Austin, Oct. 04, 2024 (GLOBE NEWSWIRE) -- According to SNS Insider, The Wood Adhesives market is highly critical in various applications, mainly due to the booming construction and furniture industries. Accelerating urbanization has prompted higher construction activities that require high-performance adhesives for bonding wooden materials. Bio-based Wood Adhesives have attracted consumer interest due to environmental advantages over conventional synthetic adhesives.
Technological innovation in adhesive formulations has created much more recent advanced Wood Adhesives with greater performance, including high water resistance, and heat and the ability to provide better durability. The attributes are urgent to satisfy strict quality requirements in the furniture-making and cabinetry industries. The increasing rise in consumer awareness concerning the environmental influences of products has led to surging demand for non-toxic and biodegradable adhesives. As a consequence, Wood Adhesives will continue to experience market growth, steadily bounded toward the trend of environmentally friendly products.
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What is the growth of the Hydrogen Peroxide market?
The Wood Adhesives Market Size was valued at USD 7.0 billion in 2023 and is expected to reach USD 14.7 Billion by 2032, growing at a CAGR of 8.7% over the forecast period 2024-2032.
Usage in Food Sectors, Interest in Protein Consumption and Nutricosmetics, Wide Usage of Biomaterials in the Healthcare Sector, and Increasing Usage of Wood Adhesives-based Biomaterials are some drivers of the global market size growth of Wood Adhesives.
Top 10 Companies Operating in the Wood Adhesives Industry Worldwide
- Henkel AG & Co. KGaA
- 3M Company
- Pidilite Industries Limited
- Sika AG
- Ashland Global Holdings Inc.
- Bostik SA
- H.B. Fuller Company
- Huntsman Corporation
- Dow Inc.
- Jowat SE
Wood Adhesives Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | US$ 7.0 Billion |
| Market Size by 2032 | US$ 14.7 Billion |
| CAGR | CAGR of 8.7% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America) |
| Drivers | • Demand for eco-friendly construction drives the wood adhesives market, with manufacturers focusing on bio-based options to meet sustainability standards. • Innovative adhesive technologies are evolving rapidly, enhancing bonding strength and durability in wood products for construction and industrial applications. |
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Which Segment Dominated the Wood Adhesives Market?
In 2023, Plywood dominated the Wood Adhesives Market and accounted for a revenue share of around 32%. This dominance is attributed to the widespread use of plywood in construction, furniture manufacturing, and packaging applications where its strength and versatility make it the go-to option for builders and manufacturers, respectively; hence, there will be strong demand for effective Wood Adhesives that will ensure the strength and durability of these bonds.
Key Segments:
By Product Type
- Urea-formaldehyde (UF)
- Melamine Urea-formaldehyde (MUF)
- Phenol-formaldehyde (PF)
- Isocyanates
- Polyurethane
- Polyvinyl Acetate (PVA)
- Soy-based
- Others
Substrate Type
- Solid Wood
- Oriented Strand Board (OSB)
- Plywood
- Particle Board (PB)
- Medium-density Fiberboard (MDF)
- High-density Fiberboard (HDF)
- Others
By Technology
- Solvent-based
- Water-based
- Others
By Application
- Flooring
- Furniture
- Doors & Windows
- Housing Components
- Others
What are the driving factors of the Hydrogen Peroxide market?
- Increasing Construction Activities
The global construction industry is rapidly growing with supports from urbanization and the development of infrastructure. This recent construction boom requires high-performance Wood Adhesives for flooring, cabinetry, and structural applications.
- Demand for Eco-Friendly Products
Consumers increasingly look for sustainable products, whereas manufacturers innovate in terms of developing adhesives from natural sources. As a result, this trend not only gives the incentive for the protection of the environment but also meets the requirements of non-toxic and biodegradable adhesives.
- Technological Advancements
New formulations of adhesives, combined with further overall improvements, allowed the development of high-performance Wood Adhesives with higher strength endurance, and water and heat resistance, which answered the definite requirements of different applications and created a pace for growth in the market.
What are the opportunities for the Hydrogen Peroxide Market?
- Expansion in Emerging Markets
The manufacturers of Wood Adhesives will find opportunities for growth in new emerging markets where construction and furniture industries are developing. A increase in disposable incomes and a shift in customer preference has driven demand in these regions.
- Rising Applications in Healthcare
The growth in Wood Adhesives in the healthcare domain, such as in medical appliances and medical packaging, would bring opportunities to explore new markets. A rise in demand for advanced health products will, therefore, positively impact the market for Wood Adhesives.
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Which Region Dominated in the Wood Adhesives Market?
Europe dominated the Wood Adhesives market accounting for a market share of approximately 40%. The region includes Germany, France, the UK, Italy, Spain, and the Rest of Europe. Increasing awareness among consumers regarding healthy benefits associated with Wood Adhesives has formed the Wood Adhesives supplements industry. In the region, many wood adhesives-infused drinks-cappuccino wood adhesives, and soy wood adhesives among others are marketed by manufacturers as either part of protein blends or in combination with fruits. The increased application of wood adhesives in so many food products and drinks besides the changed preferences of consumers has boosted growth in the market. The preference of people for minimally invasive or non-invasive technologies and the steadily growing usage of Wood Adhesives by biomedical industries in developed countries of Europe are further leading to growth in the market.
Rising construction activities, demand for eco-friendly products, and technical improvements in adhesive formulations have made a setting boom for Wood Adhesives. Emerging markets and increased application in various other industries reveal that the Wood Adhesives market will have tremendous growth opportunities in the years to come, up to an expected market size of USD 14.7 billion in the year 2032.
Table of Contents – Major Key Points
1. Introduction
1.1 Market Definition
1.2 Scope (Inclusion and Exclusions)
1.3 Research Assumptions
2. Executive Summary
2.1 Market Overview
2.2 Regional Synopsis
2.3 Competitive Summary
3. Research Methodology
3.1 Top-Down Approach
3.2 Bottom-up Approach
3.3. Data Validation
3.4 Primary Interviews
4. Market Dynamics Impact Analysis
4.1 Market Driving Factors Analysis
4.1.1 Drivers
4.1.2 Restraints
4.1.3 Opportunities
4.1.4 Challenges
4.2 PESTLE Analysis
4.3 Porter’s Five Forces Model
5. Statistical Insights and Trends Reporting
5.1 Production Capacity and Utilization, by Country, by Type, 2023
5.2 Feedstock Prices, by Country, by Type, 2023
5.3 Regulatory Impact, by Country, by Type, 2023.
5.4 Environmental Metrics: Emissions Data, Waste Management Practices, and Sustainability Initiatives, by Region
5.5 Innovation and R&D, by Type, 2023
6. Competitive Landscape
7. Wood Adhesives Market Segmentation, by Product Type
8. Wood Adhesives Market Segmentation, by Substrate Type
9. Wood Adhesives Market Segmentation, by Technology
10. Wood Adhesives Market Segmentation, by Application
11. Regional Analysis
12. Company Profiles
13. Use Cases and Best Practices
14. Conclusion
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