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Bioadhesives are the adhesives made from biological renewable sources such as plants and animals. These include glues produced by using biological intermediates such as starch, cellulose, and gelatin. Bioadhesives are being increasingly used for applications such as flexible packaging, specialty packaging, printed sheet lamination, and cigarettes and filters. The increasing demand for enviornment friendly products from consumers, is directing the manufacturers to produce bio-based products. Increasing preference towards sustainable packaging combined with rising awareness regarding bioadhesives in packaging industry will lead to the market growth.
The market for bioadhesives is driven due to the fluctuating prices of crude oil. Synthetic adhesives are derived from petroleum feedstocks and the constant variations and rise in the prices of oil has stimulated the interest in biological adhesives. Bioadhesives are derived from natural sources and are biocompatible, hence, they are prefered in various applications including medical applications. Therefore, the fluctuating prices of crude oil will drive the bioadhesives market.
Key Market Driver -
Fluctuating prices of crude oil
Key Market Restraint -
Shortcomings in performance of bioadhesives
The short comings in the performance of bioadhesives are expected to act as a market restraint for the global bioadhesives market. Conventional synthetic adhesives have shown better performance capabilities under diverse conditions ranging from temperature differences to providing adhesion between irregular surfaces. The limitation in performance capabilities of bioadhesives will act as the market restraint for the global bioadhesives market.
Based on source, the market for bioadhesives is segmented into plant based, and animal based. Based on application, the market is segmented into paper & packaging, personal care, construction, woodworking, medical, and others.
From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Some of the key players in the bioadhesives market includes, Henkel AG, Ingredion, LD Davis, Danimer Scientific, Arkema SA, EcoSynthetix Inc., Ashland Inc., DuPont, The Compound Company, CryoLife Inc., and other key players.
The bioadhesives market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is anticipated to witness rise in demand for bioadhesives due to the initiatives taken by the government organisations such as Environment Protection Agency (EPA) and Commision for Environmental Cooperation (CEC) to promote the use of bio-based adhesives. In Europe, regulations imposed by the government regarding synthetic adhesives will increase the demand for bioadhesives. Additionally, technological advancements to improve the performance of bioadhesives will drive the bioadhesive market further.
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Rising construction and renovation activities in Asia Pacific will be responsible for the growth of bioadhesive market. In Latin America, and the Middle East & Africa, the growth of bioadhesive market will be due to the increasing usage of bioadhesives in healthcare sector for drug delivery systems, and for applications which involve skin or tissues.
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