Market Research Report
Europe Cyanoacrylate Adhesive Market - Segmented by Type, End-user Industry, and Geography - Growth, Trends, and Forecast (2018 - 2023)
|Published by||Mordor Intelligence LLP||Product code||641567|
|Published||Content info||106 Pages
Delivery time: 2-3 business days
|Europe Cyanoacrylate Adhesive Market - Segmented by Type, End-user Industry, and Geography - Growth, Trends, and Forecast (2018 - 2023)|
|Published: May 8, 2018||Content info: 106 Pages||
The Europe cyanoacrylate adhesives market is expected to register a moderate CAGR during the forecast period (2018 - 2023). The major factors driving the market are the growing demand from the automotive industry and the growth in the electronics industry. However, stringent regulation regarding VOC emissions is expected to hinder the market growth.
In Europe, Germany is the largest producer of electronics and the market is expected to expand during the forecast period due to the growing demand for more innovative and technological advanced products in the industry. Furthermore, the German industrial electronics production accounts for approximately 50% of the total European output. The production in the electrical & electronics industry in the country was estimated to have increased by 4.7% in terms of the real industry output, in 2017. In the United Kingdoms, the value of electronics production rose by 3.7% in 2016, with expected growth in the coming years. In Italy, the electronics production increased by 1.8% in the first quarter of 2017, with the positive growth continuing in the next three quarters. Such positive growth is expected to drive the market for cyanoacrylate adhesives in the electronics industry through the forecast period.
Germany leads the European automotive market with 41 assembly and engine production plants that account for one-third of the total automobile production in Europe. France was a pioneer in the automotive industry. It was the eleventh-largest automobile manufacturer in the world in 2016 in terms of the unit production, and it was the third-largest in Europe. Supported by government policies in the country, France is expected to attract huge foreign investments in the automotive sector. The total vehicle market, which includes passenger cars, light, and heavy commercial vehicles, increased by 6.5% in 2017 to 2,227,000 vehicles. Moreover, the huge growth in the automotive industry is witnessed in many countries, like Russia, Netherlands, Portugal, and Sweden, which will contribute to the demand for cyanoacrylate adhesives in the region.
In 2017, Germany accounted the largest market for cyanoacrylate adhesives market. The market demand for cyanoacrylate is majorly driven by the rapid continued growth in the automotive and electronics industry. Furthermore, the rising demand for furniture due to the growth in the new residential constructions will further add to the demand for these adhesives and provide numerous opportunities in the growth of the cyanoacrylate adhesives market in the country.
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