The market for bio-based adhesives & sealants is expected to register a CAGR of 4.49% during the forecast period, 2018 to 2023.
This growth is primarily driven by the increasing demand from the packaging sector and stringent regulations for conventional adhesives in the United States.
Bio-based adhesives are finding increasing applications in the packaging sector, majorly for PET container packaging, flexible packaging, corrugated boards, carton side seams, and film-foil laminates.
Flexible packaging is the second-largest packaging application segment of the overall packaging market, owing to various advantages, such as requiring 91% less material than rigid packaging, and about 96% of space saving. In the food industry, flexible packaging is being largely preferred due to its moisture absorption properties, product freshness, and temperature control while maintaining the shelf life of the product.
Demand for lightweight and innovative packaging solutions from the food industry is majorly driving the consumption of bio-based adhesives.
Corrugated boxes are among the fastest growing packaging materials. These boxes are the favored choice of various industries, such as food and beverage, automotive, FMCG, pharmaceutical, durable goods, and tobacco, among others. Expanding e-retailing business, and the usage of recycled paper, are fuelling the demand for corrugated boxes. Moreover, rising industrial activity, especially in the manufacturing and retail industry, is the major driver for the demand for corrugated boxes, as they are used for protection and transportation of goods.
Also, many research activities are being carried out for sorting out newer bio-based adhesives for usage as tapes, in packaging applications. For instance, engineers at the University of Delaware have successfully developed a technique to produce packaging tapes from lignin.
Increasing Demand from the Packaging Sector
Soy Raw Material Segment to Contribute Significant Demand to the Market
Europe to Dominate the Market
Key Developments in the Market
DowDuPont Inc. announced the successful completion of the merger between the Dow Chemical Company and E I du Pont de Nemours and Company. The combined entity is operating as a holding company, under the name DowDuPont.
Key Topics Covered
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