Global Bioadhesive Market Overview 2017, Demand by Regions, Share and Forecast to 2022
The global bioadhesive market has witnessed a strong growth over the past few years.
The latest report by IMARC Group, titled “Bioadhesive Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2017-2022”, finds that the global bioadhesive market reached a value of more than US$ 1 Billion in 2016. Bioadhesives are natural polymers which are capable of gluing two surfaces, derived from either plants or animals. They may contain proteins or carbohydrates such as gelatin or starch which form the main gluing components. As bioadhesives are environment-friendly, they are considered as a common substitute for synthetic and epoxy adhesives which are derived from petroleum. Bioadhesives can further be categorized as natural, biological, biocompatible, biomimetic and bioinspired adhesives, depending on their source or application.
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Highlights of the global bioadhesive market:
Rising awareness among the consumers regarding the adverse effects of the synthetic products is the major driver for the market.
On the basis of application, the paper and packaging sector holds the majority of the market share.
Europe holds the majority of the global share, representing the largest market.
The market is majorly being driven by the biocompatible property of bioadhesives, owing to which, they are used for biomedical applications that involve skin and other body tissues. Apart from this, a shift towards bio-based products due to rising awareness among the consumers about the harmful effects of synthetic materials is stimulating the growth of the global bioadhesive market. In addition, a strong growth in the construction sector, particularly in the emerging countries such as China, India, Korea, etc., has contributed to an increasing demand for bioadhesives. Moreover, stringent policies by governments across various nations regarding environmental sustainability and usage of bio-based products are further anticipated to broaden the growth prospects of the market in the coming years. According to the report, the market is further anticipated to reach a value of around 3 Billion by 2022, growing at a CAGR of about 13% during 2017-2022.
The global bioadhesive market has been bifurcated on the basis of type into plant-based and animal-based bioadhesives. On the basis of end-use, the paper and packaging sector accounts for the majority of the global share. It is followed by the construction, wood, personal care and healthcare sectors. Region-wise, Europe exhibits a clear dominance in the market, followed by North America, Asia Pacific, Middle East and Africa, and Latin America. On analysing the competitive landscape, it is found that the key players operating in the market include Henkel Corporation, Dow Chemical Company, Ashland, Inc., Adhesives Research, Inc., and EcoSynthetix.
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The report has examined the global bioadhesive market on the basis of:
Paper and Packaging
Adhesives Research, Inc.
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