Published By : 14 Apr 2016 | Published By : QYRESEARCH
The global bioadhesives market has been undergoing a transitional phase over the last few years. The ongoing shift of consumers towards bio-based products has fueled the demand for bioadhesives extensively. The increasing government initiatives, encouraging the production of bio-based materials is likely to stimulate this market in the coming years. Apart from this, the growing awareness pertaining to the utilization of bioadhesives in the worldwide wood and furniture industry, providing a number of environmental benefits to consumers, is also expected to add significantly to the market’s growth.
Europe Leads Global Bioadhesives Market
Europe and North America led the global market for bioadhesives in the recent past. Europe emerged as the biggest regional market for bioadhesives across the world and is likely to maintain its leadership over the next few years. The strict regulations by European governments, in order to curb the usage of products that are hazardous to the environment, are likely to drive the Europe bioadhesives market in the near future.
Asia Pacific to Record Fastest Growth in Future
North America also accounts for a significant share in the global bioadhesives market. In 2014, it occupied the second position in the overall market. Analysts expect this market to register a steady rise in the coming years. However, they expect Asia Pacific to register the fastest growth among all the regional market in the nearing future. The increasing awareness among people pertaining to the benefits bioadhesives offer is projected to drive the demand for them in this region.
The U.K., Germany, Italy, and France are the major domestic markets for bioadhesives in Europe. The U.S. and Canada lead the North America bioadhesives market. China and Japan dominate the bioadhesives in Asia Pacific. However India, South Korea, Indonesia, and Malaysia are also considered as the prime bioadhesives markets in this region. On the other hand, the Latin America market for bioadhesives is led by Brazil.