NEW YORK - May 11, 2021 - With the increasing disposable income around the world, industrialization activities are picking up. This is eventually leading to the growth of the packaging industry, as anything that leaves a factory needs to be packaged, to protect it from the elements till it reaches the end customer. An important raw material required for packaging, both rigid and flexible, is the adhesive. Presently hot melt adhesives, which are available as solid, cylindrical sticks, to be applied by being heated up inside a gun, are becoming popular.

Hence, as per P&S Intelligence, the booming packaging industry will take the hot melt adhesives market value from $7,717.0 million in 2019 to $12,761.3 million by 2030, at a 6.1% CAGR between 2020 and 2030. Within the packaging sector, the usage of such materials for food and beverage packaging is burgeoning. With the increasing purchasing power of people, especially in developing countries, the consumption of packaged food and beverage products, such as potato chips, cold drinks, bakery and confectionery products, ready-to-eat food, biscuits and cookies, and other snacks, is increasing.

Furthermore, the industry is predicted to attain a valuation of $204.8 billion by 2025. As packaged goods require both rigid and flexible packaging that incorporate the usage of hot melt adhesives, the growing popularity of e-commerce is positively impacting the sales of hot melt adhesives across the globe. Depending on resin type, the hot melt adhesives market is classified into styrenic block copolymer (SBC), EVA, polyamide (PA), polyurethane (PU), metallocene polyolefin (MPO), and amorphous polyalphaolefin (APAO).

Out of these, the EVA category registered the highest growth in the market in the past years. This was due to the various advantages of these adhesives over the other variants such as their faster setting time, suitability for several large-temperature-range applications, and longer shelf life. Geographically, the hot melt adhesives market (https://www.psmarketresearch.com/market-analysis/hot-melt...) registered the highest growth in the Asia-Pacific region in the years gone by and this trend is predicted to continue in the upcoming years as well.

Thus, it can be safely concluded that the market will demonstrate substantial growth all over the world in the upcoming years, mainly because of the rising requirement for packaged goods and the surging popularity of e-commerce across the world.

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Vijay Kumar