Specialty & Fine Chemicals Industry Bioadhesives Market Trends, 2024 | Page 2

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On the basis of applications, the industry is divided into personal care, medical, packaging & paper,
construction, and wood, among others. Packaging & paper led the application segment in 2014, with the
highest share (in terms of volume) of over 37%. Application of bioadhesives in food & beverages packaging will
drive this segment till 2024. Bioadhesives are mostly used in industries, such as printed sheets lamination,
cigarettes & filters, specialty packaging, and flexible packaging. These adhesives should necessarily exhibit high
elasticity, durability, and eco-friendliness. Also, they need to be renewable, biodegradable, and safe enough to
be used in food packaging.
Construction was the second largest application in 2014 and is likely to exhibit considerable growth till 2024.
This application uses bioadhesives for wall lamination and residential roofing. Medical applications held nearly
10% shares in 2014. They would grow at over 13% CAGR during the forecast period. The adhesive is used
extensively in applications, such as transdermal drug delivery, dressing wounds, skin-bonded monitoring
devices, and surgeries. These natural adhesives possess biocompatible properties that make them ideal for uses
involving skin and body tissues.
Regions are segmented into Europe, North America, Central & South America (CSA), and the Middle East &
Africa (MEA). Europe accounted for the highest market demand in 2014 and will continue to dominate the
market till 2024. Strict governmental regulations about the use of bio-based ingredients will play a significant
role in driving demand.
North America held the second highest share after Europe, in the global market in 2014. The region’s favorable
performance can be attributed to the growth of packaging & paper and construction industries. Also,
awareness about and demand for environment friendly, natural, and bio-safe products can increase the
demand for bioadhesives.
The global bioadhesives market is highly competitive one. Its leading manufacturers are Ecosynthetix
Incorporated, SCION, and Cryolife Incorporated. Together they account for around 70% of the total market
shares. Ecosynthetix dominates the market with a large margin.
Browse Related Category Market Reports @ https://www.hexaresearch.com/research-category/renewable-
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