Global Spray Adhesives Market Size By Product (Solvent-based, Water-based, and Hot Melt), By Application (Transportation, Construction, Furniture), By Geographic Scope And Forecast
Report ID: 21254|No. of Pages: 202
Global Spray Adhesives Market Size By Product (Solvent-based, Water-based, and Hot Melt), By Application (Transportation, Construction, Furniture), By Geographic Scope And Forecast
Spray Adhesives Market Size And Forecast
Spray Adhesives Market size was valued at USD 3.39 Billion in 2024 and is projected to reach USD 4.96 Billion by 2031, growing at a CAGR of 4.9% from 2024 to 2031
The substantial growth in the building & construction industry especially in emerging nations is the major driver for the Spray Adhesives Market demand worldwide. The product is used to glue drywalls, plasters, fiberglass, and insert ceilings. Furthermore, EPS foams, pipe insulation, roofing membranes, and carpet tile installation are a few other products used in the construction industry. This will foster market growth. The Global Spray Adhesives Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
Global Spray Adhesives Market Definition
Spray adhesives are utilized in the form of droplets and are broadly substituted for tape glue, hot glue, and white glue. This is considered owing to its properties, for instance, quick, forceful track for a robust bond, and moisture and heat resistance. These spray adhesives wet the base of the joining surfaces and consistently transfer loads between the blended surfaces to improve better and more grounded holding. These adhesives can likewise contain volatile organic compounds (or VOCs), which are radiated amid their application.
Spray adhesives are utilized as a part of the transportation, development, and furniture industries. In the transportation business, they are utilized as a part of interiors and upholstery applications in vehicles, airships, and ships. In construction, spray adhesives are highly utilized as a part of ground surface and material applications. Spray adhesives are likewise utilized as a part of bundling, material, expressions, and artworks. Furniture is another key application area of spray adhesive. This adhesive bonding offers numerous advantages over other joining methods for wood components. Companies are investing in R&D to synthesize environmentally friendly and skin-friendly wood adhesives.
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Global Spray Adhesives Market Overview
Escalating the requirement for hygienic food packaging is predicted to embellish the growth of the Spray Adhesives Market in the years ahead. Additionally, the lucrative use of spray adhesives in bonding laminates, decorative cushions, fabrics, and foams to furniture will embellish the industry’s growth in the years ahead. The product is used to glue drywalls, plasters, fiberglass, and insert ceilings. Furthermore, EPS foams, pipe insulation, roofing membranes, and carpet tile installation are a few other products used in the construction industry.
This category of adhesives is generally utilized in droplets form and has proven to be an excellent substitute for tape glues, white glues, and hit glues owing to its superior properties such as strong bond, heat & moisture resistance, etc. These adhesives wet the base of the joining surface and then transfer loads consistently between the blended surface to improve grounded holding. Furthermore, Increasing economic growth in countries such as Indonesia, Malaysia, the Philippines, and Thailand is anticipated to Spray Adhesives Market growth as a result of growing investment in the infrastructure sector.
The favorable socio-economic and demographic factors such as urbanization, growing population, disposable incomes, and rise in the standard of living have positively anticipated propelling the growth of the Global Spray Adhesives Market. There are certain restraints and challenges faced which will hinder the overall market growth. The factors such as high VOC emissions caused by solvent-based adhesives are creating hurdles in market growth. Also, Epoxy resin-based adhesives are commonly used in the industry and their prices are very volatile as it is petroleum derivative. Nevertheless, the growing demand for low-VOC and eco-friendly adhesives, and the innovative achievement in the field of hot melts and low-VOC mixes are evaluated to offer lucrative opportunities for growth in the market in the future.
Global Spray Adhesives Market: Segmentation Analysis
The Global Spray Adhesives Market is Segmented on the basis of Product, Application, And Geography.
Spray Adhesives Market, By Product
- Solvent-based
- Water-based
- Hot Melt
Based on Product, the market is segmented into Solvent-based, Water-based, and Hot Melt. The hot melt spray adhesive segment is estimated to witness the highest CAGR for the forecast period. The factors that can be attributed to the tightening of environmental norms regarding the VOC content of spray adhesives. Hot melt spray adhesives are a water-less or solvent-less carrier and, thus, their VOC content is very less, making them more eco-friendly.
Spray Adhesives Market, By Application
- Transportation
- Construction
- Furniture
- Others
Based on Application, the market is segmented into Transportation, Construction, Furniture, and Others. The transportation segment holds the largest market share during the forecast period. Spray adhesives are majorly used to bond leather, fabric, fiberglass, foam, and other materials such as plastic or rubber to any metallic body of a vehicle, aircraft, or ship. These adhesives are extensively used in the interior trim application of aircraft.
Spray Adhesives Market, By Geography
- North America
- Europe
- Asia Pacific
- Rest of the world
On the basis of Geography, The Global Spray Adhesives Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. Asia-Pacific holds the largest market share. The strong growth in the construction sector from emerging economies such as India, China, and Indonesia, strong governmental initiatives, and promising gains due to the automotive sector, owing to rising socio-economic factors and ongoing projects will boost the market in the APAC region.
Key Players
The “Global Spray Adhesives Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Henkel, 3M, H.B. Fuller, Avery Dennison, Bostik, ND Industries, Sika AG, Illinois Tool Works, Quin Global, and Kissel+Wolf GmbH.
Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.
Key Developments
Partnerships, Collaborations and Agreements
- On February 2021, Henkel Corporation and FREEDM Systems Engineering Research Center announced a new partnership agreement designed to study the impact of materials technology on power electronics applications.
- On June 2021, H.B. Fuller announced a distribution agreement with Jubilant Agri and Consumer Products Ltd., a 100% subsidiary of Jubilant Industries, to address the growing demand for adhesive applications in the B2B woodworking segment. JACPL will now serve as a national channel partner of H.B. Fuller.
- On July 2021, H.B. Fuller, a global adhesives provider, has announced a strategic partnership with Covestro, one of the world’s largest polymer suppliers, to deliver an adhesive that the companies say has a reduced climate impact on the woodworking, composites, textiles, and automotive industries.
Mergers and Acquisitions
- On January 2021, Illinois Tool Works Inc., a global multi-industrial manufacturing leader, and Amphenol Corporation, a leading global provider of high-technology interconnect, antenna, and sensor solutions, announced that they have entered into an agreement under which ITW will acquire MTS Systems Corporation’s Test & Simulation business. This acquisition continues our strategy of driving solid growth and best-in-class returns in companies where highly innovative, customer-focused solutions are required. We look forward to welcoming the MTS Test & Simulation team to ITW.
Product Launches and Product Expansions
- On December 2020, Sika was expanding its cooperation with CiDRA Concrete Systems Inc., headquartered in Eden Prairie, Minnesota, and has completed a growth equity investment agreement to supplement its existing global relationship. CiDRA specializes in IoT-based digital systems to monitor concrete properties during transport.
Report Scope
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2021-2031 |
| Base Year | 2024 |
| Forecast Period | 2024-2031 |
| Historical Period | 2021-2023 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Henkel, 3M, H.B. Fuller, Avery Dennison, Bostik, ND Industries, Sika AG, Illinois Tool Works. |
| Segments Covered |
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| Customization scope | Free report customization (equivalent to up to 4 analysts’ working days) with purchase. Addition or alteration to country, regional & segment scope. |
Research Methodology of Verified Market Research:
To know more about the Research Methodology and other aspects of the research study, kindly get in touch with our Sales Team at Verified Market Research.
Reasons to Purchase this Report
• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis
• Provides insight into the market through Value Chain
• Market dynamics scenario, along with growth opportunities of the market in the years to come
• 6-month post-sales analyst support
Customization of the Report
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Frequently Asked Questions
1 INTRODUCTION OF GLOBAL SPRAY ADHESIVES MARKET
1.1 Overview of the Market
1.2 Scope of Report
1.3 Assumptions
2 EXECUTIVE SUMMARY
3 RESEARCH METHODOLOGY OF VERIFIED MARKET RESEARCH
3.1 Data Mining
3.2 Validation
3.3 Primary Interviews
3.4 List of Data Sources
4 GLOBAL SPRAY ADHESIVES MARKET OUTLOOK
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 GLOBAL SPRAY ADHESIVES MARKET, BY PRODUCT
5.1 Overview
5.2 Solvent-based
5.3 Water-based
5.4 Hot Melt
6 GLOBAL SPRAY ADHESIVES MARKET, BY APPLICATION
6.1 Overview
6.2 Transportation
6.3 Construction
6.4 Furniture
6.5 Others
7 GLOBAL SPRAY ADHESIVES MARKET, BY GEOGRAPHY
7.1 Overview
7.2 North America
7.2.1 U.S.
7.2.2 Canada
7.2.3 Mexico
7.3 Europe
7.3.1 Germany
7.3.2 U.K.
7.3.3 France
7.3.4 Rest of Europe
7.4 Asia Pacific
7.4.1 China
7.4.2 Japan
7.4.3 India
7.4.4 Rest of Asia Pacific
7.5 Rest of the World
7.5.1 Latin America
7.5.2 Middle East and Africa
8 GLOBAL SPRAY ADHESIVES MARKET COMPETITIVE LANDSCAPE
8.1 Overview
8.2 Company Market Ranking
8.3 Key Development Strategies
9 COMPANY PROFILES
9.1 Henkel
9.1.1 Overview
9.1.2 Financial Performance
9.1.3 Product Outlook
9.1.4 Key Developments
9.2 3M
9.2.1 Overview
9.2.2 Financial Performance
9.2.3 Product Outlook
9.2.4 Key Developments
9.3 H.B. Fuller
9.3.1 Overview
9.3.2 Financial Performance
9.3.3 Product Outlook
9.3.4 Key Developments
9.4 Avery Dennison
9.4.1 Overview
9.4.2 Financial Performance
9.4.3 Product Outlook
9.4.4 Key Developments
9.5 Bostik
9.5.1 Overview
9.5.2 Financial Performance
9.5.3 Product Outlook
9.5.4 Key Developments
9.6 ND Industries
9.6.1 Overview
9.6.2 Financial Performance
9.6.3 Product Outlook
9.6.4 Key Developments
9.7 Sika AG
9.7.1 Overview
9.7.2 Financial Performance
9.7.3 Product Outlook
9.7.4 Key Developments
9.8 Illinois Tool Works
9.8.1 Overview
9.8.2 Financial Performance
9.8.3 Product Outlook
9.8.4 Key Developments
9.9 Quin Global
9.9.1 Overview
9.9.2 Financial Performance
9.9.3 Product Outlook
9.9.4 Key Developments
9.10 Kissel+Wolf GmbH
9.10.1 Overview
9.10.2 Financial Performance
9.10.3 Product Outlook
9.10.4 Key Developments
10 Appendix
10.1 Related Research
Report Research Methodology
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This additionally supports the market researchers in segmenting different segments of the market for analysing them individually.
We appoint data triangulation strategies to explore different areas of the market. This way, we ensure that all our clients get reliable insights associated with the market. Different elements of research methodology appointed by our experts include:
Exploratory data mining
Market is filled with data. All the data is collected in raw format that undergoes a strict filtering system to ensure that only the required data is left behind. The leftover data is properly validated and its authenticity (of source) is checked before using it further. We also collect and mix the data from our previous market research reports.
All the previous reports are stored in our large in-house data repository. Also, the experts gather reliable information from the paid databases.
For understanding the entire market landscape, we need to get details about the past and ongoing trends also. To achieve this, we collect data from different members of the market (distributors and suppliers) along with government websites.
Last piece of the ‘market research’ puzzle is done by going through the data collected from questionnaires, journals and surveys. VMR analysts also give emphasis to different industry dynamics such as market drivers, restraints and monetary trends. As a result, the final set of collected data is a combination of different forms of raw statistics. All of this data is carved into usable information by putting it through authentication procedures and by using best in-class cross-validation techniques.
Data Collection Matrix
| Perspective | Primary Research | Secondary Research |
|---|---|---|
| Supplier side |
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| Demand side |
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Econometrics and data visualization model
Our analysts offer market evaluations and forecasts using the industry-first simulation models. They utilize the BI-enabled dashboard to deliver real-time market statistics. With the help of embedded analytics, the clients can get details associated with brand analysis. They can also use the online reporting software to understand the different key performance indicators.
All the research models are customized to the prerequisites shared by the global clients.
The collected data includes market dynamics, technology landscape, application development and pricing trends. All of this is fed to the research model which then churns out the relevant data for market study.
Our market research experts offer both short-term (econometric models) and long-term analysis (technology market model) of the market in the same report. This way, the clients can achieve all their goals along with jumping on the emerging opportunities. Technological advancements, new product launches and money flow of the market is compared in different cases to showcase their impacts over the forecasted period.
Analysts use correlation, regression and time series analysis to deliver reliable business insights. Our experienced team of professionals diffuse the technology landscape, regulatory frameworks, economic outlook and business principles to share the details of external factors on the market under investigation.
Different demographics are analyzed individually to give appropriate details about the market. After this, all the region-wise data is joined together to serve the clients with glo-cal perspective. We ensure that all the data is accurate and all the actionable recommendations can be achieved in record time. We work with our clients in every step of the work, from exploring the market to implementing business plans. We largely focus on the following parameters for forecasting about the market under lens:
- Market drivers and restraints, along with their current and expected impact
- Raw material scenario and supply v/s price trends
- Regulatory scenario and expected developments
- Current capacity and expected capacity additions up to 2027
We assign different weights to the above parameters. This way, we are empowered to quantify their impact on the market’s momentum. Further, it helps us in delivering the evidence related to market growth rates.
Primary validation
The last step of the report making revolves around forecasting of the market. Exhaustive interviews of the industry experts and decision makers of the esteemed organizations are taken to validate the findings of our experts.
The assumptions that are made to obtain the statistics and data elements are cross-checked by interviewing managers over F2F discussions as well as over phone calls.
Different members of the market’s value chain such as suppliers, distributors, vendors and end consumers are also approached to deliver an unbiased market picture. All the interviews are conducted across the globe. There is no language barrier due to our experienced and multi-lingual team of professionals. Interviews have the capability to offer critical insights about the market. Current business scenarios and future market expectations escalate the quality of our five-star rated market research reports. Our highly trained team use the primary research with Key Industry Participants (KIPs) for validating the market forecasts:
- Established market players
- Raw data suppliers
- Network participants such as distributors
- End consumers
The aims of doing primary research are:
- Verifying the collected data in terms of accuracy and reliability.
- To understand the ongoing market trends and to foresee the future market growth patterns.
Industry Analysis Matrix
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