LONDON--(BUSINESS WIRE)--The bioadhesive market size is expected to grow by USD 1.32 billion during 2020-2024. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. The impact can be expected to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth, according to the latest market research report by Technavio. Request a free sample report
Plastic is widely used among manufacturers for packaging various types of products. However, awareness about its environmental impact among consumers is compelling brand owners to adopt sustainable packaging. Various countries are focusing on eliminating the use of plastic/synthetic packaging. In January 2018, the UK government announced its plan to eliminate all avoidable plastic waste, including food packaging, by 2042. This has increased the use of bioadhesives in packaging applications such as printed sheet laminations, flexible packaging, cigarettes and filters, cases and cartons, and specialty packaging. As bioadhesives have mineral oil in the adhesive composition that does not have any health implications, they are increasingly used in the frozen food and beverage industry for packaging applications. Thus, the growing preference for sustainable packaging is expected to drive the growth of the market during the forecast period.
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As per Technavio, the adoption of bioadhesives in medical and personal hygiene products will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Bioadhesive Market: Adoption of Bioadhesives in Medical and Personal Hygiene Products
As the adhesive on medical and personal hygiene products comes in direct contact with the human body, they are required to be non-toxic. This increases the use of bioadhesives in plasters, band-aids, poultices, and surgical tapes. They are also widely used in sanitary napkins and panty liners, incontinence pads, baby diapers, and feminine care products. In addition, the growing consumer awareness about personal hygiene is contributing to the demand for these products. This, in turn, will positively influence the growth of the global bioadhesives market during the forecast period.
“Factors such as the growing awareness about the benefits of bioadhesives and improvements in technology by vendors will have a significant impact on the growth of the bioadhesives market value during the forecast period,” says a senior analyst at Technavio.
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Bioadhesive Market: Segmentation Analysis
This market research report segments the bioadhesive market by product (plant-based adhesives and animal-based adhesives) and geography (Europe, North America, APAC, South America, and MEA).
The European region accounted for the bioadhesive market share in 2019, followed by North America, APAC, South America, and MEA respectively. During the forecast period, the European region is expected to register the highest incremental growth due to factors such as the presence of stringent government regulations in favor of bioadhesives and growing awareness about the harmful effects of synthetic adhesives.
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Some of the key topics covered in the report include:
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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