The global bioadhesives market size is expected to reach USD 11.14 billion by 2028 according to a new study by Polaris Market Research. The report “Bioadhesives Market Share, Size, Trends, Industry Analysis Report, By Type (Plant-based, Animal-based); By End-Use (Personal Care, Medical, Paper & Packaging, Construction, Others); By Region; Segment Forecast, 2021 - 2028” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The demand for bioadhesives is expected to increase during the forecast period due to rising consumer awareness regarding the use of sustainable products, growing environmental pollution, and the introduction of stringent government regulations. The increasing adoption of the product results from stable raw material supply and price, global environmental issues, and modifying buying habits of consumers.
However, the industry has been affected by the COVID-19 outbreak. It has experienced operational challenges, workforce impairment, and disruption of the supply chain. Industries such as construction, packaging, and woodworking have experienced a decline during the pandemic, thereby hampering the market growth.
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Growing environmental concerns and increasing use of sustainable products have resulted in high demand for plant-based type. Plant-based type involve using low-cost raw materials such as forestry and agricultural waste, resulting in low environmental emissions. These adhesives have a low environmental footprint and are increasingly being used in diverse applications.
The industry is segmented into personal care, medical, paper & packaging, construction, and others, based on the end-use. The paper and packaging segment accounted for a major share in the global industry. Increasing awareness regarding the use of sustainable packaging solutions, growing consumption of convenience, and on-the-go meals have boosted the growth in this segment.
Rising disposable incomes and a growing middle class have characterized emerging economies. Consumers in emerging markets have shown greater nutritional awareness and interest in wellness foods, which, combined with increased demand for environmentally friendly packaging, drives the use of bioadhesives.
Growing environmental concerns and compliance with government norms and regulations drive the industry growth for bioadhesives. Brands operating in the industry are introducing new products and leveraging advanced technologies to offer sustainable and eco-friendly solutions.
Some of the major industry participants in the industry include Arkema S.A., Merck KGaA, Beardow Adams Group, Jowat SE, DuPont de Nemours, Inc., Ingredion Incorporated, Tate & Lyle PLC, Bioadhesive Alliance Inc., Henkel AG & Company, CryoLife Inc., Paramelt BV, Everis Group, EcoSynthetix Inc., Ashland Global Holdings Inc., and Columbia Laboratories, Inc.
Polaris Market Research has segmented the bioadhesives market report on the basis of type, end-use, and region:
Bioadhesives, Type Outlook (Revenue, USD Billion, 2016 - 2028)
Bioadhesives, End-Use Outlook (Revenue, USD Billion, 2016 - 2028)
Bioadhesives, Regional Outlook (Revenue, USD Billion, 2016 - 2028)