The polyamide hot melt adhesives market has seen steady growth, projected to increase from $0.59 billion in 2023 to $0.63 billion in 2024, with a CAGR of 6.1%. Factors like chemical durability, growth in the automotive industry, footwear manufacturing, global manufacturing expansion, and sustainable packaging drive this growth.
The polyamide hot melt adhesives market is expected to reach $0.8 billion by 2028, with a CAGR of 6.2%. This growth is attributed to the growth of the packaging industry, increased focus on lightweight aerospace materials, the rise in electric vehicle demand, and growing electronics applications. Notable trends include advancements in manufacturing technologies, 5G integration, packaging innovations, circular economy initiatives, and specialized innovations in applications.
Major Driver In The Polyamide Hot Melt Adhesives Market
The demand for consumer electronics is expected to propel the polyamide hot melt adhesives market. This sector includes devices for everyday use, supported by advancements in technology and increased connectivity. Polyamide hot melt adhesives offer high thermal stability and strong bonds, essential for reliable component assemblies. In May 2023, Japan's electronic equipment production reached 771,457 units, with consumer electronics production rising from 25,268 units in May 2022 to 32,099 units in May 2023. Consequently, the growing consumer electronics demand drives the polyamide hot melt adhesives market, with market size projected to grow from USD 2,547.62 million in 2023 to USD 3,439.61 million in 2024, reaching USD 4,942.09 million by 2028.
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Polyamide Hot Melt Adhesives Market Competitive Landscape
BASF SE, 3M Company, Henkel AG And Co. KGaA, Evonik Industries, Dow Chemical Company, Sika AG, Arkema S.A., Huntsman Corporation, H.B. Fuller Company, Bostik Inc., DuPont, TEX YEAR INDUSTRIES INC., Beardow Adams Ltd., Shanghai Tianyang Hot Melt Adhesive Co. Ltd., Jowat SE, Bühnen GmbH & Co. KG, Palmetto Adhesives Company, Schaetti, Sipol, Huate Bonding Material, Shanghai Tianyang, Bond Tech Industries
Key Polyamide Hot Melt Adhesives Market Trend
Companies in the polyamide hot melt adhesives market are developing hot melt label adhesive solutions to improve durability, performance, and versatility across a wide range of labeling applications. A hot melt label adhesive solution is a heat-activated adhesive for applying labels. For example, in April 2023, Avery Dennison and Dow launched an innovative hot melt adhesive to enhance the recyclability of packaging. This adhesive enables the mechanical recycling of polyolefin filmic labels and polypropylene (PP) or polyethylene (PE) packaging in a single stream, treating them as a mono-material. It is the first olefinic hotmelt adhesive designed for chilled food applications on the label market, approved by Recyclass for recycling in the high-density polyethylene (HDPE) colored stream in European markets.
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Global Polyamide Hot Melt Adhesives Market Segmentation
The polyamide hot melt adhesives market covered in this report is segmented –
1) By Type: Granules, Powder, Other Types
2) By Form: Thermosetting, Thermoplastic
3) By Application: Shoes And Textile, Automotive, Electrical, Woodworking, Other Applications
By Geography:The regions covered in the polyamide hot melt adhesives market report areAustralia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Asia-Pacific was the largest region in the polyamide hot melt adhesives market in 2023, and is expected to be the fastest-growing region in the forecast period.
The Polyamide Hot Melt Adhesives Global Market Report 2024 furnishes information about the global polyamide hot melt adhesives market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
