The reactive hot melt adhesives market is projected to grow from USD 1.2 Billion in 2020 to USD 1.8 Billion by 2025, at a CAGR of 8.3% between 2020 and 2025. APAC is estimated to be the largest consumer of reactive hot melt adhesives. The global reactive hot melt adhesives market is driven by the growing automotive, woodworking, and construction industries.
North America is the leading market for reactive hot melt adhesives. The North American market for reactive hot melt adhesives is growing at a moderate rate, with the maturity of the automotive, woodworking, and construction sectors. The North American automotive industry has been through an economic downturn. However, the decrease in unemployment rates and the increase in per capita income have increased the overall demand for automobiles in the region.
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The key players operating in the market are Henkel AG & Co. KGaA (Germany), H.B. Fuller Company (US), 3M Company (US), and Jowat SE (Germany). These players have adopted various strategies, such as merger & acquisition, investment & expansion, and new product launch to grow in the market. New product launch was the key strategy adopted by the major players between 2016 and 2020. This strategy helped companies enhance their global presence.
Henkel (Germany) is engaged in consumer and industrial businesses. The company operates through various segments, including adhesive technologies (adhesives, sealants, and surface treatments for consumer and industrial purposes); laundry & home care (household cleaning products, such as laundry detergent and dishwashing liquid), beauty care (beauty & oral care products, such as shampoos, toothpastes, hair colorants, and shower products), and corporate. The adhesive technologies segment of the company is a leader in the adhesives market across various end-use industries, globally. The company manufactures reactive hot melt adhesives under this segment and markets them under brands Technomelt and Loctite. Henkel has operations in North America, Latin America, APAC, Europe, the Middle East, and Africa. The company focuses on R&D and investment to maintain its leading position in the adhesives business. In February 2020, Henkel Adhesives Technologies opened its new production facility in Kurkumbh, India. The unit aims to serve the growing demand from industries for high-performance solutions in adhesives, sealants, and surface treatment products in India. It also enables a wide range of Industry 4.0 operations and meets the highest standards for sustainability.
H.B. Fuller Company manufactures, markets, and sells adhesives, sealants, paints, and other specialty chemical products across the globe. The company develops adhesives products for manufacturing common consumer goods, including food and beverage packaging, disposable diapers, windows, doors, flooring, appliances, sportswear, and footwear. It provides its industrial and performance adhesives products for applications in various markets, including assembly, packaging, converting, nonwoven & hygiene, performance wood, flooring, textiles, graphic arts, and envelope markets. It manufactures reactive hot melt adhesives using different technologies and for various applications. The company also has its operations spread across North America, Latin America, Europe, the Middle East and Africa, and APAC. In April 2019, H.B. Fuller announced a product launch named Rakoll 5010, a low monomer emission reactive hot melt adhesive at Ligna 2019, one of the world’s leading trade fairs for woodworking. This product helps in reducing hazardous emissions in finished goods, addressing growing demand among wood furniture and flooring manufacturers.
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