Asia-Pacific Cyanoacrylate Adhesive Market - Segmented by Type, End-user Industry, and Geography - Growth, Trends, and Forecast (2018 - 2023)
The asia-pacific cyanoacrylate adhesives market is expected to register a significant growth during the forecast period (2018 - 2023). This growth is driven by the rapidly growing automotive industry.
Rapidly Growing Automotive Industry Driving the Market
In China, automotive is one of the pillar industries and it continues to be the largest market for vehicles in the world. The country registered an automotive production of more than 29 million during 2017. With the strong demand in the automotive industry, the production of automobiles is expected to increase in the country. The region is also a home to some of the largest producers of light vehicles in the world, such as Japan, Korea, and India. These countries contribute about 42% of the total light vehicles produced globally. In addition, the production of vehicles has also been increasing in the ASEAN regions. This is likely to increase the demand for cyanoacrylate adhesives during the forecast period.
Automotive Industry Dominates the Market
The Automotive industry provided the largest demand for the Asia-Pacific cyanoacrylate market in 2017. In the automotive industry, cyanoacrylates are used to bond weather strips, engine hose protectors, hose clips, and roof pads. Despite the largest end-user segment, automotive is still projected to maintain a good pace of growth during the forecast period. The continuously expanding automotive adhesives and sealants market is key to the growth in the automotive segment.
China to have the Largest Market Growth
In 2017, China accounted as the largest regional market for cyanoacrylate adhesives. The market demand for cyanoacrylate is majorly driven by the rapid as well as continued growth in the automotive and electronics industry. Furthermore, the increasing usage in medical applications, such as dental and surgical adhesives, and the rising standard of living leading to an increase in the demand for home furnishings offer numerous opportunities for growth of the cyanoacrylate adhesives market in the country.
February 2017: The acquisition of Cyberbond helped the global adhesives manufacturer H.B. Fuller to quickly become a leader in the cyanoacrylate adhesives (CA) technology market.
Major Players: 3M, Arkema Group, H.B. Fuller Co, Henkel AG & Co. KGaA and Sika AG, and Dow Corning Corporation (DowDuPont), among others.
Reasons to Purchase this Report
Identify the current and future global cyanoacrylate adhesives market in the developed and emerging markets
Analyze various perspectives of the market with the help of Porter’s five forces analysis
Information of the segment that is expected to dominate the market
Identify the region that is expected to witness the fastest growth during the forecast period
Identify the latest developments, market shares, and strategies employed by the major market players
3-month analyst support, along with the Market Estimate sheet (in Excel)
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