(MoneyNewsWire.Net, July 02, 2018 ) The spray adhesive market is projected to witness a compound annual growth rate of 5.81% over the forecast period to reach a total market size of US$5.143 billion by 2023, increasing from US$3.665 billion in 2017.
Major industry players profiled as part of the report are BASF SE, Bickers GmbH, Gemini adhesives ltd., Eastman Chemical Company and 3M among others.
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Spray Adhesives are used in a variety of applications across various end-user industry verticals. There is an availability of different types of spray adhesives according to different strengths and uses. It helps in less work and is neat, easier to apply avoiding problems like overspray. The Asia Pacific is the emerging market for spray adhesives in the forecast period. Whereas, North America and Europe have a significant market share in the global spray adhesive market.
The rise in disposable income and constant urbanization are the major driving factors contributing towards the growth of spray adhesive market. Also, a high growth in the construction sector, wide usage in woodwork application, innovations in furniture and décor coupled with rising demand for aesthetic furniture will aid in fueling the demand for the global spray adhesive market.
This research study examines the current market trends related to the demand, supply, and sales, in addition to the recent developments. Major drivers, restraints, and opportunities have been covered to provide an exhaustive picture of the market. The analysis presents in-depth information regarding the development, trends, and industry policies and regulations implemented in each of the geographical region. Further, the overall regulatory framework of the market has been exhaustively covered to offer stakeholders a better understanding of the key factors affecting the overall market environment.
Identification of key industry players in the industry and their revenue contribution to the overall business or relevant segment aligned to the study have been covered as a part of competitive intelligence done through extensive secondary research. Various studies and data published by industry associations, analyst reports, investor presentations, press releases and journals among others have been taken into consideration while conducting the secondary research.
Both bottom-up and top down approaches have been utilized to determine the market size of the overall market and key segments. The values obtained are correlated with the primary inputs of the key stakeholders in the spray adhesive value chain. Last step involves complete market engineering which includes analyzing the data from different sources and existing proprietary datasets while using various data triangulation methods for market breakdown and forecasting.
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