Spain Adhesives Market Size
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Study Period | 2017 - 2028 |
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Market Size (2024) | USD 2.21 Billion |
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Market Size (2028) | USD 2.75 Billion |
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Largest Share by End User Industry | Packaging |
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CAGR (2024 - 2028) | 5.64 % |
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Fastest Growing by End User Industry | Packaging |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
Spain Adhesives Market Analysis
The Spain Adhesives Market size is estimated at 2.21 billion USD in 2024, and is expected to reach 2.75 billion USD by 2028, growing at a CAGR of 5.64% during the forecast period (2024-2028).
2.21 Billion
Market Size in 2024 (USD)
2.75 Billion
Market Size in 2028 (USD)
6.02 %
CAGR (2017-2023)
5.64 %
CAGR (2024-2028)
Largest Market by End-user Industry
69.58 %
value share, Packaging, 2023
In the Spanish adhesives market, packaging is the dominant end-user industry owing to its wide range of adhesive applications, including labels, tapes, carton sealing and joining, and laminating.
Fastest Growing Market by End-user Industry
6.15 %
Projected CAGR, Packaging, 2024-2028
The packaging industry is forecast to witness the fastest growth owing to the rising demand for paper and paperboard packaging and plastic packaging from various end-user industries, including food and beverage and e-commerce.
Largest Market by Technology
50.54 %
value share, Water-borne, 2023
Water-borne technology, an environmentally friendly and economically viable solution, holds a major market share due to its high usage in food packaging applications through emulsion and dispersion systems.
Largest Market by Resin
25.85 %
value share, Acrylic, 2023
The acrylic-based adhesives segment holds a major market share owing to its pressure-sensitive applications in packaging, construction, and healthcare end-user industries.
Leading Market Player
4.79 %
market share, Henkel AG & Co. KGaA, 2021
Henkel AG & Co. KGaA is the leading adhesives manufacturer in Spain, which can be attributed to the popularity of its products in widespread industries including packaging, building and construction, automotive, aerospace, and woodworking.
Emerging trend of flexible packaging expected to boost the consumption of adhesives in Spain
- Adhesives play an important role in bonding and joining various substrates that are used across industries. These adhesives help manufacturers lower the weight of their components and assemblies and form joints quickly, easily, and accurately. As a result of the COVID-19 outbreak in 2020, consumption fell by 8.91% compared to 2019.
- Adhesive consumption increased by more than 411,363 ton in 2021 due to the growth of packaging applications among various end-user industries. In 2020, carton board production reached 321.6 thousand ton despite several challenges. Moreover, Spanish food packaging volume is expected to witness considerable growth at a rate of 0.3% through 2022. Factors such as rising demand for packaged meat and seafood, processed fruits and vegetables, and widespread usage of liquid cartons for tomato pastes and purees are expected to foster adhesives consumption in flexible packaging over the coming years. Waterborne adhesives are highly consumed in the industry because of their cheaper cost and high bonding strength which is required in these applications. It is seen that nearly 201 thousand tons of water-borne adhesives are consumed in the packaging industry of the country during 2021.
- Several ongoing infrastructure projects have boosted the demand for adhesives in the country. In 2019, Amazon Web Services (AWS) launched a new infrastructure region in Spain, making it its seventh region in Europe. Moreover, residential construction is expected to grow significantly over the later parts of the forecast period. According to Spain’s National Statistics Institute (INE), net household construction is anticipated to increase at an average pace of around 135,000 units annually from 2019 to 2025. This is expected to influence the market for adhesives in Spain.
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Spain Adhesives Market Trends
With the advancement in plastic recyclability and demand from the food and beverage industry, plastic packaging to lead the packaging industry
- Packaging is one of the fastest-growing industries in terms of design and technology for protecting and enhancing products' safety and longevity. The Spanish packaging industry has been majorly driven by the rapid growth of the food and beverages industry in recent years. The agri-food industry is the most promising sector in Spain and the fourth-largest agri-food market in Europe, with over 30,000 companies. Owing to the high-level promotion of country brands, Spain has positioned itself as a major exporter of food and drinks worldwide.
- Due to the COVID-19 pandemic, the country-wide lockdowns and temporary shutdown of manufacturing facilities caused several issues, including disruptions in supply chains and imports and exports. As a result, the country's packaging production declined by 6% in 2020 compared to the previous year, significantly affecting the market. Packaging production is majorly driven by paper and paperboard in the country, which accounts for nearly 52% of the packaging produced in 2021. However, with the advancement of plastic recyclability, the plastic production segment is likely to register the fastest growth of around 4.27% CAGR during the forecast period.
- The growth of the packaging industry in Spain is in line with the growing demand for fresh food domestically. The growing interest in public health issues post-pandemic, along with the emerging e-commerce activities across the nation, is likely to boost the growth of the food processing industry and further drive the demand for packaging over the coming years.
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Increasing EVs demand and government investment of public and private e-mobility investments worth EUR 24 billion to boost the automotive demand
- Spain is the second-largest automobile producer in Europe, after Germany. Spanish automotive suppliers produced EUR 35,822 million worth of products in 2019, of which 60% were exported inside and outside the European region.
- Automobile production in the country has been almost constant in the past few years. In 2019, the country produced about 28,22,355 units, registering a meager growth rate of 0.1% over 2018. The country produced about 22,68,185 units of vehicles in 2020. Automotive vehicle production contracted by 18.6% in 2020 as the COVID-19 pandemic halted the supply chain.
- In the first three quarters of 2021, automotive production increased by 4% over Q1-Q3 of 2020 and reached 1,592,277 vehicles. The country's automotive industry is likely to witness moderate demand during the forecast period. However, in 2021, the country produced about 2,098,133 vehicles, which was a decline of 8% from 2020. The semiconductor chip shortage and supply chain restrictions negatively affected the production of automotive vehicle units in the country.
- The automotive production shortfalls have recently worsened, and a strong rebound is expected in 2022, with output increasing by 18%. The Spanish electric vehicles market should benefit from the Next Generation EU fund, which supports suppliers in their shift toward e-mobility. Additionally, the Spanish government has announced public and private e-mobility investments worth EUR 24 billion over the coming three years.
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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- Increasing government investments including the Priority Project for Economic Recovery and Transformation (PERTE) leads the aerospace industry
- Increasing demand for sports footwear and the usage of automation and robotics in production lines to reduce production cost, the footwear industry is likely to propel
- Investments including National Recovery and Resilience Plan (NRRP) worth EUR 1 billion for affordable housing to lead the construction industry
- Increasing furniture demand and rising exports is likely to boost the woodworking and joinery
Spain Adhesives Industry Overview
The Spain Adhesives Market is fragmented, with the top five companies occupying 9.10%. The major players in this market are 3M, H.B. Fuller Company, Henkel AG & Co. KGaA, Huntsman International LLC and Sika AG (sorted alphabetically).
Spain Adhesives Market Leaders
3M
H.B. Fuller Company
Henkel AG & Co. KGaA
Huntsman International LLC
Sika AG
Other important companies include AC Marca, AVERY DENNISON CORPORATION, Beardow Adams, Dow, MAPEI S.p.A..
*Disclaimer: Major Players sorted in alphabetical order.
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Spain Adhesives Market News
- May 2022: Henkel introduced new products, such as Loctite Liofol LA 7818 RE / 6231 RE and Loctite Liofol LA 7102 RE / 6902 RE, to promote recyclability in the packaging industry.
- February 2022: H.B. Fuller announced the acquisition of Fourny NV to strengthen its Construction Adhesives business in Europe.
- October 2021: 3M introduced a new generation of acrylic adhesives, including 3M Scotch-Weld Low Odor Acrylic Adhesive 8700NS Series, 3M Scotch-Weld Flexible Acrylic Adhesive 8600NS Series, and 3M Scotch-Weld Nylon Bonder Structural Adhesive DP8910NS.
Free with this Report
We provide a complimentary and exhaustive set of data points on global and regional metrics that present the fundamental structure of the industry. Presented in the form of 24+ free charts, the section covers rare data on various end-user production trends including automobile production, newly built construction floor area, packaging production, aircraft deliveries, footwear production, and regional data on adhesives and sealants demand, etc.
Spain Adhesives Market Report - Table of Contents
1. EXECUTIVE SUMMARY & KEY FINDINGS
2. REPORT OFFERS
3. INTRODUCTION
- 3.1 Study Assumptions & Market Definition
- 3.2 Scope of the Study
- 3.3 Research Methodology
4. KEY INDUSTRY TRENDS
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4.1 End User Trends
- 4.1.1 Aerospace
- 4.1.2 Automotive
- 4.1.3 Building and Construction
- 4.1.4 Footwear and Leather
- 4.1.5 Packaging
- 4.1.6 Woodworking and Joinery
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4.2 Regulatory Framework
- 4.2.1 Spain
- 4.3 Value Chain & Distribution Channel Analysis
5. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2028 and analysis of growth prospects)
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5.1 End User Industry
- 5.1.1 Aerospace
- 5.1.2 Automotive
- 5.1.3 Building and Construction
- 5.1.4 Footwear and Leather
- 5.1.5 Healthcare
- 5.1.6 Packaging
- 5.1.7 Woodworking and Joinery
- 5.1.8 Other End-user Industries
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5.2 Technology
- 5.2.1 Hot Melt
- 5.2.2 Reactive
- 5.2.3 Solvent-borne
- 5.2.4 UV Cured Adhesives
- 5.2.5 Water-borne
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5.3 Resin
- 5.3.1 Acrylic
- 5.3.2 Cyanoacrylate
- 5.3.3 Epoxy
- 5.3.4 Polyurethane
- 5.3.5 Silicone
- 5.3.6 VAE/EVA
- 5.3.7 Other Resins
6. COMPETITIVE LANDSCAPE
- 6.1 Key Strategic Moves
- 6.2 Market Share Analysis
- 6.3 Company Landscape
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6.4 Company Profiles (includes Global Level Overview, Market Level Overview, Core Business Segments, Financials, Headcount, Key Information, Market Rank, Market Share, Products and Services, and Analysis of Recent Developments).
- 6.4.1 3M
- 6.4.2 AC Marca
- 6.4.3 AVERY DENNISON CORPORATION
- 6.4.4 Beardow Adams
- 6.4.5 Dow
- 6.4.6 H.B. Fuller Company
- 6.4.7 Henkel AG & Co. KGaA
- 6.4.8 Huntsman International LLC
- 6.4.9 MAPEI S.p.A.
- 6.4.10 Sika AG
7. KEY STRATEGIC QUESTIONS FOR ADHESIVES AND SEALANTS CEOS
8. APPENDIX
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8.1 Global Adhesives and Sealants Industry Overview
- 8.1.1 Overview
- 8.1.2 Porter’s Five Forces Framework (Industry Attractiveness Analysis)
- 8.1.3 Global Value Chain Analysis
- 8.1.4 Drivers, Restraints, and Opportunities
- 8.2 Sources & References
- 8.3 List of Tables & Figures
- 8.4 Primary Insights
- 8.5 Data Pack
- 8.6 Glossary of Terms
List of Tables & Figures
- Figure 1:
- VOLUME OF AIRCRAFTS DELIVERED, UNITS, SPAIN, 2017-2028
- Figure 2:
- PRODUCTION VOLUME OF AUTOMOBILES, UNITS, SPAIN, 2017-2028
- Figure 3:
- FLOOR AREA OF NEW CONSTRUCTION, SQUARE FEET, SPAIN, 2017-2028
- Figure 4:
- PRODUCTION VOLUME OF FOOTWEAR, PAIRS, SPAIN, 2017-2028
- Figure 5:
- PRODUCTION VOLUME OF PAPER & PAPER BOARD AND PLASTIC PACKAGING, TONS, SPAIN, 2017-2028
- Figure 6:
- PRODUCTION VOLUME OF FURNITURE, UNITS, SPAIN, 2017-2028
- Figure 7:
- VOLUME OF CONSUMED, KILOGRAM, SPAIN, 2017 - 2028
- Figure 8:
- VALUE OF CONSUMED, USD, SPAIN, 2017 - 2028
- Figure 9:
- VOLUME OF ADHESIVES CONSUMED BY END USER INDUSTRY, KILOGRAM, SPAIN, 2017 - 2028
- Figure 10:
- VALUE OF ADHESIVES CONSUMED BY END USER INDUSTRY, USD, SPAIN, 2017 - 2028
- Figure 11:
- VOLUME SHARE OF ADHESIVES CONSUMED BY END USER INDUSTRY, %, SPAIN, 2022 VS 2028
- Figure 12:
- VALUE SHARE OF ADHESIVES CONSUMED BY END USER INDUSTRY, %, SPAIN, 2022 VS 2028
- Figure 13:
- VOLUME OF ADHESIVES CONSUMED IN AEROSPACE INDUSTRY, KILOGRAM, SPAIN, 2017 - 2028
- Figure 14:
- VALUE OF ADHESIVES CONSUMED IN AEROSPACE INDUSTRY, USD, SPAIN, 2017 - 2028
- Figure 15:
- VALUE SHARE OF ADHESIVES CONSUMED IN AEROSPACE INDUSTRY BY TECHNOLOGY, %, SPAIN, 2021 VS 2028
- Figure 16:
- VOLUME OF ADHESIVES CONSUMED IN AUTOMOTIVE INDUSTRY, KILOGRAM, SPAIN, 2017 - 2028
- Figure 17:
- VALUE OF ADHESIVES CONSUMED IN AUTOMOTIVE INDUSTRY, USD, SPAIN, 2017 - 2028
- Figure 18:
- VALUE SHARE OF ADHESIVES CONSUMED IN AUTOMOTIVE INDUSTRY BY TECHNOLOGY, %, SPAIN, 2021 VS 2028
- Figure 19:
- VOLUME OF ADHESIVES CONSUMED IN BUILDING AND CONSTRUCTION INDUSTRY, KILOGRAM, SPAIN, 2017 - 2028
- Figure 20:
- VALUE OF ADHESIVES CONSUMED IN BUILDING AND CONSTRUCTION INDUSTRY, USD, SPAIN, 2017 - 2028
- Figure 21:
- VALUE SHARE OF ADHESIVES CONSUMED IN BUILDING AND CONSTRUCTION INDUSTRY BY TECHNOLOGY, %, SPAIN, 2021 VS 2028
- Figure 22:
- VOLUME OF ADHESIVES CONSUMED IN FOOTWEAR AND LEATHER INDUSTRY, KILOGRAM, SPAIN, 2017 - 2028
- Figure 23:
- VALUE OF ADHESIVES CONSUMED IN FOOTWEAR AND LEATHER INDUSTRY, USD, SPAIN, 2017 - 2028
- Figure 24:
- VALUE SHARE OF ADHESIVES CONSUMED IN FOOTWEAR AND LEATHER INDUSTRY BY TECHNOLOGY, %, SPAIN, 2021 VS 2028
- Figure 25:
- VOLUME OF ADHESIVES CONSUMED IN HEALTHCARE INDUSTRY, KILOGRAM, SPAIN, 2017 - 2028
- Figure 26:
- VALUE OF ADHESIVES CONSUMED IN HEALTHCARE INDUSTRY, USD, SPAIN, 2017 - 2028
- Figure 27:
- VALUE SHARE OF ADHESIVES CONSUMED IN HEALTHCARE INDUSTRY BY TECHNOLOGY, %, SPAIN, 2021 VS 2028
- Figure 28:
- VOLUME OF ADHESIVES CONSUMED IN PACKAGING INDUSTRY, KILOGRAM, SPAIN, 2017 - 2028
- Figure 29:
- VALUE OF ADHESIVES CONSUMED IN PACKAGING INDUSTRY, USD, SPAIN, 2017 - 2028
- Figure 30:
- VALUE SHARE OF ADHESIVES CONSUMED IN PACKAGING INDUSTRY BY TECHNOLOGY, %, SPAIN, 2021 VS 2028
- Figure 31:
- VOLUME OF ADHESIVES CONSUMED IN WOODWORKING AND JOINERY INDUSTRY, KILOGRAM, SPAIN, 2017 - 2028
- Figure 32:
- VALUE OF ADHESIVES CONSUMED IN WOODWORKING AND JOINERY INDUSTRY, USD, SPAIN, 2017 - 2028
- Figure 33:
- VALUE SHARE OF ADHESIVES CONSUMED IN WOODWORKING AND JOINERY INDUSTRY BY TECHNOLOGY, %, SPAIN, 2021 VS 2028
- Figure 34:
- VOLUME OF ADHESIVES CONSUMED IN OTHER END-USER INDUSTRIES INDUSTRY, KILOGRAM, SPAIN, 2017 - 2028
- Figure 35:
- VALUE OF ADHESIVES CONSUMED IN OTHER END-USER INDUSTRIES INDUSTRY, USD, SPAIN, 2017 - 2028
- Figure 36:
- VALUE SHARE OF ADHESIVES CONSUMED IN OTHER END-USER INDUSTRIES INDUSTRY BY TECHNOLOGY, %, SPAIN, 2021 VS 2028
- Figure 37:
- VOLUME OF ADHESIVES CONSUMED BY TECHNOLOGY, KILOGRAM, SPAIN, 2017 - 2028
- Figure 38:
- VALUE OF ADHESIVES CONSUMED BY TECHNOLOGY, USD, SPAIN, 2017 - 2028
- Figure 39:
- VOLUME SHARE OF ADHESIVES CONSUMED BY TECHNOLOGY, %, SPAIN, 2022 VS 2028
- Figure 40:
- VALUE SHARE OF ADHESIVES CONSUMED BY TECHNOLOGY, %, SPAIN, 2022 VS 2028
- Figure 41:
- VOLUME OF HOT MELT ADHESIVES CONSUMED, KILOGRAM, SPAIN, 2017 - 2028
- Figure 42:
- VALUE OF HOT MELT ADHESIVES CONSUMED, USD, SPAIN, 2017 - 2028
- Figure 43:
- VALUE SHARE OF HOT MELT ADHESIVES CONSUMED BY RESIN, %, SPAIN, 2021 VS 2028
- Figure 44:
- VOLUME OF REACTIVE ADHESIVES CONSUMED, KILOGRAM, SPAIN, 2017 - 2028
- Figure 45:
- VALUE OF REACTIVE ADHESIVES CONSUMED, USD, SPAIN, 2017 - 2028
- Figure 46:
- VALUE SHARE OF REACTIVE ADHESIVES CONSUMED BY RESIN, %, SPAIN, 2021 VS 2028
- Figure 47:
- VOLUME OF SOLVENT-BORNE ADHESIVES CONSUMED, KILOGRAM, SPAIN, 2017 - 2028
- Figure 48:
- VALUE OF SOLVENT-BORNE ADHESIVES CONSUMED, USD, SPAIN, 2017 - 2028
- Figure 49:
- VALUE SHARE OF SOLVENT-BORNE ADHESIVES CONSUMED BY RESIN, %, SPAIN, 2021 VS 2028
- Figure 50:
- VOLUME OF UV CURED ADHESIVES ADHESIVES CONSUMED, KILOGRAM, SPAIN, 2017 - 2028
- Figure 51:
- VALUE OF UV CURED ADHESIVES ADHESIVES CONSUMED, USD, SPAIN, 2017 - 2028
- Figure 52:
- VALUE SHARE OF UV CURED ADHESIVES ADHESIVES CONSUMED BY RESIN, %, SPAIN, 2021 VS 2028
- Figure 53:
- VOLUME OF WATER-BORNE ADHESIVES CONSUMED, KILOGRAM, SPAIN, 2017 - 2028
- Figure 54:
- VALUE OF WATER-BORNE ADHESIVES CONSUMED, USD, SPAIN, 2017 - 2028
- Figure 55:
- VALUE SHARE OF WATER-BORNE ADHESIVES CONSUMED BY RESIN, %, SPAIN, 2021 VS 2028
- Figure 56:
- VOLUME OF ADHESIVES CONSUMED BY RESIN, KILOGRAM, SPAIN, 2017 - 2028
- Figure 57:
- VALUE OF ADHESIVES CONSUMED BY RESIN, USD, SPAIN, 2017 - 2028
- Figure 58:
- VOLUME SHARE OF ADHESIVES CONSUMED BY RESIN, %, SPAIN, 2022 VS 2028
- Figure 59:
- VALUE SHARE OF ADHESIVES CONSUMED BY RESIN, %, SPAIN, 2022 VS 2028
- Figure 60:
- VOLUME OF ACRYLIC ADHESIVES CONSUMED, KILOGRAM, SPAIN, 2017 - 2028
- Figure 61:
- VALUE OF ACRYLIC ADHESIVES CONSUMED, USD, SPAIN, 2017 - 2028
- Figure 62:
- VALUE SHARE OF ACRYLIC ADHESIVES CONSUMED BY END USER INDUSTRY, %, SPAIN, 2021 VS 2028
- Figure 63:
- VOLUME OF CYANOACRYLATE ADHESIVES CONSUMED, KILOGRAM, SPAIN, 2017 - 2028
- Figure 64:
- VALUE OF CYANOACRYLATE ADHESIVES CONSUMED, USD, SPAIN, 2017 - 2028
- Figure 65:
- VALUE SHARE OF CYANOACRYLATE ADHESIVES CONSUMED BY END USER INDUSTRY, %, SPAIN, 2021 VS 2028
- Figure 66:
- VOLUME OF EPOXY ADHESIVES CONSUMED, KILOGRAM, SPAIN, 2017 - 2028
- Figure 67:
- VALUE OF EPOXY ADHESIVES CONSUMED, USD, SPAIN, 2017 - 2028
- Figure 68:
- VALUE SHARE OF EPOXY ADHESIVES CONSUMED BY END USER INDUSTRY, %, SPAIN, 2021 VS 2028
- Figure 69:
- VOLUME OF POLYURETHANE ADHESIVES CONSUMED, KILOGRAM, SPAIN, 2017 - 2028
- Figure 70:
- VALUE OF POLYURETHANE ADHESIVES CONSUMED, USD, SPAIN, 2017 - 2028
- Figure 71:
- VALUE SHARE OF POLYURETHANE ADHESIVES CONSUMED BY END USER INDUSTRY, %, SPAIN, 2021 VS 2028
- Figure 72:
- VOLUME OF SILICONE ADHESIVES CONSUMED, KILOGRAM, SPAIN, 2017 - 2028
- Figure 73:
- VALUE OF SILICONE ADHESIVES CONSUMED, USD, SPAIN, 2017 - 2028
- Figure 74:
- VALUE SHARE OF SILICONE ADHESIVES CONSUMED BY END USER INDUSTRY, %, SPAIN, 2021 VS 2028
- Figure 75:
- VOLUME OF VAE/EVA ADHESIVES CONSUMED, KILOGRAM, SPAIN, 2017 - 2028
- Figure 76:
- VALUE OF VAE/EVA ADHESIVES CONSUMED, USD, SPAIN, 2017 - 2028
- Figure 77:
- VALUE SHARE OF VAE/EVA ADHESIVES CONSUMED BY END USER INDUSTRY, %, SPAIN, 2021 VS 2028
- Figure 78:
- VOLUME OF OTHER RESINS ADHESIVES CONSUMED, KILOGRAM, SPAIN, 2017 - 2028
- Figure 79:
- VALUE OF OTHER RESINS ADHESIVES CONSUMED, USD, SPAIN, 2017 - 2028
- Figure 80:
- VALUE SHARE OF OTHER RESINS ADHESIVES CONSUMED BY END USER INDUSTRY, %, SPAIN, 2021 VS 2028
- Figure 81:
- MOST ACTIVE COMPANIES BY NUMBER OF STRATEGIC MOVES, SPAIN, 2019 - 2021
- Figure 82:
- MOST ADOPTED STRATEGIES, COUNT, SPAIN, 2019 - 2021
- Figure 83:
- REVENUE SHARE OF ADHESIVES BY MAJOR PLAYERS, %, SPAIN, 2021
Spain Adhesives Industry Segmentation
Aerospace, Automotive, Building and Construction, Footwear and Leather, Healthcare, Packaging, Woodworking and Joinery are covered as segments by End User Industry. Hot Melt, Reactive, Solvent-borne, UV Cured Adhesives, Water-borne are covered as segments by Technology. Acrylic, Cyanoacrylate, Epoxy, Polyurethane, Silicone, VAE/EVA are covered as segments by Resin.
- Adhesives play an important role in bonding and joining various substrates that are used across industries. These adhesives help manufacturers lower the weight of their components and assemblies and form joints quickly, easily, and accurately. As a result of the COVID-19 outbreak in 2020, consumption fell by 8.91% compared to 2019.
- Adhesive consumption increased by more than 411,363 ton in 2021 due to the growth of packaging applications among various end-user industries. In 2020, carton board production reached 321.6 thousand ton despite several challenges. Moreover, Spanish food packaging volume is expected to witness considerable growth at a rate of 0.3% through 2022. Factors such as rising demand for packaged meat and seafood, processed fruits and vegetables, and widespread usage of liquid cartons for tomato pastes and purees are expected to foster adhesives consumption in flexible packaging over the coming years. Waterborne adhesives are highly consumed in the industry because of their cheaper cost and high bonding strength which is required in these applications. It is seen that nearly 201 thousand tons of water-borne adhesives are consumed in the packaging industry of the country during 2021.
- Several ongoing infrastructure projects have boosted the demand for adhesives in the country. In 2019, Amazon Web Services (AWS) launched a new infrastructure region in Spain, making it its seventh region in Europe. Moreover, residential construction is expected to grow significantly over the later parts of the forecast period. According to Spain’s National Statistics Institute (INE), net household construction is anticipated to increase at an average pace of around 135,000 units annually from 2019 to 2025. This is expected to influence the market for adhesives in Spain.
| End User Industry | Aerospace |
| Automotive | |
| Building and Construction | |
| Footwear and Leather | |
| Healthcare | |
| Packaging | |
| Woodworking and Joinery | |
| Other End-user Industries | |
| Technology | Hot Melt |
| Reactive | |
| Solvent-borne | |
| UV Cured Adhesives | |
| Water-borne | |
| Resin | Acrylic |
| Cyanoacrylate | |
| Epoxy | |
| Polyurethane | |
| Silicone | |
| VAE/EVA | |
| Other Resins |
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Market Definition
- End-user Industry - Building & Construction, Packaging, Automotive, Aerospace, Woodworking & Joinery, Footwear & Leather, Healthcare, and Others are the end-user industries considered under the adhesives market.
- Product - All adhesive products are considered in the market studied
- Resin - Under the scope of the study, resins like Polyurethane, Epoxy, Acrylic, Cyanoacrylate, VAE/EVA, and Silicone are considered
- Technology - For the purpose of this study, Water-borne, Solvent-borne, Reactive, Hot Melt, and UV Cured adhesive technologies are taken into consideration.
| Keyword | Definition |
|---|---|
| Hot-melt Adhesive | Hot melt adhesives are generally 100% solid formulations, based on thermoplastic polymers. They are solid at room temperature and are activated upon heating above their softening point, at which stage they are liquid, and hence, can be processed. |
| Reactive Adhesive | A reactive adhesive is made up of monomers that react in the adhesive curing process and do not evaporate from the film during use. Instead, these volatile components become chemically incorporated into the adhesive. |
| Solvent-borne Adhesive | Solvent-borne adhesives are mixtures of solvents and thermoplastic, or slightly cross-linked polymers, such as polychloroprene, polyurethane, acrylic, silicone, and natural and synthetic rubbers (elastomers). |
| Water-borne Adhesive | Water-borne adhesives use water as a carrier or diluting medium to disperse a resin. They are set by allowing the water to evaporate or be absorbed by the substrate. These adhesives are compounded with water as a diluent, rather than a volatile organic solvent. |
| UV Cured Adhesive | UV curing adhesives induce curing and create a permanent bond without heating by using ultraviolet (UV) light or other radiation sources. An aggregation of monomers and oligomers is cured or polymerized by ultraviolet (UV) or visible light in a UV adhesive. Because UV is a radiating energy source, UV adhesives are often referred to as radiation curing or rad-cure adhesives. |
| Heat-resistant Adhesive | Heat-resistant Adhesives refer to those that do not break down under high temperatures. One aspect of a complicated system of circumstances is the adhesive's capacity to withstand disintegration brought on by high temperatures. As the temperature rises, adhesives may liquefy. They can withstand stresses resulting from differing coefficients of expansion and contraction, which might be an additional advantage. |
| Reshoring | Reshoring is the practice of moving commodity production and manufacturing back to the nation where the business was founded. Onshoring, inshoring, and back shoring are further terms used. Offshoring, the practice of producing items abroad to lower labor and manufacturing costs, is the opposite of this. |
| Oleochemicals | Oleochemicals are compounds produced from biological oils or fats. They resemble petrochemicals, which are substances made from petroleum. The oleochemical business is built on the hydrolysis of oils or fats. |
| Nonporous Materials | Nonporous materials are substances that do not permit the passage of liquid or air. Nonporous materials are those that are not porous, such as glass, plastic, metal, and varnished wood. Since no air can get through, less airflow is required to raise these materials, negating the requirement for high airflow. |
| EU-Vietnam Free Trade Agreement | A trade agreement and an investment protection agreement were concluded between the European Union and Vietnam on June 30, 2019. |
| VOC content | Compounds with limited solubility in water and high vapor pressure are known as Volatile Organic Compounds (VOCs). Many VOCs are human-made chemicals that are used and produced in the manufacture of paints, pharmaceuticals, and refrigerants. |
| Emulsion Polymerization | Emulsion polymerization is a method of producing polymers or connected groups of smaller chemical chains known as monomers, in a water solution. The method is often used to make water-based paints, adhesives, and varnishes, in which the water stays with the polymer and is marketed as a liquid product. |
| 2025 National Packaging Targets | In 2018, the Australian Environment Ministry set the following 2025 National Packaging Targets: 100% of the packaging must be reusable, recyclable, or compostable by 2025, 70% of plastic packaging must be recycled or composted by 2025, 50% of average recycled content must be included in packaging by 2025, and problematic and unnecessary single-use plastic packaging must be phased out by 2025. |
| Russian Government’s Import Substitution Policy | The Western sanctions suspended the distribution of several high-tech items to Russia, including those required by the raw material export sectors and the military-industrial complex. In response, the government launched an "import substitution" scheme, appointing a special commission to oversee its implementation in early 2015. |
| Paper Substrate | Paper substrates are paper sheets, reels, or boards with a base weight of up to 400 g/m2 that has not been converted, printed or otherwise altered. |
| Insulation Material | A material that inhibits or blocks heat, sound, or electrical transmission is known as Insulation Material. The variety of insulation materials includes thick fibers like fiberglass, rock and slag wool, cellulose, and natural fibers as well as stiff foam boards and sleek foils. |
| Thermal Shock | A temperature change known as thermal shock generates stress in a material. It commonly results in material breakdown and is especially prevalent in brittle materials like ceramics. When there is a quick temperature change, either from hot to cold or vice versa, this process occurs abruptly. It occurs more frequently in materials with poor heat conductivity and insufficient structural integrity. |
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Research Methodology
Mordor Intelligence follows a four-step methodology in all our reports.
- Step-1: Identify Key Variables: The quantifiable key variables (industry and extraneous) pertaining to the specific product segment and country are selected from a group of relevant variables & factors based on desk research & literature review; along with primary expert inputs. These variables are further confirmed through regression modeling (wherever required).
- Step-2: Build a Market Model: In order to build a robust forecasting methodology, the variables and factors identified in Step-1 are tested against available historical market numbers. Through an iterative process, the variables required for market forecast are set and the model is built on the basis of these variables.
- Step-3: Validate and Finalize: In this important step, all market numbers, variables and analyst calls are validated through an extensive network of primary research experts from the market studied. The respondents are selected across levels and functions to generate a holistic picture of the market studied.
- Step-4: Research Outputs: Syndicated Reports, Custom Consulting Assignments, Databases & Subscription Platforms
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