The global bioadhesives market is expected to reach U.S. $65.1 billion by 2028, increasing rapidly owing to the population and environmentally friendly substitutes of synthetic adhesives. The global market was valued at $44.37 billion in 2020, according to a new report from ResearchAndMarkets.
Bioadhesives are natural polymers with an enclosed molecular composition that doesn’t allow infiltration between the binding and acts as biological intermediates. The primary use of the component is to make two surfaces stick together, which can’t be alienated easily.
The increasing awareness of environmental concerns has led to a paradigm shift towards bio-based products. To this end, governments across the globe are formulating policies supporting the role of bio-based products, thereby creating lucrative opportunities for the growth of the global bioadhesives market in the coming years.
There’s demand for bioadhesives — such as polyacrylic acid, cyanoacrylates, and chitosan — from diverse industries, which they use to produce desired goods. The primary application of bioadhesives is door and window assembly, construction material, vehicle parts, the HVAC industry, prefabricated houses, packaging, the woodwork industry, and other works.
The growing demand
Bioadhesives are highly demandable products by surgeons during surgeries as a replacement for surgical sutures. Bioadhesives are polymeric materials made up of sugar, gelatine, starch, and organic tissue to provide liquid adhesive-like properties that make them environment-friendly and effective medical adhesives.
According to the report published in 2022 by the National Centre for Biotechnology Information, USA, almost 310 million major surgeries are performed each year worldwide. As the number of chronic diseases and accidental cases is rising, the increasing trend is expected to propel the Bioadhesives market in the projected period.
The diverse use of bioadhesives in various end-user industries is expected to influence market growth positively. For instance, the global automotive industry is expected to reach 3.8 trillion US dollars from automobile sales by 2030. Therefore, rising demand for manufacturing of automobile parts — like joining seats, spoilers, tailgates, side skirts, bumpers, headlights, and dashboards — is expected to propel the market growth.
Besides these, the growing use of bio-based adhesives in construction activities as a substitute for oriented strand boards is further expected to support market growth. In the stationery and printing sector, polylactic acid (PLA), polyhydroxy alkenoate (PHA), starch, chitosan, and polysaccharides are used as barrier coatings on paper packaging applications.
All these factors are expected to propel the development of the bioadhesive market in the forecasted period.
Several firms are signing or collaborating with foreign firms to increase access to innovative products and technology. Mergers and acquisition support firms use the proficiency of each other firm and earn more revenue deprived of extra focus, time, and effort. The advancement in the biotechnology industries will encourage the utilization of naturally originated adhesives and provide solutions for climate change, environmental pollution, and scarcity of resources. These enhancements in the natural properties will propel the demand for bioadhesives in different industries.
Mergers & acquisitions
In 2022, Henkel AG completely acquired the Boston-based advanced materials start-up NBD Nanotechnologies Inc. This acquisition helps Henkel to fortify its presence in its adhesive technologies business unit in functional coatings. Through this acquisition, Henkel is planning to enhance fingerprint visibility for glass and impart stain repellency for plastics, textiles, and other materials.