Market Research Report
Asia-Pacific Cyanoacrylate Adhesive Market - Segmented by Type, End-user Industry, and Geography - Growth, Trends, and Forecast (2018 - 2023)
|Published by||Mordor Intelligence LLP||Product code||641566|
|Published||Content info||116 Pages
Delivery time: 2-3 business days
|Asia-Pacific Cyanoacrylate Adhesive Market - Segmented by Type, End-user Industry, and Geography - Growth, Trends, and Forecast (2018 - 2023)|
|Published: May 8, 2018||Content info: 116 Pages||
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.
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.
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.
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.
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