Reactive hot melt adhesives are mainly used for assembly works and reinforcement of decorative edging. These adhesives further aid in joining of other materials with wooden surface and enhance the structural bonding of wood. Reactive hot melt adhesives find their applications in various end-user industries such as textile automotive, packaging, footwear, and others.

Market Outlook

The global reactive hot melt adhesives market has witnessed significant growth in the recent past, owing to growth of various end-user industries such as furniture, automotive, and packaging in emerging economies According to the Indian Brand Equity Foundation (IBEF), India was fourth largest automobile market and seventh largest manufacturer of commercial vehicles in 2018 with a 8.3% growth in sales. Changing lifestyle and surge in demand for convenient and packaged food products among consumers has provided lucrative growth opportunity for players in the packaging industry. According to the Agricultural & Processed Food Products Export Development, the convenience food market in India was estimated around 20 billion by the end of 2017. This scenario is expected to increase demand for reactive hot melt adhesives from the packaging industry globally during the forecast period.

Market Dynamics

Growing infrastructural activities and residential construction in the emerging economies is expected to be another factor aiding in growth of the market. According to the National Skill Development Corporation (NSDC), the demand for affordable housing is expected to increase from current level in 2017 of 29 million households to around 38 million households by 2030. This has led to surge in demand for different and unique furniture in houses, and this is expected to increase demand for reactive hot melt adhesives. This is expected to foster growth of the global reactive hot melt adhesives market during the forecast period.
Manufacturing companies in different end-user industries such as automotive, furniture, and packaging are increasingly using reactive hot melt adhesives as these exhibit better adhesive properties than conventional adhesives. Reactive hot melt adhesives offer various benefits such high tolerance to extreme temperature ranges, better adhesive properties in lesser quantity, easily applicable, faster curing time which results high production rate, better durability, and strength.

Key Players

Major companies operating in the global reactive hot melt adhesives market include Avery Dennison Corporation, 3M, H. B. Fuller, Henkel, Bostik, Kleiberit, Beardow Adams, DOW Corning, ZheJiang Good Machinery Co., Ltd. , Tex Year Industries Inc., Guangdong Huate Gas Co., Ltd., and Nanpao Resins Chemical Group.
Companies are focusing on expanding their product portfolio by launching new reactive hot melt adhesives-based products, which in turn is expected to foster the market growth over the forecast period. For instance, in April 2019, H.B. Fuller, a global leader in manufacturing and supply of adhesive, launched its new product, Rakoll 5010, which is a low monomer emission reactive hot melt adhesive.

Market Taxonomy

On the basis of product type, the global reactive hot melt adhesives market is segmented into: