Adhesives & Sealants, Industry News

Solvent-Based Formulations Lead Spray Adhesives Market Growth

Solvent-Based Formulations Lead Spray Adhesives Market Growth

Image: Olger Fallas, Flickr

The spray adhesives market is projected to reach $3.41 billion by 2022 from the estimated $2.72 billion in 2017, at a compound annual growth rate (CAGR) of 4.6%, according to a report published by MarketsandMarkets. The solvent-based spray adhesive segment reportedly accounts for the largest share of the overall spray adhesives market.

Furniture, or wood working, was reported as one of the major end-use industries of spray adhesives.

Asia-Pacific is projected to be the fastest-growing market for spray adhesives. China is projected to be the largest market for spray adhesives in the Asia-Pacific region, while the market in India is projected to register the highest CAGR during the forecast period. Growing urbanization and increasing disposable income of people in the region is fueling the growth of automotive, construction, and furniture industries, thereby, increasing demand for spray adhesives in the region.

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