PUBLISHER: The Business Research Company | PRODUCT CODE: 1620126
PUBLISHER: The Business Research Company | PRODUCT CODE: 1620126
Spray adhesives are versatile bonding agents applied in a spray format, creating a thin, even layer over surfaces. They are utilized in various industries, including automotive, construction, and crafting, because of their ease of application and strong adhesion. Their quick-drying characteristics and user-friendly nature make them a popular choice for projects that require efficient and effective adhesive solutions.
The main types of spray adhesives include solvent-based, water-based, hot melt, and others. Solvent-based spray adhesives use organic solvents to dissolve the adhesive material, enabling it to be sprayed onto surfaces. The resin types include epoxy, polyurethane, synthetic rubber, and vinyl acetate-ethylene. Applications of spray adhesives extend across automotive and transportation, building and construction, paper and packaging, woodworking and joinery, and more.
The spray adhesives market research report is one of a series of new reports from The Business Research Company that provides spray adhesives market statistics, including spray adhesives industry global market size, regional shares, competitors with a spray adhesives market share, detailed spray adhesives market segments, market trends and opportunities, and any further data you may need to thrive in the spray adhesives industry. This spray adhesives market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The spray adhesives market size has grown strongly in recent years. It will grow from $3.24 billion in 2023 to $3.42 billion in 2024 at a compound annual growth rate (CAGR) of 5.4%. The growth observed during the historic period can be attributed to the expansion of the construction industry, the rising popularity of DIY home improvement projects, growth in the furniture and upholstery industry, an increase in the number of manufacturing facilities, and greater awareness of the benefits of spray adhesives.
The spray adhesives market size is expected to see strong growth in the next few years. It will grow to $4.24 billion in 2028 at a compound annual growth rate (CAGR) of 5.5%. The anticipated growth during the forecast period can be attributed to increasing urbanization, higher demand in the electronics industry, greater adoption of smart packaging solutions, rising production of disposable products, expanding construction of green buildings, and a growing demand for non-toxic adhesives. Key trends in this period include technological advancements, the rise of smart packaging solutions, digital printing innovations, eco-friendly packaging options, and developments in wearable technology.
The expansion of packaging industries is anticipated to drive the growth of the spray adhesive market. Packaging industries involve the creation, manufacturing, and distribution of containers and materials used to protect and promote products. This sector's growth is spurred by rising consumer demand for packaged goods, advancements in packaging technology, and the growth of e-commerce. Spray adhesives play a crucial role in helping packaging companies optimize their processes, enhance product quality, and adapt to market demands, contributing to the overall growth and innovation within the packaging industry. For example, the Flexible Packaging Association reported in August 2023 that the U.S. flexible packaging industry achieved $42.9 billion in annual sales in 2022, a 15.3% increase from $37.2 billion in 2021. The value-added segment contributed $34.3 billion to this total. As a result, the expanding packaging industry is boosting the demand for spray adhesives.
Key players in the spray adhesive market are focusing on developing innovative products, such as eco-friendly adhesive sprays, to secure a competitive edge. These environmentally friendly adhesive sprays are designed with non-toxic, biodegradable, and sustainable ingredients to reduce environmental impact while ensuring effective adhesion for various materials. For instance, in May 2022, Floorwise, a UK-based flooring solutions provider, introduced the F597 Heavy Duty Spray Adhesive. This product is safer and more environmentally conscious compared to traditional spray adhesives, as it eliminates dichloromethane-a solvent associated with carcinogenic risks and health hazards. The F597 adhesive requires only a flammability warning symbol, significantly lowering health risks for users, especially in poorly ventilated environments where dichloromethane could be dangerous.
In September 2023, H.B. Fuller, a US-based adhesives company, acquired Sanglier Limited for an undisclosed sum. This acquisition strengthens H.B. Fuller's innovation capabilities and expands its product offerings in the UK and European markets, especially in the construction and engineering adhesives sectors. Sanglier Limited is a UK-based manufacturer of sprayable industrial adhesives.
Major companies operating in the spray adhesives market are 3M Company, Henkel AG And Co. KGaA, Sika AG, Eastman Chemical Company, Avery Dennison Corporation, Huntsman Corporation, RPM International Inc., H.B. Fuller Company, Ashland Inc., Bostik SA, Pidilite Industries Limited, Intertape Polymer Group, Gorilla Glue, Phillips Manufacturing Co., Quin Global, ITW Performance Polymers, Gemini Adhesives Ltd., Spray-Lock Inc., Uniseal Inc., Westech Aerosol Corporation
North America was the largest region in the spray adhesives market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the spray adhesives market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the spray adhesives market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The spray adhesives market consists of sales of instant-bond spray adhesives, non-acidic spray adhesives, and water-based spray adhesives. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Spray Adhesives Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on spray adhesives market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for spray adhesives ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The spray adhesives market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.