The Latest Cyanoacrylate Adhesives Industry Statistics Explained
The market is projected to expand at a compound annual growth rate (CAGR) of 6.6% from 2021 to 2028.
This statistic indicates that the market is expected to grow steadily at an annualized rate of 6.6% between the years 2021 and 2028. The compound annual growth rate (CAGR) provides a smooth representation of the market’s growth trajectory over the specified time period, taking into account the compounding effect of each year’s growth on the previous year. This projection suggests that the market is anticipated to experience consistent expansion over the 7-year period, with the percentage growth rate applied to the initial market size to estimate its expected size by the end of 2028. This statistic can be valuable for businesses and investors in forecasting market trends, making strategic decisions, and assessing potential opportunities for growth within the market.
Asia Pacific region is predicted to be the fastest-growing regional segment with a CAGR of 7.8%.
This statistic indicates that the Asia Pacific region is expected to experience the highest rate of growth compared to other regions, with a Compound Annual Growth Rate (CAGR) of 7.8%. This suggests that the economies within the Asia Pacific region are forecasted to expand rapidly over a specific period, likely due to factors such as increasing investments, favorable government policies, technological advancements, and a growing consumer base. The robust growth projected for the Asia Pacific region implies significant business opportunities and market potential for companies operating in this region, making it an attractive area for investment and expansion strategies.
The industrial assembly segment accounted for 26.3% of the total market share in 2020.
The statistic ‘The industrial assembly segment accounted for 26.3% of the total market share in 2020’ indicates that within the market being analyzed, the industrial assembly industry held a significant portion of the market share at 26.3% in 2020. This means that a considerable proportion of products or services being traded in that market belonged to the industrial assembly segment. Understanding this statistic is crucial for market analysts and stakeholders as it helps in assessing the industry’s competitiveness, market trends, and potential growth opportunities within the industrial assembly sector. It also provides insights into the market dynamics and the relative positions of different segments in driving overall market performance.
North America cyanoacrylate adhesives market was valued at over USD 60 million in 2019.
The statistic stating that the North America cyanoacrylate adhesives market was valued at over USD 60 million in 2019 indicates the total monetary worth of the market for these adhesive products within the North American region during that specific year. This value reflects the combined sales and revenue generated from the buying and selling of cyanoacrylate adhesives, which are known for their quick-drying and strong bonding properties. The figure of USD 60 million highlights the economic significance and demand for cyanoacrylate adhesives within the North American market in 2019, showcasing the importance of these products in various industries such as manufacturing, construction, automotive, and household consumer use.
U.S. dominated the North America cyanoacrylate adhesives market size in 2019.
The statistic “U.S. dominated the North America cyanoacrylate adhesives market size in 2019” indicates that in the year 2019, the United States held a significant share of the cyanoacrylate adhesives market within the North American region. This suggests that the U.S. had a strong presence and influence in terms of production, consumption, and overall market activity related to cyanoacrylate adhesives compared to other countries in North America for that specific year. Factors such as innovation, demand, and production capacity may have contributed to the U.S.’s dominant position in this particular market segment during 2019.
The general adhesives application segment accounted for the major market share of 35%, as of 2020.
The statistic indicates that, in 2020, the general adhesives application segment held the largest portion of the market compared to other application segments within the adhesive industry, capturing 35% of the total market share. This suggests that general adhesive products, which are used in a wide range of applications such as construction, automotive, packaging, and consumer goods, were in high demand and generated significant revenue for companies operating in this sector. The dominance of the general adhesives segment implies that it played a crucial role in driving the overall growth and competitiveness of the adhesive market during the specified time period.
The cyanoacrylate adhesive market for paper & packaging application is project to be the fastest-growing with an expected CAGR of 7.5% by 2026.
This statistic indicates that the cyanoacrylate adhesive market, specifically for paper and packaging applications, is forecasted to experience significant growth with a compound annual growth rate (CAGR) of 7.5% projected by the year 2026. This suggests that there is a growing demand for cyanoacrylate adhesives within the paper and packaging industry, likely driven by factors such as increasing use in packaging materials, paper products, and other related applications. The substantial CAGR implies a strong potential for market expansion and highlights the attractiveness of this sector for investors, manufacturers, and other stakeholders looking to capitalize on the growing demand for cyanoacrylate adhesives in paper and packaging applications.
China and India together accounted for over 50% of the global cyanoacrylate adhesives demand in 2019.
The statistic means that in 2019, the combined demand for cyanoacrylate adhesives from China and India accounted for more than half of the total global demand for this type of adhesive. This indicates that both China and India are significant consumers of cyanoacrylate adhesives, likely due to the presence of various industries in these countries that use such adhesives in manufacturing processes. The high demand from these two countries suggests that they play a crucial role in the global market for cyanoacrylate adhesives, potentially influencing pricing, production, and availability of these adhesives worldwide.
The automotive segment is predicted to reach over USD 75 million by 2026.
The statistic indicates that, according to predictions, the automotive industry is expected to experience significant growth and generate revenues surpassing USD 75 million by the year 2026. This forecast suggests a positive outlook for the automotive sector, projecting an increase in market demand, sales, and overall economic activity within the industry. The figure serves as a key indicator of the potential expansion and profitability of the automotive segment in the coming years, highlighting opportunities for businesses, investors, and stakeholders to capitalize on this growth trend.
The medical segment was recorded with a substantial share of 18% market share in 2020.
In 2020, the medical segment accounted for a considerable portion of the overall market, capturing an 18% share. This statistic indicates that the medical industry held a significant position within the market landscape, suggesting that a notable portion of the resources, investments, and consumer spending were directed towards medical products or services. The substantial market share held by the medical segment in 2020 highlights its importance and influence within the market, emphasizing its role in driving economic activity and shaping industry trends during that period.
Organic cyanoacrylate segment accounted for 78% of the total market volume in 2019.
The statistic indicates that in 2019, the segment of the market composed of organic cyanoacrylate products made up 78% of the total market volume. This suggests that organic cyanoacrylate products were highly popular and in-demand among consumers compared to other types of products within the market. The significant market share held by organic cyanoacrylate products indicates a market trend towards preferring these types of products, potentially due to their quality, effectiveness, or other features that set them apart from competitors. The data highlights the dominance and importance of organic cyanoacrylate products within the market landscape during the specified time period.
The commercial segment is estimated to register a revenue of around USD 109.8 million by 2026.
The statistic “The commercial segment is estimated to register a revenue of around USD 109.8 million by 2026” indicates that within the commercial sector, it is projected that the total revenue generated will reach approximately $109.8 million by the year 2026. This statistic suggests a forecast of the expected financial performance within the commercial industry, likely encompassing various businesses, companies, or enterprises operating in this specific segment. Such estimates are important for financial planning, investment decisions, market analysis, and overall business strategy for stakeholders within the commercial sector.
References
0. – https://www.www.statista.com
1. – https://www.www.researchdive.com
2. – https://www.www.gminsights.com
3. – https://www.www.prnewswire.com
4. – https://www.www.grandviewresearch.com
5. – https://www.www.globenewswire.com
