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According to the new market research report “Spray Adhesives Market by Chemistry (Epoxy, Polyurethane, Synthetic Rubber, Vinyl Acetate Ethylene), Type (Solvent-Based, Water-Based, Hot Melt), End-Use Industry (Transportation, Construction, Furniture), and Region – Global Forecast to 2022″, The spray adhesives market size is projected to reach USD 3.41 Billion by 2022 from the estimated USD 2.72 Billion in 2017, at a CAGR of 4.6%. Spray adhesives are used in transportation (automotive, aerospace, and marine), construction (flooring, roofing, and insulation), furniture, and other industries. Other industries include packaging, textiles, and leather.
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The solvent-based spray adhesive segment accounts for the largest share of the overall spray adhesives market. The performance of solvent-based adhesive is mainly determined by the base polymer of the adhesive. The adhesive is mixed with a solvent to decrease their viscosity, thus, making it easier to apply with spray. Most of the solvent-based spray adhesives are based on synthetic rubbers. High resistance to oils & fluids and significant heat stability increases the applicability of solvent-based spray adhesives in various end-use industries such as automotive and aerospace. Their ability to form a strong and long-lasting bond also makes them popular.
Furniture or wood working is one of the major end-use industries of spray adhesives. Almost two-thirds of wood products today are totally or partially bonded together using a variety of adhesives. This is because adhesive bonding offers several advantages over other joining methods for wood components. Companies are investing in R&D to synthesize environmentally friendly and skin-friendly wood adhesives. Spray adhesives are easy to handle and help in achieving clean and neat application. This makes them more user-friendly than other adhesives. Also, with controlled spray pattern, one can reduce overspray and wastage of adhesive materials. Spray adhesives are used in bonding decorative laminates, cushions, foams, and fabrics to wooden parts of furniture. They also adhere polyethylene and polypropylene to wood and metal in furniture.
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The spray adhesives market size is projected to reach USD 3.41 Billion by 2022, at a projected CAGR of 4.6% between 2017 and 2022. Spray adhesives are known for their characteristics such as easy handling, low wastage, and faster application. They are used to bond a variety of substrates, including foam, fabric, metal, wood, and plastics.
New product launches and expansions and acquisitions were the key strategies adopted by the leading players to strengthen their positions in the spray adhesives market between 2014 and 2017. Some of the leading players operating in the spray adhesives market are Bostik SA (US), H.B. Fuller (US), Henkel (Germany), Quin Global (US), Sika AG (Switzerland), and 3M (US). These companies adopted strategies such as new product development, expansion, and acquisition to expand their product portfolios and extend their reach to new customers.
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Bostik SA has a high brand value in the spray adhesives market. The spray adhesives provided by Bostik are used in transportation, construction, and furniture industries. In 2017, the company opened a new production facility in India to meet the growing demand for hot melt pressure-sensitive adhesives (HMPSA) in the country. In the same year, Bostik acquired a US-based company XL Brands, which manufactures adhesives for resilient and soft flooring. This acquisition will help Bostik to become one of the leaders in floor covering adhesives in the US. These developments have benefited Bostik in terms of increased distribution network and production capacity in developing markets.
H.B. Fuller has five operating segments: Americas Adhesives, EIMEA (Europe, India, Middle East and Africa), Asia Pacific, Construction Products, and Engineering Adhesives. The Americas Adhesives, EIMEA, and Asia Pacific segments produce and supply industrial adhesives products for applications in various industries such as packaging, consumer goods, furniture, and textile. H.B. Fuller completed acquisition of the US-based Royal Adhesives & Sealants in October 2017. This allowed the company to expand its product offering in engineering, durable assembly, and construction adhesives. Royal Adhesives provides spray adhesives under the brand name, Silaprene.
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