PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1587654
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1587654
According to Stratistics MRC, the Global Cyanoacrylate Adhesives Market is accounted for $2.22 billion in 2024 and is expected to reach $2.95 billion by 2030 growing at a CAGR of 4.9% during the forecast period. Cyanoacrylate adhesives, commonly known as "super glue," are fast-curing, strong adhesives made from cyanoacrylate monomers. When exposed to moisture, these monomers polymerize rapidly, forming a durable bond with a variety of materials, including plastics, metals, ceramics, and wood. Known for their high tensile strength and quick bonding capabilities, cyanoacrylate adhesives are widely used in diverse applications, from household repairs to industrial manufacturing and medical uses.
According to IBEF facts, In January 2022, the total production of passenger vehicles, three-wheelers, two-wheelers and quadricycles reached 1,860,809 units in India.
Growing demand in healthcare
The growing demand in healthcare such as wound closure and surgical bonding, offer rapid curing times and strong bonding properties, making them ideal for various medical applications, including sutures and tissue adhesives. The increasing prevalence of minimally invasive surgeries and the need for efficient wound care solutions are driving this demand. Additionally, advancements in biocompatible formulations enhance their safety and efficacy, further boosting their adoption in the healthcare sector and contributing to market growth.
Limited temperature resistance
Limited temperature resistance typically exhibit degradation or loss of bonding strength when exposed to extreme heat, limiting their use in industries such as automotive, aerospace, and electronics, where components often encounter significant thermal stress. This limitation can lead to product failures, increased maintenance costs, and potential safety hazards. As a result, manufacturers may seek alternative adhesive solutions with better thermal stability, thereby reducing the overall demand for cyanoacrylate adhesives in applications requiring high-temperature performance.
Expansion in medical applications
Expansion in medical applications including rapid bonding, strong adhesion, and biocompatibility are increasingly utilized for surgical procedures, wound closure, and medical device assembly, providing effective alternatives to traditional sutures and staples. The growing demand for minimally invasive surgeries and advanced wound care solutions further drives this trend. Additionally, ongoing innovations in cyanoacrylate formulations enhance their performance and safety in medical settings, attracting healthcare professionals and institutions, thus expanding market opportunities in the healthcare sector.
Economic slowdowns
Economic slowdowns in businesses often cut back on production and investment, leading to decreased consumption of adhesives. Additionally, uncertainty in the market can delay projects and lead to lower consumer spending, further impacting sales. This contraction can result in reduced revenue for manufacturers and suppliers, forcing them to reassess pricing strategies and operational costs. Consequently, the overall growth and innovation in the cyanoacrylate adhesives sector may stagnate during prolonged economic challenges.
Covid-19 Impact
The COVID-19 pandemic significantly impacted the Cyanoacrylate Adhesives market, causing disruptions in supply chains and manufacturing operations due to lockdowns and restrictions. While demand for cyanoacrylate adhesives in essential sectors like healthcare surged, applications in automotive and construction faced slowdowns. As industries adapted to new norms, the market witnessed a shift towards increased use in medical applications, such as wound closure. Overall, the pandemic accelerated innovation and highlighted the importance of resilient supply chains in the adhesives sector.
The single-component adhesives segment is expected to be the largest during the forecast period
Over the forecasted timeframe, the single-component adhesives segment is anticipated to dominate the market share, due to its ease of use and quick curing properties, making it ideal for various applications. These adhesives require no mixing, allowing for faster application and reducing production time in industries such as automotive, electronics, and healthcare. Additionally, advancements in single-component formulations enhance their versatility and performance, catering to diverse requirements, from household repairs to industrial applications, further boosting the segment's growth within the cyanoacrylate adhesives market.
The aerospace segment is expected to have the highest CAGR during the forecast period
The aerospace segment is expected to register lucrative growth during the estimation period, due to high-performance bonding solutions for various applications, including structural components, interior fittings, and electronic assemblies. Cyanoacrylate adhesives offer rapid curing times, strong bond strength, and resistance to extreme temperatures, making them ideal for aerospace manufacturing. As the aviation industry focuses on lightweight materials and enhanced fuel efficiency, these adhesives are increasingly used in composite and metal bonding. Furthermore, the growing trend of aircraft modernization and maintenance drives demand for reliable and effective adhesive solutions, further boosting the market.
Over the forecasted timeframe, the Asia Pacific region is anticipated to dominate the market share due to high demand from industries such as automotive, electronics, healthcare, and construction. The region's expanding manufacturing base and increasing adoption of advanced adhesive solutions contribute to this growth. Countries like China and India are major contributors, leveraging their robust industrial sectors. Furthermore, the growing trend towards lightweight materials and efficient bonding solutions in manufacturing processes is enhancing the market's appeal. The ongoing technological advancements and innovations in adhesive formulations also support the region's dynamic market landscape.
The North America region is expected to register the highest growth rate over the forecast period, driven by robust demand across various industries, including automotive, healthcare, and electronics. The region's advanced manufacturing sector and the increasing trend of automation are further propelling the adoption of cyanoacrylate adhesives for efficient bonding solutions. Key players are investing in research and development to innovate formulations that enhance performance and sustainability. Additionally, the rising emphasis on eco-friendly products and stringent regulations on VOC emissions are shaping market dynamics, leading to the introduction of more environmentally responsible adhesive solutions.
Key players in the market
Some of the key players profiled in the Cyanoacrylate Adhesives Market include 3M Company, Henkel AG & Co. KGaA, Permabond LLC, Gorilla Glue Company, Cyberbond LLC, Elmer's Products, Inc., Pacer Technology, Super Glue Corporation, Sika AG, MasterBond Inc., Bostik SA, Adhesive Technologies GmbH, Delo Industrial Adhesives, Mokym Corporation and RCS Corporation.
In February 2024, Henkel acquired HAPPEE, a start-up focused on sustainable and eco-friendly household cleaning products. This acquisition aims to strengthen Henkel's portfolio in the consumer goods sector.
In January 2024, Henkel launched Loctite PL Premium, a high-performance construction adhesive that offers superior bonding strength and durability for various applications in construction and home improvement.
In October 2023, 3M announced a partnership with Curae Health to enhance healthcare solutions, focusing on infection prevention and patient safety products. This collaboration aims to leverage 3M's technologies in medical settings.