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.
Solvent-based segment is projected to be the largest type of spray adhesives from 2017 to 2022.
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.
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Furniture industry is projected to be the fastest-growing consumer of spray adhesives during the forecast period.
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.
Among the various end-use industries of spray adhesives, the transportation segment is estimated to remain the largest consumer during the forecast period. Spray adhesives are used to bond leather, foam, fabric, fiberglass, and other materials such as plastic and rubber to the metal body of vehicle, aircraft, or ship. These adhesives are used in the interior trim application of vehicles and aircraft.
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.
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.
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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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The major growth opportunities in the automotive adhesives market are in India, China, Brazil, Mexico, and other emerging economies.
adhesives improve the aesthetic appeal of end products as bolts, rivets, and welds are not required to be used, and thus making these viable for numerous applications involving assembly line, body in white and others.Browse 262 market data Tables and 57 Figures spread through 291 Pages and in-depth TOC on "Automotive Adhesives Market by Resin Type(PU, Epoxy, Acrylic, Silicone, SMP, MMA), Application (Body In White, Paint Shop, Assembly, Powertrain), Vehicle Type (Passenger Cars, LCVS, Trucks, Buses, Aftermarkets), & Region - Global Forecast to 2026"The key market players are Henkel (Germany), Arkema (Bostik) (France), 3M (US), Dupont (US), H.B.
These players have adopted various strategies, such as new product launches and mergers & acquisitions between 2016 and 2020, to enhance their market shares and expand their global presence.Request Report Sample @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=36961165Henkel is one of the leading solution providers for adhesives, sealants, and functional coatings.
The company has three business segments, namely, adhesive technologies, laundry & home care, and beauty care.
The lab expands Henkel’s capabilities to deliver innovative solutions and design customized applications, technologies, and production processes to serve customer needs better.In May 2017, the company launched four new adhesives (LOCTITE HY 4090, LOCTITE HY 4080, LOCTITE HY 4070 and LOCTITE HY 4060 GY) in its LOCTITE’s automotive bonding range using the patented hybrid technologies.
These adhesives are expected to meet the rising demands in assembly design and maintenance repair applications.Speak to our Analyst @ https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=36961165Sika is a specialty chemical company with a leading position in the development and production of systems and products for bonding, sealing, damping, reinforcing and protecting in the building sector and the motor vehicle industry.
The global electrical & electronics adhesives market size is expected to reach USD 6.7 billion by 2025, exhibiting a CAGR of 6.7% over the forecast period, according to a new report by Grand View Research, Inc.
Rising demand for electronic devices and appliances supported by increasing middle-class income levels is driving the demand for the adhesives.The demand for devices and equipment with high reliability and functionality is increasing owing to the advancement in IoT and the growth of smartphone and automotive sectors.
However, this hampers productivity due to higher cost and time required to be invested in manufacturing process.Stringent regulations on volatile organic compounds (VOCs) are expected to hamper the market growth over the coming years.
Key market players are investing heavily in manufacturing products that use bio-based feedstock.
This is anticipated to drive the demand for new materials and resins used in manufacturing the adhesives.Asia Pacific is a leading producer and consumer of adhesive products, with China being the key country driving the market growth.
The Government of India has issued a National Policy of Electronics to boost the growth of electrical & electronics sector.
