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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.
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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.
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.
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
North America, Europe, Asia-Pacific, and Rest of the World (RoW)
AkzoNobel N.V., PPG Industries, Bostik SA, H.B. Fuller, Henkel, Illinois Tool Works, Kissel+ Wolf GmbH, Quin Global, Sika AG, and 3M
Increasing demand from the growing constructions sector
Rising investment in the building & construction sector as well as expansion of packaging industry in developing regions
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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)
Spray Adhesives Market by Chemistry, 2022-2029, (USD Million, Kilotons)
Spray Adhesives Market by End Use, 2022-2029, (Usd Million, Kilotons)
Spray Adhesives Market by Region, 2022-2029, (Usd Million, Kilotons)
Increasing Demand from Transportation Sector
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