According to the latest report by IMARC Group, titled “Bioadhesive Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global bioadhesive market size reached US$ 1985.3 Million in 2018. Bioadhesives are naturally occurring polymeric materials with adhesive properties. They also include glues that are manufactured using biological intermediates such as starch. Bioadhesives are widely utilized to bind materials together and resist their separation under any circumstances. They find extensive application in the healthcare industry as surgical bioadhesives, which act as an appropriate substitute for surgical sutures, and in the paper and packaging sector as a sustainable packaging solution.
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Global Bioadhesive Market Trends:
The market for bioadhesive is primarily driven by the numerous advantages associated with their utilization across diversified verticals. For instance, bioadhesives are widely employed in the healthcare industry, owing to their biocompatible properties. Some of their clinical applications include transdermal drug delivery, skin bonded monitoring devices, and wound care dressing. Furthermore, in industries such as paper and packaging, construction, and food, bioadhesives are preferred for their eco-friendly properties. With growing environmental consciousness and rising awareness regarding the adverse effects of synthetic adhesives, there is a growing inclination toward the use of bioadhesives across the globe. Moreover, stringent environmental regulations by governments of various countries, along with favorable efforts by both the private and public sectors for encouraging the use of bio-based products, are further creating a positive outlook for the market. On account of the aforementioned factors, the market is expected to reach a value of US$ 4282.9 Million by 2024, growing at a CAGR of 13.40% during 2019-2024.
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Insights on Market Segmentation:
Breakup by Type:
On the basis of type, the market has been divided into plant-based and animal-based bioadhesives.
Breakup by End-Use:
1. Paper and Packaging
4. Personal Care
Based on the end use, paper and packaging exhibit a clear dominance in the market. Other major segments include construction, wood, personal care, healthcare and others.
Breakup by Region:
2. North America
3. Asia Pacific
4. Middle East and Africa
5. Latin America
On the geographical front, Europe holds the leading position in the market. Other major regions include North America, Asia Pacific, Middle East and Africa, and Latin America.
The competitive landscape of the market has also been analyzed in the report, with the detailed profiles of the key players operating in the market. Some of these include Henkel Corporation, Dow Chemical Company, Ashland, Inc., Adhesives Research, Inc., and EcoSynthetix.
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