HMAs to Shape the Future of the Industry
Frost & Sullivan's recent analysis, Global Hot Melt Adhesives Growth Opportunities, has demonstrated that the market for hot melt adhesives (HMAs) will rise by 2028 owing to its numerous advantages to customers across industries.
Compared to other adhesive formulations, HMAs have a number of advantages, including quicker drying and setting, lower costs, and low volatile organic compound (VOC) emissions.
Revenue from the global HMAs market is anticipated to increase from $9.03 billion in 2021 to $13.81 billion in 2028, at a compound annual growth rate (CAGR) of 6.3%.
"The rise of sustainability as a Mega Trend poses a challenge for HMA product development," commented Ganesh Dabholkar, Chemicals, Materials & Nutrition Research Analyst at Frost & Sullivan.
"However, HMA manufacturers' commitment 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."
"HMAs market participants move to address a range of customer demands, such as bio-based 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", added Dabholkar.
According to the analysis, market participants should apply the following principles if they want to capitalize on the HMAs sector's growth prospects:
Invest in R&D to create products that can successfully withstand the damaging effects of high operating temperatures on bond strength.
Create strategies and chemistries that support the circular economy and enable the recycling of bonded products like furniture and packaging.
Utilize an established regional distribution network by making strategic acquisitions to quickly develop a new business or product segment and enter a new market.
Global Hot Melt Adhesives Growth Opportunities is the latest addition to Frost & Sullivan's Chemicals, Materials & Nutrition research and analyses, which helps organizations identify a continuous flow of growth opportunities to succeed in an unpredictable future.
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