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COVID-19 Impact analysis
- The cyanoacrylate adhesives market was negatively affected due to the outbreak of COVID-19 pandemic.
- The industries such as automotive, leather and footwear, consumer goods, furniture, electronics and others were shut down during the COVID-19 pandemic. This decreased the demand for cyanoacrylate adhesives which affected the cyanoacrylate adhesives market.
- The COVID-19 pandemic has caused the imposition of lockdown due to which the production of cyanoacrylate adhesives decreased and the global supply chain was affected, this decreased the demand for cyanoacrylate adhesives market.
- The cyanoacrylate adhesives market faced downfall of revenue due to the COVID-19 pandemic.
Top Impacting Factors
Cyanoacrylate adhesives are used in a variety of applications including prototype electronics assembly, model aircraft fight, and retention dressing for nuts and bolts. These are also employed in medical device industry to glue needles and other medical devices. Furthermore, these adhesives are employed as a finisher in automotive assembly and in wood turners. The expansion of these industries will drive the growth of the market. The rising use of plastic in the appliance business will benefit the market. Since, cyanoacrylate adhesives are used to blind plastic cabinets, appliance, liners, doors and shelves. Furthermore, the usage of reusable plastic in the appliance industry is increasing. This will create opportunities for the cyanoacrylate adhesives market due to these reasons, the plastic disposal is minimum in the appliance industry. The challenges such as limited technological improvements can restrain the growth of the market. However, it is likely to benefit greatly from the expansion of many end-use industries.
Market Trends
- The number of surgeries performed worldwide is increasing every year. The highest standard for wound closure and integral part of the surgery are metallic grafts, sutures and staples. The pain and discomfort produced by these surgical procedures has created an urgent need for the development of surgical tissue adhesives.
- N-butyl-2- cyanoacrylate is an ester version of cyanoacrylate is the adhesive components which is used as a tissue adhesive in medical industry. Healthcare industry is expected to increase at the fastest rate and will increase the demand for cyanoacrylate adhesives market.
- In North America, the rigid bonding and transportation segments are expanding. This will create opportunity in North America.
- The market is Asia-Pacific will raise rapidly due to the increase in plastic manufacturing sectors in developing countries such as India Japan and China.
- Market players are adopting many strategies such as R&D activities, acquisition, mergers, contract, agreement and partnership to expand their business.
Key Benefits of the Report
- This study presents the analytical depiction of the cyanoacrylate adhesives industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the cyanoacrylate adhesives market share.
- The current market is quantitatively analyzed to highlight the cyanoacrylate adhesives market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed cyanoacrylate adhesives market analysis based on competitive intensity and how the competition will take shape in coming years
Key Market Segments
- By Type
- Alkoxy-Ethyl-Based
- Ethyl-Ester-Based
- Methyl-Ester-Based
- Others
- By End-User Industry
- Automotive
- Footwear and Leather
- Furniture
- Consumer Goods
- Healthcare
- Electronics
- Others
- By Region
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- North America
- Europe
- Germany
- UK
- France
- Italy
- Rest of Europe
- South America
- Brazil
- Argentina
- Rest of South America
- Middle-East and Africa
- Saudi Arabia
- South Africa
- Rest of Middle-East and Africa
Key Market Players
- Master Bond
- Henkel AG and Company
- Permabond Engineering Adhesives Ltd.
- Sika Corp.
- ITW Devcon
- Dow Corning Corporation
- Bostik SA
- Lord Corporation
- Adhesive System Inc.
- Super Glue Corporation.
- 3M Corporation