PUBLISHER: The Business Research Company | PRODUCT CODE: 1605551
PUBLISHER: The Business Research Company | PRODUCT CODE: 1605551
Cyanoacrylate adhesives, often referred to as superglue, are quick-setting and robust adhesives that solidify rapidly in moist conditions. They are utilized in a variety of settings, including industrial, medical, and household repairs, owing to their capability to bond with a wide array of materials such as metal, plastic, and rubber.
The primary categories of cyanoacrylate adhesives include alkoxy ethyl-based, ethyl ester-based, methyl ester-based, among others. Alkoxy-ethyl-based adhesives contain alkoxy groups that improve flexibility and decrease brittleness, making them suitable for resilient applications in the automotive and consumer goods sectors. Various technologies, including reactive and ultraviolet (UV)-cured adhesives, are employed for diverse applications, such as in automobiles, footwear and leather, furniture, consumer products, healthcare, electronics, and transportation.
The cyanoacrylate adhesives market research report is one of a series of new reports from The Business Research Company that provides cyanoacrylate adhesives market statistics, including cyanoacrylate adhesives industry global market size, regional shares, competitors with a cyanoacrylate adhesives market share, detailed cyanoacrylate adhesives market segments, market trends, and opportunities, and any further data you may need to thrive in the cyanoacrylate adhesives industry. This cyanoacrylate adhesives market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The cyanoacrylate adhesives market size has grown strongly in recent years. It will grow from $1.40 billion in 2023 to $1.49 billion in 2024 at a compound annual growth rate (CAGR) of 6.6%. The expansion during the historical period can be linked to the surge in the automotive industry, the increasing utilization of electronics, the rising adoption in aerospace, the swift growth of the consumer goods sector, and the trends in home improvement.
The cyanoacrylate adhesives market size is expected to see strong growth in the next few years. It will grow to $1.93 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%. The anticipated growth during the forecast period can be linked to sustainability trends, enhanced infrastructure development, the growing adoption of 3D printing across various industries, the expansion of renewable energy initiatives, and innovations in adhesive technology. Key trends expected during this period include a rising demand within the medical sector, a greater use of lightweight materials, miniaturization in electronics, an increased emphasis on adhesive strength, and the automation of manufacturing processes.
The increasing number of surgical procedures is projected to drive the growth of the cyanoacrylate adhesive market in the future. This rise in surgeries can be attributed to factors such as an aging population, a higher prevalence of chronic illnesses, and advancements in medical technology. Cyanoacrylate adhesives are utilized in surgical settings for wound closure and tissue bonding, serving as a non-invasive alternative to sutures and staples. They promote quicker healing and minimize scarring. For instance, data from the Australian Institute of Health and Welfare indicates that in the 2022-23 period, there were 735,500 patients admitted for surgery from public hospital elective surgery waiting lists in Australia, representing an 18% increase from 2021-22. Consequently, the growing number of surgical procedures is bolstering the demand for cyanoacrylate adhesives.
Key players in the cyanoacrylate adhesive market are concentrating on creating innovative products, such as water-resistant cyanoacrylate adhesives, which offer strong bonds across various substrates such as metals, plastics, and rubbers. These adhesives are designed to be fast-acting and durable while resisting moisture, making them suitable for humid or wet conditions. For example, in February 2024, Permabond LLC, a manufacturer of industrial adhesives based in the United States, introduced two cyanoacrylate adhesives, Permabond 712 and Permabond 130UV. Permabond 712 is a fast-setting adhesive ideal for bonding small components, featuring rapid curing and strong adhesion to diverse materials, including metals, plastics, and rubber. On the other hand, Permabond 130UV offers UV curing for applications that require invisible bonds and enhanced precision, making it particularly suited for glass, clear plastic, and other transparent substrates. Both products deliver efficient bonding solutions tailored to their specific applications.
In May 2024, H.B. Fuller Company, an adhesive manufacturer in the United States, completed the acquisition of ND Industries Inc. for an undisclosed sum. This acquisition aligns with H.B. Fuller's strategic focus on high-margin and high-growth segments within the functional coatings, adhesives, sealants, and elastomers (CASE) industry. ND Industries Inc. is a US-based supplier of cyanoacrylate adhesives.
Major companies operating in the cyanoacrylate adhesives market are 3M Company, Henkel AG & Co. KGaA, Parker-Hannifin Corporation, Arkema SA, Sika Services AG, H.B. Fuller Company, Aica Kogyo Co. Ltd., Pidilite Industries Limited, The Soudal Group, NANPAO RESINS CHEMICAL GROUP, DELO Industrial Adhesives LLC, Dymax Corporation, Chemence Inc., Threebond International Inc., Aron Alpha, Hernon Manufacturing Inc., Permabond Engineering Adhesives Ltd., Master Bond Inc., TONG SHEN ENTERPRISE CO. LTD., Aman International, Urja Sealants Pvt. Ltd., Vitrochem Technology Pte Ltd.
North America was the largest region in the cyanoacrylate adhesives market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cyanoacrylate adhesives market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the cyanoacrylate adhesives market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The cyanoacrylate adhesives market consists of sales of butyl cyanoacrylate, octyl cyanoacrylate, ultraviolet (UV)-curing cyanoacrylate adhesives, surface-insensitive cyanoacrylate adhesives, and rubber-toughened cyanoacrylate adhesives. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Cyanoacrylate Adhesives Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on cyanoacrylate adhesives market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for cyanoacrylate adhesives ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The cyanoacrylate adhesives market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.