Increasing use of spray adhesives for bonding various materials such as wood, metal, foam, and fabric, among others, growing popularity of DIY art and craft projects, and convenient usage and easy application are some key factors expected to drive market growth
NEW YORK , Jan. 11, 2022 /PRNewswire/ -- Reports and Data has published its latest report titled "Spray Adhesives Market By Resin Type (Polyurethane, Epoxy, Synthetic Rubber), By Type (Water-based, Solvent-based, Hot Melt), By Application (Packaging, Construction, Automotive & Transportation, Furniture), and By Region, Forecast to 2028."
According to the latest report by Reports and Data, the global spray adhesives market size was USD 3.05 billion in 2020 and is expected to reach USD 4.32 Billion in 2028 and register a revenue CAGR of 4.5% during the forecast period, 2021-2028.
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Spray adhesives are available in different types for different purposes and have varying degrees of adhesion. Spray adhesives are commonly used for art and crafts projects, repairing furniture and appliances, and mending fabrics or leather, among others. Some spray adhesives are also repositionable which allow for detailed placement. Spray adhesives often dry clear and do not bleed through or cause wrinkling which preserves the original appearances. Spray adhesives is a convenient method of application in cases where limited amount of adhesive needs to be applied and can effectively cover an irregular surface evenly. Increasing use of spray adhesives across various end-use industries such as construction, packaging, and furniture, among others, growing popularity of craft projects, and rising research and development activities to develop high-performance spray adhesives are some key factors expected to drive market revenue growth over the forecast period.
Spray adhesives are applied on the surface of a material from a pressurized container as a mist and are used for crafts, decorations, furniture repairs, and everyday DIY projects. Multi-purpose spray adhesives dry clear which makes it possible to apply multiple coats to increase bond strength. Spray adhesives can be used for bonding acrylic, fabrics, corkboard, glass, rubber, and many plastics. Some spray adhesives are specifically designed for foams and fabrics. Spray adhesives are aerosol adhesives used for industrial purposes that can generate robust and effective bonds for various materials. Most common spray adhesive applications include temporary holding, general assembly, and label attachment, among others. Spray adhesives with low adhesion are used for craft projects such as creating illustrations, models, mosaics, and decorative items. Spray adhesives are also used in clothing to hold together pieces of cloth before sewing. Spray adhesives are widely used in various construction applications such gluing drywall and ceiling inserts to improve aesthetic appearance. Increasing demand for high-quality and customized furniture and aesthetic interiors due to rising disposable income among individuals is another factor expected to contribute to revenue growth of the market going ahead.
Rapidly expanding construction and building sector in developing countries is expected to boost demand for spray adhesive owing to their cost-effectiveness, high-performance, and other excellent attributes. However, volatility in raw material prices, stringent regulations regarding emissions of volatile organic compounds, and growing focus on meeting environmental standards are some factors expected to restrain market revenue growth to a certain extent over the forecast period.
To identify the key trends in the industry, research study at https://www.reportsanddata.com/report-detail/spray-adhesives-market
Social distancing and restrictions severely disrupted businesses and operations
Lockdowns caused disruptions in transportation and logistics
Impacted manufacturing activities and mining operations globally
Took a toll on economy of various countries
Caused sudden and drastic downturn in economic activity
Disrupted agriculture, fisheries, dairy, and other sectors
Caused loss of employment and financial crisis
Supply impacts were further compounded owing to reduced disposable income
Emergence of variants continue to cause concerns and impact normal routines
Epoxy Resin Segment Revenue to Support Market Growth:
Epoxy resin segment is expected to account for largest revenue share over the forecast period attributable to increasing use of epoxy resin across various end-use industries owing to its excellent chemical and heat resistance, enhanced durability, and robust mechanical strength.
Water-based Segment to Register Significant Revenue Growth:
Waster-based segment is expected to register significant revenue growth over the forecast period owing to increasing demand for water-based adhesives over solvent-based adhesives due to implementation of stringent regulations regarding emissions of volatile organic compounds. Water-based adhesives offer consistency, bond stability, versatility, and are cost-effective and can be widely used on a variety of substrates and this is another factor contributing to revenue growth of this segment.
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Asia Pacific to Register Robust Revenue CAGR:
Asia Pacific market revenue is expected to expand at a robust revenue CAGR attributable to rapid urbanization and growth of construction and building sector, increasing government investment, and rising disposable income among individuals in the region. In addition, rapid growth of the automotive sector and subsequent demand for lightweight and eco-friendly products are expected to further boost demand for spray adhesives in the region and contribute to market growth.
Europe to Account for a Significant Revenue Share:
Europe is expected to account for a significantly revenue share in the global market over the forecast period attributable to increasing initiatives to encourage sustainable development, rising demand for eco-friendly spray adhesives, and presence of major automotive manufacturers in the region.
Major Companies in the Market Include:
Henkel AG & Co. KGaA
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For the purpose of this report, Reports and Data has segmented the global spray adhesives market based on resin type, type, application, and region:
Resin Type Outlook (Revenue, USD billion; Volume, Kilo Tons, 2018-2028)
Type Outlook (Revenue, USD billion; Volume, Kilo Tons, 2018-2028)
Application Outlook (Revenue, USD billion; Volume, Kilo Tons, 2018-2028)
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Regional Outlook (Revenue, USD billion; Volume, Kilo Tons, 2018-2028)
Some points on how the report benefits stakeholders:
The reports include historical (2018–2020) and forecast (2021–2028) data points, revenues, and CAGR in table, figure, and chart formats, with detailed and qualitative, supporting written information for each.
Revenue break-up is provided for each segment in these formats for global, regional, and for each country in the respective region for each year between 2018 and 2028.
The report contains insights regarding growth drivers, restraints, opportunities, trends, company profiles, strategic developments, expansion details, product launches, and various other aspects related to the market.
The report contains data and information on customers, competitors, vendors/distributors, and other players and in the global marketplace.
Market research analysis is vital for all crucial business strategies and can aid in numerous ways and to provide a clearer understanding about strategies being deployed by competitors, product launches, competitive analysis, technological advancements and various other factors that enhance sales of a firm or perhaps provide insights to focus on merger and acquisition as a strategy or enter into strategic agreements or joint ventures etc.
The report contains company profiles of the top companies operating in the market along with their respective revenue and operating segments, geographical reach, market footprint, headquarters, growth rates, recent developments, product /services, expansion strategies, investments in expansion, and more.
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