Asia-Pacific Instant Adhesive Market Outlook, 2027

Asia-Pacific Instant Adhesive Market Outlook, 2027

Cyanoacrylates have a major market share in the Asia-Pacific instant adhesive market with a 77% market share. One of the major factors driving the market is the growing demand from the electronics industry. However, volatility in raw material prices is hindering the growth of the market. The increasing use of reusable plastic in the consumer goods industry is expected to provide a major growth opportunity for the market. China accounted for the highest share of the market and is likely to continue dominating the market during the forecast period. The number of surgeries performed in the Asia-Pacific region has witnessed significant growth in the past few years. Sutures, staples, and metallic grafts are an integral part of the surgery and also the highest standard possible at present for wound closure. However, the pain and discomfort caused by these invasive techniques has led to an urgent need for the development of tissue adhesives for surgical settings. The ester form of cyanoacrylate, N-butyl-2-cyanoacrylate, is one of the adhesive components that has been widely used as a tissue adhesive in medical and veterinary applications for surgical wound closure and to close wounds from cat declawing, etc. Cyanoacrylate adhesives even acquired the gold standard status in medical adhesives, which helped these adhesives to retain a good market share in the medical adhesive market. Technological advancements in non-toxicity are propelling the cyanoacrylate adhesives market.

According to the research report, Asia-Pacific Instant Adhesive Market Outlook, 2027, published by Bonafide Research, the market is expected to grow rapidly at a CAGR of 9.98% over the forecast period. China is the driving force behind the APAC region’s growing demand for instant adhesives in the presence of large-scale manufacturing industries. China is the global leader in the manufacturing of electronics, medical devices, consumer goods, and industrial goods. China has a 31% market share in the Asia-Pacific instant adhesive market and is projected to grow further over the forecast period. India, on the other hand, is expected to grow at a rapid CAGR of 10.72% over the next few years. This is due to major manufacturing industries' expanding their base to India.

The medical industry has the highest application of instant adhesives in China with nearly 25% market share, due to the presence of global leaders in medical device manufacturing. Of the world’s top 10 medical device manufacturing companies in 2021, 9 have their presence in China for manufacturing and distribution to global locations. The companies are Medtronic, Johnson & Johnson, Abbott, Philips, Fresenius medical care, GE healthcare, Becton Dickinson & Company, Siemens healthiness, and Stryker. Medtronic is the world's leading manufacturer of medical devices in 2021 and has its manufacturing facilities in China. It has ground-breaking healthcare technology solutions for the most complex and challenging conditions. Johnson & Johnson is the world’s largest and most diverse medical devices and diagnostics company. Johnson & Johnson has a presence in China, which nurtures the development of early-discoveries into clinical applications. The Medical Devices and Diagnostics segment produces a broad range of innovative products used primarily by health care professionals in the fields of orthopaedics, neurovascular, surgery, vision care, diabetes care, infection prevention, diagnostics, cardiovascular disease, sports medicine, and aesthetics. Abbott opens a new China R&D centre to help meet the evolving healthcare needs of local consumers.

The outbreak of coronavirus had a negative impact on the instant adhesives market. There have been severe disruptions in manufacturing and supply chain operations as a result of lockdowns and other limitations imposed by governments all over the world. Furthermore, consumer demand has decreased as people are now more focused on removing non-essential expenses from their budgets since the general economic situation of most people has been badly impacted. The Asia-Pacific instant adhesives market is likely to revive as regional government agencies begin to lift these enforced lockdowns. COVID-19 has presented a problematic situation for cyanoacrylate adhesives in the region. However, the condition is better now, which increases the probability of market recovery over the forecast period.

Companies present in the market: 3M, Bostik SA, Delo Industrial Adhesive, H.B Fuller, Henkel AG & Company, Huntsman Corporation, Illiniois Tool Works Incorporation, Lord Corporation, Loxeal Engineering Adhesive, Parson Adhesives, Permabond LLC., Pidilite Industries, RPM International Inc, Sika AG, Toagosei Co. Ltd.

Considered in this report
• Geography: Asia-Pacific
• Base year: 2021
• Estimated year: 2022
• Forecast year: 2027

Aspects covered in this report
• Asia-Pacific Instant Adhesive market with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Curing Process in the report
• Conventional
• Light-cured

By Chemistry in the report
• Cyanoacrylate
• Epoxy-based

By Application in the report
• Industrial
• Woodworking
• Transportation
• Consumer
• Electronics
• Others( Medical And Others)

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third party sources such as press releases, annual report of companies, analysing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources.

Intended audience
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to Instant Adhesive industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.
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