Gemini
Adhesives Ltd., AFT Aerosols, Phillips Manufacturing, 3M, Henkel AG & Co.
KGaA, H.B.Fuller, AVERY DENNISON CORPORATION, BASF SE, Bostik S.A, ND
Industries, Inc., UniSeal, Inc., Ashland, Inc., Beardow Adams, Sika AG, Eastman
Chemical Company among others are some of the prominent players at the
forefront of competition in the Global Spray Adhesive Market and are profiled
in MRFR Analysis.
Spray
Adhesive Market – Overview
Spray
Adhesive belongs to a class of adhesive that bond with a variety of substrates
of lightweight materials. These are predominantly utilized in numerous
applications such as automotive, leather & footwear, building &
construction, paper & packaging, woodworking, and others. Spray Adhesive market is estimated to witness robust
growth on account of rising demand from building & construction sector and
continuous growth of paper & packaging industry across the globe.
Moreover,
polyurethane and epoxy together accounted for the largest chemistry segment
owing to growing demand from various end use industries owing to their adhesion
property over wide range of substrate, with this above mentioned reason the
market is estimated to register strong growth in the upcoming future.
Furthermore increasing per capita disposable along with improved living
standards has resulted in increased demand for fuel efficient vehicles which in
turn has increased the automotive production and sales in emerging economies. This
aforementioned factor is likely to propel the growth of the market.
Geographically,
Asia Pacific emerged as the largest market for spray Adhesive in 2016 and is
estimated to retain its dominance over the assessment years on account of
rising demand from building & construction, automotive, and paper &
packaging sector. Moreover, the demand for spray adhesive is estimated to surge
in numerous countries of Asia Pacific such as China, India, Japan, Vietnam,
Malaysia, Thailand, Taiwan, and South Korea due to increasing construction
activities as well as high adoption rate from building and construction
industry. Furthermore, economic growth in this region along with rapid
urbanization has resulted in the raised production and sales of light weight passenger
cars and vehicles, which is further likely to raise the demand for spray
adhesive over the estimated years.
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Moreover,
huge investment by big market players in their R&D activities and shifting
of spray adhesive manufacturing facilities as well as significantly rising base
of numerous end use industries in this region is estimated to drive the spray
adhesive regional market growth. North American market is predicted to witness
steady growth on account of increasing demand paper & packaging sector.
North American market is further bifurcated into U.S. and Canada which are
among the major contributor in the regional market growth owing to strong
growth of woodworking and paper & packaging sector.
European
market is estimated to witness moderate growth due to increasing awareness
regarding the benefits associated with the product as well as growing
consumption in automotive industry. Furthermore, emerging countries of the
Middle East & Africa and Latin America such as Turkey, Oman, Saudi Arabia,
the United Arab Emirates, Brazil, Guatemala, and Mexico are predicted to
witness significant growth owing to rising per capita disposable income along
with strong consumer base for building & construction industry.
Industry/
Innovation/ Related News:
April 2017-
3M Company announced, they have reported their low VOC spray adhesives are
below the current VOC demand and currently available to the market. Company’s
GREENGUARD certified and CARB compliant of spray adhesives comprises of 3M
Super 77 CA, 3M Hi strength 90 CA, and 3M foam fast 74 CA. Company’s new
product line will be able to provide users the convenience, ease of use and
portability of spray adhesives to reduce the environment impact. With this
strategic move the company strengthen its position among the low VOC enable
spray adhesive suppliers.
April 2015-
Dayton Superior Corporation announced to launch its GluDown spray adhesive
system. In this product development, Dayton Superior has collaborated with
Adhesives Plus Inc. to enhance their product portfolio.
Competitive
Landscape
The Spray
Adhesive report has analysed the level of competition among the key operating
players as well as sector growth and market scenario. The global Spray Adhesive
market comprises of various manufacturers operating in the market which
comprised of large scale and medium size manufacturers. Some of the prominent
market players operating in the global spray adhesive industry has shifted
their fcus towards growth association specifically by Asia Pacific as moderate
level and small scale manufacturers are from this region specifically from
China, Singapore, South Korea, India, Indonesia, Thailand, Taiwan, Malaysia,
Australia, and Japan. Apart from this, the major operating players are focusing
on improving their product portfolio by strategic acquisition and mergers,
joint ventures, product launches, and exclusive agreements. Many key players
are escalating their manufacturing capacity of spray adhesive to meet the
growing demand for spray adhesive. Moreover, some of the manufacturers has
launched a series of product to solidify their position in the market.
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