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Market Overview:
The Spray Adhesives size is estimated to reach $4.5 billion by 2030, growing at a CAGR of 4.5% during the forecast period 2024-2030, according to a recent report published by IndustryARC, titled, “Spray Adhesives – By Product Type (Solvent Based, Water Based, Hot Melt and Others), By Chemistry (Epoxy, Polyurethane, Synthetic Rubber, Vinyl Acetate Ethylene), By End User (Transportation, Construction, Furniture and Others), By Geography - Global Opportunity Analysis & Industry Forecast, 2024-2030”.
Increasing demand for adhesive solutions, with the expanding construction, automotive, and packaging industries, there is a rising need for efficient and versatile bonding materials which is fueling the growth of the Spray Adhesives during the forecast period.
Asia-Pacific Dominated the Market in 2023:
Asia-Pacific accounted for the largest share of 40% of the Spray Adhesives in 2023 followed by North America and Europe. As, economic growth in countries like China, India and Vietnam is boosting disposable income and fueling industries like construction, furniture, and transportation – all of which rely heavily on spray adhesives. Additionally, the rise of of the automotive sector in the region is another major growth driver of spray adhesives in the Asia-Pacific region, as spray adhesives are widely used in car manufacturing for various purposes. Furthermore, government initiatives in infrastructure development and a growing residential market are creating a high demand for spray adhesives in the Asia-Pacific region.
Spray Adhesives: Key Takeaways
Increased Usage of Spray Adhesives in the Construction and Automotive Sector:
The construction and automotive sectors are driving the growth of the spray adhesives market, government initiatives focusing on infrastructure development and a flourishing residential market are creating a vast need for efficient bonding solutions in applications where spray adhesives are used. Additionally, as car manufacturing undergoes advancements, the demand for lightweight materials and intricate designs necessitates strong yet flexible adhesives, spray adhesives are instrumental in car assembly, adhering interior components and thus is a versatile option for the construction and automotive industries, fueling the market growth of the Spray Adhesives Market.
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Innovation of Spray Adhesives in the Spray Adhesives Industry:
Due to their high level of innovation in the spray adhesives are being adopted by the spray adhesives industry more and more. Manufacturers are increasingly focused on eco-friendly solutions, developing water-based and hot melt spray adhesives with lower VOC emissions, these addresses growing environmental concerns and also allows manufacturers to comply with stricter regulations. Additionally, performance-driven formulations are another area of innovation, with adhesives designed for specific needs in different industries, these may include formulations with superior heat resistance for industrial applications or flexible adhesives ideal for delicate materials in electronics manufacturing, thereby driving the growth of the Spray Adhesives Market.
Scope of the Report:
Recent Developments:
- Manufacturers are prioritizing the development of water-based and hot melt spray adhesives with lower VOC emissions. This caters to growing environmental concerns and aligns with stricter regulations.
- Research and development efforts are focusing on creating adhesives with unique properties for specific applications. Examples include high-temperature resistant adhesives for industrial use or flexible adhesives for delicate materials in electronics manufacturing.
- The rise of e-commerce and the DIY movement is prompting the development of user-friendly spray adhesives with clear instructions and readily available online tutorials. Additionally, smaller sized containers are being introduced to cater to the DIY segment..
Spray Adhesives: Competitive Landscape
Key companies profiled in the Spray Adhesives are Bostil SA, Henkel, Quin Global, H.B. Fuller, UniSeal Inc., Eastman Chemical Company, 3M, SIKA AG, Philips Manufacturing, Arkema Group and others.
About IndustryARC™:
IndustryARC primarily focuses on Market Research and Consulting Services specific to Cutting Edge Technologies and Newer Application segments of the market. The company’s Custom Research Services are designed to provide insights into the constant flux in the global demand-supply gap of markets.
IndustryARC’s goal is to provide the right information required by the stakeholder at the right point in time, in a format that assists an intelligent and informed decision-making process.
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Mr. Venkat Reddy
IndustryARC
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