Global Wood Adhesives Market

Global Wood Adhesives Market Size, Share, Growth Analysis, By Product(Urea-formaldehyde (UF), Melamine urea-formaldehyde (MUF)), By Application(Flooring, Furniture) - Industry Forecast 2023-2030


Report ID: SQMIG15A2230 | Region: Global | Published Date: February, 2024 | Pages: 157 | Tables: 70 | Figures: 66

Global Wood Adhesives Market Insights

Wood Adhesives Market size was valued at USD 4.1 billion in 2021 and is poised to grow from USD 4.24 billion in 2022 to USD 5.54 billion by 2030, growing at a CAGR of 10% in the forecast period (2023-2030).

The expansion of global engineered wood-based panel production serves as a major driving force for the market. Engineered wood-based panels like plywood, oriented strand board, and particle board require substantial amounts of adhesives in their manufacturing process. For instance, plywood is created by bonding veneers with adhesive. Many wood panel manufacturers, particularly in the Asia Pacific region, rely on in-house adhesive production for their products. However, smaller to medium-sized panel manufacturers often lack sufficient adhesive production and quality control capabilities. Adhesive formulation and quality oversight often hinge solely on the expertise and experience of operators.

The market is characterized by stringent regulations pertaining to formaldehyde emissions during the production of wood-based panels. This situation is expected to create opportunities for the growth of soy-based, polyurethane, and polyvinyl acetate adhesives over the coming years. The increasing frequency of refurbishment and renovation projects, coupled with rising construction endeavors, is set to propel market growth. Furthermore, government initiatives that prioritize sustainable construction have boosted the demand for both engineered and natural wood products, such as furniture, for use in residential and commercial applications. This trend is expected to drive the demand for wood adhesives throughout the forecast period.

US Wood Adhesives Market is poised to grow at a sustainable CAGR for the next forecast year.

Market snapshot - 2023-2030

Global Market Size

USD 4.1 billion

Largest Segment

Urea-formaldehyde (UF)

Fastest Growth

Urea-formaldehyde (UF)

Growth Rate

10% CAGR

Global wood adhesives market ($ Bn)
Country Share for Asia Pacific Region (%)
Global wood adhesives market By Product ($ Bn)
Global wood adhesives market By Application (%)

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Global Wood Adhesives Market Segmental Analysis

The Wood Adhesives Market Is segmented on the basis of Product Outlook, Application, Substrate, and Region. We are analyzing the market of these segments to identify which segment is the largest now and in the future, which segment has the highest growth rate, and the segment which offers the opportunity in the future. Based on Product Outlook, the market is segmented as, Urea-formaldehyde (UF), Melamine urea-formaldehyde (MUF), Phenol-formaldehyde (PF), Isocyanates, Polyurethane, Polyvinyl acetate (PVA), Soy-based, Others. Based on Application the market is segmented as, Flooring, Furniture, Doors & windows, Housing components, others. Based on Substrate the market is segmented as Solid wood, Oriented strand board (OSB), Plywood, Particleboard (PB), Medium-density fiberboard (MDF), High-density fiberboard (HDF), Others. Based on Regional the market is segmented as, North America, Asia Pacific, and Latin America.

Wood Adhesives Market Analysis By Product

The Urea-formaldehyde (UF) segment held a dominant position in the market, contributing to over 37% of the revenue share in 2022. This can be attributed to its widespread use as a non-transparent thermosetting resin for wood applications. UF resins exhibit excellent properties such as high tensile strength and flexural modulus. To control flow, viscosity, and resin penetration in wood, fillers and extenders are incorporated into the resin. UF adhesives find extensive application in the production of interior-grade plywood and particleboard. However, a notable drawback of UF adhesives lies in their limited water resistance.

Melamine urea-formaldehyde (MUF) resins stand out for their superior water-resistant characteristics compared to other resin types. A recent trend indicates the growing adoption of MUF resin adhesives for activities like finger jointing of sawmill waste timbers and the production of flooring tiles from bamboo and bamboo laminates. These resins have gained popularity for their suitability in exterior and semi-exterior panel applications.

The soy-based adhesive segment is projected to experience the fastest Compound Annual Growth Rate (CAGR) of 7.9% in terms of revenue from 2023 to 2030. These adhesives are progressively replacing petrochemical-based counterparts in the woodworking industry. Renowned for their environmental friendliness, soy-based adhesives enhance overall wood panel performance.

Isocyanates exhibit impressive moisture resistance and are employed in bonding agricultural cellulosic wastes like bagasse and straw. Commonly used isocyanates include methylene diphenyl diisocyanate (MDI) and toluene diisocyanate (TDI). However, it's important to note that isocyanates can cause skin, eye, and respiratory irritation when used in high concentrations.

Wood Adhesives Market Analysis By Application

The furniture application segment took the lead in the market, accounting for a revenue share exceeding 46% in 2022. This can be attributed to the increasing adoption of wood-based panels, known for their lightweight nature, superior finishing, and durability compared to traditional wood. Unlike glass, these panels find utility in crafting robust and durable interior decor items, which is expected to positively influence the growth of this segment in the coming seven years.

Anticipated to exhibit the most rapid growth, the flooring application segment is projected to achieve a CAGR of 6.0% in terms of revenue from 2023 to 2030. The upsurge in per capita disposable income along with a heightened demand for residential space is set to drive the demand for flooring solutions. Plywood floors offer an attractive balance between aesthetics and cost-efficiency, catering to customer preferences. Additionally, the increasing frequency of restoration and refurbishment projects in developed economies is likely to further elevate the need for wooden flooring, thereby contributing to the growth of the adhesive industry.

Wood adhesives are finding increased application in residential and commercial doors and windows to enhance waterproofing properties and overall texture and appeal. The product also plays a role in the manufacturing of window films by enhancing their UV filtration capabilities.

Global wood adhesives market By Application, 2021 (%)

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Global Wood Adhesives Market Regional Insights

Asia Pacific emerged as the dominant force in the market, capturing a revenue share surpassing 47% in 2022. This ascendancy can be attributed to the rapid surge in population across Asia Pacific countries, coupled with a robust demand for cost-effective housing solutions. Government initiatives promoting fundamental amenities like food and shelter have further catalyzed the expansion of the construction sector in this region. Notably, China holds significant economic importance due to its position as one of the world's largest wood-based panel producers. The well-established wood panel industry in the region, complemented by a consistent supply of wood products, is poised to provide an impetus to the growth of the wood adhesives market. Moreover, the pace of urbanization and industrialization is expected to fuel market growth throughout the forecast period.

Within Europe, Germany stands out as a prominent player in wood adhesives production. The sector has experienced rapid growth in recent years, driven by robust demand from the furniture and construction industries. Germany's robust economic development has greatly benefited the furniture sector, leading to increased private consumption. However, it's important to note that the macroeconomic instability arising from the European debt crisis could potentially hinder growth across various industrial domains in Germany, including furniture and housing construction. Consequently, this economic uncertainty may have an adverse effect on the wood adhesives industry over the forecast period.

Global wood adhesives market By Geography, 2023-2030
  • Largest
  • Fastest

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Global Wood Adhesives Market Dynamics

Wood Adhesives Market Drivers

Growing Construction Industry:

  • The expanding construction sector, driven by urbanization and infrastructure development, fuels the demand for wood adhesives in applications like furniture, flooring, and housing components.

Increasing Furniture Production:

  • Rising global demand for furniture, coupled with innovative designs and materials, propels the use of wood adhesives to enhance bonding in intricate furniture pieces.

Wood Adhesives Market Restraints

Environmental Concerns:

  • Traditional solvent-based adhesives may pose environmental risks due to volatile organic compound (VOC) emissions, prompting regulations that limit their use and encourage adoption of eco-friendly alternatives.

Price Volatility of Raw Materials:

  • Fluctuations in the prices of raw materials used in adhesive production, such as resins and polymers, impact the cost structure and profitability of manufacturers.

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Global Wood Adhesives Market Competitive Landscape

The global wood adhesives market exhibits a competitive landscape with the presence of several key players striving to gain a strong market foothold. These companies focus on innovation, product differentiation, strategic collaborations, and expansions to maintain their competitiveness and capture market share. The market's dynamics are shaped by factors like technological advancements, environmental regulations, and consumer preferences for sustainable solutions.

Companies are engaged in research and development activities to formulate adhesives with enhanced bonding performance, reduced environmental impact, and compliance with stringent regulations. Innovation is geared towards developing adhesives that offer improved durability, faster curing times, and compatibility with various wood types.

Wood Adhesives Market Top Player’s Company Profile

  • H.B. Fuller
  • Henkel AG & Co., KGaA
  • Bostik S.A.
  • 3M
  • Sika AG
  • Ashland, Inc.
  • Pidilite Industries Ltd.
  • Jubilant Industries Ltd.
  • AkzoNobel N.V.
  • Franklin Adhesives & Polymers.
  • DowDuPont Inc.

Wood Adhesives Market Recent Developments

  • January 2023: Sika launched MB EZ Rapid, a single-component, rapid-drying moisture barrier, adhesive substrate consolidator for all residential and commercial floor covering installations. Sika MB EZ Rapid suits plywood, concrete, gypsum, and old cutback adhesive.
  • July 2022: Henkel Adhesive Technologies expands its timber construction solutions expertise by investing in 3RT in Melbourne, Australia. Henkel intends to use the investment to expand its engineered wood business and to accelerate the implementation of sustainable future-oriented technology.

Global Wood Adhesives Key Market Trends

Growing Demand due to Increasing Construction Activities:

  • Adhesive, also known as glue, mucilage, or paste, is any non-metallic substance applied to one or both surfaces of two items that bind them together and resist their separation. Wood adhesives are specially made to bind wooden substances.
  • Wood adhesives are produced using natural and synthetic sources. Natural glues are obtained from plant or animal bodies with low binding capacity compared to synthetic adhesives.
  • The growing construction activity is increasing the wood application, creating the scope for wood adhesives.

Global Wood Adhesives Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Component types team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.

According to our Global wood adhesives market analysis, the expanding construction and furniture industries are a prime growth driver. As wood is a widely used material in these sectors, the demand for effective adhesives is increasing. The market is segmented based on product type, application, and region. Product types include urea-formaldehyde, melamine-formaldehyde, phenol-formaldehyde, and others. Applications encompass furniture, flooring, cabinets, structural panels, and more. North America and Europe dominate the market due to well-established construction sectors, while the Asia-Pacific region is rapidly growing due to urbanization and infrastructure development. The market's growth is attributed to the rising trend of using eco-friendly and sustainable adhesives, advancements in adhesive technology, and increasing consumer awareness about environmentally friendly products. Additionally, the need for stronger and durable wood bonding solutions is further driving market expansion.

Report Metric Details
Market size value in 2021 USD 4.1 billion
Market size value in 2030 USD 5.54 billion
Growth Rate 10%
Base year 2021
Forecast period 2023-2030
Forecast Unit (Value) USD Billion
Segments covered
  • Product
    • Urea-formaldehyde (UF), Melamine urea-formaldehyde (MUF), Phenol-formaldehyde (PF), Isocyanates, Polyurethane, Polyvinyl acetate (PVA), Soy-based, and Others.
  • Application
    • Flooring, Furniture, Doors & windows, Housing components, and Others
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • H.B. Fuller
  • Henkel AG & Co., KGaA
  • Bostik S.A.
  • 3M
  • Sika AG
  • Ashland, Inc.
  • Pidilite Industries Ltd.
  • Jubilant Industries Ltd.
  • AkzoNobel N.V.
  • Franklin Adhesives & Polymers.
  • DowDuPont Inc.
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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Global Wood Adhesives Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Global Wood Adhesives Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Global Wood Adhesives Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Wood Adhesives Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Wood Adhesives Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Global Wood Adhesives Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

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FAQ's

Wood Adhesives Market size was valued at USD 4.1 billion in 2021 and is poised to grow from USD 4.24 billion in 2022 to USD 5.54 billion by 2030, growing at a CAGR of 10% in the forecast period (2023-2030).

The global wood adhesives market exhibits a competitive landscape with the presence of several key players striving to gain a strong market foothold. These companies focus on innovation, product differentiation, strategic collaborations, and expansions to maintain their competitiveness and capture market share. The market's dynamics are shaped by factors like technological advancements, environmental regulations, and consumer preferences for sustainable solutions. 'H.B. Fuller', 'Henkel AG & Co., KGaA', 'Bostik S.A.', '3M', 'Sika AG', 'Ashland, Inc.', 'Pidilite Industries Ltd.', 'Jubilant Industries Ltd.', 'AkzoNobel N.V.', 'Franklin Adhesives & Polymers.', 'DowDuPont Inc.'

The expanding construction sector, driven by urbanization and infrastructure development, fuels the demand for wood adhesives in applications like furniture, flooring, and housing components.

Adhesive, also known as glue, mucilage, or paste, is any non-metallic substance applied to one or both surfaces of two items that bind them together and resist their separation. Wood adhesives are specially made to bind wooden substances.

Asia Pacific emerged as the dominant force in the market, capturing a revenue share surpassing 47% in 2022. This ascendancy can be attributed to the rapid surge in population across Asia Pacific countries, coupled with a robust demand for cost-effective housing solutions. Government initiatives promoting fundamental amenities like food and shelter have further catalyzed the expansion of the construction sector in this region. Notably, China holds significant economic importance due to its position as one of the world's largest wood-based panel producers. The well-established wood panel industry in the region, complemented by a consistent supply of wood products, is poised to provide an impetus to the growth of the wood adhesives market. Moreover, the pace of urbanization and industrialization is expected to fuel market growth throughout the forecast period.

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Global Wood Adhesives Market

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