[FURL=https://www.industryarc.com/Research/Bio-based-Adhesives-Market-Research-502867?utm_source=briefingwire&utm_medium=Pressrelease&utm_campaign=Paidpressrelease]Bio-Based Adhesives Market[/FURL] size is forecast to reach $11.1 billion by 2026, after growing at a CAGR of 9.8% during 2021-2026. Bio-based adhesives possess extensive characteristics such as flexibility and easy curing mechanisms, owing to that they are commonly employed in end-use industries such as construction, medical, and packaging. The growing consumption of petroleum-based products (fossil-based materials) and their consequent negative environmental impact (increasing carbon footprint), there is an increasing need to develop novel and more sustainable sources to obtain raw materials. Additionally, the increasing concern about running out of petroleum resources, an increased focus has been placed on developing environmentally friendly and sustainable adhesives. This is particularly driving the demand for bio-based adhesives. Furthermore, the increasing demand from the packaging sector is likely to provide growth opportunities for the bio-based adhesives industry during the forecast period.Key Takeaways
Europe dominates the bio-based adhesives market. The growing demand growth in Europe has been driven by the use of bio-based adhesives in industries such as packaging, construction, healthcare, and more.
In the wood and medical industries, bio-based adhesives have widespread applications. Macroscopic factors such as rising population and industrialization lead to the growth of the packaging and construction industries, which in turn flourishes the bio-based adhesives industry.
The bio-based adhesives become to the new promising adhesives for the wood-based panel industry (WBPs)
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Bio-based Adhesives Market Segment Analysis - By Geography
Europe region held the largest share in the bio-based adhesives market in 2020 more than 35% and is witnessing significant growth during 2021-2026, owing to the escalating demand for bio-based packaging in European countries to lower carbon footprint. Increased demand for a wide range of goods, many of which require packaging, has risen as living standards and buying incomes have improved in various European countries. As a result, the demand for packaging has risen, as has the demand for bio-based adhesives.
Bio-based Adhesives Market - Drivers
Increasing Demand for Environmentally-Friendly Products
Flourishing Construction Industry Accelerating the Demand
Bio-based adhesives market top 10 companies are Toyochem Co., Henkel AG & Company, KGaA, DuPont de Nemours, Inc., Arkema (Bostik SA), Ashland Global Holdings Inc., Beardow Adams Group, Paramelt BV, Jowat SE, Ingredion Incorporated, EcoSynthetix Inc., and Tate & Lyle PLC.
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