At 4.4% CAGR, South & Central America Hot Melt Adhesives Market is Projected to be Worth US$ 251.04 Million by 2030, says Business Market Insights

According to Business Market Insights’ research, the South & Central America hot melt adhesives market was valued at US$ 177.52 million in 2022 and is expected to reach US$ 251.04 million by 2030, registering a CAGR of 4.4% from 2022 to 2030. Rising utilization of hot melt adhesives in road marking and changing trend from solvent adhesive to hot melt adhesive are among the critical factors attributed to drive the South & Central America hot melt adhesive market growth.

The use of hot melt adhesives in construction possesses certain advantages over other typical adhesives like solvent-based adhesives. These benefits are the ability to bind different substrates together and a high flexibility. Hot melt adhesives used for road marking are a proprietary & innovative technology and an application process that creates a retro-reflective marking effect on bitumen base roads or concrete surfaces to offer safe night driving. The utilization of polybutene in hot melt adhesives benefits thermoplastic road marking paints since it dries fast with strong adhesion to the road surface. Polybutene further offers good UV and thermal resistance, which helps to reduce the brittle point and modify the softening point, along with an increase in the total hardness of the finishing road mark. A hot melt kettle heats up the road, marking material up to 200°C, and it is then sprayed over the road surface. After it cools down, the paint becomes wear-resistant, quite reflective, and bright. For easy identification of road markings, even in the dark, reflective glass beads are further added since they improve brightness along with durability. Many companies are contributing to hot melt road marking product manufacturing with their novel products. However, as compared to other applications of hot melt adhesives, the road marking application segment will offer growth opportunities for the market players. After the COVID-19 pandemic, it is presumed that construction activities are going to rise again in various economies, and the projects that were postponed will be resumed, which will further influence the market growth for hot melt adhesives.

Further, JiangSu Faer Wax Industry Co., Ltd is offering hot melt marking paint, which is a type of road marking material created by utilizing thermoplastic petroleum resin as the binder, high-quality fillers, and additives as auxiliary. This road marking material has the advantages of quick-drying, smooth construction, good reflection capacity, and long service lifespan, among others. KEMAT Polybutenes company is also offering hot melt road marking paints. KEMAT polybutenes offer an excellent pour-point, which enhances the road marking paint flow even in winter. KEMAT delivers the largest range of viscosities, combining the Polybut along with Polybol Polybutenes with a very narrow MW distribution for the road marking paints. Thermoplastic road marking materials are utilized in several places, such as car parking and roads. The common colors available for road marks are white and yellow. Yellow pigments consist of yellow lead, while white pigments are mostly zinc oxide, titanium dioxide, and lithopone.

On the contrary, low thermal resistance hampers the growth of South & Central America hot melt adhesives market.

Based on product type, the South & Central America hot melt adhesives market is segmented into glue sticks, glue slugs, and others. The glue sticks segment held 65.9% market share in 2022, amassing US$ 116.92 million. It is projected to garner US$ 167.00 million by 2030 to register 4.6% CAGR during 2022–2030.

In terms of type, the South & Central America hot melt adhesives market is segmented into ethylene vinyl acetate, polyolefins, polyamides, polyurethanes, styrene block copolymers, and other. The ethylene vinyl acetate segment held 42.6% share of South & Central America hot melt adhesives market in 2022, amassing US$ 75.58 million. It is anticipated to garner US$ 109.73 million by 2030 to expand at 4.8% CAGR during 2022–2030.

By application, the South & Central America hot melt adhesives market is divided into packaging, construction, automotive, furniture, footwear, electronics, and others. The packaging segment held 29.9% share of South & Central America hot melt adhesives market in 2022, amassing US$ 53.07 million. It is projected to garner US$ 77.03 million by 2030 to expand at 4.8% CAGR from 2022 to 2030.

Based on country, the South & Central America hot melt adhesives market is categorized into Brazil, Argentina, and the Rest of South & Central America. Our regional analysis states that the Rest of South & Central America captured 52.0% share of South & Central America hot melt adhesives market in 2022. It was assessed at US$ 92.34 million in 2022 and is likely to hit US$ 128.74 million by 2030, registering a CAGR of 4.2% during 2022–2030.

Key players operating in the South & Central America hot melt adhesives market are H.B. Fuller Company; Henkel AG & COMPANY, KGAA; Arkema; 3M; Sika AG; Jowat SE; Hexcel Corporation; The Dow Chemical Company; Beardow Adams; Gorilla Glue Company; and Adhesive Technologies, Inc. among others.

• In November-2020, H.B. Fuller launched an innovative hot melt adhesive, Full-Care 5885, to meet the industry’s growing demand for natural-based hygiene articles. The product provides a robust solution for customers looking for more natural-based products.
• In May-2021, Henkel AG & Co. KGaA launched the industry’s first bio-based polyurethane reactive (PUR) hot melt adhesive. The product LOCTITE HHD 3544F is designed for consumer electronics assembly.
• In February-2021, Henkel AG & Co. KGaA launched sustainable packaging hot melt adhesives in a successful partnership with Dow. This new Technomelt Supra ECO range of products has been developed to enable customers to reach their sustainability goals.
• In January-2020, Bostik launched Thermogrip 2356, a new product line for label adhesive, which is specially designed to enhance production line efficiencies and enable sustainable packaging for quick-service restaurant applications. The product is formulated with hot melt pressure-sensitive adhesive technology.
• In August-2019, Jowat SE launched a new Jowatherm GROW product range. These products are bio-based hot melts for environmentally friendly packages.

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