Pune India, Jan. 11, 2023 (GLOBE NEWSWIRE) -- The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and the Middle East and Africa. These are the key regions where the Wood Adhesives market is operating and is predicted to expand soon. The manufacturers and suppliers involved in the Wood Adhesives market are present across various countries in the above-mentioned regions.
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The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as resin type, application, technology, and region. Apart from this, the key driving factors, restraints, potential growth opportunities, and market challenges are also discussed in the below paragraphs.
The significant players operating in the global Wood Adhesives market are Ecotone Systems Pvt Ltd, Chengdu Rongyulong Technology Co Ltd, Puyang Green Foam, Junhua Group, BEIJING GUOJIAN ANKE, CMS Danskin Acoustics Limited, Linyi Yingke Chemistry, Acoustafoam, Queen City, Reilly Foam, Clark Foam among others. To achieve a substantial market share in the worldwide Wood Adhesives market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.
As consumer awareness of deforestation and climate impact has grown, the market for engineered wood panels has expanded. The amount of wood glue needed to make engineered wood panels is substantial. Furthermore, wood panels such as oriented strand boards, plywood, and particle board are used to make furniture and home décor. Due to rising consumer demand, a growing client base, and continued research & development, the market for wood adhesives is developing. The expansion of the market is impacted by fluctuating raw material prices. The cost and accessibility of the raw materials used to make adhesive by manufacturers have a big impact on the cost of their finished goods. The adhesive business uses a variety of raw materials, including plastic resins, synthetic rubber, refined petroleum products, inorganic chemicals, and industrial inorganic chemicals. Since the vast majority of these raw materials are petroleum derivatives, fluctuations in the price of other commodities have an impact on their pricing, which causes the market to contract.The market for wood adhesives is seeing new expansion potential as a result of the increased demand for low-volatile organic compounds. Since the leading players in the wood adhesives market are concerned with sustainability, one of the major trends in the industry is the shift toward products with low volatile organic compound (VOC) content.
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Scope of Wood Adhesives Market Report:
| Report Metric | Information |
| Study Period | 2022-2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Market Share Unit | USD Million |
| Segments Covered | Resin type, Application, Technology, and region |
| Regions Covered | North America, Europe, Asia-Pacific, South America, and Middle-East and Africa |
| Major Players | Ecotone Systems Pvt Ltd, Chengdu Rongyulong Technology Co Ltd, Puyang Green Foam, Junhua Group, BEIJING GUOJIAN ANKE, CMS Danskin Acoustics Limited, Linyi Yingke Chemistry, Acoustafoam, Queen City, Reilly Foam, Clark Foam among others |
Segmentation Analysis
Natural segment is expected to be the fastest-growing segment in 2022.
The resin type segment includes Natural and Synthetic. Natural is expected to be the fastest-growing segment in 2022. They are rising in popularity as a result of the global movement toward sustainable development and continuous research in the area of natural resin-based adhesives. R&D is focusing on advancements in biotechnology of bio-based resources to be used more efficiently.
Furniture segment is expected to be the fastest-growing segment in 2022.
The application segment includes Cabinets, Flooring, Plywood, Furniture, Doors and windows, and Others. Furniture is expected to be the fastest-growing segment in 2022. The furniture market includes mattresses, desks, chairs, sets, tables, and other wooden furnishings. The market is growing quickly. Additionally, growth in the furniture category is anticipated to be driven by an increase in consumer demand.
Water based segment is expected to be the fastest-growing segment in 2022.
The Technology segment includes Solvent based, Water based, and Others. Water based is expected to be the fastest-growing segment in 2022. The poultry segment is expected to witness the highest growth rate during the forecast period. Water-based solvents function better than solvent-based adhesives due to their improved cost- and eco-friendliness. The new restrictions regulating the use of solvents in the adhesive sector will also help the development of water-based adhesives.
Regional Analysis
The regional analysis provides a detailed perception of the key regions and the countries. Some of the key countries analyzed for Wood Adhesives include the US, Canada, Mexico, Germany, France, the U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia.
The Asia Pacific region witnessed a major share. Governments in these regions are encouraging investments through tax incentives and financial help, particularly in the construction industry, which will lead to a rise in the market for wood adhesives. Strong, lightweight building materials are in high demand on the market right now, which is predicted to drive growth for wood adhesives commonly used in the production of furniture and construction materials.
Country Analysis
- Germany
Germany's Wood Adhesives market size was valued at USD 0.08 billion in 2022 and is expected to reach USD 0.12 billion by 2030, at a CAGR of 5.5% from 2023 to 2030.
In Europe, Germany is a significant producer of wood adhesives. The strong demand from the furniture and construction industries has caused the wood adhesives business to rapidly develop in recent years.
- China
China’s Wood Adhesives market size was valued at USD 0.10 billion in 2022 and is expected to reach USD 0.16 billion by 2030, at a CAGR of 6.6% from 2023 to 2030.
One of the world's top producers of wood-based panels is China. The region's well-established wood panel sector and consistent supply of wood goods are both expected to support the expansion of the wood adhesives market.
- India
India's Wood Adhesives market size was valued at USD 0.07 billion in 2022 and is expected to reach USD 0.10 billion by 2030, at a CAGR of 4.7% from 2023 to 2030.
The consumer wood adhesives market had considerable expansion and a rise in the living standards of the nation as a result of the rising demands from intermediates and the art and craft industries.
Covid-19 Impact
Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.
Furthermore, The growth of this market is mainly driven by expanding usage of wood adhesives in significant emerging markets.
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