Cyanoacrylate Adhesives Market

The global cyanoacrylate adhesives market size is expected to expand at a CAGR of more than 7% during the forecast period, 2021–2028. Growth of the market is attributed to rising demand from end-user industries such as transportation, healthcare, and electronics all over the world.

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Cyanoacrylate adhesives are solvent-free acrylate adhesives and one-component super adhesives that cure immediately after contact with the mated surface in the presence of surface moisture. These adhesives are mainly used in industry because of their strength and durability. Cyanoacrylate adhesives can be easily bonded to various materials, such as plastics, metals, and elastomers. These materials are considered suitable for automotive, aerospace and defense, furniture, engineering, consumer products, and many other industries.

Market Trends, Drivers, Restraints, and Opportunities

• Growing consumption of plastics in automotive and consumer goods is anticipated to boost the market during the forecast period.
• High price and short shelf life of the adhesives is projected to restrict the market growth.
• Strict environmental laws against the use of plastics act as major challenges that can hamper the adhesives market during the forecast period.
• R&D investment and development of adhesives that have non-toxic properties is projected to offer lucrative opportunities for the market players.

Scope of the Report

The report on the global cyanoacrylate adhesives market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Market Segment Insights

Ethyl Ester-based segment is projected to represent a major market share

Based on products, the cyanoacrylate adhesives market is segregated into alkoxy ethyl-based, ethyl ester-based, methyl ester-based, and other products. The ethyl ester-based segment is expected to hold a key share of the market during the forecast period owing to rising usage in bond materials. It is also used in medicine, liquid dressings, and open surgeries. Forensic medicine also found that cyanoacrylates have excellent non-destructive printing capability, which is especially important when fingerprints cannot be captured by conventional means such as fingerprint sensitive evidence or fingerprint powder. The process involves heating the acrylate in a closed chamber forms a white, stable, and clear print outline. They should be used in their pure form or further refined by coloring with darker pigments.

Healthcare segment is projected to expand at a rapid pace

Based on end-users, the cyanoacrylate adhesives market is fragmented into furniture, consumer goods, transportation, electronics, healthcare, footwear and leather, and other end-users. The healthcare segment is expected to represent a key share of the market during the forecast period owing to increasing number of operations performed worldwide is increasing at a rapid pace. Sutures, staples, and grafts are an important part of surgery and are still the major standards for wound closure today. However, the pain and discomfort caused by invasive techniques urgently require the development of tissue adhesives for surgical procedures. The ester form of cyanoacrylate, N-butyl-2-cyanoacrylate, is one of the most widely used adhesive components in veterinary medicine. It is used to close surgical wounds and cat paw wounds. Technical advancements to improve non-toxic properties have increased the market demand for cyanoacrylate adhesives. Therefore, the healthcare industry is likely to expand at a substantial CAGR during the forecast period. On the other hand, the consumer electronics segment is anticipated to expand at a rapid pace during the forecast period due to cyanoacrylate adhesives maintain quality and lead time in the development of the electronics industry which helps to stimulate supply and demand.

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Asia Pacific is anticipated to dominate the market

On the basis of regions, the cyanoacrylate adhesives market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market in Asia Pacific is anticipated to dominate the market during the forecast period. Growth of the market can be attributed to high demand from countries such as China, India, and Japan, the Asia-Pacific region accounts for most of the global cyanoacrylate adhesive market. Market demand for cyanoacrylate is mainly driven by the expansion of various industries such as plastics industry, booming economic development of India and China, and rapid growth of the electronics industry. In addition, more and more dental and surgical adhesives are used in medical treatment, and the improvement of living standards is driving demand for furniture, which in turn opens up the cyanoacrylate adhesive market. In recent years, the health sector in China and India has achieved significant growth, which is the driving force behind the studied market.

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Segments

Segments Covered in the Report
The global cyanoacrylate adhesives market has been segmented on the basis of
Products

• Alkoxy Ethyl-based
• Ethyl Ester-based
• Methyl Ester-based
• Other Products

End-Users

• Transportation
• Furniture
• Footwear and Leather
• Automotive
• Electronics
• Healthcare
• Consumer Goods
• Other End-users

Regions

• Asia Pacific
• North America
• Latin America
• Europe
• Middle East & Africa

Key Players

• Master Bond Inc.
• 3M
• Arkema Group
• H.B. Fuller Company
• Henkel AG &Co. KGaA

Competitive Landscape

Key players competing in the cyanoacrylate adhesives market include Master Bond Inc., 3M, Arkema Group, H.B. Fuller Company, and Henkel AG &Co. KGaA.

Some of these players are Master Bond Inc., 3M, Arkema Group, H.B. Fuller Company, and Henkel AG &Co. KGaA several market strategies including mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to increase their market shares.