ID: MRFR/CnM/5877-HCR | February 2021 | Region: Global | 140 pages
The cyanoacrylate adhesive market size has been estimated to grow from USD 1.6 billion in 2018 to USD 7,244 billion by 2028, at a CAGR of 6.2% during the estimated period.
Cyanoacrylate glue is otherwise known as crazy glue. The term cyanoacrylate glue generally describes the quick-bonding of the super glues. They are used to combine anything from metal to plastic and human skin. Whereas traditional adhesives are water-based, cyanoacrylate glue is made of acrylic resin. The main substance in cyanoacrylate glue is cyanoacrylate; it is an acrylic monomer that transforms into a plastic state after curing. Cyanoacrylate glue is not similar to traditional glue as it has special bonding conditions. This is possible only because cyanoacrylate glue bonds with a surface when there is moisture present, which means if the cyanoacrylate glue is placed on a perfectly dry surface, it will not stick to the surface or form any kind of bond as there is no moisture present in the dry state.
Similarly, if any moisture is present, the cyanoacrylate glue molecules will react to the moisture to form tight chains between the two surfaces in contact. This reaction gives rise to heat and occurs instantly, which differs from traditional glue bonding by evaporation of the base fluid. Cyanoacrylate adhesives are used for diverse applications such as in flying model aircraft, assembling prototype electronics, and retention dressing for nuts and bolts. These adhesives are used as finishes in woodturners besides in automotive assemblies. Application of cyanoacrylate is also used in the medical device sector, where it is used for bonding needles and syringes.
The sudden covid-19 outbreak has caused a great loss for almost every market globally. Similarly, it impacted the Cyanoacrylate Adhesives Marketnegatively. Due to the strict regulations of the government to stop the virus from spreading across the world. The supply chain was affected, which impacted a heavy loss in the Cyanoacrylate Adhesives Market growth.The raw materials are very important for production, and disruption in that can really affect the market. The cost of delivery is increased as it takes a lot of risks to deliver the materials on time due to lockdowns and shutdowns in different regions.
Chief Factors Existing In The Market
Cumulative Evaluation Of The Market
The cyanoacrylate adhesive market size has been estimated to grow from USD 1.6 billion in 2018 to USD 7,244 billion by 2028, at a CAGR of 6.2% during the estimated period globally, according to Cyanoacrylate Adhesives Market Analysis. The growth of the global cyanoacrylate adhesive market is mainly operated by increasing demand for adhesive products in automotive and furniture industries with growing construction industry across different regions globally, which in turn drives up the demand for this product heavily in these two applications segments.
The global cyanoacrylate adhesives market has been divided on the basis of type, end-use industries, and region.
Global Cyanoacrylate Adhesives Market Share, by End-Use Industries, 2017 (%)
Source: MRFR analysis
In 2017, Asia-Pacific was considered the largest share of this market due to the rapid expansion of the plastic and automotive industry in the region. The technological advancements and economic development in China and India are boosting the growth expectation for the global cyanoacrylate adhesive market. The increasing population in the region has demanded government authorities improve healthcare facilities, boosting the demand for global cyanoacrylate adhesives healthcare applications.
North America and Europe will have important growth in terms of CAGR during the time period. The rushing cyanoacrylate adhesives demand in the automotive and consumer good applications will strengthen the market growth. Cyanoacrylate adhesives help to design and produce consumer goods and electronics products faster & cost-effectively encourage market growth in these regions. The rise in the aging population will increase the demand for cyanoacrylate adhesive in the healthcare industry.
The markets in the Middle East & Africa, and Latin America are estimated to have moderate growth during the predicted period. Countries such as UAE and Saudi Arabia are investing in automotive, consumer goods, and electronic industries to redirect from the oil business, which is growing the cyanoacrylate adhesive demand in the region.
Competitive Intensity Within The Industry
Various companies focus on organic growth strategies such as product launches, product approvals, patents and events. Inorganic growth strategies activities noticed in the market were acquisitions and partnership & collaborations. These activities have covered the way for the expansion of business and the customer base of market players. The market payers from the cyanoacrylate adhesive market are expected to have profitable growth opportunities in the future with the rising demand for cyanoacrylate adhesive market trendsin the global market. Some of the major key players of the markets are 3m, Arkema Group, Chemence, Dupont De Nemours Inc., H.B. Fuller Company, Henkel Ag & Co. Kgaa. JowatSe. Master Bond Inc., Permabond Llc. , Pidilite Industries Ltd.
Recent Market Developments
This report includes all the data of the market such as market overview, covid-19 analysis and how it affects the market, the key drivers, the market opportunities, the key drivers, the challenges that the market face, the market restraints, the market segmentation, the regional analysis, cyanoacrylate adhesive market outlook, market trends, the competitive landscape, report overview and recent development of the market.
By Product Type
By End-user Industry
As per Geography
|Market Size||2030: Significant Value|
|CAGR||Substantial CAGR (2022-2030)|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||type, end-use industries, and region|
|Geographies Covered||Asia-Pacific, Europe, Latin America, North America, and the Middle East & Africa|
|Key Vendors||3M (US), Henkel AG & Co. KGaA (Germany), Master Bond (US), Permabond LLC. (UK), Adhesive Systems, Inc. (US), Tong Shen Enterprise Co., Ltd (China), Royal Adhesives & Sealants, LLC (US), Premium Metals & Components Pvt. Ltd. (US), Cyberbond L.L.C. (US) and Benson Polymers Limited (India).|
|Key Market Opportunities||Cyanoacrylate adhesives application in healthcare industry is propelling owing to its usage in bandage and disposable medical products|
|Key Market Drivers||Increasing demand for cyanoacrylate adhesives in automotive industry to bond engine hose protectors, roofs pads, and weather strips|
Frequently Asked Questions (FAQ) :
The outlook of the global cyanoacrylate adhesives market looks very promising.
Cyanoacrylate adhesives are basically a type of fast drying adhesive, which is used in various end-use industries including automotive, consumer goods, healthcare, and electronics.
Based on type, the methyl segment and based on end-use industries, the automotive segment holds the leading share in the global cyanoacrylate adhesives market.
Asia Pacific holds the largest share in the global cyanoacrylate adhesives market, followed by North America and Europe, respectively.
Benson Polymers Limited (India), Henkel AG & Co. KGaA (Germany), 3M (US), Adhesive Systems, Inc. (US), Master Bond (US), Permabond LLC. (UK), Premium Metals & Components Pvt. Ltd. (US), Tong Shen Enterprise Co., Ltd (China), Cyberbond L.L.C. (US), and Royal Adhesives & Sealants, LLC (US), are some of the major players operating in the cyanoacrylate adhesives market.