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Bioadhesives Market to Reach USD 5.3 Bn by 2030: MSG

Published on 2022-05-27. Edited By : SpecialChem

TAGS:  Sustainability / Natural Adhesives    

Bioadhesives Market to Reach USD 5.3 Bn by 2030Market Statsville Group (MSG) anticipates that the global bioadhesives market size was valued at USD 3.8 billion in 2021 and is anticipated to reach USD 5.3 billion by 2030, registering a CAGR of 4.4% from 2022-2030. The bioadhesives market has grown in recent years as they are environment-friendly and made from renewable materials instead of synthetic adhesives.

Increase Demand for Bioadhesives

Bioadhesives are in higher demand as customers have become more conscious of the negative effects of synthetic materials and their changing preference for natural products. Moreover, strict government regulations for environmental production and encouragement of biologically derived products have aided the market's development. This has prompted manufacturers to develop innovative bioadhesive materials.

Other factors driving the market growth of bioadhesives market include a rise in R&D, expansion of end-use industries, and increased investment. The global bioadhesives market is being boosted by the rise in demand for biomedical applications in the health sector. Also, the global bioadhesives industry is being boosted by more stringent environmental legislation and consumer perception of the harmful effects of synthetic materials.

Natural polymeric materials with adhesive properties and materials engineered to bind to biological surfaces are referred to as bioadhesives. Glues are made from biological intermediates, such as starch, cellulose, or gelatins.

Drivers: Increase in Regulations & Policies

As environmental concerns and regulatory laws have grown, several countries have adopted bio-based goods in a variety of uses. Furthermore, to assure safety and avoid health difficulties and hazards caused by VOC emissions from synthetic or petro-based adhesives, worldwide adhesive makers are focusing on bio-products.

Environmental regulations are heavily regulated in Europe and North America. Bio-based adhesives are preferred by some agencies such as the U.S. Environmental Protection Agency (EPA) and the Food and Drug Administration (FDA). As a result, encouraging R&D and investment in bio-based sustainable products is favorable.

Restraints: Competition from substitutes

Bioadhesives are made from renewable materials and have the potential to replace petroleum-based adhesives. Synthetically generated adhesives, which are cheaper and easier to make, pose a significant threat to bioadhesives. To enter the large markets and to overcome the barriers, bioadhesives manufacturers must focus on providing bio-based products at a competitive price. The primary market sectors witness this problem as an opportunity to create technology to manufacture high-performance bioadhesives at an affordable price.

Bioadhesive restricted capabilities have hampered the adoption of bio and green adhesives in a variety of applications. The performance capabilities of bioadhesives are still being scrutinized, which has stifled the bioadhesives market growth.

Opportunities: Rise in Demand for Environment-friendly Products

The market's growth is driven by several factors such as increasing awareness about sustainability & greener products and a shift in consumer preferences toward environment-friendly products. The global chemical industry is investing in developing novel bio-based chemicals and encouraging producers to develop VOC-free products. As a result, the existing demand for environment-friendly products in the global chemicals and materials market provides a great opportunity for market expansion.

There is also an increasing need for environment-friendly or green structures, which opens up the possibility of developing green and sustainable adhesive solutions. Green adhesives are constructed from bio-based, renewable, recycled, remanufactured, or biodegradable components that are both environmentally benign and beneficial to the occupants.

Plant-based Segment Accounted for Largest Market Share

On the basis of type, the global bioadhesives market is categorized into plant-based and animal-based. The plant-based segment dominated the bioadhesives market, with a market share of 85.4% in the global bioadhesives market. Biodegradable and biological plant-based renewable resources are being used to replace petro-based raw materials to manufacture adhesives. The companies using bio-based ingredients are expected to introduce technological advancements to cater to the increasing demand for adhesives in various vertical industries.

End-user demand for ecologically friendly products is increasing, as are environmental restrictions, forcing producers to generate bio-based products. Plant-based adhesives are commonly used in paper & packaging, woodworking, personal care, and medicinal applications. Soybean, lignin, and starch are just a few of the plant-based adhesives available. Furthermore, the scarcity of natural resources has resulted in discovering new sources of raw materials.

Compared to petroleum and natural gas, starch is a very inexpensive raw material for developing adhesives. Extensive research has been conducted in recent years to increase the bonding capability of starch-based adhesives. Starch-based adhesives are derived from roots, seeds, and stalks of staple crops such as corn, rice, tapioca, wheat, and potato. These adhesives majorly find use in wood and furniture applications.

Highest Growth in Asia Pacific Region

Based on the regions, the global bioadhesives market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. Asia Pacific is the fastest-growing region worldwide with a CAGR of 4.6% from 2022-2030. The Asia-Pacific bioadhesives market is studied across Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. In Asia-Pacific, the bioadhesives market is projected to grow at the highest CAGR during the forecast period.

APAC is one of the most promising markets for bioadhesives since environmental regulators and governments lay down fewer rules and guidelines regarding the use of petrochemical-based adhesives. If regulatory agencies apply strict laws, the region will witness a surge in the production and demand for bioadhesives. In most APAC countries, strict government measures to regulate VOC emissions have yet to be implemented. Compared to North America and Europe, APAC has a small number of adhesive enterprises generating bioadhesives.

Source: Market Statsville Group (MSG)

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