Bostik SA (US) and H.B. Fuller (US) are the leading players operating in the Spray Adhesives Market
The spray adhesives market size is projected to reach USD 3.41 Billion by 2022, at a projected CAGR of 4.6% between 2017 and 2022. Spray adhesives are known for their characteristics such as easy handling, low wastage, and faster application. They are used to bond a variety of substrates, including foam, fabric, metal, wood, and plastics.
New product launches and expansions and acquisitions were the key strategies adopted by the leading players to strengthen their positions in the spray adhesives market between 2014 and 2017. Some of the leading players operating in the spray adhesives market are Bostik SA (US), H.B. Fuller (US), Henkel (Germany), Quin Global (US), Sika AG (Switzerland), and 3M (US). These companies adopted strategies such as new product development, expansion, and acquisition to expand their product portfolios and extend their reach to new customers.
Bostik SA has a high brand value in the spray adhesives market. The spray adhesives provided by Bostik are used in transportation, construction, and furniture industries. In 2017, the company opened a new production facility in India to meet the growing demand for hot melt pressure-sensitive adhesives (HMPSA) in the country. In the same year, Bostik acquired a US-based company XL Brands, which manufactures adhesives for resilient and soft flooring. This acquisition will help Bostik to become one of the leaders in floor covering adhesives in the US. These developments have benefited Bostik in terms of increased distribution network and production capacity in developing markets.
H.B. Fuller has five operating segments: Americas Adhesives, EIMEA (Europe, India, Middle East and Africa), Asia Pacific, Construction Products, and Engineering Adhesives. The Americas Adhesives, EIMEA, and Asia Pacific segments produce and supply industrial adhesives products for applications in various industries such as packaging, consumer goods, furniture, and textile. H.B. Fuller completed acquisition of the US-based Royal Adhesives & Sealants in October 2017. This allowed the company to expand its product offering in engineering, durable assembly, and construction adhesives. Royal Adhesives provides spray adhesives under the brand name, Silaprene.
The strategy of acquisition enables industry players to utilize their existing capacity and distribution network, while expansions help in increasing market reach and meet the rising demand from the global market. The Asia-Pacific market is experiencing high growth due to rising demand in emerging economies such as China and India. Many international and domestic industry players are investing in the region, making it the fastest-growing market for spray adhesives.
Related Reports:
Spray Adhesives Market by Chemistry (Epoxy, Polyurethane, Synthetic Rubber, Vinyl Acetate Ethylene), Type (Solvent-Based, Water-Based, Hot Melt), End-Use Industry (Transportation, Construction, Furniture), and Region - Global Forecast to 2022
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