Today's News Releases
| Submit Press Release
| Submit Website
(IndustryNews247.Com, July 20, 2021 ) Bio-Based Adhesives Market size is forecast to reach $11.1 billion by 2026, after growing at a CAGR of 9.8% during 2021-2026. Bio-based adhesives possess extensive characteristics such as flexibility and easy curing mechanisms, owing to that they are commonly employed in end-use industries such as construction, medical, and packaging. The growing consumption of petroleum-based products (fossil-based materials) and their consequent negative environmental impact (increasing carbon footprint), there is an increasing need to develop novel and more sustainable sources to obtain raw materials. Additionally, the increasing concern about running out of petroleum resources, an increased focus has been placed on developing environmentally friendly and sustainable adhesives. This is particularly driving the demand for bio-based adhesives. Furthermore, the increasing demand from the packaging sector is likely to provide growth opportunities for the bio-based adhesives industry during the forecast period. However, bio-based additives have a shorter shelf life and perform less well than petroleum-based additives, which is likely to limit the bio-based adhesives market growth.
The big shift in consumer sentiment in favor of environmentally sustainable packaging solutions has been one of the primary sector development in recent years. Although COVID-19 is unlikely to put a stop to this in the long run, it may have a short-term effect on the pace of change. The ban on plastic straws, stirrers, and cotton buds, which was set to take effect later this month, has been postponed until October 2020 by the UK's Department for Environment, Food and Rural Affairs (Defra). The food service industry has also had to rethink its use of reusable or refillable products that may transmit disease. Even before the lockdown, several coffee shops, for example, had resorted to using disposable cups. Pre-packaged foods, such as fruit and vegetables, may also become more common among retailers and consumers, rather than buying them loose. Consumers may perceive such options as safer, as they may speed up restocking and time through the till. Essentially, during the current crisis, the values that packaging has long served – protecting the protection, hygiene, and integrity of products – may come to the fore. Although this could be a fad, market demand is likely to fluctuate and decrease in the near future.
Bio-based Adhesives Market Segment Analysis - By Raw Material
The plant-based segment held the largest share in the bio-based adhesives market in 2020, up to 62%. Plant-based adhesives are derived from various sources including soy protein, lignin, and starch. Furthermore, the scarcity of natural resources has resulted in the discovery of new sources of raw materials. In comparison to petroleum and natural gas, starch is a relatively inexpensive raw material for the development of adhesives. The popularity of plant-based bio-adhesives over fossil-based materials adhesives has exploded in recent years. Soy protein is a good choice among natural renewable resources for industrial use because of its high production volume and low use of soy meal-based products for human food consumption. Because of its low cost, high protein content, and ease of processing, soy protein is an ideal raw material for the production of wood adhesives. Owing to the cost-advantage associated with plant-based adhesives its demand increasing during the forecast period.
Request for Sample Report @ https://www.industryarc.com/pdfdownload.php?id=502867
Report Price: $ 4500 (Single User License)
Bio-based Adhesives Market Segment Analysis - By End-Use Industry
The paper, board, and packaging segment held the largest share of more than 25% in the bio-based adhesives market in 2020 and is growing at a CAGR of 12.8% during 2021-2026. Because of the need for reliability in storage and transportation, as well as aesthetic considerations, a large percentage of all industrial goods are sold packaged. The bulk of today's packaging products are made up of a variety of materials that have been laminated together with adhesives. Bio-based adhesives are used in a variety of applications, including corrugated box construction and printed sheet lamination, as well as packaging materials for a variety of consumer goods. In the packaging industry, bio-based adhesives are increasingly being used in PET container packaging, flexible packaging, corrugated boards, carton side seams, and film-foil laminates. Flexible packaging is widely used in the food industry because of its moisture absorption properties, product freshness, and temperature regulation while preserving the product's shelf life. Thus, the demand for flexible packaging solutions from the food industry is majorly driving the consumption of bio-based adhesives, owing to which the paper, board, and packaging industry is dominating the market during the forecast period.
Bio-based Adhesives Market Segment Analysis - By Geography
Europe region held the largest share in the bio-based adhesives market in 2020 more than 35% and is witnessing significant growth during 2021-2026, owing to the escalating demand for bio-based packaging in European countries to lower carbon footprint. Increased demand for a wide range of goods, many of which require packaging, has risen as living standards and buying incomes have improved in various European countries. As a result, the demand for packaging has risen, as has the demand for bio-based adhesives. The usage of bio-based adhesives & sealants is increasing in packaging materials to improve the productivity of the economy and reduce its reliance on fossil fuels. The demand for packaged food products is rapidly growing in European countries. According to the International Trade Administration (ITA), Russia is the world's eighth-largest market for processed food goods, with 27.5 million tons traded, and drinks (alcoholic and non-alcoholic) with 26 billion litres traded. Russia's food production increased by 4.7 percent in 2018, while drink production increased by 3%. Spanish food retail sales totalled $112.4 billion in 2018. Additionally, Europe continues to host record numbers of tourists, which also boosts food demand. With the increasing demand for food and beverages, the demand for packaging materials is also substantially rising. Therefore, owing to this the demand for bio-based adhesives is anticipated to increase, which will then drive the market growth in the European region during the forecast period.
Bio-based Adhesives Market - Drivers
Increasing Demand for Environmentally-Friendly Products
Many factors are driving the growth of the bio-based adhesives market, including increased consumer awareness of sustainability and greener products, depletion of fossil based materials, as well as a change in consumer preferences toward environmentally friendly products. The global chemical industry is investing in the development of novel bio-based chemicals and encouraging manufacturers to develop VOC-free products. As a result, the current market demand for environmentally friendly goods in the global chemicals and materials market provides enough room for expansion. There is also an increasing demand for environmentally friendly or green buildings, which opens up the possibility of developing green and sustainable adhesive solutions. Bio-based adhesives are often made from renewable, recycled, remanufactured, or biodegradable materials, making them environmentally friendly and beneficial to occupants.
Flourishing Construction Industry Accelerating the Demand
In the building industry, bio-based adhesives are used to prevent fluids and other substances from moving through material surfaces, joints, or openings. Bio-based adhesives are typically used to close openings between spaces that are too small for other materials such as concrete, timber or mortar to be used. They are also used to prevent the passage of air, sound, dust, insects, and so on, as well as acting as a fire-stopping component. Governments are putting a lot of money into developing the building industry. For instance, Thailand's government set aside THB4 billion (US$125.6 million) in 2019 to fund five low-cost housing projects across the country. In February 2020, the Department of Human Settlements allocated R95.9-billion, which will support the delivery of 22,696 housing subsidies in South Africa during 2020-2021. The residential construction in countries, such as Germany, India, and United States has been increasing, and the trend is likely to continue due to the increasing demand for residential dwellings. With this, the demand for bio-based adhesives is also expected to increase, which will then drive market growth.
Inquiry Before Buying @ https://www.industryarc.com/reports/request-quote?id=502867
Bio-based Adhesives Market - Challenges
Incorporation of Advanced Technologies Is Increasing the R&D Expenditures
Bio-based adhesive processing necessitates sophisticated formulation and cutting-edge technology. When compared to other adhesive formulations, the R&D costs of creating bio-based products are substantial. As a result, only the world's largest producers can afford to invest heavily in product development. Henkel AG, EcoSynthetix Inc., 3M Business, Arkema SA, and Cryolife Inc. are among the major players investing in R&D. Smaller players can strategize and produce new products, but selling such products in a competitive global market is a huge challenge. Customers can already get high-quality adhesives and specialist professional services from leading companies. Adhesive producers and customers profit from the advanced technologies used in the manufacturing of bio-based adhesives. As a result of the incorporation of advanced technologies, R&D expenses are rising, serving as a constraint for the bio-based adhesives market over the forecast period.
Bio-Based Adhesives Market Landscape
Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the bio-based adhesives market. Major players in the bio-based adhesives market are Toyochem Co., Henkel AG & Company, KGaA, DuPont de Nemours, Inc., Arkema (Bostik SA), Ashland Global Holdings Inc., Beardow Adams Group, Paramelt BV, Jowat SE, Ingredion Incorporated, EcoSynthetix Inc., and Tate & Lyle PLC.
In February 2021, Henkel launched Technomelt Supra ECO – a new range of hot melt adhesives that delivers greater sustainability and lower CO2 emissions while maintaining the performance of the Supra range.
In September 2020, Toyochem Co., Ltd. developed a new series of biodegradable pressure-sensitive adhesives (PSAs). The newly developed product, marketed as the CyabineTM series of polyurethane PSAs, is suitable for materials used in packaging, building, agriculture, and other industries where biodegradable or recoverable materials are preferred.
Europe dominates the bio-based adhesives market. The growing demand growth in Europe has been driven by the use of bio-based adhesives in industries such as packaging, construction, healthcare, and more.
In the wood and medical industries, bio-based adhesives have widespread applications. Macroscopic factors such as rising population and industrialization lead to the growth of the packaging and construction industries, which in turn flourishes the bio-based adhesives industry.
The increased demand from the end-use industries and the environmental regulations for environmentally-friendly products is on the rise, which is accelerating the bio-based adhesives market.
Environmental concerns and decreasing fossil resources discourage the use of fossil based materials. This has led to the development of bio-based adhesives which work towards reduced carbon footprint while efficiently bonding different substrates.
The bio-based adhesives become to the new promising adhesives for the wood-based panel industry (WBPs)
Related Reports :
A. India Adhesives Market
B. Packaging Adhesives Market
For more Chemicals and Materials Market reports, Please click here
About IndustryARC: IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to email@example.com to discuss more about our consulting services.
Industrial News TV