Hot melt adhesive is a plastic solid adhesive, with thermoplastic resin as the main component, adding plasticizer, tackifying resin, antioxidant, flame retardant, filler, and other parts, after melt mixing. It is made of non-toxic, solvent-free, convenient transportation and storage, fast bonding speed, high strength, and so on. Acrylic-based hotmelt resins provide excellent adhesion and cohesion properties to a wide variety of low surface energy substrates.
The global acrylic resin hotmelt adhesive agent market is likely to grow at a significant CAGR of over the forecast period, 2020-2027. The major factors are the growing demand for the acrylic resin to manufacture hotmelt pressure-sensitive adhesives. Additionally, the surge in usages of acrylic resin hotmelt adhesive agent in packaging, construction, automotive, nonwoven/hygiene, furniture, footwear, book & paper binding, and electronics will accelerate the market growth in the future periods. Further, the surge in awareness about the environmental pollution, and the government’s regulations for reducing the volatile organic compound (VOC) content and carbon footprints will spur the global acrylic resin hotmelt adhesive agent market size. The increasing applications of hotmelt adhesive agents in packaging, furniture, bookbinding, and footwear industries are expected to bolster the growth of the market.
Moreover, the rising demand for acrylic resin hotmelt adhesive agents in food & beverage industries focusing on sustainable packaging and offers high shelf-life, especially in ready-to-eat food/beverages, will augment the robust growth of the market. Furthermore, the swelling awareness of ecofriendly materials such as bio-based adhesive will enable the end-user industries to minimize their environmental concern. These factors are projected to trigger the growth of the global acrylic resin hotmelt adhesive agent industry in the analysis timeframe. The growing demand for hot melt adhesives from applications such as packaging solutions, nonwoven hygiene products, and consumer DIY will boost market expansion. The upsurge in the use of adhesive resin in the plastic industry to act as a binding agent to enhance the tensile strength of the plastic is anticipated to fuel the market growth across the globe in the coming years. Additionally, the growing applications of adhesive resins in the transportation industry in the manufacturing of abrasive and aerospace components due to its efficient sealing feature will propel the global acrylic resin hotmelt adhesive agent market share.
The carton packaging process in various industries has begun to use hot melt adhesives to seal the boxes. Large-scale sealing can use automatic hot melt adhesive machines and production line matching box sealing. Small-scale sealing can use manual hot melt adhesive machine to seal the boxes. The automatic hot melt adhesive machine has more significant advantages: the automatic hot melt adhesive machine is suitable for high-speed, large-scale production, with high bonding strength and beautiful appearance. The carton is not easy to deform and crack. The hot melt adhesive used by the hot melt adhesive machine is environmentally friendly, non-toxic and tasteless, and can be used for carton packaging in contact with food, safe.
Based on the active content, the global acrylic resin hotmelt adhesive agent market classified into up to 20 percent, 21 – 40 percent, and above 40 percent. The above 40 percent segment is expected to be the highest revenue share for acrylic resin hotmelt adhesive agent during the forecast period. The key factors are the cost-effectiveness and ease of manufacturing. It is used widely in packaging, furniture, bookbinding, and footwear industries.
Based on the application, the global acrylic resin hotmelt adhesive agent market segregated into automotive, medical, infrastructure, consumer goods, construction, food beverages, and personal care. The automotive segment held a higher market share in 2019 and expected to dominate the global acrylic resin hotmelt adhesive agent market by 2027. It is due to the growing application of acrylic resin hotmelt adhesive agent in automotive assembly, interior bonding, wire harnessing, cable mounting, etc. It is used in wire harnessing and cable mounting and is replacing screws and mechanical fasteners in interior bonding applications.
The food and beverages will grow at a momentous CAGR in the forecast period when used in the packaging of food and beverages.
By geography, the global acrylic resin hotmelt adhesive agent market segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. Europe will capture a prominent share of the acrylic resin hotmelt adhesive agent market in 2019. Due to the presence of many adhesive and tape manufacturing companies, there is a strong demand for acrylic resin hotmelt adhesive agents from the automotive industry, and Europe has a strong automobile market.
The Asia Pacific dominated the acrylic resin hotmelt adhesive agent market by 2027. Due to the massive growth of end-user industries such as automotive, construction, packaging, and consumer goods in developing countries, packaging solutions, and nonwoven hygiene products are increased.
Companies such as BASF SE, Mitsubishi Chemical Holdings Corporation, DIC Corporation, Estron Chemicals Inc., Toyochem and Pioneer Chemical Co., Ltd., are the key players in the global acrylic resin hotmelt adhesive agent market.
By Active Content