Spray adhesives market to reach EUR 8,1 billion by 2025
According to a new research report, the global spray adhesives market is set to grow from its current market value of more than EUR 6,3 billion to over EUR 8,1 billion by 2025.
Strengthened by rising packaging industry worldwide, spray adhesives demand is expected to rise in the projected time period. They are used across many packaging applications including cut out windows laminating, film laminating, bonding of folding boxes, etc. These adhesives ensure a permanent and reliable bond and in addition provides sustainability, food safety and energy efficiency. It is mostly used for wraps, sealing bags and trays.
Rising consumption in food industry will trigger packaging market growth
Rising consumption of soft drinks, bakery products, dairy products and cereals within the food industry will trigger packaging market growth in the forecast timespan. China maintains its consistency to be amongst the main flexible packaging consumer in 2018, despite India maintaining gains of approximately 8% in the same time frame.
Oscillating raw material prices is the key factor likely to hinder the market growth by 2025. Polyurethane, epoxy and synthetic rubber are extracted from petrochemicals and hence their prices varies in accordance with crude oil prices. Instability in prices restrict product demand to an extent. Although with technology advancements and innovation, product demand is anticipated to propel in the spray adhesives market coming years.
The study is available via the website of Global Market Insights.
