4th October 2019 – Global Wood Adhesives Market is expected to reach USD 6.18 billion by 2025. Wood adhesives are also termed as wood glue that strongly bonds sections of wood together by means of surface attachments. It plays important role in converting all sizes and types of wood into functional products. The adhesives increase the stiffness and resistant strength of the composite sheet. The Wood Adhesives Market is estimated to grow at a significant CAGR of 4.5 % over the forecast period as the scope and its applications are rising enormously across the globe.
Growth in renovation and refurbishing activities, development of the construction, furniture, and woodworking activities, and growing urban populace are documented as major factors of Wood Adhesives Market that are estimated to enhance the growth in the years to come. However, presence of alternatives and strict environmental policy may restrain overall market growth in the coming years. Wood Adhesives industry is segmented based on resin type, technology, application, and region.
Natural resin adhesives, hot melt adhesives, casein, polyvinyl acetates, blood aluminum glue, resorcinol and phenol-resorcinol formaldehyde, starch-based, phenol formaldehyde, protein-based, melamine formaldehyde, synthetic resin adhesives, epoxy, and urea formaldehyde are the resin types that could be explored in Wood Adhesives in the forecast period.
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Synthetic resin adhesive sector accounted for the substantial market share of Wood Adhesives in 2016 and is estimated to lead the overall market in the coming years. This may be because of its extraordinary properties like consumer friendly usage and rapid curing. It is exclusively used in cabinets, furniture, plywood, and flooring.
The enhanced technologies used in Wood Adhesives are solvent less, solvent-based, water-based, and others that could be explored in the forecast period. The market may be categorized based on applications like windows & doors, furniture, cabinet, plywood, flooring & decks, particle board, and others like wooden toys, marine, ceilings, tile board, sidings, and shutters that could be explored in the forecast period. Furniture sector accounted for the substantial market share of Wood Adhesives and is estimated remain dominant in the coming years. This may be because of growing urbanization in ASEAN countries.
Globally, Asia Pacific accounted for the substantial market share of Wood Adhesives in terms of value and volume and is estimated to lead the overall market in the coming years. The reason behind the overall market share could be rising activities like woodworking, new construction, and housing projects, presence of key manufacturers, rise in export activities, and growing furniture manufacturing business. The developing countries like India and China are the major consumers of Wood Adhesives in this region.
Europe and North America are also estimated to have a positive influence on the future growth. North America is the second largest region with significant market share. This may be because of higher expenditure on refurbishment & renovation activities. However, Europe is estimated to grow at fastest pace with the highest CAGR in the foremost period.
The key players of Wood Adhesives Market are Pidilite Industries, Henkel AG & Co. KGaA, AkzoNobel N.V., 3M Company, Ashland Inc., Bostik SA, Sika AG, and H.B. Fuller. These players are concentrating on inorganic growth to sustain themselves amongst fierce competition. As companies all over the world have to believe that alliance with a market would permit them proportional market existence and authority to declare the leadership position.
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