Spray Adhesives Market Analysis

Spray Adhesives Market Analysis

Industry based on technology into solvent based, water based and hot melt. Solvent based spray adhesives market size in terms of volume was estimated over USD 600 million in 2018, likely to witness gains of more than 3.5% in the forecast time frame. This category of adhesives is used to glue materials by ingredients which are polymer based within the solvent. It is generally used in the building & construction, transportation and electronics industry. However, high VOC emissions produced by solvent based adhesives may led to moderate growth rate in the coming years. Water based adhesives are increasingly being adopted in order to minimize VOC emissions and are cost effective nature.

Epoxy based resins attained the largest market share which constituted share of around 45% of the worldwide spray adhesives market share in 2018. This is mainly attributed to its excellent features such as low shrinkage, excellent chemical and moisture resistance, strong fatigue and mechanical strength. Epoxy based adhesives are commonly used in laminating fiberglass with plywood and it imparts durability and strength to the structure. The product is an excellent choice to be used in coating wooden surfaces.

Spray adhesives are used across several end-user industries including building & construction, packaging, transportation, footwear, hygiene and many others. Transportation and building & construction constitutes a major chunk of the overall industry share which is followed by packaging and footwear. In transportation, the product is used in aerospace and aircrafts, automotive module sealings and in liquid gasket sealants, rail, vehicle assembly, etc. Furthermore, it offers excellent bond strength, durability, vibration resistance, thermal cycling and electrical conductivity and exposure to a variety of chemicals. On the other hand, in footwear industry, it is used for shoe manufacturing and repairing purposes. The product is used to glue several materials utilized in the shoe manufacturing process at various stages such as modelling, lasting, finishing, assembling, etc.

Asia Pacific attained the highest share which accounted for over 35% of the total spray adhesives market size in 2018. This is mainly attributed to strong growth in the construction sector from emerging economies such as India, China, Indonesia and Malaysia. For instance, China is leading adhesives market due to growing infrastructural; activities in the country which is supported by large infrastructure projects being proposed by the government. Moreover, Asia Pacific is expected to witness promising gains due to automotive sector, owing to rising socio-economic factors in the region.
 

Europe market share over 25% of the global market size in 2018. UK registered itself as the second largest automobile market in Europe. As per Eurostat and OICA, UK accounts for the largest automobile producing country in Europe. Furthermore, growing investment in research and development activities in the automotive sector will also contribute significantly to the spray adhesives demand in the coming years.