Bio-based adhesives market is growing across the globe, due to high growth of the biotechnology industry, severe environmental regulations for petrochemical adhesives, and the instabilities in the rate of petrol-based ingredients. Bio-based adhesives are highly demanded by the packaging, construction, and pharmaceutical industry. Packaging and paper are the most important application industry for bio-based adhesive. Bio-based adhesives used in the packaging industry for manufacturing rigid cardboard boxes, multi-layer films, tapes, and labels etc.
Bio-based adhesives increase the performance of product, binding strength, durability and elasticity, it must be suited for food packaging because of the eco-friendly nature. Increasing government regulations towards the use of bio-based product influence the manufacturer to come up with new innovation in the market. The technological innovation and research in the biotechnology industry support in the adoption of bio-based adhesives for packaging globally and it promotes new vendor to come into bio-based adhesive for packaging market. Continuous use of the conventional adhesive may affect the growth of the bio-based adhesive for packaging market.
Bio-based Adhesives for Packaging – Market Dynamics:
There are several factors which contribute to the growth of the bio-based adhesives for packaging market. One of the significant factors which participate in the growth of the bio-based adhesives market is growing demand by the various industries such as packaging, pharmaceutical, woodwork, and construction etc. Moreover, rising prices of oil may stimulate commercial interest in bio-based adhesives rather than alternative synthetic adhesives.
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Furthermore, rising number of regulatory policy aimed at limiting the development of the petroleum-based product is one of the considerable factors for the growth of bio-based adhesives market. Inclination towards the use of bio-based and eco-friendly products is also a growing concern for the growth of the bio-based adhesives market. Low shelf-life and continued usage of conventional adhesive may affect the growth of the bio-based adhesive market. Innovation in the technology, product and enhancing their properties will offer numerous opportunity for the bio-based adhesives for packaging market growth.