Technavio has announced the top five leading vendors in their recentglobal bioadhesives market for packaging applicationsreport from 2017 to 2021. This market research report also lists seven other prominent vendors that are expected to impact the market during the forecast period.
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Technavio has published a new report on the global bioadhesives market for packaging applications from 2017-2021. (Graphic: Business Wire)
Competitive vendor landscape
According to the research analysis, the global bioadhesives market for packaging applications is expected to grow at a CAGR of close to 14% until 2021. The global bioadhesives market for packaging is expected to grow significantly during the forecast period due to increasing environmental and regulatory concerns, growing production in the industrial sector, and rising demand from end-users such as the paper and packaging industries.
The global bioadhesives market for packaging applications is highly fragmented, with the presence of many global and local vendors. The top vendors in the market have manufacturing facilities worldwide and operate through strategic partnerships and joint ventures. There are many large-scale and small-scale companies in the market who compete based on innovation, product quality, price, product differentiation, and R&D.
According to Kurva Samba Sivudu, a lead analyst at Technavio foradditives, adhesives, and sealants research, "Some of the key factors that potentially drive the market include increased acceptance for bio-based products, cost effectiveness, environmental concerns, and government norms to reduce the adoption of synthetic adhesives. Technological improvements, easy availability of raw materials, and improvement in R&D spending by prominent vendors are some other drivers that promote the growth of the market."
The report also states that the bioadhesives market for packaging is expected to show high potential growth in economies such as Germany, India, China, Japan, Brazil, the US, the Netherlands, and countries in Africa.
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Technaviomarket research analysts identify the following key vendors:
Danimer Scientific
Danimer Scientific manufactures biopolymers and bioplastics. The company conducts extensive R&D in the formulation of biopolymers and provides toll manufacturing and compounding services. Various products offered by the company include biodegradable plastics, aqueous coatings, additives, resins, hot melt adhesives, injection adhesives, and thermoforming resins. Bioadhesives manufactured by the company consists of more than 50% of renewable substances. They are direct replacements for synthetic adhesives and are used for packaging and lamination of products.
H.B. Fuller
H.B. Fuller caters to product segments such as adhesives, sealants, and other specialty chemical products. Packaging, hygiene, general assembly, electronics, paper converting, woodworking, and construction are the end-user applications of adhesives and sealants manufactured by the company. H.B. Fuller manufactures bioadhesives for flexible packaging, cases and cartons, specialty packaging, packaging handles, and container labeling.
Henkel
Henkel has four globally operating business units, which include adhesive technologies, beauty care, laundry and home care, and corporate. Henkel is a leading manufacturer of sealants, adhesives, and functional coatings. Adhesive technology is the largest business unit of the company, and thus, the product portfolio is organized under five brands such as Loctite, Bonderite, Technomelt, Treason, and Aquence.
Ingredion
Ingredion is an ingredient solution company that operates globally. Ingredion manufactures eco-friendly bioadhesives for packaging applications. It is mainly applied in the corrugated packaging applications for food and beverage industry. The eco-friendly and bio-based adhesives manufactured by Ingredion provide flexibility and customization.
The Dow Chemical Company
The Dow Chemical Company delivers technology-driven solutions to customers in more than 175 countries. The global marketing trends such as an increase in disposable income, rising population, and changes in lifestyle can potentially drive the market for bioadhesives in the packaging industry. The Dow Plastics and Packaging unit is experiencing incremental growth rate due to the rise in the demand from market segments such as the industrial and consumer packaging sectors.
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