PUBLISHER: Grand View Research | PRODUCT CODE: 1571789
PUBLISHER: Grand View Research | PRODUCT CODE: 1571789
The global bioadhesives market size is expected to reach USD 9.4 billion by 2030 and is projected to grow at a CAGR of 9.1% from 2024 to 2030, according to a new report by Grand View Research, Inc. Volatile prices of synthetic adhesives on account of fluctuation in raw material prices are expected to remain a key driving factor for the global bioadhesives market. Government support to promote the use of natural, environmentally friendly products particularly in North America and Europe is also expected to have a positive influence on market growth. Growth of key end-use industries such as packaging, construction, and automotive particularly in emerging markets of Asia Pacific is also expected to impact the demand positively. The low shelf life of bioadhesives compared to synthetic adhesives is expected to remain a key challenge for market participants.
Plants were the largest source for bioadhesives and accounted for over 70.7% of the total market volume in 2023. Promising plant-based adhesives such as starch, soy, and corn find wide application across various end-use industries and are expected to provide lucrative opportunities to industry participants and augment global market growth. Animal-based adhesives are expected to witness steady growth of 9.6% from 2024 to 2030.