DALLAS, February 19, 2015 /PRNewswire/ --
The report "Bioadhesive Market by Type (Plant Based, and Animal Based), by Application (Packaging & Paper, Construction, Wood, Personal Care, Medical, and Others) - Global Forecast to 2019", published by MarketsandMarkets, The global Bioadhesive Market was estimated to be is $3 Billion in 2013, and is projected to reach $6 Billion by 2019, expected to grow at a CAGR of 13.0% between 2014 and 2019.
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The bioadhesive applications are significantly penetrating the end-user industry markets. They have different characteristics as per their manufacturing and application requirements in the end products. The North American region is expected to dominate the global market with its growing demand for bioadhesive in different application segments, especially the packaging & paper, and construction. The Asia-Pacific is a potential market and is estimated to grow at the highest CAGR in the next five years, with the allied industries expected to boost the overall business need in the respective regions.
R&D is expected to be a key part of the bioadhesive market as newer products with better reactive properties which are eco-friendly in nature, can be the vital drivers of the market. Manufacturing companies, research associations, and end-product manufacturers need to infuse high investments for future advancements and technology modifications of bioadhesive to match the new demands coming from various end-user industries.
Europe is the largest region, both in terms of volume and value, followed by North America and Asia-Pacific. Germany, U.S., U.K., Netherlands, and Japan are expected to continue as successful markets for bio-based products. The key players in the global bioadhesive market are Henkel Corporation (Germany), Dow Chemical Company (U.S.), DaniMer Scientific, LLC (U.S.), Paramelt B.V. (Netherlands), Ashland Inc. (U.S.), Adhesives Research (U.S.), EcoSynthetix Inc. (Canada), 3M Company (U.S.), Yparex B.V. (Netherlands), Adhbio (Spain), and others.
The developed European nations that host the global events related to bio-based industry would supplement the growth of bioadhesive market. Increased environmental and regulatory concern, an improved growth in industrial manufacturing, local end-user production, and increasing population in the emerging economies are expected to drive the consumption of bioadhesives. Also, the key exporters besides the players in Europe to these countries, mainly, the important global manufacturers, such as Henkel Corporation have started production of hot melt adhesives from bio-based products in the recent past. It depicts the rising demand from U.S. as well as in Germany and U.K. in the North American and European region.
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The bioadhesive demand, in terms of value and volume, depicts the current and future projections, according to the parallel economic and industry outlook. This analysis covers important developments, expansions, agreements, and partnerships of the leading global companies.
The global bioadhesive market was estimated to be is $3 billion in 2013, and is projected to reach $6 billion by 2019, expected to grow at a CAGR of 13.0% between 2014 and 2019. The high demands across the industries, such as packaging & paper, construction, wood, personal care, medical, and others, are expected to increase the overall bioadhesives consumption.
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