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The Asia Pacific region is anticipated to hold a significant share in the overall growth of the market over the forecast period. This can be attributed to the strong market penetration of major vehicle manufacturing companies in countries like Japan, South Korea, and China. Spray adhesives are widely used in the automobile and construction sectors to glue certain parts in the interior of the vehicle such as belts and carpet floors to add to the aesthetics of the vehicle. The market growth can also be associated with the rising living standards of the people as a result of inflating disposable incomes which is invigorating the demand for high-tech personal vehicles. Apart from this, the active use of spray adhesives in the construction sector for pipe insulation, roofing membranes, and to glue fiberglass, drywalls, and plasters are stimulating the growth of the market. The flourishing construction industry in the region is stimulating the growth of the market.
Bostik S.A., a leading market player in the spray adhesives industry, recently launched two new adhesive products with 50% and 75% renewable content in October 2021. Nuplaviva, with 50% and 75% bio-sourced content respectively, are compatible with subject to substrate usages. The bio-sourced content in the adhesives is aimed at reducing the negative impact of adhesives on the environment and boosting the quality of the products. Such products by leading market players are stimulating the growth of the market. In addition to this, the expansion strategies employed by market player like BASF SE (ETR: BAS) are also positively influencing the market growth.
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The major players in the global spray adhesives market include The 3M Company, H.B. Fuller Company, Henkel AG, BASF SE, and Bostik S.A., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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