Bio-Based Adhesives Market Analysis and In-Depth Analysis on Market Dynamics, Emerging Trends, Growth Factors and Sales Forecast to 2024
On the basis of application, the bio-based adhesives market has been categorized into packaging and paper; construction; wood; personal care; and medical. Of these, packaging and paper accounted for a significant share in the market in 2017. Growing awareness about sustainable packaging solutions based on bio-based sources is propelling the market growth of this category. Bio-based adhesives are increasingly being employed as sustainable packaging solutions, such as cigarette filters, printed sheet laminations, and specialty and flexible packaging. Furthermore, these adhesives are being adopted in the medical industry in areas of transdermal drug delivery and wound care.
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The bio-based adhesives market is primarily driven by advancements in biotechnology, environmental regulations on petrochemical adhesives, and growth in the packaging industry. Technological innovations and research and development (R&D) in the biotechnology industry are expected to continue supporting the adoption of naturally sourced adhesives for packaging purposes. These adhesives are increasingly being adopted in the packaging industry for the manufacturing of rigid cardboard boxes, multi-layer films, tapes, and labels. These eco-friendly adhesives help improve the performance of the product in addition to its properties, such as durability and elasticity.
Based on region, the bio-based adhesives market has been categorized into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. Geographically, Europe held the largest share in the market in 2017. This can be attributed to the high demand for these adhesives in the packaging industry of various European countries, including Germany and the Netherlands. Europe and North America are important markets for naturally sourced adhesion agents. The market in these regions is driven by the growth in end-user industries, large-scale local manufacturing, and presence of a large number of domestic market players also operating in vertical segments, such as packaging and paper, construction, wood, and personal care.
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The bio-based adhesives market is majorly dominated by companies with diversified product portfolios comprising both natural and synthetic adhesive products. These companies develop products for generic and niche applications to maximize their product penetration in a wide array of industries. For instance, in 2017, BASF SE launched Ultramid Flex F38L, a bio-based polyamide adhesive for vacuum skin packaging.
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