Pune, India -- (SBWIRE) -- 09/06/2018 -- Spray Adhesives find application in a wide range of end-use industries. They are primarily used for bonding lightweight materials that form as a component of a finished product such as furniture, automotive, white goods etc. In addition, most spray adhesives have heat and moisture resistance, which makes them suitable for various high performance application requirements. However, high cost and a low adoption rate continues to undermine the potentials of the Global Spray Adhesive Market. Market Research Future (MRFR) in its latest report projects that the market will witness a moderate growth during the projection period (2017-2023).

Demand for spay adhesive is primarily driven by its increasing use in the building and construction sector. The building and construction sector has continued to expand at a healthy pace in recent years on account of the infrastructure development efforts that are being taken by governments in fast developing countries such as China, India and Brazil. Moreover, manufacturers are coming up with eco-friendly spay adhesive that are quickly replacing the VOC based adhesives. Water-solvent based spray adhesive are being increasingly used in automotive interior installation. The woodworking industry is another major area of application- increased sales or plyboard based furniture is partly influencing the global demand for spray adhesives. Factors as such are expected to support the growth of the global market for spray adhesive market over the next couple of years.

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Industry Trends and News

3M, a leading American multinational conglomerate corporation has recently introduced Hi Tack Composite Spray Adhesive 71 primarily for industrial applications that require infusion composite fabrication. The high-performance spray adhesive product comes with features such as minimal intrusion during the resin infusion process and quick dry capability. Also, it is comprised of high adhesive solids that allows it last longer.

Sika Roofing has recently unveiled a new spray-applied insulation adhesive. Reportedly, this new adhesive formula is set to reduce the total installation time by nearly 20%. The product is aligned with the company's efforts to make installation less time consuming and easier for contractors.

Spray Adhesive Market: Competitive Dashboard

Eastman Chemical Company(U.S.), AFT Aerosols (U.K.), Gemini Adhesives Ltd. (U.K), 3M (U.S.), Phillips Manufacturing (U.S.), H.B.Fuller (U.S.), Henkel AG & Co. KGaA (Germany), BASF SE (Germany), AVERY DENNISON CORPORATION. (U.S.), ND Industries, Inc. (U.S.), Bostik S.A. (France), Ashland, Inc. (U.S.), UniSeal, Inc. (U.S.), Sika AG (Switzerland) and Beardow Adams (U.K). are among the leading players operating in the global market for Spray Adhesive.

Spray Adhesive Market: Segmental Analysis

Based on Technology, the market has been segmented into hot- melt, solvent, water, and others. By chemistry, the market has been segmented into polyurethane, epoxy, vinyl acetate ethylene, synthetic rubber, and others. By Application, the market has been segmented into wood working, building & construction, leather & footwear, paper & packaging, automotive and others.

Regional Outlook

Based on Region, the market has been segmented into Europe, North America, Asia Pacific, Latin America and the Middle East & Africa (MEA). During the forecast period, the market in Asia Pacific is projected to exhibit a relatively higher CAGR as compared to other regions. The impressive growth of the construction sector in the region has boosted the demand for various types of adhesives including Spray Adhesives. Moreover, the countries such as China and India have become global manufacturing hubs, which is auguring well for market players operating in the region. Apart from Asia Pacific, North America and Europe are also expected to present growth opportunities for market players in the forthcoming year. Spray adhesives are witnessing a fast adoption in countries such the US, Canada, Germany, The UK, and France among others. South America and the MEA are also likely to record a healthy of the Spray Adhesive Market but from a smaller base.

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