Wood Adhesives Market 2024 -2033: Global Outlook, Industry Share, Business Growth And Major Players

The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033

The Business Research Company offers in-depth market insights through Wood Adhesives Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.

Market Size And Growth Forecast:
The wood adhesives market size has grown strongly in recent years. It will grow from $5.13 billion in 2023 to $5.48 billion in 2024 at a compound annual growth rate (CAGR) of 6.9%. The growth in the historic period can be attributed to construction and furniture industries, housing and infrastructure development, consumer preferences for wooden products, renovation and remodeling activities, global woodworking trends.

The wood adhesives market size is expected to see strong growth in the next few years. It will grow to $7.18 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%. The growth in the forecast period can be attributed to sustainable and eco-friendly practices, rising demand for engineered wood products, urbanization and interior design trends, focus on high-performance adhesives, wooden flooring applications. Major trends in the forecast period include increasing application of hot-melt adhesives, rising importance of digital printing in wood paneling, focus on fire-retardant adhesives in construction, application in prefabricated and modular construction, collaborations for research and innovation.

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Market Segmentation:
The wood adhesives market covered in this report is segmented -
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

Major Driver - Surge In Consumer Spending On Home Decor And Furniture Elevates The Wood Adhesives Market
The significant increase in spending of consumers on home decorative and luxury furniture products is expected to drive the growth of the wood adhesives market going forward. Wood adhesives are used for most wood joinery purposes and are an effective assembly choice for home decor and wooden furniture. Despite major supply chain challenges, luxury furniture and home goods retailer RH remains optimistic that robust consumer spending will continue as the business strives to position itself beyond curating and selling objects and towards conceiving and selling settings. For instance, RH's net revenue in the second quarter of 2021 was $989 million, up 39% from the previous year and 40% from the second quarter of 2019. RH currently expects its full-year sales in 2021 to grow by 31% to 33%, up from previous predictions of 25% to 30%, based on the stability of the business. As a result, the increase in consumer spending on home decorative and luxury furniture products drives the growth of the wood adhesives market.

Competitive Landscape:
Major companies operating in the wood adhesives market report are 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, Jowat SE, Pidilite Industries Ltd., LORD Corporation, Jubilant Industries Ltd., Beardow Adams Ltd., Dymax Corporation, Chemence Inc., Adhesives Research Inc., AJ Adhesives Inc., W.F. Taylor, Surebonder, Permabond LLC, L.D. Davis Industries Inc., RPM International Inc., Master Bond Inc., Cattie Adhesives, Collano Adhesives AG, DAP Products Inc., Franklin Adhesives & Polymers, Ashland Global Holdings Inc., Chemique Adhesives Inc., Chemtura Corporation, Dow Corning Corporation, Eastman Chemical Company

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Top Trend - Introduction Of High-Performance Polyurethane Adhesives In The Wood Adhesives Market
Major companies operating in the wood adhesives market are increasing their focus on introducing high-performance adhesives, such as G6520 and SG6518, to gain a competitive edge in the market. SG6520 and SG6518 are high-performance polyurethane adhesives known for their exceptional bonding strength and versatility in various construction and assembly applications. For instance, in May 2022, Bostik, a France-based adhesive manufacturing company, launched a new series of adhesive solutions called SG6520 and SG6518. These hot melt polyurethane reactive (HMPUR) adhesive solutions are designed for woodworking applications, offering superior bonding strength, sealing performance, water resistance, and increased durability for finished woodworking products.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Wood Adhesives Market Characteristics
3. Wood Adhesives Market Trends And Strategies
4. Wood Adhesives Market - Macro Economic Scenario
5. Wood Adhesives Market Size And Growth
…..
27. Wood Adhesives Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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