The global bioadhesives market is set to gain traction from their ever-increasing usage in filters, cigarettes, printed sheet lamination,specialty packaging, and flexible packaging. This information is given by Fortune Business Insights™ in an upcoming report, The report further states that the high demand for environment-friendly and organic products from consumers would affect growth positively.
Which region is anticipated to dominate the market?
Will COVID-19 pandemic affect the market negatively?
What are the current innovations and developments in the market?
How will bioadhesives manufacturers increase customer base in the near future?
Drivers & Restraints-
Fluctuating Prices of Crude Oilto Accelerate Growth
The increasing fluctuations in the prices of crude oilare set to propel the bioadhesives market growth in the near future. There is a rising inclination of people towards biological adhesives owing to the surging prices of oil. Also, the products are biocompatible as they are obtained from natural sources. Hence, they are mainly preferred in a wide range of applications, especially in the medical industry. Besides, the rising awareness programs regarding bioadhesives in the packaging industry, coupled with the increasing demand forsustainable packaging solutions would boost growth.However, there are certain limitations when it comes to the performance of bioadhesives. This factor may hinder growth.
Strict Laws Imposed on Usage of Synthetic Adhesives to Aid Growth in Europe
Geographically, North America is expected to generate the largest bioadhesives market share throughout the forthcoming years. This growth is attributable to the increasing initiatives by the regulatory bodies in the region, such as Commission for Environmental Cooperation (CEC) and Environment Protection Agency (EPA)for encouraging people to use bio-based adhesives. Europe, on the other hand, is set to grow considerably because of the stringent government regulations imposed on the usage of synthetic adhesives. Apart from this, the rising technologicaladvancementsfor enhancing the performance of bioadhesivesis expected to propel growth in this region.
In Asia Pacific, the increasing number of renovation and constructionactivitiesis likely to surge growth in this region. Lastly, the Middle East & Africa and Latin America would grow significantly on account of the increasing usage of bioadhesives for several medical applications involving tissues and skin.
Key Players Aim to Develop Novel Products to Gain Competitive Edge
The market houses a large number of manufacturers that are persistentlystriving to introduce state-of-the-art products by conducting extensive research and development activities. By doing so, they would be able to compete against their rivals. Below are two latest industry developments:
August 2020: A team of scientists in Nanyang Technological University, Singapore, developed an experimental material called CaproGlu. It is made out of diazirine and polycaprolactone. The newly developed product is a rubbery bioadhesive that would speed the healing process.
August 2020: MetP® Pharma AG’s Nascum®-VIREX, a bioadhesive nasal gel will be evaluated for its effect against viral infection. It is a class 1 medical device and an oil-based nasal gel. It provides a physical barrier to trap airborne particlesin the nasal cavity.
Fortune Business Insights™ lists out the names of all the prominent Bioadhesives manufacturers operating in the global market. They are as follows:
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