The global reactive hot melt adhesives market size was USD 1.6 billion in 2022 and is projected to reach USD 2.6 billion by 2028, at a CAGR of 7.5% between 2023 and 2028. Superior properties in comparison to conventional adhesives, growing demand for lightweight and low-carbon emitting vehicles, and increasing demand from construction and woodworking industries are the key factors driving the market.
The key players following the strategies between 2018 to 2023 Henkel AG & Co. KGaA (Germany), The Dow Chemical Company (US), H.B. Fuller Company (US), Jowat SE (Germany), and 3M (US). The companies are majorly following new product launch, acquisition, agreement, collaboration, partnership, innovation, and expansion as the strategy to grow and expand the market.
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Henkel has a worldwide presence with a diverse portfolio spanning homecare, laundry, cosmetics, and adhesives. The company is organized into four key segments: Adhesive Technologies, Laundry & Home Care, Beauty Care, and Corporate. Adhesive Technologies, a global leader, produces adhesives, sealants, and functional coatings for consumers, craftsmen, and industrial businesses across various applications. In May 2022, Henkel upgraded its PUR hot melt adhesive solutions for flat pasting and wrapping, launching the outstanding series of flat pasting adhesive TECHNOMELT PUR 4506 and the newly upgraded wrapping adhesive TECHNOMELT PUR 4916.
Detmold-based Jowat SE is a prominent provider of industrial adhesives. The applications span diverse sectors, including woodworking, furniture manufacturing, paper and packaging, graphic arts, textiles, automotive, and the electrical industry. With a workforce of 1,250 employees, this adhesive powerhouse manufactures an impressive 100,000 tons of adhesives annually. Jowat's expansive global sales structure, comprising 23 Jowat sales organizations and partner companies, ensures localized service and close customer connections. In July 2022, Jowat announced a new expansion to its Jowat-Toptherm product line with a new optimized polyolefin (PO) hot melt adhesive, the Jowat-Toptherm 237.50. This new adhesive Toptherm 237.50 may be used in a number of applications. These include special requirements for bonding performance and high esthetic standards such as zero joint appearance requirements. The adhesive has high heat resistance, high bond strength coupled with optimized application amounts, reduced stringing, and a wide range of adhesions make this adhesive a competitor to PUR hot melt systems.
Reactive Hot Melt Adhesives Market by Resin Type (Polyurethane, Polyolefin), Substrate (Plastic, Wood), Application (Automotive & Transportation, Doors & Windows, Furniture & Upholstery, Lamination, Textile), & Region - Global Forecast to 2028
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