.3 Billion Milestone: Exploring the Timber Laminating Adhesives Market's Future Prospects
Posted by Jack Martin on September 26th, 2023
The global timber laminating adhesives market accounted USD 957 million in 2022 and is projected to reach a market size of USD 1331 million by 2028 at a CAGR of 6.8%. The driving factors for timber laminating adhesives include the increasing demand for sustainable and eco-friendly construction materials and practices. Timber laminating adhesives provide a more environmentally friendly alternative to traditional construction materials, as they reduce the reliance on non-renewable resources and minimize carbon emissions. Additionally, the growing awareness of the benefits of timber as a construction material is fueling the demand for timber-laminating adhesives. Timber offers advantages such as high strength-to-weight ratio, versatility, and aesthetic appeal, making it an attractive choice for architects, builders, and designers. As a result, the need for reliable and durable adhesives to bond timber components together is boosting the timber laminating adhesive market.
The timber laminating adhesive market is being propelled by the growing emphasis on sustainability, the advantages of timber as a construction material, technological advancements, and the need to meet stringent industry regulations.
The major players following the strategies between 2019 to 2022, Henkel Ag (Germany), H.B. Fuller (US), Sika Ag (Switzerland), 3M (US), Dow Inc. (US), Nanocyl SA (Belgium), Arkema (France), Ashland Global Holdings Inc. (US). The companies are majorly following investment & expansion as the strategy to grow and expand the market.
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H.B. Fuller: H.B. Fuller Company is a global leader in adhesive solutions, catering to a wide range of industries including construction, packaging, automotive, hygiene, and electronics. With its headquarters in St. Paul, Minnesota, USA. H.B. Fuller is renowned for its innovative and sustainable adhesive technologies that address complex bonding challenges across various applications. The company's adhesive solutions encompass a diverse portfolio, including products for structural bonding, laminating, sealing, and more. H.B. Fuller, a manufacturer of adhesives, sealants, and other specialty chemical products, operated in more than 40 countries around the world. The company has a global presence with a wide range of products serving various industries, including packaging, hygiene, construction, automotive, and more.
In June 2020, H.B. Fuller announced the opening of a new business office in Johannesburg, South Africa, and a network spanning three warehouses across the country to support its ambitious growth plans in the region. The new H.B. Fuller entity will offer customers local adhesive expertise and a globally connected team with deep industry knowledge spanning the 28 market segments served by the company.
Henkel Ag: Henkel AG & Co. KGaA is a multinational conglomerate with a diverse portfolio of products and services, specializing in three main business areas: Adhesive Technologies, Beauty Care, and Laundry & Home Care. Headquartered in Düsseldorf, Germany, Henkel operates globally and has a rich history dating back to its founding in 1876. The company operates in more than 120 countries around the world. The company has a widespread global presence, with its products and services being available in various regions and markets.
In January 2022, Henkel Adhesive Technologies invested in Smartz AG (Smartz), a medical technology start-up headquartered in Baar, Switzerland, to strengthen its capabilities to meet the growing demand for smart adult care solutions.
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About the AuthorJack Martin
Joined: August 7th, 2017
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