The global bioadhesives market revenue is expected to expand at a lucrative CAGR over the forecast period. The global bioadhesives market report has been segmented on the basis of source, application, and region. Concentrated focus on continuous R&D activities by key market players for developing efficient bioadhesives is expected to drive growth of the target market over the forecast period.
On the basis of source, the target market is segmented into plant-based bioadhesives and animal-based bioadhesives. Plant-based bioadhesives segment is expected to account for highest share in the target market over the forecast period, owing to its easy availability and cost-effectiveness. Plant-based bioadhesives are obtained from starch, corn, and soy. Animal-based bioadhesives segment is expected to register significant growth over the forecast period, owing to increasing adoption of animal-based bioadhesives in healthcare industry for specialty applications such as wound closures and open surgeries.
On the basis of application, the target market is segmented into packaging and paper, construction, wood, personal care, medical, and others. Bioadhesives find wide application in packaging & paper industry such as printed sheets lamination, cigarettes & filters, flexible packaging, and specialty packaging. The packaging & paper industry is expected to register highest CAGR over the forecast period, owing to increasing adoption of bioadhesives in various applications of paper & packaging industry such as printed sheets lamination, flexible packaging, cigarettes and filters, and specialty packaging. The construction segment accounted for second highest share in the target market, owing to increasing construction and infrastructural activities in developing countries.
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Based on the region the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in Europe is estimated to account for highest share in terms of revenue over the forecast period, owing to increasing adoption of bioadhesives in various construction and infrastructural activities in countries in the region. The market in North America is expected to register significant growth in terms of revenue, owing to development of products with efficient adhesive properties and stringent government regulations regarding the usage of petroleum-based products.
Key players operating in the global bioadhesives market include Henkel AG & Co. KGaA, Ashland Global Holdings Inc., The Dow Chemical Company, Arkema SA, Bioadhesives Medtech Solutions SL, Bio-Adhesive Alliance Inc., CryoLife, Inc., EcoSynthetix Inc., Columbia Laboratories, Inc., and Meredian Holdings Group Inc.