Polyethylene terephthalate (PET) recycling has been carried out by various methods, e.g., mechanical recycling, chemical recycling, and energy recovery method. In this study, chemical recycling of PET was carried out by aminolysis using ethanolamine and converted into bis(2-hydroxyethyl) terephthalamide (BHETA). We have studied the effective polymeric catalysis of the aminolytic depolymerization of waste polyethylene terephthalate (PET) using sulfated polyborate producing a broad range of crystalline terephthalamides. The reaction was performed by varying the PET: ethanolamine ratio, reaction time and catalyst. Recycled PET bottles, film, and fibres were used for conversion. A yield of 95 % was obtained for PET: ethanolamine ratio of 1:4 (w/w), with 4 h reaction time, at 160oC with sulfated polyborate as a catalyst. BHETA was characterized with FTIR, 1H,13C NMR, and DSC analysis. BHETA further gets reacted with dimer acid along with Ethylenediamine (EDA) at different molar ratios which produces polyesteramide (PEA) based hot melt adhesive (HMA). Thermal, mechanical, and rheological tests are performed and compared with traditional HMA. The effect on the properties of the hot melt adhesive, such as mechanical properties: tensile strength, shore D hardness, elongation at break; thermal properties: glass transition temperature (Tg), melting temperature (Tm), the heat of crystallization (Hc), crystallization temperature (Tc); adhesion properties: lap shear strength (LSS) and T-peel strength (TPS); rheological properties and degree of crystallinity were investigated. It was observed that the mechanical and thermal properties are increased by optimizing the concentration of BHETA. These HMA materials may have the capacity of being eco-friendly and have high adhesion properties.