The global bio-based adhesives market is witnessing strong growth, due to the high growth of biotechnology industry, stringent environmental regulations for petrochemical-based adhesives, and the fluctuations in the prices of petro-based ingredients. Moreover, the increased number of end-use industries and technological advancements biotechnology sector are also supporting the growth in demand for bio-based adhesives across the globe. Among the various applications of bio-based adhesives, the packaging and paper segment held the largest share in the global market in 2015, and it is anticipated to retain its dominance during 2016 – 2022. The growth in demand for bio-based adhesives for packaging and paper application is attributed to the increasing compliance for bio-based and environment friendly products. The other key application segments of bio-based adhesives include construction, wood, personal care and medical. A high demand for bio-based adhesives is predicted in all these application segments during forecast period.
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The developing economies of Asia-Pacific and Latin America, such as India, China and Brazil, and increased research and development activities in the market would offer ample opportunities for the growth of the market. The key manufacturers of these adhesives may expand their geographical presence, as well as their product portfolio in emerging economies to exploit the revenue generation opportunities in these countries. The key trend witnessed in the market is the increasing number of collaborations for the research and development of these adhesives. However, the high competition from the substitute adhesives is anticipated to hinder the growth of the global market. Furthermore, the limited performance capabilities, in comparison to petrochemical-based adhesives and regulatory approvals for medical applications are the major challenges faced by the manufacturers of bio-based adhesives.
Geographically, Europe held the largest share in the global market in 2015, owing to the stringent environment regulations against petrochemical-based adhesives. Moreover, the availability of a large number of local manufacturers, increased initiatives for the development of bio-based adhesives and presence of a several end-user industry players in the region are anticipated to have significant positive impact on the growth of the European market. Germany and the Netherlands are the major markets for bio-based adhesives in the Europe.
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Some of the key players operating in the global market include Meredian Holdings Group Inc., Henkel AG & Co. KGaA, EcoSynthetix Inc., Paramelt B.V., The Dow Chemical Company, Ashland, 3M Company, Adhesives Research Inc., and Yparex B.V.
- Packaging and Paper
- Personal Care
- North America
- The Netherlands
- Rest of the World
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