According to a research report published by SphericalInsights, the Global Wood adhesives Market Size was valued at USD 5.27 billion in 2021 and expected to reach USD 22.8 billion by 2030, at a Compound Annual Growth Rate (CAGR) of 4.8% during the forecast period. Major vendors in the Sika AG, 3M Company, Akzo Nobel NV, Bostik SA, HB Fuller, Jubilant Industries Ltd., Henkel AG, Minnesota, Pidilite Industries, The DOW Chemical Company, Franklin Adhesives and Polymers, KGaA
New York, United States, Feb. 14, 2023 (GLOBE NEWSWIRE) — According to a research report published by Spherical Insights & Consulting, the Global Wood Adhesives Market Size to grow from USD 5.27 billion in 2021 to USD 22.8 billion by 2030, at a Compound Annual Growth Rate (CAGR) of 4.8% during the forecast period.
The wood adhesives market has grown due to the increasing construction demands, and increased demands of furniture, and housing components manufacturing. There are advancements in new technologies to help ease the wood adhesives experience of people, which is expected to provide growth opportunities for the market during the forecast period.
Key Insights
The global wood adhesives market was valued at USD 5.27 Billion in 2021.
The market is growing at a CAGR of 4.8% from 2022 to 2030
The global wood adhesives market is expected to reach USD 22.8 Billion by 2030
The market is geographically divided into five regions: Europe, South America, the Asia-Pacific, North America, and the Middle East and Africa.
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On credit portfolios, the COVID-19 epidemic has had a negative effect. The enormous growth has hampered the solvency of customers and business in unemployment and interruption of economic activity. Central banks have adopted a proactive strategy of injecting money into the market by decreasing interest rates and implementing asset purchase programmes. With persistent geopolitical tensions, global trade battles, and sporadic hurricanes and earthquakes, managing and monitoring credit, market, liquidity, and operational risk across financial markets was challenging enough. Chief risk officers and their teams have had to revaluate outdated methods and assumptions used to manage and monitor risk due to the present pandemic crisis. The global repercussions of COVID-19 have demonstrated the significance of interconnection in international cooperation. As a result, many governments have been hurrying to find, assess, and buy trustworthy AI-powered solutions.
Browse 101 market data Tables and 73 Figures spread through 220 Pages and in-depth TOC on “Global Wood Adhesives Market Size, Share, and COVID-19 Impact Analysis, By Product Type (Polyurethane, Isocyanates, Urea-formaldehyde, Phenol-formaldehyde, Polyvinyl Acetate, Epoxy and Others), By Technology (Water-Based, Solvent-Based and Others), By Substrate (Plywood, Fiberboards, Oriented Standard Boards, Solid Woods and Others), By End User (Housing Components, Doors and Windows, Flooring, Furniture and Others) and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2021 – 2030.” View a detailed Table of Content here – https://www.sphericalinsights.com/table-of-contents/wood-adhesives-market
The urea-formaldehyde segment to account for the largest market size during the forecast period
Based on the product type, the wood adhesives market growth is categorized into polyurethane, isocyanates, urea-formaldehyde, phenol-formaldehyde, polyvinyl acetate, epoxy and others. The urea-formaldehyde segment to account for the largest market size during the forecast period. The demand for urea-formaldehyde is increasing because it exhibits outstanding flexural modulus and high tensile strength due to which it is widely used in particleboard and interior-grade plywood.
The solvent-based segment to hold a higher CAGR during the forecast period
Based on the technology, the wood adhesives market share is categorized into water-based, solvent-based and others. The solvent-based segment to hold a higher CAGR during the forecast period. Solvent-based adhesives come in liquid form. Solvent-based adhesives dry quickly because the solvent evaporates when introduced into a polymer solution due to which the demand for solvent-based adhesives accounts for a major share in the growth of the market.
The oriented strand boards segment to hold a higher CAGR during the forecast period
Based on the substrate, the wood adhesives market size is categorized into plywood, fiberboards, oriented standard boards, solid woods and others. The oriented strand boards segment to hold a higher CAGR during the forecast period. The increased demand for oriented strand boards is because it offers resistance against water when the dried strands are combined with glue and wax to build a board.
The furniture segment to hold a higher CAGR during the forecast period.
Based on the end user, the wood adhesives industry is categorized into housing components, doors and windows, flooring, furniture and others. The furniture segment to hold a higher CAGR during the forecast period. The rising demand for wood adhesives to be used in furniture manufacturing since they provide excellent bonding abilities accounts for a major share in the growth of the wood adhesives market.
Wood adhesives Market Report Scope: –
Report Metric
Details
Market Size 2030
USD 22.8 Billion
CAGR
4.8% (2020-2030)
Historical Data
2019-2020
Base Year
2021
Forecast Period
2022-2030
Forecast Units
Value (USD Billion)
Segments Covered
By Product Type, By Technology, By Substrate, By End User , By Region
Report Coverage
Drivers, Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Geographies Covered
North America, Europe, Asia-Pacific, Latin America, the Middle East, Africa and Rest of the World
Key Companies Profiled/Vendors
Sika AG, 3M Company, Akzo Nobel NV, Bostik SA, HB Fuller, Jubilant Industries Ltd., Henkel AG, Minnesota, Pidilite Industries, The DOW Chemical Company, Franklin Adhesives and Polymers, KGaA
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Europe to hold a higher CAGR during the forecast period.
The Global Wood Adhesives Market has been segmented into five major regions: North America, Europe, Asia-Pacific, South America, The Middle East and Africa. Asia Pacific is estimated to account for the highest market share in 2022. Asia Pacific is expected to be the largest market. Rapid urbanization in the region is responsible for the growth of the wood adhesives market.
Market Segment
This study forecasts global, regional, and country revenue from 2019 to 2030. The market is segmented by
Global Wood Adhesives Market, By Product Type
Polyurethane
Isocyanates
Urea-formaldehyde
Phenol-formaldehyde
Polyvinyl Acetate
Epoxy
Others
Global Wood Adhesives Market, By Technology
Water-Based
Solvent-Based
Others
Global Wood Adhesives Market, By Substrate
Plywood
Fiberboards
Oriented Standard Boards
Solid Woods
Others
Global Wood Adhesives Market, By End User
Housing Components
Doors and Windows
Flooring
Furniture
Others
Regions Covered
North America
Europe
Asia-Pacific
Latin America
The Middle East and Africa
List of Key Market Players
Sika AG
3M Company
Akzo Nobel NV
Bostik SA
HB Fuller
Jubilant Industries Ltd.
Henkel AG
Minnesota
Pidilite Industries
The DOW Chemical Company
Franklin Adhesives and Polymers
KGaA
Other
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Some Recent Developments News in the Global Wood adhesives Market:
USA, In May 2021, H.B. Fuller will strengthen their engineering adhesive applications by concentrating on high-performance adhesives.
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FAQs are covered
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What are the major factors driving Wood adhesives market?
About the Spherical Insights
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