Global Cyanoacrylate Adhesives Market - Size, Share, COVID-19 Impact & Forecasts up to 2028

Global Cyanoacrylate Adhesives Market - Size, Share, COVID-19 Impact & Forecasts up to 2028

The Global Cyanoacrylate Adhesives Market is projected to register a CAGR of 5.97%

Key Highlights

• Largest Segment by End User Industry - Healthcare : Healthcare is the dominant end-user industry in the global cyanoacrylate adhesives market owing to the wide range of applications in surgical and medical device production.
• Largest Segment by Technology - Reactive : Reactive is the largest technology type in the global cyanoacrylate adhesives market owing to its wide range of applications across major end-user industries, including automotive, healthcare, and woodworking and joinery.
• Largest Segment by Region - Asia-Pacific : Asia-Pacific, driven mainly by India, China, South Korea, and Japan, is the largest cyanoacrylate adhesive consumer owing to its usage by various end-user industries.
• Fastest-growing Segment by Region - North America : Owing to the rising demand for electric vehicles and rapid growth of the healthcare industry in leading countries such as the United States, Canada, and Mexico, the North American region is forecast to be the fastest-growing region in the market.

Cyanoacrylate Adhesives Market TrendsHealthcare is the largest segment by End User Industry.

• Cyanoacrylate adhesives are used in different end-user industries because of their unique properties, such as quick or instant curing, usually at room temperature.
• Cyanoacrylate adhesives are used in the construction industry for their applications, such as flooring, roofing, and kitchen component assembly. The construction industry is expected to grow globally with a 3.5% CAGR up to 2030. Among the nations of the world, China, India, the United States, and Indonesia are expected to account for 58.3% of the global construction growth.
• Cyanoacrylate adhesives are widely used in the automotive industry because of their applicability to surfaces such as glass, metal, plastic, and painted surfaces. They are used to assemble body interiors and engine components, such as battery assembly in electric vehicles. The electric vehicles segment of the automotive industry is expected to record a 17.75% CAGR globally in the forecast period because of the increase in demand for the same in growing economies. This is expected to boost the demand for automotive cyanoacrylate adhesives in the forecast period.
• Cyanoacrylate adhesives are widely used in electronics and electrical equipment manufacturing. They are used for attaching sensors and tacking off wires. The global electronics and household appliances industries are expected to record CAGRs of 2.51% and 5.77%, respectively, which is expected to increase demand for cyanoacrylate adhesives in the forecast period 2022-2028.
• Cyanoacrylate adhesives are used in the healthcare industry for applications such as assembling and medical tapes because of their non-toxic nature and instant curing. The increase in healthcare investments worldwide will lead to a rise in their demand in the forecast period.

Asia-Pacific is the largest segment by Region.

• Cyanoacrylate adhesives account for 3% of the total adhesives market worldwide, valued at USD 54.7 billion in 2021. Cyanoacrylate adhesives are popular because of their quick bonding properties. It requires less adhesive to form a bond between various substrates, including metals, glass, and polymers. These adhesives are majorly consumed in automotive, electronics, DIY, healthcare, and a few other industries across the globe.
• The consumption of cyanoacrylate adhesives declined in 2020 by 10.74% compared to 2019, mainly due to the COVID-19 pandemic. Nationwide lockdowns globally resulted in the shutdown of production facilities, supply chain disruptions, and sealed international borders for trade exchange. However, the economic recovery in many countries resulted in a growth in demand for cyanoacrylate adhesives by 25.2 million kg in 2021.
• Cyanoacrylate adhesives are consumed mainly in the Asia-Pacific region owing to growing economies such as China, Japan, and India. These instant adhesives are widely used in the region's automotive, DIY, and electronics industries. China is the largest country for automotive production, and these adhesives are used more in the country. Automotive production is expected to reach 63.7 million units by 2027 from 47.9 million units in 2021. The rising automotive production in the region is expected to drive the demand for cyanoacrylate adhesives over the coming years.
• Cyanoacrylate adhesives are used with reactive and UV-cured technology. UV-cured technology is the fastest-growing technology in the world and is expected to record a CAGR of 4.83% in volume terms in the forecast period 2022-2028.

Cyanoacrylate Adhesives Market Competitive Analysis

The Global Cyanoacrylate Adhesives Market is moderately consolidated, with the top five companies occupying 50.96%. The major players in this market are 3M, Aica Kogyo Co..Ltd., Arkema Group, H.B. Fuller Company and Henkel AG & Co. KGaA (sorted alphabetically).

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• The market estimate (ME) sheet in Excel format
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