Global demand for hot melt adhesives (HMAs) reflects a market still reacting to profound changes and a varied recovery in key end-use segments. These are the conclusions reached by Smithers, a consultancy for the paper, plastics and packaging industry, in a new report released by the company.
Data covering all major HMA chemistries, applications, and regional geographic and national markets across the next five years show global HMA consumption will increase at a compound annual growth rate (CAGR) equivalent to +3.6%, by weight across a five-year study period. This is expected to create a market value of $9.45 billion in 2027 (at constant prices), with consumption increasing to 2.77 million tonnes. The report expects global demand for HMAs to reach a total of 2.40 million tonnes in 2023, worth $8.40 billion.