06-Feb-2020 | Facts and Factors
Facts and Factors has authored “Multipurpose Spray Adhesive Market By Type (Solvent-based, Water-based, Hot Melt, and Others), By Chemistry (Epoxy, Polyurethane, Synthetic Rubber, Vinyl Acetate Ethylene, and Others) and By Application (Transportation, Construction, Furniture, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2019 – 2026”. Based on our analysis, the global Multipurpose Spray Adhesive Market in 2019 is approximately USD 2,600 and is anticipated to reach around USD 3,700 Million by 2026. The anticipated CAGR for the multipurpose spray adhesive market is around 5% from 2020 to 2026.
Spray adhesive is a mixture of various chemicals and is used in several industrial applications such as construction, transportation, and furniture among others. Multipurpose spray adhesives are fast and bonds quickly that reduces the time taken by the adhesive to set. Multipurpose spray adhesive due to its versatile features like strong bonding, fast track, and durability it is widely used as a substitute for white glue, hot glue, tapes, and other adhesives. The spray adhesives also provide good shear strength and high flexibility.
Browse the full “Multipurpose Spray Adhesive Market By Type (Solvent-based, Water-based, Hot Melt, and Others), By Chemistry (Epoxy, Polyurethane, Synthetic Rubber, Vinyl Acetate Ethylene, and Others) and By Application (Transportation, Construction, Furniture, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2019 – 2026” report at https://www.fnfresearch.com/multipurpose-spray-adhesive-market
The growing usage of spray adhesives in various end-use industries is one of the major factors driving the global multipurpose spray adhesives market. The consumption of spray adhesives is rapidly increasing in industries like the automotive and construction industry. The surging automotive industry in India is likely to boost the demand for multipurpose spray adhesives. Due to the ‘Make in India’ initiative, the manufacturing output of passenger and commercial vehicles are projected to increase in the upcoming years. Additionally, the rising construction activities in developing countries like India, China, Brazil, Indonesia, and Africa are anticipated to increase the demand for adhesives in various applications, thereby, propelling the market growth of the multipurpose spray adhesives, globally. The fluctuating prices of raw materials are expected to act as a restraining factor for the global multipurpose spray adhesives market. In addition to this, high VOC emissions caused by solvent-based adhesives are also likely to hamper market growth. Furthermore, the technological innovation in the hot melts and low VOC mixes is projected to offer lucrative opportunities in the forecast period of 2020-2026.
In 2019, water-based adhesives dominated the global multipurpose spray adhesives market accounting for more than 40% of the share. Water-based adhesives feature the low VOC emissions and are cost-effective, and therefore, it is widely used in insulation and architectural & decorative applications. Moreover, the hot melt adhesive category of multipurpose spray adhesives is projected to grow at the highest CAGR in the next few years. This is attributed to the stringent environmental regulations regarding the VOC content in spray adhesives. Based on the chemistry segment, synthetic rubber was the dominating category of the global multipurpose spray adhesives market. Based on the application, the transportation category dominated the market and is projected to grow at the fastest pace in the future. The growing automotive industry across the globe is likely to escalate the consumption of multipurpose spray adhesives.
Geographically, in 2019, North America dominated the global multipurpose spray adhesives market. The emerging industrial sector in North America is one of the major factors driving the regional market. China is projected to grow at the fastest pace in the upcoming years. The growing infrastructural activities in the country are estimated to increase the usage of multipurpose spray adhesives.
The key players operating in the global multipurpose spray adhesives market are Henkel, Spray-Lock Inc., H.B. Fuller, Sika AG, Bostik, 3M, Kissel+Wolf GmbH, ND Industries, Gemini Adhesives, Quin Global, AFT Aerosols, Avery Dennison Corporation, Illinois Tool Works, Westech Aerosol Corporation, and Elmer's among Others.
This report segments the Multipurpose Spray Adhesive market as follows:
Global Multipurpose Spray Adhesive Market: By Type Segment Analysis
Global Multipurpose Spray Adhesive Market: By Chemistry Segment Analysis
Global Multipurpose Spray Adhesive Market: By Application Segment Analysis
Global Multipurpose Spray Adhesive Market: Regional Segment Analysis
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