The growing acceptance of spray adhesives over conventional glues and tapes has increased the research and development activity for spray adhesives in the market. High demand of spray adhesives in the end-use industries is responsible for driving global spray adhesives market.
PUNE, India, Sept. 21, 2022 /PRNewswire/ — Spray adhesives, also known as sprayable adhesives, are adherents provided in the aerosol form. These adhesives provide good adhesion with fast and aggressive tack. Spraying increases the speed of application with minimum wastage due to controlled spray mechanism. The spray adhesives market in the furniture industry is estimated to witness the fastest growth during the forecast period.
The global Spray adhesives market size stood at USD 3.22 billion in 2021. The market could surge to USD 6.38 billion by 2029 at 4.8% CAGR during the forecast period.
Download Exclusive Sample of Spray Adhesives Market Report in PDF Version @
https://exactitudeconsultancy.com/reports/2966/spray-adhesives-market#request-a-sample
The demand for spray adhesives has increased owing to growing technological advancements and increasing demand from applications, namely, architectural, appliances, automotive, furniture, agriculture, construction, and earthmoving equipment, general industrial and others.
Partnerships, Collaborations and Agreements
- On February 2021, Henkel Corporation and FREEDM Systems Engineering Research Center announced a new partnership agreement designed to study the impact of materials technology on power electronics applications.
- On June 2021, H.B. Fuller announced a distribution agreement with Jubilant Agri and Consumer Products Ltd., a 100% subsidiary of Jubilant Industries, to address the growing demand for adhesive applications in the B2B woodworking segment. JACPL will now serve as a national channel partner of H.B. Fuller
Growing furniture industry to drive the spray adhesives market
The spray adhesives market in the furniture industry is estimated to witness the fastest growth during the forecast period. The growth of the furniture industry is attributed to the growing construction industry and improving standards of living. New constructions will increase the demand for housing and/or office furniture. This is expected to be observed mainly in developing economies such as China, India, Brazil, and South Africa.
Asia-Pacific is projected to be the fastest-growing market for spray adhesives during the forecast period
The markets in developing economies such as China and India are experiencing high growth due to increasing purchasing power of the middle class and growing urbanization. The spray adhesives market in India is projected to witness the highest CAGR during the forecast period.
|
Report Attribute/Metric |
Details |
|
Market Size |
USD 6.38 billion by 2029 USD 3.22 billion in 2021 |
|
CAGR |
4.8% (2022–2029) |
|
Base Year |
2021 |
|
Forecast Period |
2022–2029 |
|
Historical Data |
2017 |
|
Forecast Units |
Value (USD Billion) |
|
Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
|
Segments Covered |
Material Type, Aircraft Type |
|
Geographies Covered |
North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
|
Key Vendors |
AkzoNobel N.V., PPG Industries, Bostik SA, H.B. Fuller, Henkel, Illinois Tool Works, Kissel+ Wolf GmbH, Quin Global, Sika AG, and 3M |
|
Key Market Opportunities |
Increasing demand from the growing constructions sector |
|
Key Market Drivers |
Rising investment in the building & construction sector as well as expansion of packaging industry in developing regions |
|
Customization scope |
Free report customization (equivalent up to 8 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope. |
|
Pricing and purchase options |
The entire organization can use the report. It can be printed and shared. Delivery in PDF and Excel. |
Stakeholders Prioritize Strategic Approaches to Boost Penetration
The market is highly competitive with presence of large number of players with strong production capacities. Strategic activities of key players including, production capacity expansion, new product launches and strategic agreements will differentiate themselves in the longer run.
Major companies involved in the industry include AkzoNobel N.V., PPG Industries, Bostik SA, H.B. Fuller, Henkel, Illinois Tool Works, Kissel+ Wolf GmbH, Quin Global, Sika AG, and 3M.
Key Market Segments: Spray adhesives Market
Spray Adhesives Market by Type, 2022-2029, (USD Million, Kilotons)
- Solvent Based
- Water Based
- Hot Melt
Spray Adhesives Market by Chemistry, 2022-2029, (USD Million, Kilotons)
- Epoxy
- Polyeurethane
- Synthetic Rubber
- Vinyl Acetate Ethylene
Spray Adhesives Market by End Use, 2022-2029, (Usd Million, Kilotons)
- Transportation
- Construction
- Furniture
- Others
Spray Adhesives Market by Region, 2022-2029, (Usd Million, Kilotons)
- North America
- Europe
- Asia Pacific
- South America
- Middle East and Africa
Key Market Trends
Increasing Demand from Transportation Sector
- Spray adhesives are required for a variety of applications in the transportation sector. These adhesives are majorly used in the interior trim application of vehicles and aircrafts.
- Spray adhesives help in bonding foam, fabric, fiberglass, leather and other materials to the body of the vehicle.
- With the increasing security concerns and increasing commercial use of aircraft as a medium of conveyance, the demand for aircraft has been increasing across the world. With this, various aircraft production orders have been lined up for delivery in the coming years.
- For instance, according to Boeing, by 2029, the deliverables of commercial aircraft are expected to reach about 17,390 units in the Asia Pacific, 9,130 units in North America and about 8,990 units in Europe.
- Hence, with the production of aircraft to deliver the aircraft orders from the defense as well as the aviation industry, the demand for spray adhesives is projected to increase worldwide, during the forecast period.
Spray adhesives Market Dynamics
Drivers
- Increasing penetration of spray adhesives in end-use industries
- The rapid growth of key end-use industries in APAC
Restraints
- The volatility of raw material prices
Opportunities
- Growing demand for low-VOC and eco-friendly adhesives
Challenges
- Meeting environmental standards while maintaining performance
Chemicals & Materials Industry battles Tangible Impact of Economic and Cultural changes, Explore Exactitude Consultancy
Glycidyl Methacrylate Market
The global glycidyl methacrylate market is expected to grow at 9% CAGR from 2022 to 2029. It is expected to reach above USD 351.40 million by 2029 from USD 161.79 million in 2021.
https://exactitudeconsultancy.com/reports/4558/glycidyl-methacrylate-market/
Rheology Modifiers Market
The global rheology modifiers market size is projected to reach USD 10.29 billion by 2029 from USD 7.5 billion in 2021, at a CAGR of 3.5% from 2022-2029.
https://exactitudeconsultancy.com/reports/4406/rheology-modifiers-market/
Polyurethane Dispersions Market
The global Polyurethane Dispersions market will witness a CAGR of 6.9% for the forecast period of 2022-2029. It is expected to reach above USD 3.37 Billion by 2029 from USD 1.85 Billion in 2021.
https://exactitudeconsultancy.com/reports/5616/polyurethane-dispersions-market
About Exactitude Consultancy
Exactitude Consultancy is a market research & consulting services firm which helps its client to address their most pressing strategic and business challenges. Our market research helps clients to address critical business challenges and also helps make optimized business decisions with our fact-based research insights, market intelligence, and accurate data.
Contact us for your special interest research needs at sales@exactitudeconsultancy.com and we will get in touch with you within 24hrs and help you find the market research report you need.
Website: https://exactitudeconsultancy.com/
Contact:
Irfan Tamboli
sales@exactitudeconsultancy.com
+91-7507-07-8687
Logo: https://mma.prnewswire.com/media/1871697/Exactitude_Consultancy_Logo.jpg
SOURCE Exactitude Consultancy