Global Bioadhesives Market 2019-2023
About this market
The increasing demand for bio-based hot-melt adhesives in the APAC region will drive the bioadhesives market in the forthcoming years. Key countries including India, China, Japan, South Korea are key consumers of hot-melt adhesives. Market players also include collaborations and enter agreements for enhancing their distribution chain in growing economies. With the improving financial status of the consumers coupled with a higher purchasing power and rapid changes in lifestyle, the demand for bioadhesives will further proliferate in the forthcoming years. Technavio’s analysts have predicted that the bioadhesives market will register a CAGR of nearly 13% by 2023.
Growth in preference for sustainable packaging
One of the growth drivers of the global bioadhesives market is the growth in preference for sustainable packaging. The rising demand for flexible packaging and corrugated boxes from the food and beverage industry will drive the growth of the market.
Limitations of bioadhesives
One of the challenges in the growth of the global bioadhesives market is the limitations of bioadhesives. Consumers and industries are shifting towards synthetic adhesives due to the reduced shelf-life of bio-based adhesives which will hamper the growth of the market.
For the detailed list of factors that will drive and challenge the growth of the bioadhesives market during 2019-2023, view our report.
The market appears to be moderately concentrated and with the presence of few market players. Bioadhesives manufacturing companies are focusing on increasing the strength and durability of materials. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies.
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