Wood Adhesives Market : By Industry Trends, Leading Players, Size, Share, Growth, Opportunity And Forecast 2023-2032

Posted by Amruta Pritam on October 16th, 2023

The Wood Adhesives Global Market Report 2023, provides comprehensive information on the wood adhesives market across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.

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According to The Business Research Company's authoritative "Wood Adhesives Global Market Report 2023," the market's dimensions underwent a notable transformation, ascending from a valuation of .81 billion in 2022 to an impressive .16 billion in 2023. This substantial growth was sustained by a robust compound annual growth rate (CAGR) of 7.3%, affirming the sector's dynamism and vitality.

However, it is imperative to acknowledge that the global economic landscape encountered a substantial upheaval due to the Russia-Ukraine conflict, substantially curtailing the prospects of an expedited recovery from the ongoing COVID-19 pandemic. This geopolitical turmoil precipitated a series of economic sanctions on multiple nations, a significant escalation in commodity prices, and, perhaps most strikingly, far-reaching disruptions in supply chains. The cumulative effect of these factors has been the emergence of inflationary pressures across various goods and services sectors, resonating within markets worldwide.

Nonetheless, as the world grapples with these challenges, the global wood adhesives market remains poised for growth and transformation. Projections indicate that the market's size is set to expand further, reaching a noteworthy valuation of .48 billion by 2027, underpinned by a commendable CAGR of 5.9%. This anticipated trajectory highlights the enduring resilience of the wood adhesives sector, as it adapts and evolves in response to the shifting global economic dynamics.

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Strategic collaborations have emerged as pivotal drivers in the wood adhesives market, fundamentally reshaping its landscape. These strategic alliances provide wood adhesive manufacturers with an expansive distribution network, effectively catalyzing market expansion. A compelling example of this strategic synergy unfolded in June 2021 when HB Fuller, recognizing the surging demand for adhesive applications in the B2B woodworking sector, inked a groundbreaking distribution agreement with Jubilant Agri and Consumer Products, a wholly-owned subsidiary of Jubilant Industries.

This strategic partnership has far-reaching implications, as it empowers HB Fuller to extend the reach of its cutting-edge adhesive solutions. These solutions encompass a spectrum of technologies, spanning water-based, hot melt moisture cures, and polyurethanes, which are meticulously tailored to address the unique adhesion and sustainability requirements of discerning customers. Moreover, it presents a gateway to a global network of experts and local proficiency, rendering unmatched service and technical support.

Another remarkable development transpired in April 2021, as the Innovative Chemical Products Group (ICP Group) executed the acquisition of Choice Adhesives, ushering them into the ICP BSG family. This strategic acquisition bolsters the ICP BSG family's ability to provide unwavering support to its professional clientele within the roofing adhesive sector. These strategic collaborations not only exemplify the dynamic nature of the wood adhesives market but also underscore the enduring commitment to meet the evolving needs of industry professionals, underpinned by innovation and synergy.

The wood adhesives market is segmented:

1) By Product: Urea-formaldehyde, Melamine urea-formaldehyde, Phenol-formaldehyde, Isocyanates, Polyurethane, Polyvinyl acetate, Soy-based, Other Products

2) By Technology: Solvent-Based, Water-Based, and Other Technologies

3) By Resin Type: Natural, Synthetic

4) By Application: Flooring and Decks, Plywood, Furniture, Cabinets, Windows and Doors, and Other Applications

Asia-Pacific was the largest region in the wood adhesives market in 2022.

The table of contents in TBRC’s wood adhesives market report includes:

1. Executive Summary

2. Wood Adhesives Market Characteristics

3. Wood Adhesives Market Trends And Strategies

4. Wood Adhesives Market – Macro Economic Scenario

5. Wood Adhesives Market Size And Growth

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26. Africa Wood Adhesives Market

27. Wood Adhesives Market Competitive Landscape And Company Profiles

28. Key Mergers And Acquisitions In The Wood Adhesives Market

29. Wood Adhesives Market Future Outlook and Potential Analysis

30. Appendix

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