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The market for cyanoacrylate adhesive is expected to expand at a CAGR of more than 7% during the forecast period. Major factors driving the market studied are growing demand for lightweight and low-carbon-emitting vehicles.
- Stringent environmental regulations is expected to hinder the growth of the market studied.
- Increasing usage in medical applications is expected to act as an opportunity in the forecast period.
Key Market Trends
Rising Demand from the Healthcare Sector
- Every year, the number of surgeries performed worldwide is growing enormously. 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 have 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 have been widely used as a tissue adhesive in medical and veterinary applications for surgical wound closure and to close the wounds from cat declawing, etc.
- Cyanoacrylate adhesives even acquired the gold standard status in medical adhesives, which helped these adhesives to retain good market share in the medical adhesives market.
- Technological advancements in improving non-toxicity are expected to strengthen the growth rate of the cyanoacrylate adhesives market in the forecast period.
Asia-Pacific Region to Dominate the Market
- Asia-Pacific?accounted for the largest regional market for the cyanoacrylate adhesives market.
- The market demand for cyanoacrylate is majorly driven by expanding various industries such as plastic industry, dynamic economic development in India and China, and the burgeoning electronics industry.
- Furthermore, increasing usage in the medical application, such as dental and surgical adhesives, and rising standard of living is increasing the demand for home furnishings, which in turn, will offer numerous opportunities in the growth of the cyanoacrylate adhesives market, in Asia Pacific region.
- Such rapid growth in various end-user industries is likely to increase the demand for cyanoacrylate adhesives in the forecast period.
The cyanoacrylate adhesive market is fragmented. The major companies include 3M, Master Bond Inc., H.B. Fuller Company, Henkel AG & Co. KGaA, and Arkema Group, among others.
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