Versatile Spray Adhesives find a wide range of applications offering a rapid, strong bond with the lesser curing time. These adhesives also provide resistance from heat and moisture and are suitable for a broad application scope such as building & construction, automotive, paper & packaging, leather & footwear, and others. Other application areas include foam, plastic, carpets, and assembly areas. As a result, the Spray Adhesive Market enjoys healthy growth, worldwide.
Considering the rapid market expansion, Market Research Future (MRFR) in its recently published study report, asserts that the Global Spray Adhesive Market is forecasted to grow exponentially by 2023, registering a staggering CAGR during the review period (2017-2023). The packaging sector is another profit-driven application area of Spray Adhesive, driving the demand hugely.
Increasing demand from the burgeoning construction sector is propelling the market growth majorly, creating a massive demand for Spray Adhesive. Moreover, the substantial investment made into R&D activities to bring improvement to the existing product as well as new product developments is estimated to fuel the growth of the market.
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Spreading awareness towards the harmful effects of VOC remittance has reduced the use of solvent-based Spray Adhesives, boosting the consumption of hot melt and water-based adhesives on the other hand. Increasing use of Spray Adhesive in repairing hoardings and other interior accessories in the automotive industry is estimated to fuel the market demand over the forecast period.
Global Spray Adhesive Markets – Segments
MRFR has segmented the report into four key dynamics for the convenience of understanding.
By Technology: Water, Solvent, and Hot-Melt among others.
By Chemistry: Epoxy, Polyurethane, Synthetic Rubber, and Vinyl Acetate Ethylene, among others.
By Application: Paper & Packaging, Building & Construction, Automotive, Leather & Footwear, and Woodworking among others.
By Regions: North America, Europe, APAC and the Rest-of-the-World.
Global Spray Adhesive Markets – Geographical Analysis
Globally, the Asia Pacific region dominates the Global Spray Adhesive Market owing to the augmenting demand from various applications such as automotive, building & construction, and paper & packaging among others. The burgeoning automotive industry in the region is expected to generate enormous demand for spray adhesive during the review period.
Consequently, countries such as China, Vietnam, and India, backed by their growing automotive sectors contribute majorly to the market in the region. Furthermore, the availability of cost-competitive workforce and raw materials is a key driving force behind the market growth in the region.
The North American Spray Adhesive Market is emerging as the fastest growing market accounting for a substantial market share on the global platform. Factors such as the increased consumption of this adhesive in various industries including paper packaging substantiate the market growth in the region. Furthermore, the resurging industrial sector coupled with escalating investments to revitalize building & construction sector drive the market growth in the region. Countries such as the U.S, Canada, and Mexico account for the major contributors to the growth of the regional market.
The European Spray Adhesive Market is emerging as one of the promising markets, globally, due to the augmenting demand from the well-developed end-use industries and increasing expenditure on R&D and innovation. Besides, the growing consumption of the product in the automobile sector has propelled the market growth to an extent. Spray Adhesive Market in Russia, Spain, Germany, and the U.K, driven by growing innovation and technological advancement are supporting the market growth.
Global Spray Adhesive Markets – Competitive Analysis
The highly competitive Spray Adhesive Market appears to be fragmented due to many large and small key players alongside the new entrants forming a competitive landscape. Significant investments are made into R&D activities to develop technically advanced materials.
Some of the key strategies traced from the analysis of recent proceedings of the key players include agreement & partnership, product launch, expansion, and acquisition. Also, developing state of the art manufacturing facilities and strong sales and distribution network are other key strategies helping the key players to acquire the leadership position in the market.
Key Players:
The Global Spray Adhesive Market is driven by some of the leading players including AFT Aerosols (U.K.), Gemini Adhesives Ltd. (U.K), Phillips Manufacturing (U.S.), Henkel AG & Co. KGaA (Germany), 3M (U.S.), H.B.Fuller (U.S.), BASF SE (Germany), Avery Dennison Corporation (U.S.), Bostik S.A. (France), UniSeal, Inc. (U.S.), ND Industries, Inc. (U.S.), Ashland, Inc. (U.S.), Sika AG (Switzerland), Beardow Adams (U.K), Eastman Chemical Company(U.S.).
Industry/ Innovations/ Related News:
March 27, 2018 – 3M (US), a leading global player introduced spray adhesive for infusion applications. Originally titled as ‘SPRAYABLE ADHESIVES & SPRAY EQUIPMENT’, the new product is a high tack composite spray adhesive for infusion composites fabricating applications, particularly in industrial, marine and transportation markets.
March 15, 2018 – Pidilite Industries Limited (India), launched a unique spray adhesive -Fevicol Ezeespray, an innovative format of spray adhesive that offers convenience and speed for pasting laminates. Fevicol Ezeespray offers the convenience of use, increased speed of pasting and reduced setting time.
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To view the original version on ABNewswire visit: Spray Adhesive Market Share, Size, Trend, Consumption Analysis, Brands Statistics and Overview by Global Top Manufacturers 2023
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