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The size of the spray glue market-USD 3.05 billion in 2020, the market growth-a compound annual growth rate of 4.5%, the trend-the global preference for environmentally friendly products is increasing
New York City, New York, USA, December 2, 2021/EINPresswire.com/-Growing demand for high-quality custom-made furniture and increasing awareness of the benefits of spraying adhesives on furniture are key to driving market revenue growth factor
According to the latest report of Reports and Data, the global spray glue market is expected to reach 4.32 billion U.S. dollars by 2028, and the compound annual growth rate of revenue during the forecast period is 4.5%. It is expected that market revenue growth will be mainly driven by the growing consumer demand for high-quality and customized furniture, as well as increased investment by major players to manufacture more advanced and innovative spray glues. Due to the improvement of consumers' living standards and the increase in construction activities, the growth of the furniture industry is expected to drive the market's revenue growth during the forecast period. New buildings are contributing to the growing demand for furniture. Spray glue is increasingly used to bond cushions, fabrics, foams and decorative laminates to wooden parts of furniture. The increase in the consumption of spray glue used for carton sealing, corrugated carton assembly and labeling, and bonded cardboard cartons in the packaging industry is expected to drive market revenue growth during the forecast period. Strict regulations on the emission of volatile organic compounds are driving the demand for water-based spray adhesives because they are environmentally friendly and harmless.
Manufacturers are investing to provide a variety of cost-effective, fast curing, easy-to-use, and effective bonding products. For example, 3M has introduced 3M Hi Tack composite spray adhesive 71, which brings benefits to marine, industrial, transportation and composite manufacturers. The product can bond fabric, fiber, wood, metal or laminate, and its strong adhesion is ideal for various composite material production applications.
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Companies introduced in the global market report: Henkel AG & Co. KGaA, 3M Company, HB Fuller Company, Arkema SA, Avery Dennison Corporation, Sika AG, Illinois Tool Works Inc., Eastman Chemical Company, AFT Aerosols and Quin Global.
Some key points in the report
In October 2020, ICP Building Solutions Group launched Polyset TPO/EPDM spray contact adhesive. The new product is designed as an independent, portable, single-component solution, which is expected to help professionals complete their work efficiently and quickly. The product provides high adhesive output with fast set-up time, which helps reduce labor time and achieve more efficient work completion. Additional advantages of spray contact adhesives are ease of application, fast set-up process, and fast drying time. The revenue of the epoxy resin division is expected to achieve rapid revenue growth during the forecast period. The resistance of epoxy resins to thermal and chemical applications is driving product demand in various end-use industries. The durability of epoxy resin makes it ideal for use with a variety of materials, including fabric, wood, metal, or glass. It is expected that during the forecast period, the revenue growth rate of the water-based sector will increase significantly. The consistency, adhesion stability, versatility and cost-effectiveness provided by water-based adhesives are the factors driving the revenue growth of this sector. Revenues from the automotive and transportation sectors are expected to grow rapidly during the forecast period. Due to good adhesive properties, the rapid growth of the aerospace industry and the increase in commercial aircraft production are expected to drive the demand for spray adhesives. The Asia-Pacific market is expected to record a strong compound annual growth rate of revenue during the forecast period. During the forecast period, rapid urbanization, industrial development, and expansion of the transportation and construction sectors in developing countries in the region are expected to drive revenue growth in the spray glue market.
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For the purpose of this report, the report and data segment the global spray glue market according to resin type, type, application and region:
Resin type outlook (revenue, billion US dollars; quantity, thousand tons, 2018-2028) polyurethane epoxy vinyl acetate ethylene synthetic rubber
Type outlook (revenue, billion dollars; quantity, thousand tons, 2018-2028)
Application outlook (revenue, billion US dollars; quantity, thousand tons, 2018-2028) Packaging, construction, automobile and transportation furniture, etc.
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Regional outlook (revenue, billion US dollars; volume, thousand tons, 2018-2028) North America Europe Asia Pacific Latin America Middle East and Africa
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