Spray Adhesives Market to Reach $8 Billion
Robust automotive industry growth in India is reportedly a significant driving factor.
The global spray adhesives market is expected to reach $8.08 billion by 2025, growing at a compound annual growth rate (CAGR) of 5.5%, according to a recent report from Research and Markets. According to the report, Asia Pacific is estimated to depict a high industry growth during the forecast period. China and India are reportedly the major countries that are likely to create a positive impact on spray adhesives demand by 2025.
Robust automotive industry growth in India is reportedly a significant driving factor that is expected to enhance the product consumption in the next couple of years. Owing to the “Make in India” initiative, the manufacturing output of commercial and passenger vehicles is slated to increase in the future. This in turn is estimated to propel the use of fast dry and high tack glues for use in automotive interior components over the years ahead.
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