Market Overview
Cyanoacrylate adhesives bonds numerous plastic materials
like polycarbonate, styrene, acrylic, and acrylonitrile butadiene styrene (ABS)
as well as metal and ceramic. It can bond to the surface where there is
moisture and applied based on cure time, environmental resistance, and
requirement of specific substrates. Cyanoacrylate adhesives has short shelf
life and should be purchased when required as they are strong and act fast on
surface. It has poor moisture and heat resistance however manufacturers are
focusing on the development of better shear strength and high toughness
cyanoacrylate adhesives to improve impact resistance bond. Increasing demand
for plastic, metal, and glass in consumer goods, automotive, and electronics
industry is propelling cyanoacrylate adhesives application worldwide.
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Competitive Analysis
Leading players of the global cyanoacrylate adhesives market
are Henkel AG & Co. KGaA (Germany), Benson Polymers Limited (India), 3M
(US), Master Bond (US), Adhesive Systems, Inc. (US), Permabond LLC. (UK), Tong
Shen Enterprise Co., Ltd (China), Premium Metals & Components Pvt. Ltd.
(US), Royal Adhesives & Sealants, LLC (US) and Cyberbond L.L.C. (US).
Market Segmentation
The global cyanoacrylate
adhesive market has been segregated based on type, end-use industry and
region. By type, the global cyanoacrylate adhesives market is divided into
methyl, ethyl, alkoxy, and others. The methyl segment will grow with a
significant CAGR during the forecast period and is expected to witness
substantial growth in automotive and electronic industry during the forecast
period. Ethyl based cyanoacrylate adhesive type is majorly used for bonding
plastic or rubber-based substrate thus the segment will witness substantial
growth by 2023.
The end-use industries segment of the global cyanoacrylate
adhesive market has been divided into automotive, consumer products,
healthcare, electronic, and others. In 2017, the automotive segment held the
largest share of this market. Cyanoacrylate adhesives has been predominantly
used in healthcare segment rather owing to its fast curing properties. Growing
use of cyanoacrylate adhesives in the plastic, glass, and metal will accelerate
demand in electronic and consumer goods industry.
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Regional Analysis
The cyanoacrylate adhesives market has been studied with
respect to five regions—Asia-Pacific, North America, Europe, Latin America, and
the Middle East & Africa. Asia-pacific is the potential market to the
cyanoacrylate adhesives market and is the leading consumer of these adhesives
types in terms of volume. The market in Asia-Pacific is expected to grow at a
high CAGR owing to the rising product demand in the automotive and healthcare
industries. The automotive industry in the region is growing at a phenomenal
pace which is projected to fuel market demand for the type in the regional.
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