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Solvent-based segment is projected to be the largest type of spray adhesives from 2017 to 2022

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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