Cyanoacrylate Adhesives Market by Chemistry (Ethyl cyanoacrylate, Methyl cyanoacrylate), End-use Industry (Industrial, Woodworking, Transportation (Automotive, Aerospace, Medical, Electronics, Consumer) - Global Forecast to 2029
Updated on : October 10, 2024
Cyanoacrylate Adhesives Market
The global cyanoacrylate adhesives market is valued at USD 2.22 billion in 2024 and is projected to reach USD 2.56 billion by 2029, growing at 2.9% cagr from 2024 to 2029.
Cyanoacrylate adhesives, which cure rapidly to form strong bonds, find applications in different industries and sectors. Enhancements in formulations have led to the introduction of new, highly efficient cyanoacrylate adhesives. The growth of the cyanoacrylate adhesives market is driven by their increasing demand in various industries and sectors, including transportation, medical, electronics, and woodworking. The increasing number of infrastructure and construction projects and the rising requirement for quick bonding and rapid curing adhesive solutions also contribute to the market growth. The rapid developments in the cyanoacrylate adhesives market, technological improvements, and adherence of cyanoacrylate adhesives to regulatory compliance represent promising growth potential, opening investment prospects for investors and stakeholders looking to benefit from the developments and emerging trends in the industry.
Attractive Opportunities in Cyanoacrylate Adhesives Market
Source: Interviews with Experts, Secondary Research, and MarketsandMarkets Analysis
To know about the assumptions considered for the study, Request for Free Sample Report
Source: Interviews with Experts, Secondary Research, and MarketsandMarkets Analysis
Cyanoacrylate Adhesives Market Dynamics
Drivers: Rising use of lightweight materials in automotive industry
The automotive industry’s shift toward lightweight materials is expected to be a major growth driver for the cyanoacrylate adhesives market. Automobile companies are focusing on using lightweight materials to enhance the performance and efficiency of automobiles. Using cyanoacrylate adhesives for bonding applications allows the industry players to manufacture lightweight and efficient materials. Cyanoacrylate adhesives are highly preferred in the automotive industry as they quickly bond various substrates with minimal material waste. The industry players extensively use these adhesives in bonding applications to enhance the product’s performance and fuel efficiency. The automotive industry is projected to grow at a CAGR of 2.8% between 2024 and 2029, highlighting the growing opportunities for the cyanoacrylate adhesives market. All these factors make cyanoacrylate adhesives a key solution for automobile manufacturers to achieve their strategic goals and maintain a competitive edge in the market.
Restraints: Limited shelf life and stability issues under certain conditions
Although well-known for their quick-curing qualities, which enable quick bonding, cyanoacrylate adhesives have a short shelf life. Thus, their long-term storage and use present difficulties. Cyanoacrylate adhesives are sensitive to changes in temperature and moisture and prone to deterioration over time. Therefore, careful handling and storage practices are needed to preserve their efficacy. This short shelf life raises the possibility of material waste and adds complexity to inventory management, lowering overall cost-efficiency for producers and end users.
Furthermore, unfavorable environmental factors such as high moisture content or low temperatures might affect the durability of cyanoacrylate adhesives. They may quicken adhesive deterioration, making it harder to apply and less reliable. As a result, producers and users must carefully evaluate these limitations to minimize any possible problems with adhesive performance and operational effectiveness. Thus, limited shelf life and stability issues associated with cyanoacrylate adhesives under certain conditions are expected to hamper the market growth during the forecast period.
Opportunities: Expanding medical and electronics industries
Due to their quick bonding and high strength, cyanoacrylate adhesives are being adopted in the medical and electronics industries. These adhesives are used for wound closure, surgeries, and medical device assembly in the medical industry. In the electronics industry, they act as strong bonding solutions essential for manufacturing and repair applications. Their ability to strengthen the bonding of the substrates facilitates manufacturing of advanced electrical devices and components.
In the medical industry, cyanoacrylate adhesives are used for safe wound closure and surgical processes. They are also used to assemble and join different medical devices, making them stronger and more efficient. In the electronics industry, these adhesives are essential in the assembly process of electronic devices and in the repair and maintenance of complicated electronic systems. These adhesives are crucial as they cure rapidly and have high bonding strength, which ensures the reliability and integrity of advanced electronic assemblies. Thus, the expanding the medical and electronics industries is expected to create lucrative opportunities for cyanoacrylate adhesive providers during the forecast period.
Challenges: Stringent safety and environmental regulations
Manufacturers of cyanoacrylate adhesives face challenges related to strict safety and environmental standards. These standards can affect the entire production process, from raw material procurement to the final product development. Cyanoacrylate adhesives are subject to stringent safety restrictions because of possible health hazards, including strong fumes and skin irritation.
In addition, the sanctions for noncompliance could be fines, product recalls, and distribution restrictions, consequently hampering the financial performance and reputation of market players. The financial consequences could include high expenses related to adhering to regulations and possible revenue loss because of limited product distribution. Raw material sustainability, environmental impact of manufacturing processes, and adhesive product disposal are major concerns for the market players. To reduce their ecological footprint, businesses must adhere to these strict environmental requirements. Manufacturers are required to ensure that their products comply with these regulations.
Cyanoacrylate Adhesives Market Ecosystem
Source: Interviews with Experts, Secondary Research, and MarketsandMarkets Analysis
The cyanoacrylate adhesives ecosystem includes chemistries, curing procedures, applications, and end-use industries. These adhesives are based on cyanoacrylate monomers, which quickly polymerize to form strong, long-lasting connections when exposed to moisture. This fast-curing response facilitates adhesion quickly and effectively. Cyanoacrylate adhesives are used in many industries, including electronics and woodworking for accurate component bonding, medical for wound closure and device assembly, and transportation for structural bonding and repairs in automobile production.
By curing process, conventional segment accounted for largest share of cyanoacrylate adhesives market during forecast period
The conventional cyanoacrylate adhesives segment has experienced tremendous growth because of their remarkable qualities, including ease of use, cost-effectiveness, and reliability in various bonding applications. The curing process is simple, requiring no additional heat or light sources, making it accessible to a wide range of users, from industrial manufacturers to consumers. The conventional curing segment also benefits from the continuous advancements in adhesive formulations that enhance performance while maintaining the core benefits of traditional curing methods. The innovations in cyanoacrylate adhesive technology are helping conventional curing adhesives to meet evolving industry demands. As companies search for dependable and effective bonding solutions, the demand for conventional cyanoacrylate adhesives is projected to rise significantly. All these factors are expected to drive the demand for conventional cyanoacrylate adhesives and the segment’s growth during the forecast period.
By end-use industry, industrial to be largest segment of cyanoacrylate adhesives market
The demand for cyanoacrylate adhesives is high in the industrial sector as they are versatile and quick to set up, making them indispensable in many assembly and manufacturing processes. These adhesives have quick bonding properties, making them perfect for businesses where efficiency and speed are critical. Cyanoacrylate adhesives create a strong bond that can be applied to various materials, including plastics, metals, and ceramics. They are used in manufacturing electronics, automobile parts, and medical devices. Companies in the industrial sector use cyanoacrylate adhesives to minimize downtime, expedite operations, and preserve product quality without requiring lengthy curing times. Due to their quick bonding time, cyanoacrylate adhesives enable manufacturers to fulfill demanding production deadlines, which boosts output and reduces overhead. Furthermore, the adhesive’s capacity to form robust bonds under adverse circumstances such as high temperatures or chemical exposure makes it a crucial solution in the industrial sector.
Asia Pacific to be largest cyanoacrylate adhesives market during forecast period
Source: Interviews with Experts, Secondary Research, and MarketsandMarkets Analysis
To know about the assumptions considered for the study, download the pdf brochure
Asia Pacific is projected to be the largest cyanoacrylate adhesives market due to the expanding industrial base and high economic growth fueling the demand for cyanoacrylate adhesives. The transportation, electronics, medical, and manufacturing sectors use high-performance adhesives for assembly and repair applications because of their strong bonding capability, quick curing time, and adaptability. The rising infrastructure development projects and urbanization in China and India significantly boost the demand for cyanoacrylate adhesives. The demand for cyanoacrylate adhesives is also rising in the electronics and consumer industries, supported by the growing middle-class population.
Cyanoacrylate Adhesives Market Players
Henkel AG & Co. KGaA (Germany), H.B. Fuller Company (US), 3M (US), Sika AG (Switzerland), Huntsman International LLC (US), Arkema (France), Toagosei Co., Ltd (Japan), Dymax (US), Illinois Tool Works Inc. (US), Pidilite Industries Limited (India), Astral Ltd. (India), Parker-Hannifin Corporation (US), Permabond (UK), Franklin International (US), and Master Bond Inc. (US) are the key players in the global cyanoacrylate adhesives market.
Henkel AG & Co. KGaA, a parent company of Henkel Group, is a prominent market player in both industrial and consumer sectors, led by its strong brands and pioneering technologies, including Persil, Schwarzkopf, and Loctite. The company has a diverse portfolio that includes renowned hair care products, laundry detergents, fabric softeners, adhesives, sealants, and functional coatings.
Henkel AG & Co. KGaA operates globally under two primary business segments: Adhesive Technologies and Consumer Brands. The Adhesive Technologies business segment of the company is a global leader in the adhesive business, offering cyanoacrylates, sealants, and functional coatings to industrial clients.
The company has a global presence with 161 manufacturing sites in 55 countries. The largest production facilities of the company are situated in Bowling Green, Kentucky, US, and in Düsseldorf, Germany.
Cyanoacrylate Adhesives Market Report Scope
|
Report Metric |
Details |
|
Market Size Available for Years |
2021–2029 |
|
Base Year Considered |
2023 |
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Forecast Period |
2024–2029 |
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Forecast Units |
Value (USD Million/Billion) |
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Segments Covered |
By Chemistry, Curing Process, Application, End-use Industry, and Region |
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Geographies Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
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Companies Covered |
A total of 20+ players have been covered, including Henkel AG & Co. KGaA, H.B. Fuller Company, 3M, Sika AG, Huntsman International LLC, Arkema, Toagosei Co., Ltd, Dymax, Illinois Tool Works Inc., Pidilite Industries Limited, Astral Ltd., Parker-Hannifin Corporation, Permabond, Franklin International, Master Bond Inc., Parson Adhesives, Inc., DELO Industrial Adhesives LLC., Chemence, Hernon Manufacturing, Inc., and Urja Sealants Pvt. Ltd |
Based on chemistry type, the cyanoacrylate adhesives market has been segmented as follows:
- Ethyl Cyanoacrylate
- Methyl Cyanoacrylate
- Other Chemistries (Butyl and Allyl Cyanoacrylate)
Based on End-use Industry, the cyanoacrylate adhesives market has been segmented as follows:
- Industrial
- Transportation
- Automotive
- Aerospace
- Other Transportations
- Woodworking
- Medical
- Electronics
- Consumer
- Other End-use Industries
Based on the region, the cyanoacrylate adhesives market has been segmented as follows:
- Europe
- Asia Pacific
- North America
- Middle East & Africa
- South America
Recent Developments
- In May 2024, 3M expanded its facility in Valley, Nebraska, with a new 90,000-square-foot addition. This expansion primarily aims to boost manufacturing capacity and generate new employment opportunities. This USD 67 million investment funds new production lines, state-of-the-art equipment, and additional warehouse space, enabling 3M to respond more swiftly to customer demand for its personal safety products.
- In February 2024, Henkel AG & Co. KGaA launched two new cyanoacrylates adhesive solutions: Loctite 4011S and Loctite 4061S. These adhesives offer robust bonding on plastics, rubbers, and metals and are ideal for medical device applications to enhance safety and performance.
- In October 2023, Astral Adhesives, a subsidiary of Astral Ltd., started a new manufacturing facility in Dahej, Gujarat, spanning 17 acres. This new facility highlights the company’s commitment to advanced manufacturing standards, including automation, stringent safety measures, and ergonomic design in the Adhesives business segment.
- In January 2021, Arkema invested USD 11 million in Crackless Monomer Company (CMC), a joint venture with Bostik and Taiwanese firm Cartell Chemical Co. Bostik, the advanced adhesive business segment of Arkema, holds a 51% stake in CMC and increased the development and production of advanced engineering adhesives.
- In April 2021, Sika AG acquired Hamatite, the adhesives division of The Yokohama Rubber Co., Ltd. Hamatite, a leading player in Japan, specializes in adhesives and sealants for the automotive and construction sectors. This acquisition focuses on expanding the market presence of Sika AG in Japan and enhancing the product offerings for sealing and bonding solutions.
Frequently Asked Questions (FAQ):
What are the driving factors for the growth of the cyanoacrylate adhesives market?
The expanding industrial sector is the major factor driving the growth of the cyanoacrylate adhesives market.
Which are the major end-use industries of cyanoacrylate adhesives?
The major end-use industries of cyanoacrylate adhesives include industrial, transportation, medical, and electronics.
Who are the major manufacturers of cyanoacrylate adhesives?
Henkel AG & Co. KGaA, H.B. Fuller, Sika AG, 3M, and Huntsman International LLC are some leading producers of cyanoacrylate adhesives.
What are the reasons why cyanoacrylate adhesives are gaining market share?
Cyanoacrylate adhesives are gaining market share due to the growing demand for strong bonding and rapid curing adhesives in transportation, electronics, and the medical industries.
Which is the largest region in the cyanoacrylate adhesives market?
Asia Pacific is the largest region in the cyanoacrylate adhesives market. .
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The study involved four major activities in order to estimate the current size of the cyanoacrylate adhesives market. Exhaustive secondary research was conducted to gather information on the market. The next step was to conduct primary research to validate these findings, assumptions, and sizing with the industry experts across the supply chain. Both top-down and bottom-up approaches were used to estimate the total market size. The market size of segments and subsegments was then estimated using market breakdown and data triangulation.
Secondary Research
Secondary sources include annual reports of companies, press releases, investor presentations, white papers, articles by recognized authors, and databases, such as Hoovers, Bloomberg L.P., Factiva, ICIS, and OneSource; and publications and databases from associations, National Library of Medicine, FEICA (Association of the European Adhesive & Sealant Industry), Adhesive and Sealant Council, American Chemical Society, British Adhesives & Sealants Association, Adhesives and Sealants Manufacturers Association of Canada (ASMAC), The Adhesives and Sealants Association (TASA).
Primary Research
Extensive primary research was carried out after gathering information cyanoacrylate adhesives market through secondary research. In the primary research process, experts from the supply and demand sides have been interviewed to obtain qualitative and quantitative information and validate the data for this report. Questionnaires, emails, and telephonic interviews were used to collect primary data. Primary sources from the supply side include industry experts, such as chief executive officers (CEOs), vice presidents (VPs), marketing directors, technology and innovation directors, and related key executives from various key companies and organizations operating in the cyanoacrylate adhesives market. Primary interviews were conducted to elicit information such as market statistics, revenue data collected from the products and services, market breakdowns, market size estimations, market forecasting, and data triangulation. Primary research also assisted in comprehending the various trends associated to type, application, and region.
The Breakup of Primary Research:
To know about the assumptions considered for the study, download the pdf brochure
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CYANOACRYLATE ADHESIVES MANUFACTURERS |
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Henkel AG & Co. KGaA |
Arkema |
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H.B. Fuller Company |
Toagosei Co., Ltd |
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3M |
Illinois Tool Works Inc. |
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Sika AG |
Pidilite Industries Limited |
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Huntsman International LLC |
Dymax |
Market Size Estimation
The following information is part of the research methodology used to estimate the size of the cyanoacrylate adhesives market. The market sizing of the cyanoacrylate adhesives market was undertaken from the demand side. The market size was estimated based on market size for cyanoacrylate adhesives in various technology.
To know about the assumptions considered for the study, Request for Free Sample Report
Data Triangulation
After arriving at the overall market size, the market has been split into several segments. To complete the overall market engineering process and arrive at the exact statistics for all segments, the data triangulation and market breakdown procedures have been employed, wherever applicable. The data was triangulated by studying various factors and trends from the demand and supply sides. Along with this, the market size was validated using both the top-down and bottom-up approaches.
Market Definition
The term "Cyanoacrylate Adhesives" (CA) refers to acrylic resins that quickly polymerize when they come into contact with moisture, usually from the air or surfaces, resulting in a speedy and thorough cure, according to the "National Library of Medicine". When exposed to moisture, especially hydroxide ions, these resins quickly attach and bOnd to surfaces in 5 to 6 seconds, and undergo through exothermic polymerization within 60 seconds.
Key Stakeholders
- Cyanoacrylate adhesives manufacturers
- Adhesive manufacturers
- Adhesive & Sealants Association
- Raw material suppliers
- Manufacturing technology providers
- Industry associations
- Stakeholders in the timber industry
- Traders, distributors, and suppliers of cyanoacrylate adhesives
- NGOs, government bodies, regional agencies, and research organizations
Report Objectives
- To define, describe, and forecast the cyanoacrylate adhesives market in terms of value and volume
- To provide detailed information about the key factors, such as drivers, restraints, opportunities, and challenges, influencing the market growth
- To analyze and forecast the market size by chemistry, curing process, application, and end-use industry.
- To forecast the cyanoacrylate adhesives market size for North America, Europe, Asia Pacific, South America, and Middle East & Africa
- To strategically analyze micromarkets1 concerning individual growth trends, growth prospects, and their contribution to the overall market
- To assess the opportunities in the market for stakeholders and provide a competitive landscape for the market leaders
- To analyze competitive developments, such as acquisitions, product launches, investments, expansions, agreements, collaborations, and partnerships, in the market
- To strategically profile the key players and comprehensively evaluate their market shares and core competencies
Available Customizations
MarketsandMarkets offers the following customizations for this market report:
- Further breakdown of a specific region of the cyanoacrylate adhesives market
- Detailed analysis and profiling of additional market players (up to five)
Product Analysis
- Product matrix, which provides a detailed comparison of the product portfolio of each company in the cyanoacrylate adhesives market
Growth opportunities and latent adjacency in Cyanoacrylate Adhesives Market