Bioadhesives Market Size, Share & Trends Analysis Report By Source (Plant-based, Animal-based), By Application (Packaging & Paper, Construction, Wood, Personal Care, Medical), And Segment Forecasts, 2015 - 2022

Industry Insights

The global bioadhesives market size was valued at USD 845.9 million in 2014 and is anticipated to witness a CAGR of 15.0% from 2015 to 2022. A global shift in the trend toward bio-based products owing to increasing awareness among consumers is expected to remain a major driving force for the market.

Bioadhesives find wide application in end-use industries such as packaging and paper, construction, wood, and medical industries. Growing preference for sustainable packaging, coupled with increasing awareness regarding bio-based adhesives in the packaging industry, is expected to positively impact market growth. Increasing penetration in applications, such as printed sheets lamination, cigarettes and filters, flexible packaging, and specialty packaging, is expected to bolster product demand over the next few years.

Increasing demand from the frozen food packaging sector is projected to positively impact market growth over the forecast period. Furthermore, bioadhesives are increasingly being used in the medical industry for applications such as surgeries, wound care dressing, transdermal drug delivery, and skin-bonded monitoring devices.

The increasing popularity of surgical bioadhesives as substitutes for surgical sutures is expected to further augment market growth. Key industry participants are involved in extensive R&D to develop innovative bioadhesives for the medical industry. Abundant raw material availability for starch, soy, and corn-based adhesives is expected to remain a key driver for market growth.

Lack of skilled resources for the development of improved products is projected to pose a challenge for industry participants. However, companies such as Dow and Henkel are investing heavily in developing adhesives that have 100% renewable content. This is anticipated to create immense opportunities for market participants over the forecast period.

Source Insights

Plant-based adhesives dominated the market in 2014 with a revenue share of 73.0%. Starch, soy, corn, and maize-based adhesives are gaining wide popularity owing to abundant raw material availability and low prices. Growing consumer preference for bio-based products is further expected to generate high demand for plant-based product variants.

Animal-based adhesives, such as bone, glue, hide, and hoof, are projected to penetrate end-use industries at a significant rate. They are used in specialty applications such as pipe organ building, piano repairs, woodworking, and antique restoration. However, the low shelf life and functionality of animal-based variants are expected to hinder segment growth over the forecast period.

Application Insights

Packaging and paper was the leading application in the bioadhesives market, with a revenue share of 36.5% in 2014. Bioadhesives find wide applications such as printed sheets lamination, cigarettes and filters, flexible packaging, and specialty packaging. Growing packaging and paper industry in emerging markets of Asia Pacific and Latin America is expected to augment segment growth over the forecast period.

The construction industry was the second largest application segment in 2014. The product is widely used in the construction industry for applications such as pipes, cladding panels, waste management systems, and pavements. This application is projected to exhibit significant growth owing to rising construction and infrastructure activities in emerging regions of Asia Pacific, Middle East, and Latin America.

The medical application segment is expected to exhibit the fastest CAGR of 15.6% over the forecast period. Product demand in the medical industry is driven by increasing usage in applications such as wound care dressings, transdermal drug delivery, surgeries, and skin-bonded monitoring devices.

The utilization of bioadhesives in internal medical applications is poised to witness significant growth over the coming years. For instance, fibrin adhesives are bio-friendly and have a considerable hemostatic effect (prevention of bleeding) and are increasingly used in cardiovascular applications.

Regional Insights

Europe was the largest regional bioadhesives market in terms of demand, with a volume share of 43.2% in 2014. The region is expected to continue its dominance over the forecast period owing to stringent government regulations regarding synthetic adhesives and rapid technological advancements associated with bio-based material usage.

North America was the second-largest consumer in 2014. The regional market is expected to witness significant growth in demand over the forecast period owing to initiatives taken up by environment supporters such as the Environment Protection Agency (EPA) and the Commission for Environmental Cooperation (CEC).

Asia Pacific is expected to witness moderate growth over the forecast period. Growing construction and remodeling activities in the region are expected to fuel product demand. Factors such as massive population, rising healthcare awareness regarding diseases and wound infections, and an increase in per capita income are also estimated to be major growth drivers for this regional market.

Bioadhesives Market Share Insights

The global market is highly fragmented in nature and is characterized by the presence of both large-scale and small-scale companies such as Ashland; Henkel; Dow Chemical Company; Arkema SA; and Ecosynthetix Inc.

Other major industry players include 3M Company; Yparex B.V.; Cryolife Inc.; Bioadhesive Alliance Inc.; and Danimer Scientific LLC. Industry participants are involved in extensive R&D activities and product innovation to widen the scope of application and penetrate regional markets.

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