The global wood adhesives market is
expected to reach USD 6.18 billion by 2025, according to a new report by Grand
View Research, Inc. Recovery in the global housing market and increasing
consumer spending on luxury furniture and home décor has prompted higher
investments in lightweight and convenient bonding materials such as wood
adhesives.
The demand for timber furniture and plywood
building materials has risen significantly owing to their high aesthetic appeal
and compatibility with numerous substrates. This in turn has driven investments
in superior processing & bonding technologies to foster mass production and
meet growing global demand.
Adhesives have replaced conventional
bonding materials such as metal fasteners owing to their ease of process
ability, faster curing time and relative low production costs. Conventional
glues formulated using synthetic chemicals such as formaldehyde are
increasingly being substituted with sustainable alternatives based on organic
sources, which has contributed to industry growth in recent years.
Urea-formaldehyde products are expected to
retain their dominance owing to their highly durable nature after setting &
hardening. The product occupied over 40% of the volume share in 2015 and is
forecasted to grow at 4.4% CAGR from 2016 till 2025.
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http://www.grandviewresearch.com/industry-analysis/wood-adhesives-market
Further key findings from the report suggest:
· Melamine urea-formaldehyde (MUF) products
are another dominant category in the industry, and are expected to grow on
account of their compatibility & effectiveness on exterior timber panels
& laminate preparation
· Flooring & plywood are expected to
remain the dominant application with over 33% of the revenue share in 2015.
Rising construction spending in emerging economies & the recovery of the
residential & housing sector in North America has contributed significantly
to timber demand in these applications.
· Furniture is expected to emerge as a
fast-growing application with 3.3% CAGR from 2016 to 2025. Expansion of the
furniture and woodworking industries, along with government initiatives
encourage domestic production in emerging economies such as the ‘Make in India’
scheme has encouraged manufacturers to opt for easily available bonding
materials.
· Asia Pacific is anticipated to grow at the
highest CAGR of 4.8% in terms of revenue, since numerous European & American
manufacturers are establishing production bases in the region to tap lucrative
potential
· The industry is characterized by the
presence of major multinationals including Wanhua Chemical Group, LonKoll,
Henkel, Lubrizol Corporation, HB Fuller Company, Casco Adhesives AB, Dana Lim
A.S., Bostik Adhesives, GP Chemicals, AkzoNobel, Franklin Adhesives &
Polymers, Royal DSM, Dynea, and Surfactant Industries among others.
Grand View Research has segmented the
global wood adhesives market on the basis of product, application, and region:
Wood Adhesives Product Outlook (Volume,
Kilo Tons; Revenue, USD Million, 2014 - 2025)
·
Urea-Formaldehyde
·
Melamine Urea-Formaldehyde
·
Phenol-Formaldehyde
·
Isocyanate
·
Polyurethane
·
Polyvinyl Acetate
·
Soy-based
·
Others
Wood Adhesives Application Outlook (Volume,
Kilo Tons; Revenue, USD Million, 2014 - 2025)
·
Flooring & Plywood
·
Furniture
·
Doors & Windows
·
Housing Components
·
Others
Wood Adhesives Regional Outlook (Volume,
Kilo Tons; Revenue, USD Million, 2014 - 2025)
·
North America
o
U.S.
o
Canada
·
Europe
o
Germany
o
France
o
UK
·
Asia Pacific
o
China
o
India
o
Japan
·
Latin America
o
Mexico
o
Brazil
·
Middle East & Africa
o
Saudi Arabia
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market intelligence
studies ensuring relevant and fact-based research across a range of industries,
from technology to chemicals, materials and healthcare.
