By the end of 2033, the global instant adhesives market is expected to have grown at a compound annual growth rate (CAGR) of 9.3% from its 2023 estimate of US$2.7 billion to US$ 6.5 billion.
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.
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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
- 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.
Winning Strategy
Instant adhesives are used at a significant rate across different end-use applications. Moreover, improvements in adhesive technology to provide improved bond strength with various substrate types serve as one of the noticeable drivers for market growth. In addition, manufacturers are putting efforts to meet strict environmental regulations that have been laid down by governments and organizations.
Safety standards, excellent bonding strength, ease of use, fast curing speed, and product quality are some noteworthy features that make these instant adhesives one of the most commonly preferred choices among consumers.
Old Source: 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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