New York, United States , Jan. 31, 2023 (GLOBE NEWSWIRE) -- 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.
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The urea-formaldehyde segment to account for the largest market size during the forecast period
Based on the product type, the wood adhesives market 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 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.
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.”
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The oriented strand boards segment to hold a higher CAGR during the forecast period
Based on the substrate, the wood adhesives market is categorized into plywood, fibreboards, 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 market 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.
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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.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. The major players covered in wood adhesives market report are 3M, Ashland, H.B. Fuller Company, Henkel AG & Co. KGaA, Huntsman International LLC, Avery Dennison Corporation, Adhesives Research, Inc., The Dow Chemical Company, Bostik, W.F. Taylor, LLC, Royal Adhesives & Sealants, Akzo Nobel N.V., Shanghai Donghe Adhesive Co.,Ltd., Georgia-Pacific Chemicals LLC, BASF SE among other domestic and global players.
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