The overall spray Adhesives Market
is expected to grow from USD 2.61 billion in 2016 to USD 3.41 billion by 2022,
at a CAGR of 4.6% from 2017 to 2022. Spray adhesives, also known as sprayable
adhesives, are adherents provided in the aerosol form.
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The spray adhesives market comprises
a network of players involved in the research and product development; raw
material supply; component manufacturing; distribution and sale. Key players
considered in the analysis of the spray adhesives market are Bostik SA (US),
H.B. Fuller (US), Henkel (Germany), Kissel+Wolf GmbH (Germany), Quin Global
(US), SIKA AG (Switzerland), and 3M (US).
On the basis of type, the spray
adhesives market has been segmented into the solvent-based, water-based, and
hot melt. The hot melt spray adhesives segment is estimated to be the
fastest-growing type of the spray adhesives market during the forecast period.
This high growth is attributed to the tightening environmental norms regarding
VOC content of spray adhesives. Hot melt spray adhesives do not use water or
solvent as a carrier and, hence, their VOC content is very less, making them
more eco-friendly.
In terms of volume, the styrenic
block copolymers (SBC) type segment led the thermoplastic elastomers market in
2016. The styrenic block copolymers (SBC) are also called third-generation
synthetic rubbers. They are mostly used in the form of a mixture with other
polymers, oils, and fillers. They can be processed repeatedly and molded
easily. Styrenic block copolymers (SBC) are the most inexpensive type of
thermoplastic elastomers available in the market.
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The rising demand for spray adhesives
from transportation, construction, furniture, and packaging industries is
driving the spray adhesives market, globally. Asia-Pacific is projected to be
the fastest-growing market for spray adhesives during the forecast period,
followed by the Middle East & Africa and North America. The markets in
developing economies such as China and India are experiencing high growth due
to increasing purchasing power of the middle class and growing urbanization.
The spray adhesives market in India is projected to witness the highest CAGR
during the forecast period.
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