Global Wood Adhesives Market at a CAGR of 5.33 % Growth, Trends and Absolute Op

Posted by ganesha on December 24th, 2019

Global Wood Adhesives Market By Resin Type (Natural, Synthetic), Technology (Solvent- Based, Water- Based, Solventless), Application (Flooring & Desks, Plywood, Furniture, Cabinet, Particle Board, Windows & Doors), Product (Urea-Formaldehyde, Melamine Urea-Formaldehyde, Phenol-Formaldehyde, Isocyanate, Polyurethane, Polyvinyl Acetate, Soy-based wood adhesive)

Market Definition: Global Wood Adhesives Market

To bond pieces of wood together an adhesive is used called wood adhesive. They are usually in furniture, shipbuilding, arts and crafts etc. PVA glue, hide glue, epoxy, cyanoacrylate glue, polyurethane etc. are some of the wood adhesives. Wood adhesive are designed so that there should be no gaps between wooden parts and are water resistant.

Market Drivers:

• Increase in the urbanization and remodelling and renovation activities are driving the market.
• Increasing construction activities worldwide is driving this market.

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Market Restraints:

• Many woods adhesive contain formaldehyde known as carcinogen which is linked with the formation of the cancer.
• Availability of substitute’s material in the market is restraining the growth.

Market Analysis: Global Wood Adhesives Market

Global Wood Adhesives Market is expected to rise from its initial estimated value of USD 4.09 billion in 2018 to an estimated value of USD 5.33 billion by 2026, registering a CAGR of 3.37% in the forecast period of 2019-2026. Increase in the demand for wooden furniture is the major factor for the increase in this market.

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 Segmentation: Global Wood Adhesives Market

• By Resin Type
• Natural
• Synthetic
• By Technology
• Solvent- Based
• Water- Based
• Solventless
• By Application
• Flooring & Desks
• Plywood, Furniture
• Cabinet
• Particle Board
• Windows & Doors
• By Product
• Urea-Formaldehyde
• Melamine Urea-Formaldehyde
• Phenol-Formaldehyde
• Isocyanate
• Polyurethane
• Polyvinyl Acetate
• Soy-based

Key Developments in the Market:

In October 2018, Bostik announced the launch of their new hot melt adhesive Kizen HEAT. This new product is based on water- white technology, and has good thermal stability and is adhesion to different substrates.

In July 2017, Hexion launched their new two- component adhesive system- Ecobind 6500 resins and Wonderbond Hardener M660Y. This new adhesive will enhance the durability and supports indoor air quality and reduces clean up and waste costs.

Competitive Analysis:

Global wood adhesives market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of wood adhesives market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.

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