Dublin, July 01, 2024 (GLOBE NEWSWIRE) -- The "Global Engineered Wood Adhesives Market by Resin (Melamine Formaldehyde, Phenol Resorcinol Formaldehyde), Product (CLT, OSB, MDF, LVL), Technology (Solvent-Based, Water-Based), Application (Structural, Non-Structural), and Region - Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.
The global engineered wood adhesives market size is projected to grow from USD 8.7 billion in 2024 to USD 10.5 billion, at a CAGR of 3.7%. Wood adhesives are essential for optimizing the use of timber resources, especially as the availability of large, quality trees decline. The wood industry has responded by developing innovative engineered wood products that leverage smaller logs, less desirable wood species, and previously unusable wood waste. 
These products, which include I-joists, glued laminated timber (glulam), and various forms of structural composite lumber such as LVL, PSL, LSL, and OSL, are designed to emulate the structural characteristics of solid-sawn lumber but with greater uniformity in their structural properties due to the removal of natural defects during manufacturing.
These modern engineered wood products are integral to a wide range of construction applications, from architectural doors, windows, and frames to more ubiquitous elements like plywood, particleboard, medium-density fiberboard (MDF), and oriented strand board (OSB). The use of adhesives in these products not only facilitates the efficient use of wood but also enhances the performance characteristics of the final products, including their fire resistance.
The key companies profiled in this report are H.B. Fuller Company (US), Henkel AG & Co., KGaA. (Germany), AkzoNobel N.V. (Netherlands), Arkema SA (France), BASF SE (Germany), Dow (US), Huntsman Corporation (US), AICA Kogyo Co., Ltd (Japan), Astral Limited (India), Hexion (US), and others.
The water-based segment is expected to register one of the highest market share during the forecast period.
Water-based adhesives are emerging as a preferable alternative, especially under tighter environmental regulations. These adhesives use water as a solvent, which significantly reduces VOC emissions. The primary advantages include safer working conditions and lower environmental impact. However, the performance of water-based adhesives generally lags behind solvent-based types in terms of water resistance and bonding strength under variable temperature conditions. Enhancements in chemical formulations are being developed to close this performance gap.
The structural segment is expected to register one of the highest market share during the forecast period.
In the construction industry, the strategic utilization of engineered wood products such as plywood, cross-laminated timber (CLT), laminated veneer lumber (LVL), and oriented strand board (OSB) is pivotal due to their enhanced mechanical properties, environmental sustainability, and cost-effectiveness. Each of these products serves distinct structural roles and is engineered to meet specific performance criteria, making them indispensable in modern building practices.
Plywood is crafted through the layering and cross-sectional bonding of wood veneers, utilizing adhesives that enhance its structural integrity. This configuration grants plywood exceptional strength and resistance to warping, making it suitable for a wide range of applications including flooring, roofing, and wall sheathing. Its ability to distribute loads evenly across the grain makes it a reliable choice for demanding environments.
Asia Pacific engineered wood adhesives market is estimated to capture one of the highest share in terms of volume during the forecast period.
The Asia Pacific region stands out as both the largest and fastest-growing market, driven by robust economic growth and significant investments in various end-use industries. The area's prominence is further reinforced by the strategic initiatives of global industry leaders who are establishing production facilities, opening sales offices, and expanding distribution networks within the region. These strategic decisions reflect the sustained demand in the region and aim to capitalize on its cost-effective production capabilities and dynamic market conditions to enhance profit margins.
Despite this positive outlook, the market faces several challenges that could impact its growth trajectory. Economic fluctuations, the instability of raw material costs, and intense competition among local players are significant obstacles that could hinder progress. Nevertheless, the rigorous enforcement of regulatory standards across the region highlights the industry's commitment to quality and compliance with biocompatibility standards, ensuring that products meet the highest safety and performance criteria. This rigorous approach to regulation not only maintains product integrity but also supports sustainable market growth amidst these challenges.
The report provides insights on the following pointers:
- Analysis of key drivers (Growing demand for engineered wood adhesives in sustainable infrastructure where engineered wood is required), restraints (volatility in raw material prices), opportunities (collaboration of distributors in untapped markets), and challenges (stringent regulatory policies).
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the engineered wood adhesives market
- Market Development: Comprehensive information about lucrative markets - the report analyses the engineered wood adhesives market across varied regions
- Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the engineered wood adhesives market
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 300 |
| Forecast Period | 2024 - 2029 |
| Estimated Market Value (USD) in 2024 | $8.7 Billion |
| Forecasted Market Value (USD) by 2029 | $10.5 Billion |
| Compound Annual Growth Rate | 3.7% |
| Regions Covered | Global |
Companies Featured
- H.B. Fuller Company
- Henkel AG & Co. KGaA
- Akzo Nobel N.V.
- Arkema SA
- BASF SE
- Dow
- Huntsman Corporation
- Aica Kogyo Co. Ltd.
- Astral Limited
- Hexion
- Chemique Adhesives & Sealants Ltd.
- Bolton Group
- Winlong Gw International Technology (Qingdao) Co. Ltd.
- Super Bond Adhesive Pvt. Ltd.
- Jowat SE
- Mapei Corporation
- Surfactant Industries
- Arclin, Inc.
- Akkim Sealants & Adhesives
- Ifs Industries Inc.
- Kiilto
- Tremco
- Napco
- Dynea
- Robatech AG
For more information about this report visit https://www.researchandmarkets.com/r/8aop2x
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