Global Spray Adhesive Market - 2020-2027
Spray adhesive is applied on a surface from a pressurized container, directed as a mist, easily creating a consistent coat. Many types of spray adhesives cater to all kinds of needs and are a solid choice for crafts, furniture, clothing, decorations, school projects, and simple DIY fixes. Moreover, most sprays are dry apparent and won't bleed through or cause wrinkling, resulting in an invisible bond that preserves original appearances. The easy application allows for hassle-free multiple coats, ensuring strong bonds without added drying times. It can also be used for bonding wood, metal, acrylic, foam, fabric, cardboard, leather, corkboard, glass, foil, rubber, and many plastics. Some spray glues aren't recommended for exposure to high temperatures or humidity.
The global spray adhesives market is estimated to reach USD XX billion by 2027 from the recorded market size of worth USD XX billion in 2018, growing at a CAGR of XX% during the forecast period.
Hot melts are one of the industry's major products, consumed in numerous applications due to their superior performance attributes. They have good adhesion properties and can be bonded on many substrates, including rubbers, glass, metals, plastics, ceramics, and wood. Moreover, the growing demand for the building & construction industry, especially in developing nations, is the primary driver to boost spray adhesives globally. According to industry analysis, the revenue produced by construction contractors working internationally increased slightly in 2018, to around USD 487 billion, which is slightly raised from the previous year, representing the second consecutive increase in the last few years. EPS foams, pipe insulation, roofing membranes, glue drywalls, plasters, fiberglass, insert ceilings, and carpet tile installation are few products used in the construction industry. This adhesive division is generally utilized in droplets form and has proven to be a valuable substitute for white glues, tape glues, and hit glues due to its properties like excellent heat & moisture resistance, strong bond, and others.
Due to the growing demand for the transportation sector, it is expected to boost the market's growth. These adhesives are majorly used in the interior trim application of vehicles and aircraft. In addition, the increasing security concerns and increasing commercial use of aircraft as a medium of conveyance, aircraft demand has been rising across the world. According to the industry analysis, in the coronavirus pandemic, commercial airlines carried only 1.8 billion passengers and generated only 328 billion U.S. dollars in global revenue in 2020 and is expected to rise in the coming years. Hence, with aircraft production to deliver the aircraft orders from the defense and the aviation industry, the demand for spray adhesives is projected to increase worldwide in the forecast period.
However, the increasing price of raw materials can hinder market growth. In addition, the increased emission of VOCs from the spray adhesives production process are major factors expected to hamper the growth of the adhesive spray market.
By type, the market is segmented into solvent-based, water-based, and hot melt. By properties, the market is segmented into a temporary and permanent fixation, easy to use, fast and robust, and moisture resistant. By resin type, the market is segmented into epoxy, polyurethane, synthetic rubber, and vinyl acetate-ethylene. By end-user, the market is segmented into transportation, construction, furniture, packaging, textile, and others.
The furniture industry is expected to increase the demand for the adhesive spray market in the forecast period. According to the industry analysis, the furniture industry is expected to grow with a CAGR of 4.2%, with an average revenue per capita of USD 181.92. This segment is expected to boost the product demand at the fastest growth rate in the forecast period. Generally, polyurethane is a highly preferred material for glues used in furniture applications. Filling cabinets and other woodworking products extensively utilize aerosol adhesives.
Polyurethane products provide improved adhesion for many substrates, such as wood, plastic, and glass, due to their elasticity and other structural characteristics. These attributes, coupled with continued technological improvement, have broadened polyurethane adhesives in furniture & filling projects. Furthermore, flexible foams, padding, decorative veneers and cabinets, office panel coverings, mattress assembly, particleboard, and high-pressure lamination to plywood are the key sub-uses of spray adhesives.
The Asia Pacific dominates the adhesive spray market due to increasing the construction sector's growth from developing economies like India, China, Indonesia, and Malaysia. For instance, China is a leading spray adhesives market due to rising infrastructural activities purposed by the government and the largest automobile manufacturer in the world. Moreover, the increased demand in the automotive sector is expected to drive the market in Asia-Pacific. The government focuses on manufacturing products to ensure fuel economy and minimize emissions due to increasing environmental concerns due to mounting pollution.
Furthermore, the Chinese aircraft industry is expected to have significant growth during the forecast period. It provides easy access to the industrial goods markets in nearby countries and other countries globally, making it a significant access point for manufacturers and suppliers.
North America caters a fortunate market scope for the spray adhesives market business due to high disposable incomes and rising urbanization in the region, and the increasing demand of automotive, construction, and furniture sectors, resulting in driving the spray adhesives market in the forecast period.
The European market holds a significant share of spray adhesive market size. In Europe, UK has registered as the second-largest automobile market. Moreover, the increasing investment in research and development activities in the automotive sector will contribute significantly to the spray adhesives demand in coming years.
The adhesive spray market is fragmented with the presence of regional and global players. The competitive outline lies with the increase in the regional company and growing investment in upstream application. Arkema Group, H.B. Fuller Company, Henkel AG, Sika AG, 3M Company, BASF SE, Ashland Inc., Avery Dennison Corporation, Bostik ND Industries, Illinois Tool Works are the major player in the adhesive market. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, contributing to growing the spray adhesives market globally.
3M's new spray adhesive features various essential benefits for industrial, marine, transportation and composite manufacturers, including visual control, quick-to-tack formula, and little to no intrusion during the resin infusion process. The specialized scheme facilitates the effective lay-up of fiber sheets with low soak-in for quick bonding times. Moreover, 3M Hi-Tack spray adhesive 71 is also built with high adhesive solids content, so the product lasts longer & less is required, and it offers little to no intrusion in the infusion process that allows customers to improve the strength of their final composites. In addition, infusion molding applications require unique adhesive attributes and compatibilities between the resin and adhesive.
Furthermore, to clear the adhesive is available in green, allowing operators to ensure the appropriate amount is applied. The formula will work with most resin systems, including polyester, vinyl ester, & epoxy. This versatile adhesive also bonds fiber, fabric, wood, laminate, metal and its strong tack is ideal for various composite production applications.