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LONDON, GREATER LONDON, UNITED KINGDOM, October 23, 2024 /EINPresswire.com/ -- The Business Research Company’s Early Year-End Sale! Get up to 30% off detailed market research reports—limited time only!
The wood adhesives market has seen significant growth in recent years, increasing from $5.13 billion in 2023 to $5.48 billion in 2024, with a compound annual growth rate (CAGR) of 6.9%. This growth during the historical period is largely driven by the construction and furniture sectors, housing and infrastructure development, rising consumer demand for wooden products, renovation and remodeling activities, and global woodworking trends.
What Is the Future Market Size of the Global Wood Adhesives Market and Its Yearly Growth Rate?
The wood adhesives market is expected to maintain its strong growth, reaching $7.18 billion by 2028, with a compound annual growth rate (CAGR) of 7.0%. This growth during the forecast period is driven by sustainable and eco-friendly practices, increased demand for engineered wood products, urbanization, interior design trends, and a focus on high-performance adhesives, particularly for wooden flooring applications. Key trends for the forecast period include the growing use of hot-melt adhesives, the rising significance of digital printing in wood paneling, a focus on fire-retardant adhesives in construction, applications in prefabricated and modular construction, and collaborations for research and innovation.
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What Are the Main Factors Driving Wood Adhesives Market Expansion?
The expanding construction industry is anticipated to drive the growth of the market in the coming years. Construction involves the creation and assembly of infrastructure, buildings, and other structures. In this sector, wood adhesives play a vital role by bonding and strengthening wooden components, thereby improving the structural integrity and durability of buildings, furniture, and various wooden structures.
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Who Are the Main Competitors Driving the Wood Adhesives Market Forward?
Key players in the market include The Dow Chemical Company, 3M Company, BASF SE, Henkel AG & Co, Arkema SA, AkzoNobel N.V, Sika AG, Avery Dennison Corporation, ITW Devcon Inc., The Reynolds Co, Harvey Benjamin Fuller, Bostik SA, Aica Kogyo Company Limited, Huntsman Corporation.
How Are New Trends Transforming the Wood Adhesives Market Size?
Strategic collaborations are influencing the market significantly. These partnerships offer wood adhesive manufacturers an expanded distribution network, contributing to market growth.
What Are the Key Segments Within the Global Wood Adhesives Market?
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, Other Technologies
3) By Resin Type: Natural, Synthetic
4) By Application: Flooring And Decks, Plywood, Furniture, Cabinet, Windows And Doors, Other Applications
Asia-Pacific’s Role as the Foremost Player in the Wood Adhesives Market
Asia-Pacific was the largest region in the wood adhesives market in 2023. Asia-Pacific is expected to be the fastest-growing region in the market report during the forecast period. The regions covered in the market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Wood Adhesives Market Definition
Wood adhesives are used to bond wooden materials to one another or to various other materials. These polymeric compounds can interact with the wood's surface, allowing stresses to transfer between the bonded components, either physically, chemically, or through a combination of both. Wood adhesives are frequently employed in the production of building materials, including plywood, laminated veneer products, particleboard, oriented strand board, fiberboard, laminated beams and timbers, edge-bonded products, architectural doors, windows, frames, and fiberglass insulation.
The Wood Adhesives Global Market Report 2024 from The Business Research Company includes the following key information:
• Market size data for both historical and future periods
• Analysis of both macro and microeconomic factors that have impacted the market over the past five years
• Regional market analysis covering Asia-Pacific, China, Western Europe, Eastern Europe, North America, the USA, South America, and the Middle East and Africa
• Country-specific market analysis for Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.
Overview of the Global Wood Adhesives Market Report: Trends, Opportunities, Strategies, and More
The Wood Adhesives Global Market Report 2024 from The Business Research Company is an extensive resource that delivers insights into wood adhesives market size, wood adhesives market drivers and trends, wood adhesives market major players, wood adhesives competitors' revenues, wood adhesives market positioning, and wood adhesives market growth across geographies. This report provides valuable in-depth insights into potential opportunities and strategies. Companies can utilize the information presented to target segments with the greatest growth potential.
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