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The bioadhesive market share is expected to increase by USD 1.56 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 13.14%.
This bioadhesive market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers bioadhesive market segmentation by product (plant-based adhesives and animal-based adhesives) and geography (Europe, North America, APAC, South America, and MEA). The bioadhesive market report also offers information on several market vendors, including 3M Co., Arkema SA, Beardow & Adams (Adhesives) Ltd., Bio Adhesive Alliance Inc., Cargill Inc., Coöperatie AVEBE UA, Danimer Scientific, Henkel AG & Co. KGaA, Ingredion Inc., and LD Davis Industries Inc. among others.
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The increasing demand for bio-based hot-melt adhesives in APAC is notably driving the bioadhesive market growth, although factors such as limitations of bioadhesive may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the bioadhesive industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Bioadhesive Market Driver
Increasing demand for bio-based hot-melt adhesives in APAC is a major driver fueling the bioadhesive market growth. Some points which work as a helping hand to the growth of the hot-melt adhesive market in China and India are the absence of government policies related to the non-usage of high volatile organic compound adhesives. Following the regulations imposed by EPA and Registration, Evaluation, Authorisation, and Restriction of Chemicals (REACH), many players have emerged in the market with innovative products. Few other developmental strategies followed by market players include collaborations and entering into agreements for enhancing their distribution chain in growing economies. The increasing demand for bio-based hot-melt adhesives is also boosted by the availability of these adhesives not only for industrial purposes but also for consumers. End customers mainly use it for personal purposes such as repairing, decorating, and other do-it-yourself (DIY) projects. The growth of the retail segment has improved the availability of numerous products, including bio-based hot-melt adhesives, which were previously only available for industrial uses. In 2016, the retail market in India was valued at approximately $700 billion. Of the overall value, the organized retail segment accounted for only about 10.71% of the market. However, there are certain roadblocks, including lagging awareness about hot-melt adhesives in developing nations. Therefore, the market penetration for this segment is quite low despite India and China being the two largest consumer markets globally.
Key Bioadhesive Market Trend
The adoption of bioadhesives in medical and personal hygiene products is a major trend influencing the bioadhesive market growth. The use of bioadhesives in medical products is a significant application as the adhesive surface is directly applied to the human body and, therefore, the products should be of good quality and preferably non-toxic. Bioadhesives are widely used in plasters, band-aids, poultices, and surgical tapes. They are also used in wound dressings, electrodes, and transdermal patches. In hygiene products, bioadhesives are predominantly used in sanitary napkins and panty liners, incontinence pads, baby diapers, and feminine care products. The increasing concern about hygiene is one of the key growth factors for this application segment. The global baby diaper market is expected to post a CAGR of 4%-6% during the forecast period. A high level of cleanliness should be maintained during the manufacturing and packaging of hygiene products. These products have to pass several regulatory parameters before introduction into the market. Therefore, bioadhesives are used in hygiene applications.
Key Bioadhesive Market Challenge
Limitations of bioadhesives are a major hindrance to the bioadhesive market growth. Certain natural adhesives that are completely derived from bio-based raw materials possess low resistance at high temperatures compared with synthetic adhesives. To increase the resistance of bioadhesive to water, heat, and chemicals, a small proportion of synthetic substances are added to natural products during the manufacturing stage. For instance, several nanomaterials are added to bioadhesives to improve their water-resistance capacity. The strength of certain bioadhesives, such as the conventional hide glue, is extremely low and, thus, cannot be used in many applications. This can limit their adoption rate in applications that require excellent adhesion and elasticity. Bioadhesives that are generally derived from plants and animals have a low shelf life. Compared with synthetic adhesives, bioadhesives decompose faster and, thus, cannot be stored in liquid form. Thus, it is highly essential to store and transport bio-based adhesives for extended durations. It increases the inventory cost as well as the maintenance cost. Owing to the reduced shelf-life of bio-based adhesives, there is a possibility for industries and consumers to switch to synthetic adhesives. This will hamper the growth of the market during the forecast period.
This bioadhesive market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
Technavio categorizes the global bioadhesive market as a part of the global specialty chemicals market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the bioadhesive market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the bioadhesive market encompasses successful business strategies deployed by the key vendors. The bioadhesive market is concentrated and the vendors are deploying growth strategies such as organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The bioadhesive market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the bioadhesive market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of the global specialty chemicals market includes the following core components:
The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Product
6 Customer landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
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