Increasing use of spray adhesives across various end-use industries is a key factor driving market growth
The global Spray Adhesives Market size is expected to reach USD 4.32 Billion in 2028 and register a revenue CAGR of 4.5% over the forecast period, according to a latest report by Reports and Data. Market revenue growth is primarily driven by widespread use of spray adhesives across various end-use industries including construction, packaging, automotive transportation, and furniture industry. Increasing investments of governments in countries such as India, China, Indonesia, Philippines, Malaysia, and Thailand for development of infrastructure is expected to boost demand for spray adhesives and drive revenue growth of the market during the forecast period. Installing tiles and carpets, gluing fiberglass, plastics, and insulation of roofing membranes and pipes are significant applications of spray adhesives in the construction industry. In addition, rapidly growing automotive transportation industry, especially in developing countries, is boosting demand for spray adhesives. Ability of spray adhesives to effectively bond automotive headliners, carpet and other fabrics with exceptional strength is resulting in its increasing use in the automotive industry. Spray adhesives have potential to resist deteriorating effects of humidity, moisture, heat, cold and other environmental conditions.
Increasing research development projects for production of high-performance adhesives, which are considered to be an ideal option for bonding paper, carpet, cardboard, urethane foam, fabric, foil, metal, wood, and a variety of other substrates is expected to boost market growth during the forecast period.
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Top Key Players: Henkel AG Co. KGaA, The 3M Company, H.B. Fuller Company, Arkema S.A., Avery Dennison Corporation, Sika AG, Illinois Tool Works Inc., Eastman Chemical Company, AFT Aerosols, and Quin Global.
Further Key Finding from The Report Suggestion:
In September 2019, The 3M Company introduced HoldFast 70, which is a new portable cylinder spray adhesive. The new spray adhesive eases application, increased bonding speed and is versatile. Enhanced features of the product make it suitable for joining construction materials across a wide range of substrates. The market application of spray adhesive includes furniture, construction, prefabricated housing, HVAC, and the production of RVs and specialty vehicles.
Epoxy segment is expected to account for largest revenue share in global spray adhesives market over the forecast period owing to its strong adhesive qualities. Resistance offered by epoxy resins towards heat and chemical applications is boosting its demand among various end-use industries.
Water-based segment is expected to register significant revenue growth over the forecast period. Growing awareness regarding negative effects of volatile organic compounds on human health is boosting the demand for water-based adhesives in comparison to solvent-based adhesives as they contain no volatile organic compounds (VOCs).
Automotive transportation segment is expected to account for a considerable revenue share in global spray adhesives market owing to ability of spray adhesive to effectively bond automotive headliners, carpet, and other fabrics to the body of the vehicle.
Spray adhesives market in Asia Pacific is expected to account for largest revenue share over the forecast period. Rising investment of government of several countries, such as India, China, Indonesia, Philippines, Malaysia, and Thailand for development of infrastructure sector is expected to positively influence the spray adhesives market.
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Market Segmentation:
Resin Type Outlook (Revenue, USD billion; Volume, Kilo Tons, 2018-2028)
- Polyurethane
- Epoxy
- Vinyl Acetate Ethylene
- Synthetic Rubber
Type Outlook (Revenue, USD billion; Volume, Kilo Tons, 2018-2028)
- Water-based
- Solvent-based
- Hot Melt
Application Outlook (Revenue, USD billion; Volume, Kilo Tons, 2018-2028)
- Packaging
- Construction
- Automotive Transportation
- Furniture
- Others
Regional Outlook:
North America (U.S.A., Canada, Mexico)
Europe (Italy, U.K., Germany, France, Rest of Europe)
Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East Africa)
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Key questions covered in the global Spray Adhesives market report:
- What is the expected market size of the global Spray Adhesives market during the forecast period?
- What factors are expected to hamper global Spray Adhesives market growth over the forecast period?
- What key factors are expected to drive global revenue growth between 2021 and 2028?
- Which application segment is expected to dominate other application segments over the forecast period?
- Which region is expected to dominate in terms of revenue during the forecast period?
- What are the key outcomes of Porter’s Five Forces analysis and SWOT analysis?
- Which leading players are operating in the global Spray Adhesives market?
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