Bioadhesive Market
REPORT DESCRIPTION
Bioadhesive Market( Source- Plant-based and Animal-based; End User- Paper and Packaging, Construction, Wood Works and Furniture, Medical, and Personal Care)- Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024
The global market for bioadhesives is consolidated with a handful of players holding the major share in the market. Cryolofe, SCION, and Ecosynthetix Inc. emerged as the top three companies, representing a massive share of almost 70 % in the global bioadhesives market in 2015, finds Transparency Market Research( TMR). Most of the leading manufacturers of bioadhesives are toiling to amplify their production capacities, develop new products, and to penetrate into unexplored regional markets.
Entry of new market players is encouraged by the vast growth opportunities presented by untapped geographical regions, particularly in Asia Pacific and the Middle East and Africa( MEA) regions. However, the new entrants might have to overcome the challenge pertaining to strong brand images of leading vendors via launches of innovative products. According to the findings of TMR, in 2015, the global bioadhesive market was pegged at USS251.6 mn in terms of revenue. By the end of 2024, the market will attain a revenue worth US $ 736 mn, growing at a favorable CAGR of 12.9 % between 2016 and 2024, states TMR. The paper and packaging segment held a significant share of 30 % in the global market for bioadhesives in 2015. By region, Europe accounted for a whopping 40 % of the global market during 2015.
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Europe, North America All Set for Further Expansion The bioadhesive market in North America is slated for maximum growth, driven by the strict adherence to eco-friendly regulatory policies. As more innovative products are developed by several firms to expand their product portfolios, the market is gaining momentum rapidly. The presence of prominent market players such as Dow Chemical Company, 3M Company, DaniMer Scientific, LLC,
Transparency Market Research
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