January 09, 2020
As per the recent study titled ‘Spray Adhesives Market Size By Technology (Solvent Based, Water Based, Hot Melt), By Resin (Epoxy, Polyurethane, Synthetic Rubber), By End-user (Building & Construction, Packaging, Footwear, Transportation, Hygiene), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, Russia, Turkey, China, India, Japan, Australia, Thailand, South Korea, Indonesia, Malaysia, Brazil, Mexico, South Africa, Saudi Arabia, UAE, Kuwait), Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019-2025’ available with Market Study Report LLC, the global spray adhesives market is projected to accumulate US $9 billion by the year 2025.
The growth of packaging industry, in tandem with rising consumption of packaged food products like cereals, dairy, bakery, and soft drinks will propel the growth of spray adhesives market. The product is used for trays, sealing bags, and wraps. The ability to offer reliable & permanent bond is promoting its application in bonding of folding boxes, film laminating, cut out windows laminating, and others, which in turn is augmenting the market outlook.
However, fluctuating prices of raw material is major parameter restricting the growth of spray adhesives market. The product resins including synthetic rubber, epoxy, and polyurethane are produced from petrochemicals, hence their prices depend on the price trends of crude oil, thereby impeding market expansion.
Based on the resin type, epoxy segment held 40% share of spray adhesives market in 2018, owing to its utilization in bonding substrates like wood, ceramic, metal, and plastics. The product is known to possess various benefits like strong fatigue limit, high mechanical strength, low shrinkage, and excellent moisture and chemical resistance.
Speaking of the technology terrain, solvent based adhesives segment presently holds around 7% market share. However, the popularity of solvent based adhesives is declining owing to high VOC (volatile organic compounds) emission. These products are being replaced by water based and hot melt adhesives as they have less VOC emission and are cost effective.
In terms of the application spectrum, spray adhesives market from hygiene industry segment will register significant growth in the upcoming years. These adhesives are used in baby care and feminine hygiene products owing to their ability to offer strong cohesive and adhesive strength to the backing materials in disposable non-woven products.
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Considering the regional outlook, Asia Pacific spray adhesives market is anticipated to gain substantial traction during 2019-2025, pertaining to expansion of various end-use industries across the region. Numerous initiatives taken by government towards infrastructure development and construction activities will further stimulate the regional market growth.
The prominent companies operating in spray adhesives market are Spray-Lock, Inc., Philips Manufacturing Co., Chemique Adhesives & Sealants Ltd., Casa Adhesives, Inc., Eastman Chemical Company, BASF SE, Beardow Adams Ltd., Mapei SpA, DowDuPont, Inc., Sika AG, Henkel AG & Co. KGaA, The 3M Company, Arkema Group, H.B. Fuller, and Avery Dennison Corporation.
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