Market Trends of Bio-based Adhesives Industry
This section covers the major market trends shaping the Bio-based Adhesives Market according to our research experts:
Paper, Board, and, Packaging Industry to Dominate the Market
- An extremely high proportion of all industrial products are sold in packaged form, either due to stability requirements for storage and transport, or for aesthetic reasons. Most of the packaging materials currently being used are made from the combination of different materials laminated together with the help of adhesives.
- Applications of bio-based adhesives range from corrugated box construction and lamination of printed sheets to packaging materials used for all types of consumer products.
- The improvement in living standards and higher purchasing incomes, especially in eastern European and North American countries, has increased the demand for a broad range of products, all of which require packaging. Therefore, the demand for packaging has, in turn, increased the consumption of bio-based adhesives.
- The biggest market for bio-based adhesives in the global scenario has been the paper, board, and packaging segment, and the packaging segment represents the fastest-growing end-user segment. Europe is the second-largest market for packaging in the world, after Asia-Pacific.
- Another factor contributing to the potential demand for bio-based adhesives within the packaging is the traditionally low levels of automation, which causes many packaging producers to use alternate forms of adhesives.
- Hence paper, board, and packaging industry are likely to dominate the market.
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Europe to dominate the market
- Europe dominated the bio-based adhesives market owing to the high demand from countries like Germany.
- Germany is the major consumer of bio-based adhesives in the European region, with many major companies having their presence in the country.
- Germany is a major producer of natural rubber- and starch-based adhesives in the global scenario.
- The increase in the production of bio-succinic acid in Germany has supported the production of bio-based label adhesives that are based on bio-succinic acid.
- In Italy, the market for modular construction is expected to increase at a significant rate during the forecast period, with an increase in residential construction activities and various institutional projects.
- Hence, Europe is likely to dominate the bio-based adhesives market and is expected to witness the highest market share during the forecast period.
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