The dispersion adhesives market has been gaining momentum on account of growing need for temporary bonding solutions in the medical industry. Dispersion adhesives are primarily used for wound care applications such as bandages, dressings, surgical drapes, and tapes owing to their properties such as biocompatibility, breathability, and gentle adhesion. The growing prevalence of chronic wounds globally has been augmenting the demand for advanced wound care products that employ dispersion adhesives. The Global dispersion adhesives market is estimated to be valued at US$ 9.81 Mn in 2024 and is expected to exhibit a CAGR of 6.5% over the forecast period 2024 To 2031.
Key Takeaways
Key players operating in the Dispersion Adhesives Market Growth are Smith & Nephew plc, Aranz Medical Limited, eKare Inc., and WoundMatrix Inc. These players are focusing on new product launches and geographical expansion to gain a competitive edge in the market.
The key opportunities in the dispersion adhesives market include development of skin-friendly and gentler adhesives for medical tape applications and wearable biomedical devices. Manufacturers are investing heavily in R&D to develop eco-friendly and sustainable dispersion adhesive formulations.
Globally, the demand for dispersion adhesives is increasing majorly from North America and European region owing to higher healthcare spending and growing medical technologies industry. The Asia Pacific market is expected to witness fastest growth during the forecast period with increasing healthcare awareness and healthcare expenditure in countries like China and India.
Market Drivers
The growing geriatric population prone to chronic wounds such as leg ulcers, pressure ulcers is one of the major drivers responsible for rising demand of dispersion adhesives in wound care management. According to WHO stats, by 2050 over 2 billion people will be aged 60 years and above. This rapid rise in geriatric population base will lead to increasing demand of dispersion adhesives for wound care over the coming years.
PEST Analysis
Political: Dispersion adhesives market is governed by various government norms and regulations regarding raw material usage and manufacturing processes.
Economic: Rising disposable income, expanding construction and transportation industries have been fueling the demand for dispersion adhesives across countries.
Social: Growth in population and urbanization translates to increasing construction of residential and commercial buildings which consume dispersion adhesives.
Technological: Advanced techniques like hot melt coating, spraying, and slot-die coating allow for high-speed and precise application of dispersion adhesives. New raw materials are also being researched.
Regional Market Concentration
The Asia Pacific region holds the largest value share of the dispersion adhesives market currently. This can be attributed to the high economic growth witnessed by countries like China and India coupled with rising construction activities. Both countries have seen significant government investments and policies supporting infrastructure development.
Fastest Growing Region
The North American dispersion adhesives market is expected to expand at the fastest pace during the forecast period. This growth can be accredited to recovering construction sector in the US after economic recession along with policies promoting green building projects utilizing low VOC adhesives. Increased government funding for transport infrastructure like roadways and rail networks will further support adhesive demand from this region.
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