Knowledge Sourcing Intelligence announces the publication of a new analysis report based on the “Spray Adhesive Market - which is forecasted from 2020 to 2027”.
The prime factor driving the growth of the Spray Adhesive Market is the growing adoption of spray adhesives across various end-user industry verticals, with a significant portion of this demand coming from industries such as construction, packaging, automotive and transportation, among several others.
As per the report, the market for Spray Adhesives Market is expected to grow at a steady pace.
Spray Adhesives are used for a variety of applications in various end-user industry verticals due to the availability of different types of spray adhesives according to their varied uses and different strengths. It requires less work and is also neater and easier to be applied, avoiding problems like overspray of the product. Furthermore, the increasing participation in strategic developments by several major and minor market players in the form of collaborative partnerships and product launches to further augment the adoption of the spray adhesive to increase their market share is further expected to boost the market and provide increased growth opportunities during the forecast period.
Based on type, the Spray Adhesive Market offers water-based, solvent-based, hot melt and Others. The solvent-based segment is projected to account for a considerable share of the market owing to its broad application across different industry verticals. Further, the hot melt segment is expected to grow at an exponential rate due to the stringent environmental regulations being implemented across the globe.
Based on end-user, the Spray Adhesive Market caters to construction, packaging, furniture and Others. The construction sector is expected to grow at a substantial rate across the world owing to the rising disposable income coupled with growing government initiatives to boost residential, as well as infrastructural development. Further, the packaging industry has been evolving significantly owing to the burgeoning demand for a wide range of consumer products such as electronics, sanitary, food and beverages, and personal care, among others.
Based on geography segmentation, the Spray Adhesive Market is segmented into North America, Europe, South America, the Middle East and Africa, and Asia Pacific regions. Geographically, the Asia Pacific region is likely to account for a sizable market share and to experience quick expansion due to the presence of key market players along with the established steel industry in the region. Further, the expanding construction and automotive industries in developing countries like China and India are also expected to augment growth in the region.
As a part of the report, the major players operating in the Spray Adhesive Market have been covered. The key players in the Spray Adhesive Market include Phillips MFG, Asbury Carbons, GrafTech International, Mitsubishi Chemical Corporation, SojitzJECT Corporation and Indian Oil Corporation.
View a sample of the report or purchase the complete study at https://www.knowledge-sourcing.com/report/spray-adhesive-market
This analytics report segments the Spray Adhesive Market on the following basis: