The HMA market is projected to grow from USD 9.1 Billion in 2022 to USD 11.4 Billion by 2027, at a CAGR of 4.8% between 2022 and 2027. Asia Pacific is estimated to be the largest consumer of HMA. The global HMA market is driven by the growing demand for HMA in DIY applications.
The key players operating in the market are Henkel AG Co. KGaA (Germany), H.B. Fuller (US), Jowat SE (Germany), 3M (US), and Arkema (Bostik) (France). These players have adopted various strategies, such as acquisition, expansion, and new product launch to grow in the market. Acquisitions is the key strategy adopted by the major players between 2016 and 2022. This strategy helped companies enhance their global presence.
3M started a small-scale mining venture more than a century ago, but today more than 60,000 products of the company are used in homes, schools, hospitals, and other industries. The company has managed to remain in the Fortune 500 list repeatedly because of its scientific, technical, and marketing innovations. It is performing its corporate operations in 70 countries, and sales in 200 countries, with more than 90,000 employees. The products are segmented in four main units – Safety Industrial; Transportation Electronics; Healthcare; and Consumer. The company has an extensive and robust product portfolio, along with the strong RD capabilities. It has established vast distribution channels in different geographic locations to serve its customers worldwide.
Jowat SE manufactures and distributes adhesives globally. The company operates through eight product segments: HMAs (EVA, PA, PO, and PSA), reactive HMAs, dispersion adhesives, solvent-based adhesives, reactive 1k and 2k systems, PSA, primer, and other adhesives/special products. The company offers its hot melt products through the HMAs (EVA, PA, PO, and PSA) segment.
The application areas of HMA offered by the company include woods, furniture, construction, and packaging. The company operates in North America, Europe, Latin America, Asia Pacific, and Africa with its customer base spread across 80 countries. It has 21 affiliates that cater to various customers worldwide.