Bio-Based Adhesives Market Overview
Increasing awareness on the benefits of biologically sourced adhesives, coupled with advancements in biotechnology and growth in the packaging industry, is driving their adoption in various industries across the globe. Bio-based adhesives are naturally sourced polymeric materials that can act as adhesion agents. These chemicals can be synthesized using plant and animal sources as raw materials. In the report, the bio-based adhesives market has been segmented on the basis of type, application, and region.
Based on type, the bio-based adhesives market has been classified into plant-based and animal-based adhesives. Historically, plant-based adhesives held the larger share in the market, owing to the low cost of processing these adhesives and the abundant availability of plant-sourced raw materials, such as soy, corn, and starch.
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.
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.
Bio-Based Adhesives Market Dynamics
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.
Furthermore, stringent government regulations on the use of petrochemical-based derivatives are encouraging their substitution by naturally sourced products, which, in turn, is positively impacting the growth of the bio-based adhesives market. Additionally, increasing disposable income is resulting in the high demand for personal care and wood-based products, which, in turn, is fueling the demand for bio-based adhesion products, globally.
The bio-based adhesives market is primarily hindered by the low adoption of biologically sourced adhesion materials in certain industries, owing to the low shelf life of these materials and their high substitution by conventional adhesives in the market.
Advancements in manufacturing technology and R&D aimed at improving the mechanical and chemical properties of naturally sourced adhesives are resulting in the development of niche products, thus offering ample growth opportunities to the players operating in the bio-based adhesives market.
Bio-Based Adhesives Competitive Landscape
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.
Some of the other major players operating in the global bio-based adhesives market are Meredian Holdings Group Inc., Henkel AG & Co. KGaA, EcoSynthetix Inc., Paramelt B.V., DowDuPont, Ashland Inc., 3M Company, Adhesives Research Inc., and Yparex B.V.
The study provides the historical as well the forecast market size data for various countries, including the U.S., Canada, France, Germany, the U.K., Italy, Spain, Japan, China, India, Brazil, Saudi Arabia, and South Africa.