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The cyanoacrylate adhesives market is influenced by different factors that combine to shape its dynamics and growth. One of the key stimulations of the market is the extensive use of cyanoacrylate adhesives in several industries. The Cyanoacrylate Adhesives Market Size was valued at USD 1.9 Billion in 2022. The industry for Cyanoacrylate Adhesives market is estimated to reach USD 3.26 billion by 2032, increasing from USD 2.01 billion in 2023, with a CAGR of 6.20% during the forecast period (2023 - 2032). Changing manufacturing traits and product designs are significant in forming this market due to its reliance on adhesive bonding solutions. There is a need for strong and instant adhesives as industries evolve towards lightweight and compact product demand. Advancements made in adhesive formulations play an important role in changing market trends. Technological advancements in adhesive formulations contribute significantly to market dynamics. Research and development activities often result in breakthroughs regarding specific industry needs as far as cyanoacrylate adhesive formulas are concerned.
Market factors also include an increasing demand for cyanoacrylate adhesives among medical practitioners within healthcare departments. Cyanoacrylates have been used for medical device assembly and wound closure, among other surgical procedures. Economic conditions coupled with industrial activities influence the Cyanoacrylate Adhesives Market. Consequently, demand for these materials depends on a number of factors, including the health of manufacturing sectors, construction activities, and consumer spending. Consequently, the competitive landscape influences how markets perform. Cyanoacrylate adhesive manufacturers join hands with end users, research institutions, and other stakeholders. In support of this move, Cyanoacrylate adhesive producers enter into partnerships with some end-users, research organizations, or other similar stakeholders. Basically, such a move may involve creating new applications for the product, boosting its value through enhanced formulations, or improving its presence within the market space.
Consumer tastes and preferences in relation to more convenient and efficient bonding solutions determine how markets behave. Consumer preferences for user-friendly and "get-the-job-done" adhesives have become a major driver of market change with time. As consumers continue to engage in do-it-yourself (DIY) projects and home repairs, they will necessitate these practical glues. Cyanoacrylate adhesives are known for being simple as well as fast in bonding. These products offer reliability to people who need them during various processes. Global trends like sustainability and environmentalism influence the growth of the cyanoacrylate adhesives market. Industrial segments have been increasingly adopting eco-friendly adhesives as a result of a growing emphasis on sustainable practices with minimal adverse effects on the environment. The drive to reduce VOCs in formulations and develop environmentally friendly qualities has also been playing a role in shaping this sector.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Market Size Value In 2022 | USD 1.9 Billion |
| Market Size Value In 2023 | USD 2.01 Billion |
| Growth Rate | 6.20% (2023-2032) |
Cyanoacrylate Adhesives Market Highlights:
Global Cyanoacrylate Adhesives Market Overview
Cyanoacrylate Adhesives Market Size was valued at USD 2.01 Billion in 2023. The Cyanoacrylate Adhesives industry is projected to grow from USD 2.13 Billion in 2024 to USD 3.26 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.44% during the forecast period (2024 - 2032). Increased use of cyanoacrylate in various applications such as assembling electronics and in the medical device sector are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Cyanoacrylate Adhesives Market Trends
- Growing demand in medical and healthcare is driving the market growth
Market CAGR for cyanoacrylate adhesives is driven by the rising demand in medical and healthcare. The need for efficient bonding solutions has grown significantly with the rapid advancement in technology and the rising adoption of electronic devices. Cyanoacrylate adhesives provide excellent adhesion to various substrates used in electronics, such as metals, plastics, and ceramics. They offer high thermal resistance, electrical insulation properties, and fast curing, making them ideal for electronic component assembly. The miniaturization trend in the electronics industry further amplifies the demand for cyanoacrylate adhesives, as they enable precise and reliable bonding in small-scale applications.
The cyanoacrylate adhesives market is witnessing a strong emphasis on product development and innovation. Key market players are involved in research and development activities to introduce new formulations and enhance the performance of cyanoacrylate adhesives. One area of focus is developing low-odor and low-blooming formulations to address the concerns associated with the strong smell and white residue left by traditional cyanoacrylate adhesives. Manufacturers are also working on developing adhesives with improved flexibility, impact resistance, and resistance to harsh environmental conditions. These advancements aim to expand the application scope of cyanoacrylate adhesives in the automotive, aerospace, and construction industries.
Another noteworthy trend in the cyanoacrylate adhesives market is the growing application in the medical and healthcare sector. Cyanoacrylate adhesives are increasingly used as medical or tissue adhesives due to their biocompatible nature and ability to form strong bonds with biological tissues. These adhesives find extensive applications in wound closure, surgical incisions, dental procedures, and drug delivery systems. They offer advantages such as minimal scarring, reduced healing time, and improved patient comfort compared to traditional sutures or staples. The choice of minimally invasive surgeries and the demand for advanced wound care products propel the adoption of cyanoacrylate adhesives in the medical field.
The increasing demand from the electronics and electrical industry, driven by technological advancements and miniaturization, is a major factor influencing market growth. Additionally, the growing application of cyanoacrylate adhesives in the medical and healthcare sector, owing to their biocompatibility and wound healing benefits, is expanding the market opportunities. Moreover, the focus on product development and innovation drives the introduction of advanced formulations that offer improved performance and address specific industry needs, driving the Cyanoacrylate Adhesives market revenue.
Cyanoacrylate Adhesives Market Segment Insights
Cyanoacrylate Adhesives Type Insights
The Cyanoacrylate Adhesives market segmentation, based on type, includes methyl, ethyl, and alkoxy. The methyl segment dominated the market. It offers adhesion to various substrates, including metals, plastics, rubber, and ceramics. Methyl cyanoacrylate adhesives are known for their quick curing time and high strength. They find various applications in electronics, automotive, and medical devices.
Cyanoacrylate Adhesives End-Use Industry Insights
The Cyanoacrylate Adhesives market segmentation, based on the end-use industry, includes automotive, healthcare, consumer goods, and electronics. The automotive category generated the most income. The cyanoacrylate adhesives are utilized for bonding various components, including plastics, rubber, and metals. These adhesives provide structural integrity, vibration resistance, and high-temperature resistance, making them ideal for automotive assembly and repair applications.
Figure 1: Cyanoacrylate Adhesives Market by End-Use Industry, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Cyanoacrylate Adhesives Regional Insights
By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American Cyanoacrylate Adhesives market area will dominate this market due to the well-established industrial infrastructure and is home to several major end-use industries, including automotive, aerospace, and electronics. In addition, the region has a strong focus on research and development activities, leading to continuous advancements in adhesive technologies. The presence of key market players and favorable government regulations further contribute to the growth of the market in North America.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: CYANOACRYLATE ADHESIVES MARKET SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Europe's Cyanoacrylate Adhesives market accounts for the second-largest market share due to the robust automotive and aerospace industry, which drives the demand for these adhesives. The region is witnessing increasing investments in research and development to develop eco-friendly and high-performance adhesives. Further, the German Cyanoacrylate Adhesives market held the largest market share, and the UK Cyanoacrylate Adhesives market was the rapid-growing market in the European region.
The Asia-Pacific Cyanoacrylate Adhesives Market is expected to grow fastest from 2023 to 2032. It is due to rapid industrialization and urbanization, leading to increased construction activities and infrastructure development. Additionally, the availability of declining cost labor and raw materials in the region attracts major market players to establish their manufacturing facilities, further propelling the market growth. Moreover, China’s Cyanoacrylate Adhesives market held the largest market share, and the Indian Cyanoacrylate Adhesives market was the rapid-growing market in the Asia-Pacific region.
Cyanoacrylate Adhesives Key Market Players & Competitive Insights
Leading market players are investing heavily in research and development to expand their product lines, which will help the Cyanoacrylate Adhesives market grow even more. Market participants are also undertaking various strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. The Cyanoacrylate Adhesives industry must offer cost-effective items to expand and survive in a more competitive and rising market climate.
Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the Cyanoacrylate Adhesives industry to benefit clients and increase the market sector. In recent years, the Cyanoacrylate Adhesives industry has offered some of the most significant medical advantages. Major players in the Cyanoacrylate Adhesives market, including 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., and others are attempting to raise market demand by investing in research and development operations.
H.B. Fuller Company, founded in 1887, located in Vadnais Heights, Minnesota, United States, is an American adhesives manufacturing company that supplies industrial adhesives worldwide. It is the largest manufacturer and supplier of adhesives globally. The company has long received praise in ethical investment circles for carefully handling toxic waste and the nature reserve built around its headquarters. Initially incorporated as the Fuller Manufacturing Company, in 1915, the company was reincorporated as the H.B. Fuller Company. H.B. Fuller became a public company in 1968. In February 2022, H.B. Fuller announced the acquisition of Fourny NV to strengthen its Construction Adhesives business in Europe.
Mitsubishi Chemical Corporation, also known as MCC, was founded in 2005 in Tokyo, Japan. It is a Japanese company that is the largest chemical corporation in Japan. It operates in various divisions, which include natural gas-related chemicals, aromatic-related chemicals, functional chemicals, and real estate businesses. February 2020: Mitsubishi Chemical plans to set up an MMA plant on the U.S. Gulf Coast by 2024. The plant would have about 250,000 to 350,000 tons per year. It will be based on Alpha Technology, which derives methyl methacrylate from methanol, carbon monoxide, and ethylene.
Key Companies in the Cyanoacrylate Adhesives market include
- 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.
Cyanoacrylate Adhesives Industry Developments
January 2022: H.B. Fuller announced the acquisition of UK-based Apollo Chemicals to expand its foothold in the European market.
May 2022: ITW Performance Polymers announced a distribution partnership with PREMA SA in Poland for its Devcon brand.
Cyanoacrylate Adhesives Market is Gaining Momentum by Leading Companies like M Corporation, Henkel AG and Company, ITW Devcon, Master Bond, Super Glue Corporation., Bostik S.A.S.A.
Cyanoacrylate Adhesives Market Segmentation
Cyanoacrylate Adhesives Type Outlook
- Methyl
- Ethyl
- Alkoxy
Cyanoacrylate Adhesives Application Outlook
- Automotive
- Healthcare
- Consumer Goods
- Electronics
Cyanoacrylate Adhesives Regional Outlook
- North America
- US
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
- Rest of the World
- Middle East
- Africa
- Latin America
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