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 2024-2031

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

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FAQs

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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