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Spray Adhesives Market Research Report 2024-2033 | Size, Share Analysis And Strategies
Spray Adhesives Market Research
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According to The Business Research Company's, The spray adhesives market size has grown strongly in recent years. It will grow from $3.24 billion in 2023 to $3.42 billion in 2024 at a compound annual growth rate (CAGR) of 5.4%. The growth in the historic period can be attributed to growth in the construction industry, increasing popularity of DIY home improvement projects, growth in the furniture and upholstery industry, rise in the number of manufacturing facilities, and increasing awareness of the benefits of spray adhesives.
The spray adhesives market size is expected to see strong growth in the next few years. It will grow to $4.24 billion in 2028 at a compound annual growth rate (CAGR) of 5.5%. The growth in the forecast period can be attributed to rising urbanization, rising demand in the electronics industry, rising adoption of smart packaging solutions, increasing production of disposable products, growing construction of green buildings, and rising demand for non-toxic adhesives. Major trends in the forecast period include technological advancements, smart packaging solutions, digital printing, eco-friendly packaging, and wearable technology.
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Market Drivers and Trends:
Growing packaging industries are expected to propel the growth of the spray adhesive market going forward. The packaging industries include the design, manufacture, and distribution of containers and materials used to protect and market items. The growth of the packaging industry is driven by increasing consumer demand for packaged goods, advancements in packaging technology, and the rise of e-commerce. Spray adhesives help package companies optimize their operations, increase product quality, and adapt effectively to market needs, all of which contribute to the packaging industry's growth and innovation. For instance, in August 2023, according to the Flexible Packaging Association, a US-based membership organization representing financial planners, in 2022, the total U.S. flexible packaging industry reached $42.9 billion in annual sales, marking a 15.3% increase from $37.2 billion in 2021, with the value-added segment contributing $34.3 billion to the industry's overall worth. Therefore, growing packaging industries are driving the growth of the spray adhesive market.
Major companies operating in the spray adhesive market are focusing on developing innovative products, such as environmentally friendly adhesive spray, to gain a competitive advantage. An environmentally friendly adhesive spray is a bonding agent formulated with non-toxic, biodegradable, and sustainable ingredients, designed to minimize environmental impact while providing effective adhesion for various materials. For instance, in May 2022, Floorwise, a UK-based flooring solutions company, launched the F597 Heavy Duty Spray Adhesive, which is safer and more environmentally friendly than traditional spray adhesives. The F597 formulation eliminates dichloromethane, a solvent known for its carcinogenic properties and health risks, requiring only a flammability warning symbol. This change significantly reduces health hazards for users, particularly in poorly ventilated spaces where dichloromethane could pose asphyxiation risks.
Key Benefits for Stakeholders:
• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
Major Key Players of the Market:
3M Company, Henkel AG And Co. KGaA, Sika AG, Eastman Chemical Company, Avery Dennison Corporation, Huntsman Corporation, RPM International Inc., H.B. Fuller Company, Ashland Inc., Bostik SA, Pidilite Industries Limited, Intertape Polymer Group, Gorilla Glue, Phillips Manufacturing Co., Quin Global, ITW Performance Polymers, Gemini Adhesives Ltd., Spray-Lock Inc., Uniseal Inc., Westech Aerosol Corporation
Spray Adhesives Market 2024 Key Insights:
• The spray adhesives market size is expected to see strong growth in the next few years. It will grow to $4.24 billion in 2028 at a compound annual growth rate (CAGR) of 5.5%.
• Rising Packaging Industry Fuels Growth In Spray Adhesive Market
• Innovative Eco-Friendly Products Driving Competitive Advantage In The Spray Adhesive Market
• North America was the largest region in the spray adhesives market in 2023
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Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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