The global PUR-based reactive hot melt adhesive market is booming at a rapid pace with the high demand from the automotive and electronic industries. Hot melt adhesives are used in the textile, packaging, and paper processing industries for their respective needs. The said market is expected to grow at a whopping CAGR of 7.64%, with a revenue of USD 1401.5 million during 2022-2030, which is way higher than the revenue generated in 2021, which was USD 722.5 million.
The consumer demand for a lightweight and aesthetically good automotive is making the automotive manufacturers think of new and innovative things to make the vehicle lighter and, at the same time, have a good design. For this, manufacturers are incorporating hot melt adhesives in vehicle manufacturing as the PUR-based reactive hot melt adhesives consist the properties such as quick setting, temperature resistance, wear resistance, etc. The hot melt adhesives are also environment friendly, preventing toxic emissions and carcinogenic fumes.
The robust features that the hot melt adhesives come with bring in an additional advantage for the manufacturers. The hot melt adhesives serve a diverse range of applications in every industrial segment. The hot melt adhesives are suitable for any substrates, including composites, plastics, rubber, paper, ceramics, wood, metals, glass, etc. Such hot melt adhesives are applied mostly through the extrusion process or rolling and spraying techniques are also used in some cases depending on the nature of the production of the product.
The packaging and labeling industry has revolutionized its services after the pandemic and now is focussing more on quality and perseverance. With the increase in demand for consumer goods and the modern lifestyle needs, the ready-to-eat food culture has taken the food industry on the edge of the timeline. For this, such delivery parties utilize hot-melt adhesive-made packaging materials that have the properties like temperature and moisture resistance to keep the packed food fresh and live.
Along with this, the eco-friendly model also has a positive impact on the sales and manufacturing of the hot melt adhesives, as it comes with properties that cater to the environment-friendly policies in the industry as well as for non-commercial use.
Got questions about your regional growth of
PUR-based Reactive Hot Melt Adhesive Market?
Just drop us a line or call on +1 646 480 7505
The pandemic led the world to shift their gear in reverse as the lockdown was imposed, and everyone was house-arrested. Businesses suffered huge losses during this period, and so was the common man. The pandemic disrupted the entire global supply chain, disturbing supply and demand. Despite being a harsh situation, many key players in the industry were operating with less workforce. They served the needs of their consumers, and this is where the hot melt adhesive industry leads the workload.
As hot melt adhesives were a good option for medical and packaging product manufacturers, they also saw a decent business during the pandemic. To meet the demand for the hot-melt adhesives, companies are searching for outsourcing partners to operate the major manufacturing sites globally and cater to the needs of their consumers.
With so many adverse effects on the market, still, the PUR-based reactive hot melt adhesive market is expected to recover at a faster rate post the Covid situation as the majority of the manufacturing units are working on an automated system.
The global PUR-based reactive hot melt adhesive market is primarily segmented into North America, Asia-Pacific, and Europe. Asia-Pacific is the most dominant region with expected revenue of USD 630.30 million in 2030 at a CAGR of 11.35%, which took a giant leap from the figures of 2021, which was at USD 239.9 million.
North America is leading technological developments and is one of the key regions producing PUR-based reactive hot melt adhesives. The region accounts for a revenue generation of USD 142.7 million recorded in the year 2021 and is expected to grow at a CAGR of 4.07% in 2030, generating USD 204.34 million.
Europe is the key hub for the global automotive industry and has a huge demand for such hot melt adhesives for the manufacturing of new age vehicles and catering to the demands of their end-users. The European region accounts for a sales figure of USD 99.40 million in 2021 and growing at full pace to reach USD 189.62 million in 2030 at a CAGR of 7.44%
The global competitive players in the market are - BASF SE, 3M, Henkel, Bostik Inc, H B Fuller, Sika AG, Hunstman International LLC, etc.
" Crucial Insights The Report Provides:"
* Known and Unknown Adjacencies Influencing the Growth of Market
* Explorable Revenue Sources
* Customer Behaviour Analysis
* Target Partners
* Customized Geographical Data Based on Customers as well as Competitors
* Analysis of Market Size and CAGR between the Forecast Periods