Usability, Demand Spurring Instant Adhesives Market Growth
The market is projected to grow from $1.57 billion in 2017 to $2.38 billion by 2022.
The instant adhesive market is projected to grow from $1.57 billion in 2017 to $2.38 billion by 2022, at a compound annual growth rate (CAGR) of 8.75% during the forecast period, according to the report "Instant Adhesive Market by Chemistry (cyanoacrylate, epoxy-based), Curing Process (conventional, light cured), Application (industrial, woodworking, transportation, consumer, medical, electronics), and Region-Global Forecasts to 2022" from Markets and Markets.
The usability of these adhesive in several end-use applications, coupled with the rising demand for instant adhesive, is estimated to boost the demand for instant adhesive in the near future. Properties such as fast curing speed, ease of use and excellent bonding strength reportedly make instant adhesive a preferred choice for applications where convenience and speed are required. These factors may have also propelled the use of instant adhesive in applications such as electronics and automotive.
The Asia-Pacific instant adhesive market is projected to grow at the highest CAGR during the forecast period. The report suggests that the growth of the Asia-Pacific instant adhesive market can be attributed to the rising demand for instant adhesive from emerging economies of the Asia-Pacific region, including India, China, South Korea, Vietnam, and Singapore, among others. Moreover, factors such as the improving standards of living and rising per capita income of the countries of the Asia-Pacific region are also fueling the growth of the Asia-Pacific instant adhesive market.
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