United States Spray Adhesive Market to Grow with a CAGR of 3.65% through 2028
Surge in research and development activities is expected to drive the United
States Spray Adhesive Market growth in the forecast period, 2024-2028.
According to TechSci Research report, “United
States Spray Adhesive Market– By Region, Competition, Forecast and
Opportunities, 2018-2028F”, the United States Spray Adhesive Market stood
at USD287.68 million in 2022 and is anticipated to grow with a CAGR of 3.65% in
the forecast period, 2023-2028. The initiatives taken by government based on spray
adhesive has led to favorable market conditions for the United States Spray
Adhesive Market. Several factors contribute to the growth of various spray adhesive
market products.
The United
States Consumer Product Safety Commission (CPSC) has played a crucial role in
overseeing and regulating the spray adhesive market. Over the years, they have
implemented bans on specific aerosol spray adhesives that were identified as
"banned hazardous substances" under Federal regulations. These
measures were put in place to ensure the safety of consumers and to prevent any
potential harm associated with the use of these products.
However, in
light of new evidence received from various reliable sources, the CPSC has
recently announced its intention to lift some of these previous bans. This
decision is based on a thorough evaluation of the safety standards and the
potential risks associated with these aerosol spray adhesives. The CPSC's
commitment to consumer safety remains unwavering, and their decision to lift
certain bans reflects their dedication to ensuring the highest level of
protection for consumers.
Furthermore, in
a separate instance, the CPSC has taken additional action by banning nine more
aerosol spray adhesives. This reaffirms the commission's recommendation for
consumers to discontinue using specific aerosol spray glues due to potential
safety concerns. These proactive measures highlight the government's ongoing
commitment to consumer safety and the enforcement of stringent standards for
spray adhesives.
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Research and
Development (R&D) plays a pivotal role in meeting regulatory standards. In
order to comply with evolving environmental and safety regulations, companies
are actively engaged in developing innovative formulations. By doing so, they
not only ensure the legality of their products but also enhance their appeal to
environmentally conscious consumers. This not only leads to an increase in
sales but also establishes a positive brand image as a responsible industry
player committed to sustainability. Through continuous R&D efforts,
companies can stay ahead of the curve, adapting to changing regulations and
consumer demands while maintaining their competitive edge in the market.
The United
States Spray Adhesive Market is segmented in chemistry, end user, regional
distribution, and company.
Based on its end user, the transportation segment held
the largest share in the market. The increasing production of vehicles, driven
by factors such as population growth and economic development, is a significant
contributing factor to the dominance of the transportation sector in the spray
adhesive market. As vehicle production continues to rise, the demand for spray
adhesives is expected to grow in parallel. This can be attributed to the
essential role that adhesives play in various aspects of vehicle assembly,
including bonding different components and materials together. As a result, the
spray adhesive market is projected to experience sustained growth, fueled by
the ongoing expansion of the automotive industry and its related sectors.
Based on region, Mid-West segment is expected to grow
during the forecast period.
The Midwest's strategic location, nestled in the heart
of the United States, offers unparalleled advantages for companies in the spray
adhesive market looking to establish their operations. With its convenient
proximity to both the East and West coasts, as well as major markets across the
nation, the Midwest serves as a gateway to limitless possibilities.
In addition to its prime location, the region boasts
an extensive transportation infrastructure that further enhances the
distribution of spray adhesives. From well-connected highways and railways to
efficient air cargo networks, the Midwest ensures seamless and swift delivery
of products to every corner of the country.
By capitalizing on the Midwest's optimal positioning
and robust transportation system, companies in the spray adhesive industry can
maximize their reach and tap into a vast customer base. The region's allure as
a business hub is undeniable, attracting enterprises seeking to thrive in a
dynamic and interconnected marketplace.
Major companies operating in United States Spray
Adhesive Market are:
- Henkel Corporation
- The 3M Company
- HB Fuller Adhesives LLC
- Avery Dennison Corporation
- BASF Corporation
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“Growing application of spray adhesive in various end
user industries are key drivers of the spray adhesive market. Growth in
competitive landscape and presence of well-established companies in the market
who are dedicated to enhance their productivity of spray adhesive with every
passing year are anticipated to register an impressive growth to United States
Spray Adhesive Market in the forecast period.,” said Mr. Karan Chechi, Research
Director with TechSci Research, a research-based management consulting firm.
“United States Spray Adhesive Market By Chemistry (Epoxy,
Polyurethane, Synthetic Rubber, Vinyl Acetate Ethylene, Others), By End User (Transportation,
Construction, Furniture, Packaging, Textile, Others), By Region, By Competition Forecast & Opportunities, 2018-2028F”, has evaluated
the future growth potential of United States Spray Adhesive Market and provides
statistics & information on market size, structure, and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in United States Spray Adhesive Market.
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