Wood Adhesives Market

Wood Adhesives Market Size-(2024-2029)

The Global Wood Adhesives Market was worth US$ 6.08 billion in 2023 and is anticipated to reach a valuation of US$ 8.20 billion by 2029 and it is predicted to register a CAGR of 5.12% during the forecast period 2024-2029.

A variety of adhesives are employed for woodworking applications that range from natural to synthetic, providing adhesion and other properties according to specific requirements. Manufacturers are using wood adhesives that have better resistance to the moisture content of the wood. The use of wood adhesives has also resulted in lower overall product and labor costs due to the relative ease of application and supply of raw materials. In recent decades, green materials have been employed more widely as consumers become aware of the consequences associated with using products derived from petrochemicals. In addition, strict regulations on worldwide emissions standards have pushed manufacturers to develop green adhesive products.

MARKET DRIVERS AND RESTRAINTS:

One of the main drivers of the call for the global wood adhesives market is the rapid expansion of the construction industry in developing countries in the Asia-Pacific region. The rapid recovery in the housing sector along with commercial and infrastructure development is predicted to create a significant call for wood adhesives business over the foreseen period. The market is predicted to grow during the calculated period because of the escalated construction activity. With the increase in disposable income, there has been a significant rise in consumer spending on home decor and luxury furniture products that is predicted to stimulate the worldwide market for wood adhesives. The rising trend towards the use of lightweight materials should further fuel the call for wood adhesives. The augmenting call to increase construction activity is stimulating market expansion.

This is due to the rising call of wooden furniture and the expansion of the housing sector. With the escalating focus on improving living standards, consumer spending on interior design and luxury furniture products has escalated. Therefore, there has been a significant demand in the call for materials such as wood, plywood and others with greater aesthetic appeal. The use of adhesives for bonding offers a number of additional advantages compared to other conventional methods, such as faster drying and setting times, improved adhesion, compatibility for use with various substrates and greater resistance, aesthetic appeal compared to the use of metal fasteners and other joining methods.

On the other hand, the volatility of raw material prices should hinder market expansion. One of the main challenges facing the world market for wood adhesives is the raw material for the production of these adhesives derived from petroleum or crude oil. Price volatility, therefore, affects the cost of manufacturing wood glues, which is a major problem for manufacturers. Another important factor limiting call in the world market for wood adhesives is the use of alternative materials such as plastics and polymers, which are predicted to hinder expansion in the wood adhesives business.

WOOD ADHESIVES MARKET REPORT COVERAGE

MARKET SEGMENTATION:

Wood Adhesives Market - By Resin Type:

• Natural
• Synthetic

Depending on the type, the synthetic resin is determined to develop a substantial portion in the global wood adhesives market, in terms of volume. The synthetic resin formulation is known to enhance the end-use performance of wood adhesives. These are added in several woodworking applications.

Wood Adhesives Market - By Application:

• Flooring & Decks
• Plywood
• Furniture
• Cabinet
• Particle Board
• Windows & Doors

In 2020, the furniture segment held a substantial portion of the global wood adhesives market, followed by the plywood segment, which recorded the second-largest share, due to the use of wood and plywood in the woodworking industry.

MARKET REGIONAL ANALYSIS:

The Wood Adhesives Report includes the segmentation of Regions with their respective Countries.

• North America Wood Adhesives Industry includes the U.S. and Canada.

• Europe's Wood Adhesives Industry includes the UK, France, Spain, Germany, Italy, Russia, Sweden, Denmark, Switzerland, Netherlands, Turkey, Czech Republic & Rest of Europe.

• Asia Pacific Wood Adhesives Industry includes India, China, Japan, South Korea, Australia & New Zealand, Thailand, Malaysia, Vietnam, Philippines, Indonesia, Singapore & Rest of APAC.

• Latin America Wood Adhesives Industry includes Brazil, Mexico, Argentina, Chile & Rest of LATAM.

• Middle East & Africa Wood Adhesives Industry includes KSA, UAE, Israel, the rest of GCC countries, South Africa, Ethiopia, Kenya, Egypt, Sudan, and the rest of MEA.

The Asia-Pacific region is predicted to be the largest market for wood adhesives. In this region, China and India are considered the largest consumers of these adhesives. Expansion in furniture manufacturing and escalated export activities are predicted to stimulate the call for wood adhesives in ASEAN countries. The progressions in the construction sector with the increasing urbanization and industrialization are likely to fuel the call for wood adhesives in the area. North America and Europe are foreseen to experience moderate expansion during the outlook period. Significant investments in renovation and construction activities in the region are predicted to stimulate market calls. Regions such as Latin America the Middle East and Africa are predicted to be high-expansion, low-volume regions and to experience relatively high expansion during the calculated period. Japan is predicted to experience slow expansion in the global wood adhesives market during the foreseen period.

MARKET KEY PLAYERS:

1. Henkel AG & Co. KGaA
2. H.B. Fuller
3. 3M Company
4. Ashland Inc
5. Sika A.G
6. The Dow Chemical Company
7. AkzoNobel N.V
8. Bostik SA
9. Pidilite Industries
10. Huntsman Corporation

MARKET RECENT DEVELOPMENTS:

• The company entered the wood glue category with the launch of "Araldite Carpenter". The launch is aimed at the masses, contractors, and carpenters, who are the true users of the product.
• German major Henkel has quietly escalated its presence in adhesives. While its competitor Pidilite is best known for its consumer-oriented brands like Fevikwik and Fevicol, Henkel is strong in the industrial adhesives segment, providing solutions to industries such as automotive, metals, packaging, and aerospace.