Albany, NY -- (SBWIRE) -- 11/05/2018 -- 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.
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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.
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.
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Bio-based Adhesives for Packaging Market – Regional Outlook:
Geographically, the bio-based adhesives for packaging market have been segmented on the basis of region into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa (MEA). North America and Europe are expected to collectively dominate the market throughout the forecast period. However, many bio-based adhesive manufacturing companies are investing in Asia Pacific to tap the demand and potential for bio-based adhesives for packaging. Latin America and Middle East & Africa are expected to witness sluggish growth over the forecast period.