Increasing demand for spray adhesives form the automotive, furniture, and packaging products manufacturing industries is major factor expected to drive growth of the global spray adhesives market over the forecast period.
The global spray adhesives market report has been segmented on the basis of technology, application, and region.
On the basis of technology, the global spray adhesives market has been segmented into water-based, solvent-based, and hot melts. The water-based segment is estimated to account for significant share in terms of revenue in the global spray adhesives market. Water-based products are formulated with the water as a key diluent. Water-based products do not contain volatile organic compound (VOC) releasing solvents, owing to which these can be used as low VOC adhesives for multiple industrial applications. Polyvinyl acetate (PVAC), styrene-butadiene, vinyl acetate-ethylene (VAE), and acrylics are some of synthetic polymers utilized for manufacturing water-based adhesives. The water-based segment revenue is also projected to register highest CAGR over the forecast.
On the basis of application, the global spray adhesives market has been segmented into construction, furniture, packaging, automotive & transportation, and textile & leather. The construction segment is estimated to account for major share in the global spray adhesives market in terms of revenue. Spray adhesives are used for wide range of building material substrates such as fiberglass, drywalls, and plasters. In addition, insulation of pipes, roofing membrane systems, EPS foams, and installation of carpet tiles are some of the additional end-use application in the construction sector.
On the basis of region, the global spray adhesives market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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Asia Pacific market is expected to dominate with major revenue share in the global spray adhesives market in 2017. Asia Pacific market is projected to register highest CAGR in terms of revenue in next ten years, owing to increasing demand from automobile, construction, and packaging industries in countries in this region.
Key players operating in the global market include H.B. Fuller, Henkel AG, The 3M Company, Avery Dennison Corporation, ND Industries Inc., BASF SE, Bostik S.A., Uniseal, Inc., Ashland Global Holdings Inc., and Beardow and Adams Adhesives Ltd.