According to a new report, published by KBV research, The Global Hot Melt Adhesives Market size is expected to reach $11.7 billion by 2031, rising at a market growth of 4.7% CAGR during the forecast period. In the year 2023, the market attained a volume of 3,115.4 Kilo Tonnes, experiencing a growth of 13.6% (2020-2023).
IoT devices and AI can monitor adhesive bonding processes and detect defects or anomalies in real-time. Sensors can detect variations in adhesive application parameters, substrate quality, or bonding characteristics, triggering alerts or adjustments to maintain product quality standards. IoT sensors installed on adhesive application machinery can continuously monitor equipment performance and detect signs of potential failure or maintenance needs.
The Ethylene-vinyl Acetate (EVA) segment is registering a strong potential in the Global Hot Melt Adhesives Market by Product in 2023, thereby achieving a market value of $4.0 billion by 2031. EVA-based hot melt adhesives are commonly used in woodworking and furniture manufacturing for edge banding, veneer bonding, laminating, and assembly applications. They offer strong, durable bonds with good heat resistance and flexibility, making them suitable for bonding wood, veneers, laminates, and other materials used in furniture production.
The Woodworking segment is registering a CAGR of 5% during (2024 - 2031). Hot melt adhesives are easy to use and apply in woodworking. They can be applied using simple handheld glue guns or automated dispensing equipment, allowing for precise adhesive application and control. Additionally, hot melt adhesives do not require extensive clamping or curing time, reducing assembly time and labor costs in woodworking operations. Their clean application also minimizes mess and waste compared to traditional adhesives.
Full Report: https://www.kbvresearch.com/hot-melt-adhesives-market/
The Asia Pacific region dominated the Global Hot Melt Adhesives Market by Region in 2023 and would continue to be a dominant market till 2031; thereby, achieving a market value of $5.4 Billion by 2031. The North America region is experiencing a CAGR of 4.2% during (2024 - 2031). Additionally, The Europe region would exhibit a CAGR of 4.4% during (2024 - 2031).
By Product (Volume, Kilo Tonnes, USD Billion, 2020-2031)
By Application (Volume, Kilo Tonnes, USD Billion, 2020-2031)
By Geography (Volume, Kilo Tonnes, USD Billion, 2020-2031)
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