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Cyanoacrylate Adhesives Market Size, Scope Analysis, Key Insights, Leading Key Players, And Forecast To 2033
Cyanoacrylate Adhesives Market Size
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According to The Business Research Company's, 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 growth in the historic period can be attributed to the rise in the automotive industry, the growing use of electronics, increasing adoption in aerospace, the rapid expansion of the consumer goods sector, and home improvement trends.
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 growth in the forecast period can be attributed to sustainability trends, increased infrastructure development, the increasing adoption of 3d printing in industries, growth in renewable energy projects, and advancements in adhesive technology. Major trends in the forecast period include rising demand in the medical sector, increasing use of lightweight materials, miniaturization in electronics, increased focus on adhesive strength, and automation in manufacturing.
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Market Drivers and Trends:
The growing number of surgeries is expected to propel the growth of the cyanoacrylate adhesive market going forward. The number of surgeries is growing due to increasing aging populations, rising prevalence of chronic diseases, and advancements in medical technologies. Cyanoacrylate adhesives are used in surgeries for wound closure and tissue bonding and as a non-invasive alternative to sutures or staples, promoting faster healing and reducing scarring. For instance, in December 2023, according to the Australian Institute of Health and Welfare, an Australia-based government administration, in 2022-23, 735,500 patients were admitted for surgery from public hospital elective surgery waiting lists, marking an 18% rise compared to 2021-22. Therefore, the growing number of surgeries is driving the growth of the cyanoacrylate adhesive market.
Major companies operating in the cyanoacrylate adhesive market are focusing on developing innovative solutions, such as water-resistant cyanoacrylate adhesives, to provide strong bonds on a multitude of substrates, including metals, plastics, and rubbers. Water-resistant cyanoacrylate adhesives are fast-acting, strong bonding glues designed to resist moisture, making them suitable for use in humid or wet environments. For instance, in February 2024, Permabond LLC, a US-based manufacturer of industrial adhesives, launched the Permabond 712 and Permabond 130UV, cyanoacrylate adhesives. Permabond 712 is a fast-setting cyanoacrylate adhesive designed for bonding small components, offering high-speed curing and strong adhesion to various materials, including metals, plastics, and rubber. Permabond 130UV features UV curing for applications requiring invisible bonds and enhanced precision, making it ideal for glass, clear plastic, and other transparent substrates. Both provide efficient bonding solutions with specific benefits for their intended applications.
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Major Key Players of the Market:
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.
Cyanoacrylate Adhesives Market 2024 Key Insights:
• 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%.
• Rising Surgical Procedures Driving Growth In The Cyanoacrylate Adhesive Market
• Innovative Solutions In The Cyanoacrylate Adhesive Market Enhancing Bonding Capabilities Across Diverse Substrates
• North America was the largest region in the cyanoacrylate adhesives market in 2023
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