Spray adhesive market to witness a CAGR of Around 5%
According to latest research by Fact.MR, spray adhesive market is set to witness steady growth during 2021-2031. Demand for spray adhesive will witness growth in coming years, owing to increase in automobile industries in developing countries globally.
What is Driving Demand for Spray Adhesive?
Evolving end-user demand for quick fix adhesive and heat & moisture resistant adhesive for products including plywood sheets, mirror, pipe insulation and roofing membranes, etc. continues to drive the demand for spray adhesive.
In the past few years, demand for lightweight adhesive products has significantly increased in construction industry. Construction companies are using spray adhesive in place of white tapes, tape glue, and other glue products to increase the longevity of the bond.
Additionally, spray adhesive plays an important role in the aviation industry to fix glasses and plastic bodies. Apart, from this, it also helps to fix instant tire leakage or rubber tube leakages and it also plays an important role in leather industries for bonding between two pieces of leather.
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Covid-19 Affected the Global Sales of Spray Adhesive
Covid-19 has badly affected the market of spray adhesive, as most of the industries were put on hold including the construction and aviation industry to avoid the spread of the virus.
This has impacted the market growth of spray adhesive as construction and aviation industries play a vital role in the spray adhesive market. Apart from this, manufacturers of spray adhesive are facing issues in the procurement of raw materials like chemicals, glue, and other mixing particles from other countries due to the trade and transport restrictions between countries.
Most of the spray adhesive companies belong to North America and Europe, and these companies are facing issues in delivering their previous orders to other regions. This has forced the companies to look for local opportunities for procuring glue and chemicals.
Asia Pacific Spray Adhesive Market Outlook
Asia Pacific is the leading market for spray adhesives globally. Asia Pacific accounts for more than 45% share of the global spray adhesive market. The demand in Asia Pacific is expected to grow at a rapid pace in the forecasted period (2021 – 2031), as the number of activities is increasing in end use industry.
China and India dominate the market of spray adhesive in Asia Pacific. The growing construction industries in India and China has been triggering the market growth of spray adhesives. For instance, the Government of India has started working on Central Vista Redevelopment Project which refers to the ongoing redevelopment of the Central Vista, India's central administrative area located near Raisina Hill, New Delhi. The project seeks to improve infrastructure for the government of India, including retrofitting and refurbishing some heritage buildings to make them functional and safe for future use.
Apart from the construction industry, well established automobile industry in China, India, Indonesia and Japan have also been supporting the market growth of spray adhesive in Asia Pacific region.
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Europe Demand Outlook for Spray Adhesive
Europe holds the second largest share of spray adhesive market followed by North America. United Kingdom, Russia, France and Germany dominate the European market of spray adhesives, as most of the big players of the automobile and aviation industry come from these countries.
Who are the Key Manufacturers and Suppliers of Spray Adhesive?
Some of the leading manufacturers and suppliers of spray adhesive
- Gemini Adhesives Ltd.
- AFT Aerosols
- Phillips Manufacturing
- 3M Company
- Henkel AG & Co. KGaA
- H.B Fuller
- AVERY DENNISON CORPORATION.
- BASF SE
- Bostik S.A.
- ND Industries Inc.
- UniSeal, Inc.
- Ashland Inc.
- Beardow Adams
- Sika AG
- Eastman Chemical Company
- Kissel+Wolf GmbH
- Quin Global
- SIKA AG
- Linyi Demei Jucheng International Trade Co. Ltd.
- Dongguan Dayang Aerosol Chemical Technology Co. Ltd.
- Shanghai Shuode Building Material Co.Ltd
- Shandong Hongce Industry And Trade Group Co. Ltd
- Qingdao Sanhui Litai New Material Co. Ltd
- SOMA KOZMETIK SANAYI VE DIS TICARET LIMITED SIRKETI
- YAMATO CO.,LTD.
- 3M Japan Limited.
An Adaptive Approach to Modern-day Research Needs
Spray Adhesive Market Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company
Based on product type, spray adhesive market segmented into:
- Water based
- Solvent based
- Hot Melts
Based on application, spray adhesive market segmented into:
- Tanks / Vessels
- Pipe and fittings
- Electronic circuits
- Rubber tires and wheels
- Wall Finishing
- Flooring work
- Ceiling work
Based on end user, spray adhesive market segmented into:
- Automobile Industry
- North America
- US & Canada
- Latin America
- Brazil, Mexico, Others
- Western Europe
- Eastern Europe
- Asia Pacific
- Australia and New Zealand (ANZ)
- Greater China
- Rest of Asia Pacific
- Middle East and Africa
- GCC Countries
- Other Middle East
- North Africa
- South Africa
- Other Africa
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Is the market research conducted by Fact.MR?
Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
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