Market Trends of Middle-East and Africa Cyanoacrylate Adhesives Industry
This section covers the major market trends shaping the MEA Cyanoacrylate Adhesives Market according to our research experts:
Healthcare Industry to Witness the Highest Growth Rate
- The number of surgeries performed in the Middle-East & Africa region witnessed significant growth in the past few years. Sutures, staples, and metallic grafts are an integral part of the surgery, and also the highest standard possible at present for wound closure.
- However, the pain and discomfort caused by these invasive techniques have led to an urgent need for the development of tissue adhesives for surgical settings.
- The ester form of cyanoacrylate, N-butyl-2-cyanoacrylate, is one of the adhesive components that have been widely used as a tissue adhesive in medical and veterinary applications for surgical wound closure and to close the wounds from cat declawing, etc.
- Cyanoacrylate adhesives even acquired the gold standard status in medical adhesives, which helped these adhesives to retain good market share in the medical adhesives market.
- Technological advancements in improving non-toxicity are driving the demand for cyanoacrylate adhesives market.
- Hence, owing to the above-mentioned reasons, healthcare industry is likely to witness the highest growth rate during the forecast period.
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Saudi Arabia to Dominate the Market
- Saudi Arabia accounts for the highest market share of the Middle-East and Africa Cyanoacrylate market currently owing to the high demand from its end-user industries.
- The market demand for cyanoacrylate adhesives in the country is majorly driven by expanding various industries such as electronics and furniture in the country.
- Although the electronics market in Saudi Arabia slowed down in the recent past, it has good market potential with the increasing population and demand for electronic goods, such as LED lights, LCD/LED screens for mobiles, laptops, televisions, and other appliances. This market arena is quite instrumental in boosting the market demand for methanol in the country over the forecast period.
- Furthermore, increasing usage in the medical application, such as dental and surgical adhesives, and rising standard of living is increasing the demand for home furnishings, which in turn, will offer numerous opportunities in the growth of the cyanoacrylate adhesives market, in the country.
- However, curfew has been called (for a brief period) for in the Kingdom in mid-March to tackle the growing COVID-19 cases in the Gulf region. This, along with the recent fall in the crude oil prices, is likely to leave an impact on the economic growth of the country in 2020, to some extent.
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