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Global Bio-based Adhesives Market - Trends, Top Manufactures, Market Demands, Industry Analysis by 2023
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Among the various applications of bio-based adhesives, the packaging and paper segment held the largest share in the global market in 2015, and it is anticipated to retain its dominance during 2016 – 2022. The growth in demand for bio-based adhesives for packaging and paper application is attributed to the increasing compliance for bio-based and environment friendly products.
The developing economies of Asia-Pacific and Latin America, such as India, China and Brazil, and increased research and development activities in the market would offer ample opportunities for the growth of the market.
The key manufacturers of these adhesives may expand their geographical presence, as well as their product portfolio in emerging economies to exploit the revenue generation opportunities in these countries.
Geographically, Europe held the largest share in the global market in 2015, owing to the stringent environment regulations against petrochemical-based adhesives. Moreover, the availability of a large number of local manufacturers, increased initiatives for the development of bio-based adhesives and presence of a several end-user industry players in the region are anticipated to have significant positive impact on the growth of the European market.
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Some of the key players operating in the global market include Meredian Holdings Group Inc., Henkel AG & Co. KGaA, EcoSynthetix Inc., Paramelt B.V., The Dow Chemical Company, Ashland, 3M Company, Adhesives Research Inc., and Yparex B.V.
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