Global Cyanoacrylate Adhesives Market Set For 6.7% Growth, Reaching $1.93 Billion By 2028
Cyanoacrylate Adhesives Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033
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The cyanoacrylate adhesives market has shown substantial growth over the recent years, and it is expected to continue this upward trajectory. The market is projected to cross from $1.40 billion in 2023 to $1.49 billion in 2024 at a compound annual growth rate CAGR of 6.6%. This substantial growth in the historic period can be linked 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.
What Is The Predicted Growth And Market Size Of The Cyanoacrylate Adhesives Market?2
The cyanoacrylate adhesives market is set to witness robust growth in the forthcoming years. It is expected to surge to $1.93 billion in 2028 at a compound annual growth rate CAGR of 6.7%. The growth in the forecast period is anticipated due 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 encompass 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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What Are The Main Drivers Of The Cyanoacrylate Adhesives Market?
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Which Key Players Are Influencing The Growth Of The Cyanoacrylate Adhesives Market?
Major players in the cyanoacrylate adhesives market are concentrating on developing innovative solutions such as water-resistant cyanoacrylate adhesives, to offer firm bonds on a multitude of substrates, including metals, plastics, and rubbers. These adhesives are designed to resist moisture, making them suitable for usage in humid or wet environments.
How Is The Cyanoacrylate Adhesives Market Segmented?3
The cyanoacrylate adhesives market covered in this report is segmented –
1 By Type: Alkoxy Ethyl-Based, Ethyl Ester-Based, Methyl Ester-Based, Other Product Types
2 By Technology: Reactive, Ultraviolet UV Cured Adhesives
3 By Application: Automobiles, Footwear And Leather, Furniture, Consumer Goods, Healthcare, Electronics, Transportation, Other Applications
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