Newark, June 20, 2022 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, the global bioadhesive market is expected to grow from USD 5.3 billion in 2021 to USD 12.6 billion by 2030, at a CAGR of 10.1% during the forecast period 2022-2030.
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Bioadhesives are now more common due to their eco-friendly nature and are currently preferred over synthetic adhesives. The adhesives are utilized in various end-use enterprises, including packaging & paper, medicine, manufacturing, and wood. A different group of applications is pushing the global bioadhesives market. Public awareness of synthetic materials' adverse effects and the choice of natural products has resulted in the improved need for bioadhesives. The bioadhesives market has expanded immensely due to manufacturers investments in biotechnology and innovation and increased demand for bioadhesives in various applications. Similarly, government rules to save the environment and promote bio-based products have helped the market growth. Also, the manufacturers have started presenting innovative bioadhesive products. Additional factors pushing the global bioadhesives market growth possess cutting-edge end-use industry development, a rise in R&D, and high investment.
Competitive Strategy
To enhance their market position in the global bioadhesive market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
A group of researchers from Waseda University (Tokyo, Japan), the National Defense Faculty of Medicine (Tokorozawa, Japan), and the Japan Science and Technology Agency (Saitama, Japan) created a bioadhesive electroluminescent device with wireless power that could enhance the treatment of diseases like cancer.
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Market Growth & Trends
The rising applications of bioadhesives around different end-use industries describe the primary elements pushing market development. For example, in the healthcare industry, bioadhesives substitute conventional invasive wound closure techniques, such as staples, surgical sutures, and wires, due to their antioxidant, anti-inflammatory, antibacterial, better wound recovery, and leakage defense effects. And they are also utilized for skin-bonded monitoring apparatuses, transdermal drug delivery, and wound care dressing. Further, with the rising environmental consciousness among the groups, there has been a substantial change toward bio-based products. The overall adoption of bioadhesives for flexible packaging, printed sheets lamination, specialty packaging, and cigarettes and filters increases the product need.
Also, the execution of strict rules regarding synthetic adhesives and various promising steps undertaken by the government of multiple nations to encourage the use of eco-friendly products are driving market growth. Similarly, the top players majorly invest in research and development activities to establish creative bioadhesive variants to develop their product portfolio and allure more consumers. Additional elements, including the rising demand for sustainable packaging, easy availability of raw materials, the increasing popularity of plant-based adhesives, and growing construction and renovation exercises, also form a clear market perspective.
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Key Findings
• In 2021, the paper & packaging segment dominated the market with the largest market share of 25% and market revenue of 1.32 billion.
The application segment is divided into construction, paper& packaging, personal care, woodworking, and medical. In 2021, the paper & packaging segment dominated the market with the largest market share of 25% and market revenue of 1.32 billion. Bioadhesives discover broad applications such as cigarettes and filters, printed sheets lamination, flexible packaging, and special packaging. The rising paper & packaging enterprise in arising markets of the Asia Pacific and Latin America is anticipated to boost segment growth over the projection years.
• In 2021, the plant-based segment dominated the market with the largest market share of 62% and market revenue of 3.2 billion.
The type segment is divided animal-based & plant-based. In 2021, the plant-based segment dominated the market with the largest market share of 62% and market revenue of 3.2 billion. Corn, starch, soy, and maize-based adhesives are acquiring popularity due to ample raw material availability and lower prices. Raising customer choice for bio-based products is anticipated to cause high demand for plant-based product variants.
Regional Segment Analysis of the Bioadhesive Market
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
Among all regions, the Europe region emerged as the largest market for the global bioadhesive market, with a market share of around 34.5% and 1.82 billion of the market revenue in 2021. The presence of well-established technological cutting-edge infrastructure pushes the market need in the region.. North America is the second-largest region as it maintains a significant market share value globally due to the primary key players driving the market needs.
The government's growing investments in research and development also propel the market growth. Increasing demand for personal care is an additional factor that creates more demand.
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Key players operating in the global bioadhesive market are:
• 3M Company
• Adhbio
• Adhesives Research
• Ashland Inc.
• Bioadhesive Alliance Inc.
• Camurus
• EcoSynthetix Inc.
• Henkel Corporation
• Yparex B.V.
This study forecasts revenue at global, regional, and country levels from 2019 to 2030. The Brainy Insights has segmented the global bioadhesive market based on the below-mentioned segments:
Global Bioadhesive Market by Application:
• Construction
• Paper & Packaging
• Personal Care
• Woodworking
• Medical
Global Bioadhesive Market by Type:
• Animal- based
• Plant- based
About the report:
The global bioadhesive market is analyzed based on value (USD Billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirement whether they are looking to expand or planning to launch a new product in the global market.
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