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Global Reactive Hot Metal Adhesives Market Size, Trends & Analysis - Forecasts to 2026 By Type of Substrate (Plastic, Wood, and Other Substrates); By Type of Resin (Polyurethane, and Polyolefin), By Application (Automotive & Transportation, Doors & Windows, Furniture & Upholstery, Lamination, Textile, Assembly, and Other Applications); By Region (North America, Europe, Asia Pacific, MEA, CSA); End-User Landscape, Vendor Landscape, and Company Market Share Analysis & Competitor Analysis
Reactive Hot Metal Adhesives Market Insights
The global reactive hot metal adhesives market is assessed to observe a huge development of CAGR 8.5% during the conjecture time frame (2020-2026). Reactive hot metal adhesives are a combination of hot metal and reactive adhesive which are first heated and then applied in a molten state before processing. The primary factor i.e. the high demand for adhesives from end-user industries like automotive, construction industries, woodworking industries, and among others will help boost the market growth.
The growing demand for lightweight, less carbon-emitting adhesive with high resistance after chemical curing, high production speed in less time, and a wide range of adhesion to different materials are the advantages of hot reactive adhesive over traditional adhesives. Such drivers are relied upon to quicken the development of the market in the conjecture time frame.
Hot reactive adhesives are attracting too many key players due to its non-solvent and low VOC content which also makes it environment-friendly. However, COVID-19 is turned out to be the biggest hurdle for many end-users leading to a temporary shutdown of their production, therefore adversely affecting the sale of hot reactive adhesive products.
Reactive Hot Metal Adhesives Market: By Type of Substrate
Based on the kind of substrate, the market is sectioned into plastic, wood, and different substrates. The plastic substrate is estimated to grow at the quickest rate in the figure time frame because of simple accessibility, lightweight, prevalent execution with low assembling cost. Plastic is generally utilized via car and transportation ventures as plan congregations which improves the interest of the fragment in many end-clients additionally, making enormous space for the plastic substrate market and expected to accomplish better business in contrast with different substrates in coming years.
Reactive Hot Metal Adhesives Market: By Type of Resin
Based on the resin type, the market is segmented into polyurethane and polyolefin. Polyurethane is expected to have a larger market in the projected year as many manufacturers favor liquid-based adhesive with low cost, extraordinary elasticity, more impact, and high strength adhesive bond. Polyurethane covers a wide range of substances such as mineral fiber, cemented materials, ceramics, metal, rigid forms, and recycled materials among others, which widen up its target market and end up generating a bigger global market.
Reactive Hot Metal Adhesives Market: By Application
Based on application, the market is segmented into doors & windows, furniture & upholstery, automotive & transportation, assembly, lamination, textile, and other applications. The automotive & transportation portion will hold the biggest share in the figure time frame. Reactive hot metal adhesives are of great demand in automotive industries for developing lightweight designs, enhancing performance, and replacing metallic components with high-performance adhesives.
Reactive Hot Metal Adhesives Market: By Region
Based on the regional analysis, the market is portioned into Asia-Pacific, Europe, North America, Middle East & Africa, and Central and South America. APAC is relied upon to have the quickest growth rate in the extended years. This is mainly due to the wide range of applications of this market starting from automotive, textiles, construction, and among other industries. North America will follow the same trend as of APAC market during the forecast period. The expansion of automotive, construction, and woodworking industries will accelerate the demand for reactive hot metal adhesives and hence will uplift the market in the NA region.
Reactive Hot Metal Adhesives Market Share and Competitor Analysis
The key players operating in the market include Franklin Adhesives & Polymers, Cattie Adhesives, Chemence, Tex Year Industries Inc., Hitachi Chemical Co., Ltd., Klebchemie GmBH & Co. KG, Daubert Chemical Company, Nanpao Resins Chemical Group, DIC Corporation, SIKA AG, The Dow Chemical Company, Arkema SA, Jowat SE, 3M, Fuller Company, Henkel AG & CO. KGAA, and others.
Please note: This is not an exhaustive list of companies profiled in the report.
Cattie Adhesives launched its new product namely, Metallocene hot metal at a lower cost, with better bond strength, and wide application coverage.
In July 2020, Tex Year Industries Inc. launched an eco-friendly hot metal adhesive which can tolerate high temperature, and be safely used when in contact with food items.
Related Report: Global Liquid Adhesives Market Size, Trends & Analysis - Forecasts to 2026
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The Global Reactive Hot Metal Adhesives Market has been studied from the year 2017 till 2026. However, the CAGR provided in the report is from the year 2018 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the Reactive Hot Metal Adhesives Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the companies and customer analytics.
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