The market for bio-based adhesives is expected to grow at a CAGR of more than 4% over the forecast period. One of the major factors driving the market studied is stringent regulations for conventional adhesives in the United States.
New York, Nov. 03, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Bio-based Adhesives Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)" - https://www.reportlinker.com/p06360532/?utm_source=GNW
However, low shelf life and performance hindrance of bio-based additives in comparison to petroleum-based additives is likely to hinder the market growth.
The increasing demand from the packaging sector is likely to boost the demand for the bio-based additives during the forecast period.
Growing modular construction activities are likely to provide growth opportunities for the market in the near future.
Europe dominated the bio-based adhesives market across the world, and is likely to witness the highest growth rate during the forecast period.
Key Market Trends
Paper, Board, and, Packaging Industry to Dominate the Market
An extremely high proportion of all industrial products are sold in packaged form, either due to stability requirements for storage and transport, or for aesthetic reasons. Most of the packaging materials currently being used are made from the combination of different materials laminated together with the help of adhesives.
Applications of bio-based adhesives range from corrugated box construction and lamination of printed sheets to packaging materials used for all types of consumer products.
The improvement in living standards and higher purchasing incomes, especially in eastern European and North American countries, has increased the demand for a broad range of products, all of which require packaging. Therefore, the demand for packaging has, in turn, increased the consumption of bio-based adhesives.
The biggest market for bio-based adhesives in the global scenario has been the paper, board, and packaging segment, and the packaging segment represents the fastest-growing end-user segment. Europe is the second-largest market for packaging in the world, after Asia-Pacific.
Another factor contributing to the potential demand for bio-based adhesives within the packaging is the traditionally low levels of automation, which causes many packaging producers to use alternate forms of adhesives.
Hence paper, board, and packaging industry are likely to dominate the market.
Europe to dominate the market
Europe dominated the bio-based adhesives market owing to the high demand from countries like Germany.
Germany is the major consumer of bio-based adhesives in the European region, with many major companies having their presence in the country.
Germany is a major producer of natural rubber- and starch-based adhesives in the global scenario.
The increase in the production of bio-succinic acid in Germany has supported the production of bio-based label adhesives that are based on bio-succinic acid.
In Italy, the market for modular construction is expected to increase at a significant rate during the forecast period, with an increase in residential construction activities and various institutional projects.
Hence, Europe is likely to dominate the bio-based adhesives market and is expected to witness the highest market share during the forecast period.
The global bio-based adhesives market is fragmented, with high competition among the key players. Major players operating in the market include Henkel AG & Co. KGaA, Arkema Group (Bostik SA), H.B. Fuller, Ashland and 3M, among others.
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