Bio-based Adhesives for Packaging Market Overview:
Bio-based adhesives market is growing across the globe, due to high growth of the biotechnology industry, severe environmental regulations for petrochemical adhesives, and the instabilities in the rate of petrol-based ingredients. Bio-based adhesives are highly demanded by the packaging, construction, and pharmaceutical industry. Packaging and paper are the most important application industry for bio-based adhesive. Bio-based adhesives used in the packaging industry for manufacturing rigid cardboard boxes, multi-layer films, tapes, and labels etc. Bio-based adhesives increase the performance of product, binding strength, durability and elasticity, it must be suited for food packaging because of the eco-friendly nature. Increasing government regulations towards the use of bio-based product influence the manufacturer to come up with new innovation in the market. The technological innovation and research in the biotechnology industry support in the adoption of bio-based adhesives for packaging globally and it promotes new vendor to come into bio-based adhesive for packaging market. Continuous use of the conventional adhesive may affect the growth of the bio-based adhesive for packaging market.
Bio-based Adhesives for Packaging – Market Dynamics:
There are several factors which contribute to the growth of the bio-based adhesives for packaging market. One of the significant factors which participate in the growth of the bio-based adhesives market is growing demand by the various industries such as packaging, pharmaceutical, woodwork, and construction etc. Moreover, rising prices of oil may stimulate commercial interest in bio-based adhesives rather than alternative synthetic adhesives. Furthermore, rising number of regulatory policy aimed at limiting the development of the petroleum-based product is one of the considerable factors for the growth of bio-based adhesives market. Inclination towards the use of bio-based and eco-friendly products is also a growing concern for the growth of the bio-based adhesives market. Low shelf-life and continued usage of conventional adhesive may affect the growth of the bio-based adhesive market. Innovation in the technology, product and enhancing their properties will offer numerous opportunity for the bio-based adhesives for packaging market growth.
Bio-based Adhesives for Packaging – Market Segmentation:
Bio-based adhesives for packaging market can be segmented on the basis of source type, and application.
On the basis of source type, bio-based adhesives for packaging market is segmented into –
- Plant Based
- Animal Based
On the basis of application, bio-based adhesives for packaging market is segmented into –
- Taping
- Rigid Box
- Labelling
- Multi-layer Films
Bio-based Adhesives for Packaging Market – Regional Outlook:
Geographically, the bio-based adhesives for packaging market have been segmented on the basis of region into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa (MEA). North America and Europe are expected to collectively dominate the market throughout the forecast period. However, many bio-based adhesive manufacturing companies are investing in Asia Pacific to tap the demand and potential for bio-based adhesives for packaging. Latin America and Middle East & Africa are expected to witness sluggish growth over the forecast period. Europe, APAC, and North America are expected to create maximum incremental opportunities in terms of revenue for companies involved in the bio-based adhesive market. However, China and India based adhesive manufacturers are looking to seize most of the opportunity offered in terms of revenue from the global bio-based adhesives for packaging market. Asia Pacific and North America have the largest regional market for bio-based adhesives for packaging, owing to high demand for bio-based adhesive product. The Middle East and Central and South America are expected to observe considerable growth rates in near future for bio-based adhesive for packaging market.
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Bio-based Adhesives for Packaging Market – Major Players:
Few of the major players identified across the globe in the bio-based adhesives for packaging market are Ashland Inc., 3M Co., Avery Dennison Corporation, Ingevity Corporation, Collano Adhesives AG, EcoPro Polymers, Bio-Adhesive Alliance Inc., Meredian Holdings Group, Inc., Henkel Corporation etc.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
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