Soy-Based Pressure Sensitive Adhesives Market to See 5.6% Annual Growth Through 2023

Industry Boosted by Demand in North America and Desire for Environmentally-Friendly Materials

July 30, 2019

WELLESLEY, Mass., July 30, 2019–Strong demand from North America is helping to drive growth in the global market for a new breed of cost-effective and environmentally-friendly adhesives, according to a report by BCC Research, “Soy-Based Pressure-Sensitive Adhesives: Trends and Global Markets.”

The market expects to see a compound annual growth rate (CAGR) of 5.6% through 2023, when it could be worth $8 million, according to the report

Major players in the market include Cargill, Franklin Adhesives and Polymers and Solenis.

Read the full report here: https://www.bccresearch.com/market-research/chemicals/soy-based-adhesives-market-report.html       

Research Highlights

• Market growth will be strongest in North America, which expects a CAGR through 2023 of 6.2%, followed by the Asia-Pacific region at 5.5% and the Rest of the World at 5.4%.
• In 2018, the market was valued at $6.1 million, and was led by North America, which was valued at $2.0 million.
• Market volume will increase at a CAGR of 5.4% through 2023, growing from 87.6 kilotons in 2018 to 113.7 kilotons in 2023.

“The demand for soy-based adhesives is forecast to increase worldwide in the coming years,” notes the report’s authors. “The product has emerged as a growing ‘green’ feedstock to replace petroleum-based chemicals in various industrial applications. Both the rise in petroleum prices and concerns with formaldehyde emissions have resulted in rising demand and development of soy-based adhesives, boosting sales of the product globally”

Upcoming Trends Point to Use in Wood, as a Latex Replacement and in Construction

The adhesive properties of soy-based products means they will likely be used in a broader range of applications in coming years, the report adds. Chief among those is with wood, where soy-based adhesives can be used with particleboard and medium-density fibreboard. Trends also point to the use of soy-based adhesives as a full or partial replacement for latex adhesives, in the construction and sealant market, and even in asphalt and built-up roof applications, where they can add bio-content.

Editors/reporters requesting analyst interviews should contact Sarah Greenberg at press@bccresearch.com.

Soy-Based Adhesives: Trends and Global Markets( CHM119A )
Publish Date: Jun 2019    

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