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Comprehensive Market for Wood Adhesives And Binders Projected to Exceed $ 21 Billion by 2024 Growth Analysis By Outstanding Key Players H.B. Fuller, Avery Dennison, The Dow Chemical Company, BASF, Adhesives Research, Inc., Henkel, Huntsman Corporation, Bo
U.S Wood Adhesives And Binders Market size, by application, 2015 & 2024 (USD Million)
U.S. contributed to a major share of North America wood adhesives and binders industry in 2015 and will cross an annual growth rate of 4.5% over the period of 2016 to 2024. Rising renovation and restoration activities in the region pertaining the changing consumer preferences toward a luxurious lifestyle will augment the market growth.
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The notable players in wood adhesives and binders market are Ashland Inc., 3M Company, H.B Fuller Company, Huntsman Corporation, BASF SE, Dow Chemical Company, and Avery Dennison Corporation.
Escalating growth in the construction sector will lead wood adhesives and binders market to carve an exponential growth graph over the years ahead, driven by the shifting consumer trends toward aesthetics. Growing urbanization and industrialization across the BRIC countries will also augment wood adhesives and binders industry share.
The rising urban population, accustomed to a lavish lifestyle, will spend heavily on renovating homes and offices, in response to which global wood adhesives and binders market will observe significant growth. According to Global Market Insights, Inc., “ Wood Adhesives and Binders industry will record an annual growth rate of more than 4% over the period of 2016 to 2024.”
Global Wood Adhesives And Binders Product Analysis
• Urea-formaldede (UF)
• Melamine-urea-formaldehyde (MUF)
• Phenol-formaldehyde (PF)
• Isocyanates (MDI, TDI, HDI)
• Soy-based
• Others
Global Wood Adhesives And Binders Application Analysis
• Cabinets
• Flooring & plywood
• Furniture & subcomponents
• Windows & doors
• Others
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. 3M
2. Ashland
3. H.B. Fuller
4. Henkel
5. BASF
6. Huntsman Corporation
7. Avery Dennison
8. Adhesives Research, Inc.
9. The Dow Chemical Company
10. Bostik
Window & doors, cabinets, furniture & subcomponents, and flooring & plywood are the main application areas of wood adhesives and binders market. Furniture & subcomponents application segment, having had a revenue of USD 4 billion in 2015, will exhibit a significant growth rate over the years ahead, owing to its surging demand as a result of increase in spending by the customers across the globe. Moreover, escalating non-residential furniture work like desks manufacturing will fuel the demand for wood adhesives and binders significantly.
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Growing investment in flooring industry will lead to a considerable revenue generation in flooring & plywood application segment, which will register a CAGR of more than 5% over the coming years of 2016 to 2024. Additionally, surging product requirement across the residential and commercial sectors will also influence wood adhesives and binders industry growth.
Chapter 3 Wood Adhesives And Binders Industry Insights
3.1 Industry segmentation
3.2 Industry size, forecast and growth expectations, 2013 - 2024
3.3 Industry ecosystem analysis
3.3.1. Vendor Matrix
3.3.2. Distribution channel analysis
3.4 Wood adhesives and binders industry impact forces
3.4.1. Growth drivers
3.4.1.1. Robust growth in the construction industry
3.4.2. Industry pitfalls & challenges
3.4.2.1. Oscillating crude oil prices
3.4.2.2. Stringent environment regulations
3.5 Growth potential analysis
3.6 Porter's analysis
3.7 Company market share analysis, 2015
3.7.1. Strategic landscape
3.8 PESTEL analysis
3.9 Regional price trends
3.9.1. Cost structure analysis
Phenol formaldehyde based products will register an annual growth rate of more than 4% over the period of 2016 to 2024, primarily driven by its surging demand pertaining to its properties of low surface energy, better chemical resistance, and high performance in moist conditions. Urea-formaldehyde based wood adhesives and binders industry was worth USD 3 billion in 2015 and is projected to witness considerable growth prospects over the coming timeframe.
The growth can be attributed to its high demand pertaining to its excellent bond strength along with availability at lower cost. In addition to this, urea-formaldehyde based products are prominently used in non-structural and structural applications such as furniture, cabinets, flooring & plywood, and windows & doors. This, in turn, will boost wood adhesives and binders market size notably. Soy-based, melamine-urea-formaldehyde, and isocyanates are the other notable products in wood adhesives and binders industry.
Browse key industry insights from the report, “ Wood Adhesives And Binders Market ” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/wood-adhesives-and-binders-market
Key insights from the report include:
• Global wood adhesives and binders market size may reach USD 21 billion by 2024, with projected gains at 4.5% CAGR.
• In 2015, urea-formaldehyde industry share was roughly over USD 3 billion. The product experienced high demand with superior bond strength and economic benefits. It is extensively used in structural and non-structural applications including plywood & flooring, doors & windows, cabinets and furniture. Such widespread product applications will positively influence the growth.
• Wood adhesives and binders market share for flooring & plywood will experience growth over 5% CAGR by 2024. Robust growth in the flooring business will subsequently drive industry demand over the forecast timeframe.
• In 2015, the global wood adhesives and binders market for furniture & subcomponents applications was valued at over USD 4 billion. Rising consumer spending power has substantially increased the furniture demand. This trend will consequently boost the overall business growth by 2024.
Browse Related Report :
Metal Bonding Adhesives Market : https://www.gminsights.com/industry-analysis/metal-bonding-adhesives-market
About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
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Email: sales@gminsights.com
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