Wood Adhesives Market Overview
The market for wood adhesives is expected to grow at a CAGR of about 4% globally during the forecast period. Wood Adhesives Market Overview: Wood adhesives are required for many wood assembly applications such as: B. Gluing edges, inserting dowels, gluing miters, connecting tongue and groove, and joining fingers. A variety of adhesives are used in woodworking applications, ranging from natural to synthetic, offering adhesion and other properties according to specific needs. Consumer spending on home décor and fine furnishings is on the rise as interest in improving living standards increases. As a result, the demand for aesthetically pleasing timbers such as lumber, plywood has increased significantly.
Recent Development:
In May 2021, Henkel invested in a new innovation center in Shanghai, China. The expansion aims toward strengthening its position in the APAC market. In February 2020, Henkel upgraded its innovation center in Sydney to enhance R&D.
Wood Adhesives Market Trends
Growth in the market is predicted to be boosted by rising refurbishment and renovation activities as well as rising construction rates. Additionally, government programmes to promote sustainable building have increased the demand for furniture made of wood and engineered wood for use in both residential and commercial applications, which is anticipated to boost demand for wood adhesives throughout the course of the forecast period.
The demand for furniture is anticipated to increase as a result of remodelling and renovation projects brought on by improving living standards. Growing office space and corporate building construction in emerging nations has influenced the need for wood furniture, which is anticipated to propel the expansion of the wood adhesives market.
The use of engineered wood panels has also increased as a result of people's growing concerns about the destruction of trees and global warming. An enormous amount of adhesives are needed in the production of engineered wood panels including oriented strand board, plywood, and particle board. For instance, veneers are combined with sticky resin to create plywood. As a result, the need for wood adhesives is projected to increase in response to the rising demand for wood panels.
The demand for bio-based wood adhesives is also predicted to increase as a result of increased consumer awareness of environmental degradation, expanding customer base, and improved & constant R&D activities. Over the forecast period, the abundance of raw materials for bio-based adhesives such starch, soy, and corn is anticipated to favourably impact the growth of the wood adhesives market.
However, the emissions of volatile organic compounds (VOCs) from commercial and industrial adhesive use are hazardous to the environment and human health. Several nations have established regulations to limit the amount of gaseous emissions during the usage of adhesives in order to control such industrial pollutants. Therefore, it is anticipated that the market's expansion would be constrained throughout the projected period by the industry's rigorous government restrictions.
For instance, the Environmental Protection Agency in the United States mandates compliance with the specified volatile organic compound requirements from producers and suppliers of adhesives and sealants.
This research provides an analysis of the industry trends in each of the sub-segments from 2018 to 2032 and estimates revenue growth at the global, regional, and national levels. Market Report Service Research has divided the global market for wood adhesives for this study based on product, application, substrate, and geography.
Product Outlook (Revenue, USD Million, 2018 - 2032)
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- Urea-formaldehyde (UF)
- Melamine urea-formaldehyde (MUF)
- Phenol-formaldehyde (PF)
- Isocyanates
- Polyurethane
- Polyvinyl acetate (PVA)
- Soy-based
- Others
Application Outlook (Revenue, USD Million, 2018 - 2032)
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- Flooring
- Furniture
- Doors & windows
- Housing components
- Others
Substrate Outlook (Revenue, USD Million, 2018 - 2032)
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- Solid wood
- Oriented strand board (OSB)
- Plywood
- Particleboard (PB)
- Medium-density fiberboard (MDF)
- High-density fiberboard (HDF)
- Others
Regional Outlook (Revenue, USD Million, 2018 - 2032)
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- North America
- Europe
- Asia Pacific
- Central & South America
- Middle East and Africa
