The global industrial wood adhesives market was valued at US$ 5,133. 8 million in 2019 and is projected to reach US$ 7,656. 2 million by 2027; it is expected to grow at a CAGR of 5. 2% from 2020 to 2027.
New York, May 20, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Industrial Wood Adhesives Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Resin Type and Technology" - https://www.reportlinker.com/p06073141/?utm_source=GNW
Wood adhesive is used to manufacture building materials such as plywood and other laminated veneer products, oriented strandboard, particleboard, laminated beams and timbers, fiberboard, edge- and end jointed products, architectural doors, windows and frames, furniture, floor coverings, ceiling, and wall tiles. The rapidly expanding construction industry is increasing the application of wood, thereby creating scope for industrial wood adhesives.
Based on resin type, the industrial wood adhesives market is bifurcated into natural and synthetic.The synthetic segment held a larger market share in 2019 and it is estimated to maintain its dominance during the forecast period.
Synthetic industrial wood adhesives consist of prepolymers or polymers that are synthetized from the petrochemically derived raw materials.These adhesives must be applied in the liquid form to get disperse over the wet surface of the wood.
However, the prepolymers can be applied directly if they are available in the liquid form or they can be applied as water solutions.The synthetic polymers when applied as adhesives, are melted, dissolved, or emulsified in a solvent prior to the technology.
After being applied, the polymer-based industrial wood adhesives are set by solidification of the melted polymer with the cooling or removal of the solvent through evaporation or adsorption. The natural adhesives are being replaced by synthetic thermosetting resins for the industrial wood panels such as urea formaldehyde (UF) resins, phenol-formaldehyde (PF) resins, and melamine-formaldehyde (MF) resins with better strength and water resistance.
By region, the industrial wood adhesives market is segmented into North America, Europe, Asia Pacific (APAC), South America (SAM), and Middle East & Africa (MEA).In 2019, Asia Pacific contributed to the largest share in the global industrial wood adhesives market.
Rising demand for wood-based products and increasing consumption of wooden furniture in Asia-Pacific countries are contributing to the growth of the market.Asia Pacific has a substantial share of wood adhesives market in terms of value and volume.
Moreover, the region comprises the largest number of wood adhesives producers.A few of the leading companies producing wood adhesives are Henkel AG & Co, Pidilite Industries Ltd, Jubilant Industries Ltd, and Sika AG.
Pidilite Industries Ltd is consumer centric and always focuses on quality and innovation. Sika AG is dedicated to maintain the highest quality standards with its products and services. All these companies offer a range of ready-to-use wood adhesives, which are suitable for many wood joinery purposes. They provide products that are very popular and effective in the woodworking industry.
The COVID-19 outbreak pandemic has adversely affected various industries across the world due to lockdowns, travel bans, and business shutdowns.The manufacturing industry is one of the major industries that are suffering serious disruptions such as supply chain breaks, technology events cancellations, and office shutdowns.
The lockdown of various plants and factories in leading regions such as North America and South America, Europe, and Asia Pacific is restricting the supply chains and negatively impacting the manufacturing activities, delivery schedules, and various goods sales.In addition, travel bans imposed by countries in North America hindered the business collaborations and partnerships opportunities.
All these factors are affecting the construction and manufacturing industries in a negative manner, which is restraining the growth of the industrial wood adhesives market.
H.B.Fuller Company; Henkel AG & Company; KGAA; Ashland; Arkema Group; Sika AG, Pidilite Industries Ltd; Jubilant Industries Ltd; Dow, Inc.; 3M; and Akzo Nobel N.V are among the major players operating in the global industrial wood adhesives market.
The overall global industrial wood adhesives market size has been derived in accordance with to both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the global industrial wood adhesives market.
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