Bharat Book Bureau Provides the Trending Market Research Report on “Global Spray Adhesives Market Forecast to 2022” under Industry & Mfg. The report provides information on industry overview, market size, latest developments, industry trends, Key players, global presence, and their future prospects.
Spray Adhesives Market is projected to register a CAGR of 4.6%, in terms of value, between 2017 and 2022
The spray adhesives market size is expected to reach USD 3.41 billion by 2022 from the estimated USD 2.72 billion in 2017, at a CAGR of 4.6% between 2017 and 2022. Spray adhesives are favored for their advantages such as easy handling, low wastage, and faster application. They are used to bond a variety of substrates, including foam, fabric, metal, wood, and plastics. The growing demand from the automotive, aerospace, construction, and furniture industries is projected to drive the market for spray adhesives during the forecast period.
Hot melt spray adhesives segment is projected to register highest CAGR between 2017 and 2022
Hot melt adhesives are thermoplastic in nature. The application of hot melt adhesives involves melting and cooling of the adhesive polymers. As hot melt adhesives do not use solvent or water, their curing time is very less. The major types of hot-melt adhesives are vinyl acetate ethylene (VAE), pressure sensitive adhesives, polyolefin, and metallocene. Hot melt spray adhesives can be used for porous and non-porous surfaces.
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The high viscosity of hot-melt spray adhesives helps in bonding uneven surfaces by filling the gaps. The major disadvantages of these adhesives include heat sensitivity and low corrosion resistance. The heat sensitivity prevents the use of hot melt spray adhesives in elevated temperature applications. The thick layer of the adhesive hampers the aesthetics of the joint.
Asia-Pacific was the largest market for spray adhesives in 2016
Asia-Pacific is the largest market for spray adhesives and is expected to remain so till 2022. China is the key market in the region, accounting for more than half of the demand for spray adhesives in Asia-Pacific. China is followed by Japan, India, and South Korea, where consumption is growing at a steady pace. India is emerging as an important hub in the spray adhesives industry as it witnesses new facilities being established.
Increase in the consumption of spray adhesives in automotive, aerospace, construction, furniture, and packaging industries has been observed in the Asia-Pacific region due to continued industrialization and rise in the manufacturing sector in the region. Moreover, growing innovations and developments in spray adhesives are directly affecting the rise in the use of these spray adhesives.
Extensive primary interviews were conducted to determine and verify the market sizes of the various segments and subsegments of the spray adhesives market.
The break-up of primary interviews is given below:
- By Company Type - Tier 1 – 30%, Tier 2 – 43%, and Tier 3 – 27%
- By Designation - C level – 21%, Director level – 23%, and Others – 56%
- By Region - North America – 30%, Europe – 18%, Asia-Pacific– 41%, and RoW- 11%
The key companies operating in the spray adhesives market are Bostik SA (US), H.B. Fuller (US), Henkel (Germany), Kissel+Wolf GmbH (Germany), Quin Global (US), SIKA AG (Switzerland), and 3M (US).
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