Global Wood Adhesives Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028
Wood Adhesives Market Report is segmented on the basis of resin type, technology, application, and region.
Wood Adhesives Market: Overview
“The Wood Adhesives Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”
Wood adhesives have excellent bonding strength, chemical resistance, and weather-resistant properties, and are used to bond timber, plywood, and other products to provide greater aesthetic appeal.
Wood Adhesives Market: Dynamics
Increasing construction activities, new housing projects, and other woodworking activities, along with growth in interiors and home furnishing are some of the major factors projected to fuel the growth of the target market.
In addition, increasing consumer spending on home decor and furniture and growing demand for lightweight materials are some other factors projected to drive the growth of the target market.
Moreover, shifting preference to greater aesthetic appeal and increasing R&D activities to produce high-performance and heat-resistant wood adhesives are expected to create new opportunities for growth of the global market over the forecast period.
However, stringent environmental legislation regarding carbon emissions may hamper demand for the products and restrain the growth of the global market over the forecast period.
For instance, ARB (Air Resources Board) issued a document in the US for defining RACT (Reasonably Available Control Technology) and Best Available Retrofit Control Technology (BARCT) to keep a check on the pollution caused by adhesive and sealants application.
In addition, environmental acts include the Planning and Development Act 2000, Environmental Protection Agency Act 1992, Protection of the Environment Act 2003, and others for pollution prevention and control.
The latest trend observed in the market is that demand for bio-based wood adhesives is increasing day by day. For example, Soy-Based polyols can be used in polyurethane adhesives formulation.
Wood Adhesives Market: Segment Analysis
Among the resin type segments, the synthetic resin segment is expected to account for a significant revenue share in the global market.
Among the technology segments, the solvent-based segment is estimated to account for a major revenue share and is expected to maintain its dominance over the forecast period.
Among the application segments, the furniture segment is expected to hold a significant revenue share in the global market over the forecast period.
Wood Adhesives Market: Regional Analysis
The wood adhesives market in North America is expected to account for the major share in terms of revenue as compared to other regions.
This can be attributed to increasing construction activities, along with increasing interior remodeling or renovation activities in countries in the region.
Furthermore, the Asia Pacific wood adhesives market is expected to account for the second-highest market share, owing to high construction spending on renovation & refurbishment activities and increasing focus on green buildings in countries in the region.
In addition, growing urbanization, industrialization, increasing disposable income, and changing preferences of individuals in various developing countries are some factors expected to trigger demand for wood adhesives.
In addition, superior production techniques due to technological progress, coupled with the development of non-hazardous and eco-friendly products with the aim of reducing the overall wastage are expected to propel the growth of the target market over the next 10 years.
Wood Adhesives Market Segmentation:
Segmentation by Resin Type:
- Natural Resin Adhesives (Animal-based and Plant-based)
- Synthetic Resin Adhesives (Thermosetting Resin Adhesives, Thermoplastic Resin Adhesives, and Others)
Segmentation by Technology:
Segmentation by Application:
- Flooring & Decks
- Windows & Doors
Segmentation by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- Henkel AG & Co. KGaA
- 3M Company
- Sika AG
- B. Fuller
- Ashland Inc.
- Bostik SA
- Akzonobel N.V.
- The DOW Chemical Company
- Pidilite Industries Limited
- Jubilant Industries
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