Analysis of Spray Glue Market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
According to latest research by Fact.MR, spray glue market is set to witness steady growth during 2021-2031. Demand for spray glue will witness growth in coming years, owing to increase in number of new players in automobile industry.
Evolving end-user demand for quick & fix glue, easy to use glue and heat & moisture resistance glue for fixing panels in cars and furniture and other applications driving the demand for spray glue. The days are gone when companies and manufacturing plants used traditional thick glue and soaking glues, which were not suitable for all types of climates and sometimes it damages the product. Spray glue sticks the product more quickly than any other glue. Apart from this, spray glue are also known for its high strength bond, which has surge its demand in the automobile industry.
Additionally, change in the standard of living in developing countries has increased the consumption of high quality and luxury furniture, as people started spending more money on home interiors and décor. Change in the living style of people increased the market for furniture industry globally, due to which demand for lightweight glue and more resistance glue has surged the demand for spray glue.
Furniture industry and automobile industry has been badly affected sectors globally as most of the automobile and furniture manufacturing units were put on hold to avoid the transmission of covid 19 virus. This has impacted the market growth of spray glue, as automobile industry plays a vital role in spray glue market. Apart from this, spray glue manufacturing companies are also facing issues in procurement of raw material like chemicals, synthetic rubber and natural rubber.
Spray glue companies are facing major issues in procurement of alcohol which plays an important role in manufacturing spray glue, as most of the companies were manufacturing hand sanitizer and other cleaning products to fight with covid 19 pandemic.
Asia Pacific is the leading market for spray glue globally. Asia Pacific accounts for more than 30% share of the global spray glue 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 has been increasing in the end-use industry.
China and India dominate the market of spray glue in the Asia Pacific. The growing automobile industry in countries including India, China, Vietnam, and Japan has been supporting the market growth of spray glue. For instance, in 2020, Kinetic green electric vehicle manufacturing company announced a plan that the company will set up a manufacturing plant for electric golf carts in Andhra Pradesh, India. This investment is expected to cost US$ 237 million. Apart from this, in 2021, Tesla has planned to set up a research and development unit in Bangalore, India to boost the market for electric vehicles in India. These are the key factors supporting the rise of spray glue in the Indian market.
Apart, from automobile industry, the growing construction industry in China, Vietnam, and India are further supporting the market growth of spray glue in Asia Pacific. For instance, the Chinese government has started working on an extension of the Beijing International Airport. The project is expected to complete by 2025 and this project will support the increasing growth of spray glue in Asia Pacific.
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Europe holds the second largest share of the spray glue market followed by North America. The growing furniture industry in Europe due to adaptation of customized products according to the customer demand has been driving the demand of furniture, which supports the market growth of spray glue in Europe.
Some of the leading manufacturers of spray glue includes
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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
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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The spray glue market is likely to capture a CAGR of 5% during the forecast period.
The spray glue market has potential growth with the rising electronic industry during the forecast period.
Asia Pacific holds most opportunities in the spray glue market during the forecast period.
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