The non-woven adhesives market size is currently estimated to be worth about U.S. $2.3 billion and is projected reach $3.5 billion by 2025 — at a CAGR of 8.5%, between 2020 and 2025. This is according to a new market research report by MarketsandMarkets.
The ever-increasing urban population is a major factor in the increase in the demand for non-woven hygiene adhesives. The total global population is expected to reach 9.7 billion by 2050. The working-age population is growing in emerging countries rapidly. Projection by the UN shows that one in six people will be over the age of 65 by 2050.
Additionally, a positive shift in living standards is leading to the demand for hygiene products for infant care, feminine hygiene, and medical products. This is propelling the demand for non-woven hygiene adhesives. Moreover, the COVID-19 is increasing the demand for non-woven hygiene adhesives in medical care products.
Impact of COVID-19
According to the IMF, a recession as bad as the global economic crisis of 2008 or worse hit the global economy during 2020. The IMF warned of a total output loss of U.S. $9 trillion in the world economy between 2020 and 2021.
The extent of the economic damage still depends on how the virus spreads throughout America, Europe, and other major economies.
- According to economists, the Chinese economy is likely to be hit further by reduced global demand for its products due to the effect of the pandemic.
- In European countries and the U.S., increasing restrictions on travel and transportation and prolonged lockdown have reduced the demand during 2020. However, the market is expected to recover.
- Central banks have swung into action and are undertaking some combination of sharply reduced policy rates, resumed assets purchase, and liquidity injections. Fiscal authorities have generally lagged but have begun to loosen the purse strings. As per MarketsandMarkets analysis, larger and more targeted spending to the most affected groups is expected.
Stringent government regulations regarding emission of VOCs and production of chemical-based products in developed regions are offering opportunities for global players to invest in emerging economies, where regulations are relatively lax.
The adhesive industry is facing a challenge from regulatory authorities in Europe and North America. Regulators, such as the Control of Substances Hazardous to Health (COSHH), Globally Harmonized System (GHS), and Environmental Protection Agency (EPA). The lengthy regulatory approval process poses challenges for the manufacturers.
Non-woven hygiene adhesives producers in these regions have to evolve their processes to comply with new policies constantly.
What’s interesting is the hot-melt segment is expected to lead the non-woven adhesives market, in terms of volume, during the forecasted period.
Hot-melt-based adhesives are placed in a fluid medium with an absorbent material held within the disposable article. The article changes color when the hot-melt moisture indicator material comes in contact with the source of moisture. Hot-melt adhesives used for disposable articles are based on EVA, SBC, and APAO.