Spray Adhesive Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 4.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Spray Adhesive Market Analysis
The global spray adhesive market is estimated to witness a healthy growth, at an estimated CAGR of over 4%, over the forecast period. The major factor driving the growth of the market studied is rapidly growth of construction sector in emerging economies.
- Increasing demand for low VOC adhesives is likely to create opportunities for the market in the coming years.
- Increasing demand for hygienic food packaging is projected to boost the market for spray adhesives in the future.
- Asia-Pacific region is expected to dominate the market and is also likely to witness highest CAGR during the forecast period.
Spray Adhesive Market Trends
This section covers the major market trends shaping the Spray Adhesive Market according to our research experts:
Increasing Demand from Transportation Sector
- Spray adhesives are required for a variety of applications in the transportation sector. These adhesives are majorly used in the interior trim application of vehicles and aircrafts.
- Spray adhesives help in bonding foam, fabric, fiberglass, leather and other materials to the body of the vehicle.
- With the increasing security concerns and increasing commercial use of aircraft as a medium of conveyance, the demand for aircraft has been increasing across the world. With this, various aircraft production orders have been lined up for delivery in the coming years.
- For instance, according to Boeing, by 2038, the deliverables of commercial aircraft are expected to reach about 17,390 units in the Asia Pacific, 9,130 units in North America and about 8,990 units in Europe.
- Hence, with the production of aircraft to deliver the aircraft orders from the defense as well as the aviation industry, the demand for spray adhesives is projected to increase worldwide, during the forecast period.
Asia-Pacific Region to Dominate the Market
- Asia-Pacific region is expected to dominate the market. In the region, China is the largest economy, in terms of GDP. China is one of the fastest emerging economies and has become one of the biggest production houses in the world, today. The country's manufacturing sector is one of the major contributors to the country's economy.
- The Chinese aircraft industry depicted significant growth over the years. According to Boeing, China is estimated to require around 7,600 new commercial aircraft, valued at USD 1.2 trillion, over the next two decades.
- Foreign investment in China has also been extended into the aviation sector, which is projected to register a CAGR of 6%, owing to China's geographical location, which provides easy access to the industrial goods markets in the neighboring countries, as well as, other countries globally, making it a major access point for manufacturers and suppliers.
- China is the largest manufacturer of automobiles in the world. The country's automotive sector has been shaping up for product evolution, with the country focusing on manufacturing products, in order to ensure fuel economy, and to minimize emissions (owing to the growing environmental concerns due to mounting pollution in the country).
- The production is expected to reach 30 million units by 2020, owing to the 'Made in China 2025' initiative support in upgrading the existing low-cost mass production to higher value-added advanced manufacturing. 'Automobile Mid and Long-Term Development Plan', was released in 2017, with an objective to make China a strong auto power in the next ten years.
- Due to all such factors, the market for spray adhesive in the region is expected to have a steady growth during the forecast period.
Spray Adhesive Industry Overview
The spray adhesive market is partially consolidated in nature. Some of the major players in the market include Arkema Group, H.B. Fuller Company, Henkel AG & Co. KGaA, Sika AG, and 3M, among others.
Spray Adhesive Market Leaders
Arkema Group
H.B. Fuller Company
Henkel AG & Co. KGaA
Sika AG
3M
*Disclaimer: Major Players sorted in no particular order
Spray Adhesive Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Study Assumptions
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1.2 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET DYNAMICS
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4.1 Drivers
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4.1.1 Rapidly Growth of Construction Sector in Emerging Economies
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4.1.2 Increasing Demand for Hygienic Food Packaging
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4.1.3 Other Drivers
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4.2 Restraints
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4.2.1 Impact of COVID-19 Pandemic
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4.2.2 Other Restraints
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4.3 Industry Value-Chain Analysis
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4.4 Porters Five Force Analysis
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4.4.1 Bargaining Power of Suppliers
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4.4.2 Bargaining Power of Consumers
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4.4.3 Threat of New Entrants
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4.4.4 Threat of Substitute Products and Services
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4.4.5 Degree of Competition
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5. MARKET SEGMENTATION
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5.1 Type
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5.1.1 Solvent-based
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5.1.2 Water-based
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5.1.3 Hot Melt
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5.2 Resin Type
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5.2.1 Epoxy
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5.2.2 Polyurethane
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5.2.3 Synthetic Rubber
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5.2.4 Vinyl Acetate Ethylene
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5.3 End-user Industry
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5.3.1 Building and Construction
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5.3.2 Packaging
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5.3.3 Furniture
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5.3.4 Transportation
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5.3.5 Textile
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5.3.6 Other End-user Industries
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5.4 Geography
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5.4.1 Asia-Pacific
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5.4.1.1 China
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5.4.1.2 India
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5.4.1.3 Japan
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5.4.1.4 South Korea
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5.4.1.5 ASEAN Countries
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5.4.1.6 Rest of Asia-Pacific
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5.4.2 North America
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5.4.2.1 United States
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5.4.2.2 Canada
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5.4.2.3 Mexico
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5.4.3 Europe
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5.4.3.1 Germany
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5.4.3.2 United Kingdom
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5.4.3.3 Italy
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5.4.3.4 France
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5.4.3.5 Rest of Europe
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5.4.4 South America
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5.4.4.1 Brazil
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5.4.4.2 Argentina
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5.4.4.3 Rest of South America
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5.4.5 Middle-East and Africa
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5.4.5.1 Saudi Arabia
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5.4.5.2 South Africa
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5.4.5.3 Rest of Middle-East and Africa
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6. COMPETITIVE LANDSCAPE
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6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
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6.2 Market Share Analysis**
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6.3 Strategies Adopted by Leading Players
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6.4 Company Profiles
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6.4.1 3M
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6.4.2 AFT Aerosols
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6.4.3 Arkema Group
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6.4.4 Avery Dennison Corporation
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6.4.5 Blu-Sky UK Ltd
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6.4.6 Casa Adhesive, Inc.
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6.4.7 Chemique Adhesives & Sealants Ltd
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6.4.8 Gemini Adhesives Ltd
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6.4.9 H.B. Fuller Company
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6.4.10 Henkel AG & Co. KGaA
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6.4.11 Illinois Tool Works
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6.4.12 Kissel + Wolf GmbH
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6.4.13 Philips Manufacturing
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6.4.14 Powerbond
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6.4.15 Quin Global
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6.4.16 Sika AG
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6.4.17 Spray-Lock Inc
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6.4.18 The Kroger Co.
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6.4.19 Westech Aerosol Corporation
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6.4.20 Worthen Industries
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- *List Not Exhaustive
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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7.1 Increasing Demand for Low VOC Adhesives
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7.2 Increasing Investments in Infrastructure Sector of Developing Countries in APAC
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Spray Adhesive Industry Segmentation
The global spray adhesive market report includes:
| Type | |
| Solvent-based | |
| Water-based | |
| Hot Melt |
| Resin Type | |
| Epoxy | |
| Polyurethane | |
| Synthetic Rubber | |
| Vinyl Acetate Ethylene |
| End-user Industry | |
| Building and Construction | |
| Packaging | |
| Furniture | |
| Transportation | |
| Textile | |
| Other End-user Industries |
| Geography | ||||||||
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Spray Adhesive Market Research FAQs
What is the current Spray Adhesive Market size?
The Spray Adhesive Market is projected to register a CAGR of greater than 4% during the forecast period (2024-2029)
Who are the key players in Spray Adhesive Market?
Arkema Group, H.B. Fuller Company, Henkel AG & Co. KGaA, Sika AG and 3M are the major companies operating in the Spray Adhesive Market.
Which is the fastest growing region in Spray Adhesive Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Spray Adhesive Market?
In 2024, the Asia Pacific accounts for the largest market share in Spray Adhesive Market.
What years does this Spray Adhesive Market cover?
The report covers the Spray Adhesive Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Spray Adhesive Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Spray Adhesive Industry Report
Statistics for the 2024 Spray Adhesive market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Spray Adhesive analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
