Bioadhesives Market

Henkel (Germany) and Arkema (Bostik SA) (France) are Leading Players in the Bioadhesives Market

The global bioadhesives market size is projected to grow from USD 5.6 billion in 2019 to USD 9.1 billion by 2024, at a CAGR of 10.0% between 2019 and 2024. The growing demand for the product in applications, such as paper & packaging, construction, woodworking, personal care, and medical coupled with their underlying growth is the key factor driving the bioadhesives industry growth.

Players including Henkel AG (Germany), Arkema S.A. (France), and DaniMer Scientific LLC (US) have adopted various strategies, such as investment & expansion and merger & acquisition between 2015 and 2019, to enhance their market shares and expand their global presence.

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Henkel (Germany) was the leading company within the global bioadhesives market in 2018. It has a diversified product portfolio with several investments in product innovation. Its customers can choose from a wide variety of bioadhesive products. It has a strong network for distributing and manufacturing adhesives with more than 185 production sites to meet the changing demands of the bioadhesives industry, worldwide. Henkel’s R&D activities are focused on reducing resource consumption and increasing or improving performance. Furthermore, the company is incorporating the use of digitized technologies in its R&D activities. These initiatives taken by Henkel are expected to prove beneficial for its growth over the next few years. The company also continuously focuses on its organic growth.

  • In September 2018, Henkel laid the foundation of its new Global Innovation Center for its Adhesive technologies business. The investment was valued at approximately USD 140 million and is expected to open by the end of 2020. The facility will be the company’s largest production, research, and development site worldwide. The initiative was taken with the intention to support the company’s strategy to offer innovative solutions and comprehensive service for adhesives, sealants, and functional coatings to its customers. 

Arkema (Bostik SA) (France)  is the manufacturer of specialty chemicals and advanced materials. It has a good width and depth for bioadhesives in its product offering. It has a strong customer base. But, the company has not made enough investments in terms of R&D. Bostik is the third-largest producer of adhesives in the world. In February 2015, it was acquired by Arkema. The acquisition was done with the intention to reinforce Arkema’s position in specialty chemicals and develop its High Performance Materials segment. It continuously focuses on its organic & inorganic growth for globalization and is trying to expand in Latin America, India, and Southeast Asia. The company invests in various programs to improve the quality of products, enhance the operational efficiency of its plants, and improve the levels of service to its customer base.

  • In November 2017, Arkema announced its acquisition of XL Brands, a leader in adhesives for resilient and soft flooring in the US. XL Brands offers various innovative and environmentally-friendly solutions that complement Arkema’s adhesives product range in the US.

Related Reports:

Bioadhesives Market by Type (Plant Based, Animal Based), Application (Paper & Packaging, Construction, Woodworking, Personal care, Medical), Region (APAC, North America, Europe, Middle East & Africa, South America) - Global Forecasts to 2024

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Report Code
CH 3015
RI Published ON
11/12/2019
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