Dispersion adhesives are synthetic-polymer-based adhesives used for joining various materials such as cloth, paper, and plastics. These adhesives find wide applications in various end-use industries including woodworking, packaging, construction, automotive, furniture, footwear, and medical. In the medical sector, dispersion adhesives are extensively used for bonding wound care products such as bandages, gauzes, patches, and drapes.
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 are Smith & Nephew plc, Aranz Medical Limited, eKare Inc., and WoundMatrix Inc. Smith & Nephew plc is one of the leading players in medical adhesives with strong capabilities in advanced wound management products.
The Dispersion Adhesives Market Size is expected to witness significant growth owing to rising demand for wound care products from an aging population and increasing prevalence of chronic wounds and burns. According to the National Center for Biotechnology Information, chronic wounds impact approximately 6.5 million patients in the US annually, imposing a huge economic burden of $25 billion per year on the healthcare system.
Geographically, the market is anticipated to be dominated by North America over the forecast period owing to the expanding wound care sector and prevalence of diabetic foot ulcers in the region. However, Asia Pacific is estimated to emerge as the most lucrative market owing to improving healthcare infrastructure and increasing expenditure on medical applications.
Market key trends
One of the key trends gaining traction in the dispersion adhesives market is the rising demand for bio-based and sustainable adhesive technologies. Regulatory pushes and consumer preference for eco-friendly products are encouraging manufacturers to develop bio-derived and plant-based dispersion adhesive alternatives. Leading players are investing in R&D to offer adhesive solutions with reduced volatile organic compound (VOC) emissions and enhanced sustainability without compromising on performance. This is expected to boost the market growth while making important contributions towards environmental sustainability.
Porter’s Analysis
Threat of new entrants: Dispersion adhesives market requires high R&D investments and compliance with stringent regulations which increases entry barriers. Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitutes and undifferentiated products. Bargaining power of suppliers: Suppliers have moderate bargaining power due to availability of substitutes and presence of many suppliers. Threat of new substitutes: Threat of new substitutes is moderate as dispersion adhesives have applications as tissue adhesives and are difficult to replace. Competitive rivalry: Market players focus on new product launches and innovations to gain competitive edge.
Geographical Regions
North America dominates the global dispersion adhesives market due to established healthcare infrastructure and rising healthcare spending in the region. Asia Pacific is expected to be the fastest growing region on account of expanding wound care markets in China and India along with growing awareness about advanced wound care products.