According to market research and competitive intelligence firm Fact.MR, the global instant adhesives market is expected to grow at a compound annual growth rate (CAGR) of 9.3% over the next ten years, reaching a valuation of US$ 6.5 billion by the end of 2033.
Instant adhesives are the common name for cyanoacrylate adhesives. They are room-temperature curing adhesives that come in a variety of viscosities and are renowned for their quick bonding and dependability. These high-performance bonding adhesives come in a variety of materials, such as rubber, metal, wood, plastic, and polystyrene.
Winning Strategy:
Instant adhesives are widely employed in a variety of end-use applications. Furthermore, one of the obvious factors propelling the market's expansion is advancements in adhesive technology that offer stronger bonds with a range of substrate types. Additionally, producers are working to comply with stringent environmental standards established by organisations and governments.
Among the notable characteristics that make these instant adhesives one of the most popular options among customers are safety regulations, superior bonding strength, simplicity of use, quick curing time, and product quality.
Key Takeaways from Market Study
- The global instant adhesives market is predicted to reach US$ 6.5 billion by 2033-end.
- The Canadian market is anticipated to evolve at a significant CAGR of 8.3% through 2033.
- The instant adhesives industry is worth US$ 2.7 billion in 2023.
- The market is projected to advance at a CAGR of 9.3% through 2033.
- Worldwide demand for instant adhesives in Germany is forecasted to progress at a noticeable CAGR of 6.3%.
Competitive Landscape
Prominent manufacturers of instant adhesives are investing at an increased rate in product innovation and advancements.
For instance :
- Henkel, in July 2019 announced to invest US$ 45 million for the upgradation of its Salisbury NC adhesive plant which is situated in North America. This newly upgraded facility will encompass a new area for UV acrylic adhesives that are applied for tape & label packaging. This investment aims to strengthen the company’s position in North America which holds around 25% of its entire sale.
However, toxicity, odor & whitening, inferior pliability, and impact resistance are some factors that can result in serious skin issues. In addition, the inability of these solutions to adhere to larger areas in a single stroke is projected to create challenges to market growth. However, the extensive use of instant adhesives in domestic operations, precision equipment, musical instruments, the automotive industry, and chemical machinery and equipment is projected to create lucrative growth opportunities in the global market.
View Full Report: https://www.globenewswire.com/news-release/2023/01/13/2588528/0/en/Demand-for-Instant-Adhesives-in-U-S-Market-Fueled-by-Rapid-Growth-in-Automotive-Industry-Fact-MR-Report.html
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