The use of bioadhesive applications are significantly increasing in the end-use industry markets, although they have different characteristics depending on their application requirements. Bioadhesive materials cover a broad range and include any natural or synthetic substance that can adhere to a biological substrate and is capable of being retained on that surface.
The growth of the global bioadhesives market is driven by many factors, such as increasing awareness about sustainability and greener products and shift in consumer preferences toward environmentally-friendly products.
The global chemical market is investing in the production of innovative bio-based chemicals and pushing manufacturers to create VOC-free products.
According to the new market research report by MarketsandMarkets, entitled Bioadhesives Market by Type, the global market size is projected to grow from U.S.$6.0 billion to $9.7 billion by 2025 — at a CAGR of 10.0%, during the forecasted period.
The North American region is expected to dominate the global bioadhesive market with its growing demand in different application segments, particularly in the sectors of packaging and paper, as well as construction. In fact, there’s a growing demand for more sustainable buildings, which provides an opportunity for the development of bioadhesive solutions. Green adhesive solutions are made from bio-based, renewable, recycled, remanufactured, or biodegradable materials.
The plant-based segment is expected to account for the larger share of the market. Plant-based adhesives are natural adhesives that are derived from organic sources, such as soy protein, starch (dextrin), and lignin. They are also referred to as green, sustainable, or environmentally-friendly bio-based adhesives. These types find a wide range of applications in varied industries, such as in woodworking, packaging, and construction.
The medical segment is estimated to be the fastest-growing application industry in the market. The demand for healthcare products and services has greatly due to the rise in awareness regarding about the benefits of bio-based products.
For example, these adhesives are incorporated in healthcare product formulations to be used in drug delivery systems, which allow absorption of drugs to biological elements (such as body tissues). Bioadhesives are compatible for use in biomedical applications, which involve skin or body tissue. This increase in use of bioadhesives in the medical segment is expected to drive the market over the next five years.
Major players operating in the global bioadhesive market include Henkel AG & Company, DuPont de Nemours, Inc., Ashland Global Holdings Inc., Beardow Adams Group, Paramelt BV, Ingredion Incorporated, and others.
To learn more and download the report, click here.