The new report by Expert Market Research titled, ‘Global Spray Adhesives Market Price, Report and Forecast 2023-2028’, gives an in-depth analysis of the global spray adhesives market, assessing the market based on its segments like product, application and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Size (2021): 6.52 billion
• Forecast CAGR (2023-2028): 5.50%
• Forecast Market Size (2027): 8.99 billion
Significant increase in the construction sector throughout the world is one of the primary reasons driving the market’s favourable outlook. Spray adhesives are commonly used to attach laminates, glue drywalls, plasters, fibreglass, ceilings, foams, pipe insulation, roofing membranes, and carpet tiles to construction flooring and roofing.
Furthermore, rising consumer desire for long-lasting packaging solutions is propelling the market forward. In accordance with this, the extensive use of spray adhesives for interior and upholstery applications in vehicles, marine vessels, and aeroplanes is fueling market expansion.
Inflationary disposable incomes and the resulting high demand for automobiles are important factors driving market expansion. These reasons are all contributing to the growth of the spray adhesives market.
Industry Definition and Major Segments
Spray adhesives are glues that are misted onto a surface from a pressurised container. Because of their tiny droplet size, these adhesives are simple to apply and dry quickly.
The market on the basis of products can be differentiated into water based, solvent based, hot melts and others. The division based on application consists of construction, packaging, furniture, automotive and transportation, textile and leathers, among others.
The continuous demand for spray adhesives from numerous application industries, including as packaging, construction, and automotive, may be attributed to the expansion of the global market for spray adhesives. Spray adhesives are gradually replacing tape glue, hot glue, and liquid glue, among others, due to their advantageous qualities such as moisture and heat resistance, quick and firm bonding, and capacity to cure quickly.
Furthermore, spray adhesives from the food and beverage sector for healthy packaging of food products are another element assisting the market’s growth. Green improvements in volatile organic compounds (VOC) that are safe for the environment and human consumption are also likely to have a favourable influence on the industry.
Key Market Players
The major players in the market are The 3M Company, H.B. Fuller Company, Henkel AG, BASF SE, Bostik S.A., and others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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