Market Size of europe cyanoacrylate adhesives Industry
| Icons | Lable | Value |
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Study Period | 2017 - 2028 |
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Market Size (2024) | USD 743.16 Million |
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Market Size (2028) | USD 911.23 Million |
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Largest Share by End User Industry | Healthcare |
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CAGR (2024 - 2028) | 5.23 % |
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Largest Share by Country | Germany |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
Europe Cyanoacrylate Adhesives Market Analysis
The Europe Cyanoacrylate Adhesives Market size is estimated at 743.16 million USD in 2024, and is expected to reach 911.23 million USD by 2028, growing at a CAGR of 5.23% during the forecast period (2024-2028).
743.16 Million
Market Size in 2024 (USD)
911.23 Million
Market Size in 2028 (USD)
4.30 %
CAGR (2017-2023)
5.23 %
CAGR (2024-2028)
Largest Market by End-user Industry
33.05 %
value share, Healthcare, 2023
Healthcare is the dominant end-user industry in the market owing to the wide range of applications in surgical and medical device production.
Largest Market by Technology
77.47 %
value share, Reactive, 2023
Reactive is the largest technology type in the market owing to its wide range of applications across major end-user industries, including automotive, healthcare, and woodworking and joinery.
Largest Market by Country
23.84 %
value share, Germany, 2023
In Europe, Germany had the highest market share owing to the strong presence of manufacturers in the country's automotive, healthcare, and woodworking and joinery industries.
Fastest Growing Market by Country
5.64 %
Projected CAGR, France, 2024-2028
Due to the increasing healthcare expenditure along with rising demand for electric vehicles, France is forecasted to be the fastest-growing country in the market.
Leading Market Player
41.57 %
market share, Henkel AG & Co. KGaA, 2021
Henkel has been witnessed as the leading cyanoacrylate adhesives manufacturer in the region. This can be attributed to the popularity of its products in widespread industries, including automotive and healthcare.
Demand for cyanoacrylate adhesives based on reactive technology in aerospace to lead in growth rate in Europe
- Europe has a large manufacturing base and well-established export networks. Healthcare, aerospace, automotive, building and construction, and marine are among the few well-established industries in the region which have collectively generated steady demand for cyanoacrylate adhesives from 2017 to 2019. Countries like Germany, France, and The United Kingdom have occupied a larger share of the demand generated for cyanoacrylate adhesives from the Europe region.
- In 2020, the demand for cyanoacrylate adhesives declined by 11.24% compared to the 2019 levels because of the covid-19 pandemic. Operational, trade and supply chain restrictions have forced industries like automotive, aerospace, and others to have production cuts. This has negatively affected the demand for cyanoacrylate adhesives from the region during this period.
- Among all regions, European automotive, aerospace and woodworking and joinery, and other industries are heavily engaged in R&D activities. All Industries in the region are focusing on reducing their carbon footprint to achieve a net zero emissions goal by 2050. Industries like automotive and aerospace, where fuel efficiency and weight reduction play an important role, might witness a surge in demand for cyanoacrylate adhesives during the forecast period. Among all countries in Europe, France is expected to witness the highest growth in the demand for cyanoacrylate adhesives, with a CAGR of 6.27% during the forecast period (2022-2028).
- Healthcare occupies the largest share of the demand for cyanoacrylate adhesives because of the large number of applications. However, the growth in demand for cyanoacrylate adhesives with reactive technology from the aerospace end-user industry is expected to be with the highest CAGR of 6.95% in 2022-2028.
Understand The Key Trends Shaping This Market
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Developments in the aerospace industry across the European countries to have boost the market's growth the most
- Cyanoacrylate adhesives help in the reduction of assembly times and are consumed mainly in the healthcare industry. The healthcare industry consumes around 37,362 tons of adhesives in Europe, which accounted for 36.21% of the European cyanoacrylate adhesives market in 2021. These adhesives are used to manufacture disposable medical devices and other healthcare applications.
- Germany is the largest consumer of cyanoacrylate adhesives in Europe. In 2021, around 40% of these adhesives were used in the healthcare industry of Germany, which is the third largest healthcare industry globally. In 2021, the healthcare expenditure in the country was around USD 792 billion and contributed nearly 12% of the country's GDP. In the same year, the exports of medical devices by the country increased by 11.85%. Such rising demand from the healthcare industry in the country is expected to drive the demand for cyanoacrylate adhesives over the coming years.
- Aerospace is the fastest-growing end-user industry in the consumption of cyanoacrylate adhesives in Europe and is expected to record a CAGR of 7.24% during the forecast period 2022-2028. Germany's aerospace industry is driven by technological innovation, and around EUR 2.5 billion was spent on research and development in 2021. In France, Airbus announced plans to increase production speeds and capacity from 40 aircraft per month in 2021 to 64 per month in 2023 and as many as 70 per month by early 2024. These abovementioned factors are expected to boost the demand for cyanoacrylate adhesives over the coming years in Europe.
- Reactive cyanoacrylate adhesives are primarily consumed in Europe and accounted for 75% of the total cyanoacrylate demand in 2021. Their demand is expected to grow further over the forecast period.
