Bioadhesive Market Analysis by Knowledge Sourcing Intelligence

The bioadhesive market is estimated to grow at a CAGR of 12.9% over the forecast period to reach US$3.271 billion by the end of 2022. The bioadhesives market is dominated by major players such as 3M and Henkel, there is a presence of many small, and medium players. Thus, the switching costs from one player to the other is moderate. The presence of substitutes also reduces the overall bargaining power of suppliers. However, due to various environmental regulations, the demand for substitutes is expected to decline while boosting the overall adoption of bioadhesives. Thus, the bargaining power of suppliers will be Medium.

Greenhouse gases are one of the primary sources of air pollution and the cause of rising environmental temperature in the world. According to the U.S. Environmental Protection Agency (EPA), gases that trap heat in the atmosphere are called greenhouse gases. According to EPA, Carbon dioxide alone contributed an 81% share of the greenhouse gas emissions in the United States for the year 2014. Remaining 19% is added by the combination of Methane, Nitrous Oxide, and Fluorinated Gases. According to the World Bank, the approximate greenhouse gas emissions in kilotons of Co2 increased from 0.447 billion in 2009 to 0.508 billion in 2012 rose at a CAGR of 4.4%. Thus, all the above factors are accumulating to the increasing pollution and increasing the demand for environmentally friendly products, thereby providing ample of opportunities to the bioadhesive vendors in the forecast period.