Global Bioadhesives Market Report 2023: Rising Demand from the Medical Sector for Treatment Purposes Drives Growth

DUBLIN, April 17, 2023 /PRNewswire/ -- The "Bioadhesives Market- Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Source (Plant Based v/s Animal Based), By Application (Paper & Packaging, Construction, Woodworking, Personal Care, Medical, Others), By Region and Competition" report has been added to  ResearchAndMarkets.com's offering.

The global bioadhesives market is anticipated to increase at an impressive rate through 2028.

Companies Mentioned

• Albemarle Corporation
• Altana AG
• BASF SE
• Cabot Corporation
• DIC Corporation
• DuPont de Nemours Inc.
• Ferro Corporation
• Huntsman Corporation
• Kemira Oyj
• Lanxess AG

Bioadhesives are natural polymers with an enclosed molecular composition that doesn't allow infiltration between the binding and acts as biological intermediates. The primary use of the component is to make two surfaces stick together, which can't be alienated easily. The increasing awareness among the population worldwide pertaining to different kinds of environmental concerns has led to a paradigm shift towards bio-based products.

Additionally, governments across the globe are formulating policies supporting the role of bio-based products, thereby creating lucrative opportunities for the growth of global bioadhesives market in the coming years.

There is enormous demand for bioadhesives such as polyacrylic acid, cyanoacrylates, and chitosan from diverse industries, which they use to produce desired goods. The primary application of Bioadhesives is door and window assembly, construction material, vehicle parts, the HVAC industry, prefabricated houses, packaging, the woodwork industry, and other works.

According to the research reports, the global market value of adhesives in 2020 was 44.37 billion US dollars and is expected to reach 65.1 billion US dollars in 2028. Therefore, the globally rising demand for Bioadhesives in the market is expected to increase rapidly owing to the population and environmentally friendly substitute of synthetic adhesives.

Growing Demand Medical Sector for Treatment Purposes

Bioadhesives are highly demandable products by surgeons during surgeries as a replacement for surgical sutures. Bioadhesives are polymeric materials made up of sugar, gelatine, starch, and organic tissue to provide liquid adhesive-like properties that make them environment-friendly and effective medical adhesives.

According to the report published in 2022 by the National Centre for Biotechnology Information, USA, almost 310 million major surgeries are performed each year worldwide. As the number of chronic diseases and accidental cases is rising, the increasing trend is expected to propel the Bioadhesives market in the projected period.

Rising Demand from Different Industries

The diverse use of bioadhesives in various end-user industries is expected to positively influence market growth. For instance, the global automotive industry is expected to reach 3.8 trillion US dollars from automobile sales by 2030. Thus, rising demand for manufacturing of automobile parts like joining seats, spoilers, tailgates, side skirts, bumpers, headlights, and dashboards where bioadhesive is needed, is expected to propel the market growth.

Besides these, the growing use of biobased adhesives in construction activities as a substitute for oriented strand boards is further expected to support the market growth. In the stationery and printing sector, polylactic acid (PLA), polyhydroxy alkenoate (PHA), starch, chitosan, and polysaccharides are used as barrier coatings on paper packaging applications is further expected to increase the demand for bioadhesives in the coming years, thereby supporting the market growth. All these factors are expected to propel the growth of the bioadhesive market in the forecasted period.

Biotechnological Innovation Efforts

Many firms are signing or collaborating with foreign firms to increase access to innovative products and technology. Mergers and acquisition support firms use the proficiency of each other firm and earn more revenue deprived of extra focus, extra time, and effort.

The advancement in the biotechnology industries will encourage the utilization of naturally originated adhesives and provide solutions for climate change, environmental pollution, and scarcity of resources. These enhancements in the natural properties will propel the demand for bio adhesives in different industries.

Mergers & Acquisitions

In September 2022, Henkel AG completely acquired the Boston-based advanced materials start-up NBD Nanotechnologies Inc. This acquisition helps Henkel to fortify its presence in its adhesive technologies business unit in functional coatings. Through this acquisition, Henkel is planning to enhance fingerprint visibility for glass and impart stain repellency for plastics, textiles, and other materials.

Report Scope:

In this report, global bioadhesives market has been segmented into the following categories, in addition to the industry trends, which have also been detailed below:

Bioadhesives Market, By Source:

• Plant-Based
• Animal Based

Bioadhesives Market, By Application:

• Paper & Packaging
• Construction
• Woodworking
• Personal Care
• Medical
• Others

Bioadhesives Market, By Region:

• North America
• United States
• Canada
• Mexico
• Europe
• Germany
• France
• United Kingdom
• Spain
• Italy
• Asia-Pacific
• China
• India
• Malaysia
• Australia
• Japan
• South America
• Brazil
• Argentina
• Colombia
• Middle East & Africa
• South Africa
• Saudi Arabia
• UAE
• Egypt
• Turkey

For more information about this report visit https://www.researchandmarkets.com/r/ff8ajf

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