Spray Adhesive Market Trends

Spray Adhesive Market Overview 

The global Spray Adhesive Market is anticipated to expand market value at a CAGR of 3.20% during the forecast timeframe.

The same market is estimated to hold a significant market size during the estimated period. The spray adhesives are versatile adhesives with a good bond with a variety of lightweight materials. These spray adhesives provide an aggressive and fast track for a quick bond that helps to decrease the time taken to set up the adhesive. Moreover, the spray adhesives are suitable for wide applications like automotive, leather & footwear, building & construction, paper & packaging, and others because they resist moisture and heat, forming a strong permanent bond. Apart from these, there are other applications of Spray Adhesive that include carpets, foam, assembly areas and plastics. 

The countries like India, Brazil and China have a huge demand for vehicles, which is estimated to enhance the demand for spray adhesives in the review timeframe. However, the demand for the vehicle is boosting due to the increasing disposable incomes of the middle-class people and the rising popularity of electric cars in various countries. In addition, the usage of Spray Adhesive is increasing in packaging materials like envelopes, tapes, and labels, which is projected to grow the global market demand. Moreover, the presence of excellent properties like a strong bond, fast track, and excellent durability at the higher temperature leads to expanding the consumption of spray adhesive and enhancing the global Spray Adhesive Market Growth during the review period of 2017 to 2023. 

The Spray Adhesive is used extensively in a different types of furniture manufacturing. Moreover, the expansion of the woodworking industry across the developing economies is anticipated to enhance the global market growth during the analysis period. As per the Spray Adhesive Market Forecast report, the current market is highly contributed by the intended audience like Spray Adhesive manufacturers, potential investors, traders and distributors of spray adhesive, nationalized laboratories, raw material suppliers, and production process industries. 

COVID-19 Analysis 

In 2020, the global Spray Adhesive Market was negatively affected due to the outbreak of covid-19. At this time, the worldwide market has witnessed disruption in the manufacturing and supply chain. 

However, new innovation and safety measures have been taken by the market leaders to stable the marketing situation. Further, it is predicted to enhance the market size in the forecast timeframe. 

Chief Factors Existing In the Market 

Key Market Drivers The demand for Spray Adhesive Market is expanding across the world due to the rising demand from the growing constructions sector. Moreover, the expansion of the packaging industry and increasing investment in the building & construction sector in the developing regions are projected to boost the global market growth during the predicted period. Apart from these, the usage of solvent-based spray adhesive has been reduced, and the consumption of water-based products and hot melt has been boosted due to the increasing awareness about the harmful effects of a volatile organic compound. This is expected to drive the global Spray Adhesive Market growth during the research period. Further, the worldwide market demand is fueling due to the rising usage of Spray Adhesive in repairing hoardings and other interior accessories. Market Challenges The global Spray Adhesive Market might experience challenges due to the maintenance of performance to meet the environmental standards. In addition, the volatility of raw material prices can be another biggest challenge for the worldwide during the research period. Market Opportunities The growing demand from the rising constructions sector is expected to bring lucrative opportunities for the market.Additionally, the global Spray Adhesive Market is generating significant opportunities for the market players and manufacturers due to the rising demand for eco-friendly and low-VOC adhesives.Market Restraints The global Market growth might experience restraints due to the volatility of raw material prices across various countries.Moreover, the stringent government rules relating to the use of spray adhesive might hamper the growth of the global market during the review period. 

Cumulative Evaluation Of The Market 

The Spray Adhesive Market Value is expected to grow in the upcoming years due to its growing application across various industries. 

The regions like the Asia Pacific, North America, and Europe are largely contributing to enhancing the global market growth in the further coming years. 

Market Segmentation 

According to the Spray Adhesive Market Analysis report, the worldwide market has been classified based on chemistry, technology, and application. 

By chemistry:The global Market has been segregated into polyurethane, epoxy, vinyl acetate-ethylene, synthetic rubber, and others based on the chemistry segment.Of these, the synthetic rubber spray adhesives are expected to generate the largest Spray Adhesive Market Shareduring the predicted period due to the increasing demand for vinyl acetate-ethylene and polyurethane. By technology:The global Spray Adhesive Market has been classified into hot- melt, solvent, water, and others in terms of the technology segment. Among these, the hot melt spray adhesives segment is registered to be the fastest-growing market type during the assessment period. This segment is expanding due to the tightening environmental norms relating to spray adhesive’sVOC content. Here, the hot melt spray adhesive has very little VOC content as it does not use solvent or water, making it more eco-friendly. By application:Depending on the application segment, the worldwide Spray Adhesive Market has been divided into woodworking, building & construction, paper & packaging, leather & footwear, automotive, transportation, etc. Out of all, the transportation segment is estimated to acquire the largest market share during the review period. On the other hand, the building and construction segment is projected to show significant growth in the forecast period. 

Global Spray Adhesive Market Share by Application (2016), (%): 

Regional Analysis 

Regionally, the Spray Adhesive Market has been segmented into different areas Europe, Asia Pacific, North America, Latin America, the Middle East & Africa, and others.

Of these, the Asia Pacific market for Spray Adhesive is anticipated to register the fastest CAGR in the assessment timeframe because of the rising demand for spray adhesive in various applications like automotive, building and construction, paper and packaging, and others. The emerging economies of countries like China, Vietnam, and India are increasing the spray adhesive demand, which is resulting in growth in the production and sales of automobiles. Moreover, this regional market growth is fueling due to the ease in availability of raw materials, relatively cheap labor cost, and employment of new development strategies by the key players. 

Apart from the Asia Pacific region, the North American market for Spray Adhesives is projected to show significant growth during the forecast timeframe because of the increasing investment in the building and construction sector in the region. Moreover, the countries like Mexico, Canada, and the U.S. are projected to contribute highly to the regional market in the further coming years. However, European countries like Germany, Spain, Russia and the U.K. are emerging as the prominent consumer market because of the rising expenditure on innovation and research and development as well as developed end-user industries. Further, moderate growth has been evident in Latin American countries like Argentina, Brazil and Colombia as the regional key players have adopted the new business models. 

Competitive Intensity Within The Industry  

According to the Spray Adhesive Market Outlook report, the current market has some strong market players who have shown significant competition to show their presence. These market players include:

• AFT Aerosols (U.K.), 


• Gemini Adhesives Ltd. (U.K.),


• 3M (U.S.), 


• Phillips Manufacturing (U.S.),


• H.B.Fuller (U.S.), 


• Henkel AG & Co. KGaA (Germany),


• BASF SE (Germany),


• 
  Eastman Chemical Company(U.S.), 


• Sika AG (Switzerland),


• AVERY DENNISON CORPORATION. (U.S.),


• N.D. Industries, Inc. (U.S.), 


• Bostik S.A. (France),


• Ashland, Inc. (U.S.), 


• UniSeal, Inc. (U.S.),


• Beardow Adams (U.K.).

These market players are working hard to propel the global Spray Adhesive Market in the forecast timeframe. For this, these market players are doing mergers and acquisitions, partnerships, new product developments and investing in research and development. 

Recent Market Developments 

• In 2017, the "Automobile Mid and Long-Term Development Plan" was released by the “Made in China 2025” initiative support, which has aimed to make China a strong auto power in the coming 10 years.

Report Overview 

As per the Spray Adhesive Market Trends report, this report is the result of qualitative and quantitative analysis. It shows a significant growth in the global market for spray adhesive. 

Overall, this report has covered the market segmentation, recent developments, regional analysis, market overview, market dynamics, competitive analysis, and covid-19 report. 

Key Industrial Segments 

By chemistry:

• polyurethane, 


• epoxy, 


• vinyl acetate-ethylene, 


• synthetic rubber, 


• others

By technology:

• hot- melt, 


• solvent, 


• water, 


• others

By application:

• wood working, 


• building & construction, 


• paper & packaging, 


• leather & footwear, 


• automotive, 


• others

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