Study Estimates Global Bio-Adhesives Market to Reach $5.89 Billion by 2030
According to a report by Straits Research, the global bioadhesives market size was valued at $3.86 billion in 2021. It is expected to reach $5.89 billion by 2030, growing at a CAGR of 4.8%. The growth is expected to due to the advancement of biotechnology, increasing environmental regulations, and the growth of the packaging industry.
Bioadhesives include naturally occurring polymeric substances with adhesive properties and modified synthetic substances. This category contains glues derived from cellulose, starch, or gelatines. Bioadhesives are a popular alternative to synthetic adhesives with a less harmful effect on the environment as they are made from replenishable materials. The growing demand for biomedical applications in healthcare is driving the global market for bioadhesives. The global bioadhesives industry also benefits from stricter environmental legislation and consumer awareness of the dangers of synthetic materials.