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Soaring Construction and Furniture Sector Propelling Wood Adhesives Market to $7.82 Billion in 2029
Wood Adhesives Market
What Is The Projected Market Size Of The Global Wood Adhesives Market And Its Growth Rate?
The wood adhesives market has experienced robust growth in recent years with sustainable practices, consumer preferences for wooden products and developments in housing and infrastructure being pivotal factors. Key projections include:
- Growth from $5.45 billion in 2024 to $5.81 billion in 2025 at a CAGR of 6.6%
- Expected growth to $7.82 billion in 2029 at a CAGR of 7.7%
- Key trends include the increasing application of hot-melt adhesives, digital printing in wood paneling, and focus on high-performance adhesives
What Is Driving The Growth In The Wood Adhesives Market?
The significant increase in consumers' spending on home decorative and luxury furniture products is propelling the growth of the wood adhesives market. These adhesives are extensively used for joinery purposes and are a preferred choice for home decor and wooden furniture. Despite supply chain challenges, luxury furniture retailers remain optimistic about robust consumer spending. For instance, India's Furniture market is anticipated to witness a CAGR of 10.9% during 2023-28, reaching $32.7 Bn by 2026.
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Who Are the Key Players Driving Wood Adhesives Market Growth?
- The Dow Chemical Company
- 3M Company
- BASF SE
- Henkel AG & Co
- Arkema SA
- AkzoNobel N.V.
- Sika AG
- Avery Dennison Corporation
- ITW Devcon Inc.
- Bostik SA
- Aica Kogyo Company Limited
- Huntsman Corporation
- Jowat SE
- Pidilite Industries Ltd.
What Are The Key Trends In The Wood Adhesives Market?
Key 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
What Are The Segments Of The Global Wood Adhesives Market?
The wood adhesives market is segmented by:
- Product: Urea-Formaldehyde, Melamine Urea-Formaldehyde, Phenol-Formaldehyde, Isocyanates, Polyurethane, Polyvinyl Acetate, Soy-Based, Other Products
- Technology: Solvent Based, Water Based, Other Technologies
- Resin Type: Natural, Synthetic
- Application: Flooring And Decks, Plywood, Furniture, Cabinet, Windows And Doors, Other Applications
Which Region Leads The Wood Adhesives Market?
Asia-Pacific was the largest region in the wood adhesives market in 2024 and is expected to continue its rapid growth in the forecast period. The regions covered in the market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Wood Adhesives Market Report?
- Market Size Analysis: Analyze the Wood Adhesives Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Wood Adhesives Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Wood Adhesives Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Wood Adhesives Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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