Dublin, Sept. 14, 2023 (GLOBE NEWSWIRE) -- The "Timber Laminating Adhesives Market by Resin type (MF, PRF, PU, EPI), Application (Floor Beams, Roof Beams, Window & Door Headers, Trusses & Supporting Columns), End - use (Residential, Nonresidential) and Region - Global Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The timber laminating adhesives market is set to grow substantially, with a projected size of USD 1,331 million by 2028, showcasing a remarkable CAGR of 6.8% from USD 957 million in 2022. Europe is at the forefront of this growth, being the largest contributor in terms of both value and volume in 2022.
Europe's Sustainable Construction Drive
Europe boasts a robust and thriving construction industry that encompasses diverse projects, ranging from residential and commercial buildings to critical infrastructure developments. Timber laminating adhesives play a pivotal role in modern construction, enabling the creation of engineered wood products that offer superior strength and versatility. The region's strong commitment to sustainability and environmental responsibility aligns well with timber's renewable nature.
Timber laminating adhesives contribute to sustainable construction by facilitating the use of engineered wood products, optimizing wood utilization, and reducing construction projects' carbon footprint. The rising demand for green building certifications, such as LEED (Leadership in Energy and Environmental Design), has further fueled the need for sustainable construction materials, including timber laminating adhesives.
Floor Beams: The Fastest Growing Application Segment
Engineered wood floor beams, often crafted using timber laminating adhesives, offer exceptional structural efficiency. Designed to bear substantial loads while using minimal material, these beams result in cost savings and reduced environmental impact. This efficiency is in line with the growing emphasis on sustainable construction practices and resource optimization.
Contemporary construction trends favor lightweight materials that streamline processes and decrease overall structural weight. Timber laminating adhesives enable the production of engineered wood products significantly lighter than traditional solid wood beams, simplifying transportation, handling, and installation.
US Leads the Market
In the country-specific context, the United States is anticipated to be the largest market for timber laminating adhesives during the forecast period. The US boasts a vast and diverse construction industry encompassing residential, commercial, industrial, and infrastructure projects. Timber laminating adhesives find applications across various sectors, including residential housing, commercial buildings, bridges, and more.
The US has seen significant modernization and renovation projects necessitating innovative construction solutions. Timber laminating adhesives offer a flexible and efficient means to upgrade and repurpose existing structures, driving market demand. Moreover, stringent building codes and safety regulations in the US are met with reliable bonding solutions provided by timber laminating adhesives, enhancing the structural performance of timber components.
Premium Insights:
- Timber Laminating Adhesives Witnessing High Demand from Developed Economies
- Polyurethane Resin to Register Highest CAGR During Forecast Period
- Floor Beams Segment to Dominate Market During Forecast Period
- China Dominates Timber Laminating Adhesives Market in Asia-Pacific
- Emerging Countries to Grow at Higher CAGR
- India to Emerge as Lucrative Market for Timber Laminating Adhesives
Market Dynamics:
Drivers:
- Increasing Use in Non-Residential Sector
- Growing Demand in Major Emerging Economies
- Shift Toward Sustainable and Eco-Friendly Construction
- Increasing New Construction Activities
- Rise in Renovation and Remodeling Projects
Restraints:
- Volatility in Raw Material Prices
Opportunities:
- Demand for Low-VOC Adhesives
- Rising Demand in Europe and North America
Challenges:
- Stringent Regulatory Policies
Companies Mentioned:
- 3M
- Arkema (Bostik)
- Akzo Nobel N.V.
- Astral Adhesives
- Beardow Adams
- Bison International Bv
- Britannia Adhesives
- Buhnen Adhesive Systems
- Cattie Adhesives
- Collano Ag
- Dow Inc.
- Dap Products Inc.
- Follmann GmbH & Co. Kg
- Franklin International
- Henkel AG & Co. KGaA
- H.B. Fuller Co.
- Illinois Tool Works Inc.
- Ifs Industries, Inc.
- Jowat Se
- Jubilant Industries
- Mapei Spa
- Pidilite Industries
- Parker Hannifin Corp (Parker Lord)
- Sika Ag
- Stauf Usa
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 285 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $957 Million |
| Forecasted Market Value (USD) by 2028 | $1331 Million |
| Compound Annual Growth Rate | 6.8% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/9g3adj
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