surfaces may arise during plastic bonding. Reactive hot melt adhesives undergo a reactive process, including crosslinking, when exposed to heat. This process enhances the bond's strength and durability, a crucial aspect for applications requiring a robust connection, such as assembling plastic components in automotive or electronics.
Automotive & Transportation, by application accounted for the largest segment of reactive hot melt adhesives market
Rising demand for lightweight and fuel-efficient vehicles is encouraging automobile manufacturers to adopt advanced materials, including composites, which can be bonded by adhesives. This, in turn, is increasing the demand for reactive hot melt adhesives, which are increasingly replacing mechanical fasteners, such as screws, welds, bolts, and nuts. The application of reactive hot melt adhesives in the automotive industry has resulted in cost savings, which are also driving the market in the automotive industry.
Asia Pacific, by region is forecasted to be the fastest segment of reactive hot melt adhesives market during the forecast period.
Asia Pacific has been the most favorable destination for the manufacturers of reactive hot melt adhesives, even during the global economic slowdown. The growing middle-class population in numerous Asia Pacific countries has elevated consumer spending, resulting in increased demand for products containing reactive hot melt adhesives, including electronics, appliances, and furniture. To leverage cost advantages and access the expanding market, several multinational companies have established or expanded their manufacturing facilities in the Asia Pacific region, further fueling the demand for reactive hot melt adhesives.
Estimated Market Value (USD) in 2023
Forecasted Market Value (USD) by 2028
Reactive Hot Melt Adhesives Market to Witness Moderate Growth Between 2023 and 2028
Polyurethane to be Dominant Segment Between 2023 and 2028
China Dominated Market in Asia-Pacific
Reactive Hot Melt Adhesives Market to Witness Higher Growth in Developing Countries
Automotive & Transportation to Register Highest CAGR in Reactive Hot Melt Adhesives Market
India to Emerge as a Lucrative Market for Reactive Hot Melt Adhesives Between 2023 and 2028
Superior Properties Over Conventional Adhesives
Growing Demand for Lightweight and Low-Carbon Emitting Vehicles
Availability of Alternative Adhesive Technologies
High Curing Time Compared to Other Technologies
Technological Advancements in Reactive Hot Melt Adhesives
Increasing Demand in Emerging Economies
Low Open Time for Application
Trends and Disruptions Impacting Customer Business
Key Stakeholders & Buying Criteria
Key Stakeholders in Buying Process
Reactive Hot Melt Adhesives Market: Average Selling Price Trend, by Region
Average Selling Price Trend, by Resin Type
Average Selling Price Trend, by Substrate
Average Selling Price Trend, by Application
Average Selling Price Competitiveness in Reactive Hot Melt Adhesives Market, by Major Countries
Average Selling Price Trend of Key Players, by Application
Export Scenario of Reactive Hot Melt Adhesives
Import Scenario of Reactive Hot Melt Adhesives
Global Economic Scenario Affecting Market Growth
Regulations Related to Reactive Hot Melt Adhesives
Regulatory Bodies, Government Agencies, and Other Organizations
Key Conferences & Events in 2023-2024
Cherng Tay Technology Co. Ltd.
Coating P. Materials Co. Ltd.
Tianyang New Materials (Shanghai) Technology Co. Ltd.
Wenzhou Huate Hot Melt Adhesive Co. Ltd.
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