The market growth is being led by the increasing demand of adhesives in place of traditional fasteners. They provide strong bonds, clean finishes and are lightweight. They do not rust and have sealant properties.
New York, Oct. 04, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Wood Adhesives Market by Resin Type, Technology, Application - Global Forecast to 2026" - https://www.reportlinker.com/p04507365/?utm_source=GNW
The growing demand in the packaging industry specially in furniture and cabinet. APAC region is the largest market for wood adhesives. The major concern is regarding the environmental and health impact of synthetic resin adhesives.
Natural resin is the faster-growing segment of the market in terms of both volume (3.4%) and value (3.9%).
Natural resin adhesives are gaining popularity due to the global trend of sustainable development and the continuous advancements in the field.The growth was halted due to the global pandemic, which caused the market to shut down and disrupted the supply chain.
The shutdown caused the sales to go lower than in the pre-pandemic period.
Furniture market segment has the highest CAGR in terms of value(3.4%)”.
Furniture is one of the two market segments with the highest CAGR.The use of wood adhesives on wooden products increases their durability and gives good adhesion to the wooden substrate.
Wood adhesives are extensively used in the manufacturing of furniture as they provide a strong bond and aesthetic appeal to the furnishing item. The growth of the wooden furniture industry will drive the wood adhesives market as they are directly related to each other.
APAC is the largest market in all end-use industries due to the presence of major developing economies and large population.
APAC is the largest market for wood adhesives, accounting for a share of 39.3%, in terms of value, in 2020. Less stringent regulations and industry-friendly laws are one of the major drivers of the growth in the market.
Extensive primary interviews have been conducted, and information has been gathered from secondary research to determine and verify the market size of several segments and sub-segments.
Breakdown of Primary Interviews:
• By Company Type: Tier 3 – 27%, Tier 2 – 27%, and Tier 1 – 46%
• By Designation: Directors – 18%, C Level – 36%, and Others – 46%
• By Region: APAC – 18%, North America – 37%, Europe – 36%, South America and the Middle East & Africa – 9%
The key players in the wood adhesive market include Henkel AG ( Düsseldorf, Germany), Sika AG(Baar, Switzerland), The 3M Company(Saint Paul, Minnesota, United States), and Arkema(Colombes, France).
• The wood adhesives market has been segmented based on technology (solvent-based, water-based, solventless), resin type (natural and synthetic), application (Furniture, cabinet, plywood, flooring & decks, particleboard, windows & doors.) and region (APAC, Europe, North America, South America, and Middle East & Africa).
Reasons to Buy the Report
From an insight perspective, this research report focuses on various levels of analyses — industry analysis (industry trends), market share analysis of top players, and company profiles, which together comprise and discuss the basic views on the competitive landscape; emerging and high-growth segments of the market; high growth regions; and market drivers, restraints, opportunities, and challenges.
The report provides insights on the following pointers:
• Updated financial information/ product portfolio of players
Newer and improved representation of financial information: The new edition of the report provides updated financial information in the context of the wood adhesives market till 2019/2020 for each listed company in graphical representation in a single diagram. This would help easily analyze the present status of profiled companies in terms of their financial strength, profitability, key revenue-generating region/country, business segment focus in terms of the highest revenue-generating segment, and investment on R&D activities.
• Updated market developments of profiled players
Recent Market Developments: Recent developments are helpful to know the market trends and growth strategies adopted by players in the market. Current analysis shows that investment & expansion was a popular growth strategy followed by players during 2016-2021.
• Coverage of new market players Ecosystem:
Company profiles give a glimpse of the key players in the market with respect to business overview, financials, product offerings, and recent developments.In the new edition of the report, overall, 21 players have been profiled who are active in the barrier resins market.
The key players adopted various strategies in the barrier resins market. These strategic developments have challenged the status quo of industry leaders, and it is prudent to analyze the changing business landscape.
• Addition in historical and forecasting years:
In the previous edition of the report, we considered the period from 2014 to 2026. In the latest edition, the market sizing and forecasting are done for the period between 2019 and 2026.
• Competitive Leadership Mapping:
By understanding the product portfolio and the strategies adopted, we have developed competitive leadership mapping, which segments total market players among four quadrants based on strength of product portfolio and business strategy excellence.
• Case Studies/ Commercialization of Concept /New Use case:
The main objective of the study was to ascertain the impact of several macro as well as micro-economic factors on the current and future demand for barrier resins to help the stakeholders to prioritize strategic decisions.
• Value Chain Analysis:
Provided analysis of the barrier resins market supply chain and qualitative insights. Included company analysis and depict their integration across the value chain.
• COVID-19 Impact Analysis:
Included analysis of how the market will behave post-COVID-19. Provided qualitative insights regarding the COVID-19 impact on the supply chain, end-use industries, regions, market players, etc.
• Patent Analysis:
This patent analysis offers crucial insights into patent filing, business interests, and patenting activities year-wise and country-wise.The patent analysis involves techniques and tools to research the knowledge contained in and attached to patents.
This study defines patents claiming inventions linked to wood adhesives.For this study, a well-planned strategy was devised.
The keywords were used to search the ‘Title and Abstract’ of patents; relevant patents were then categorized and analyzed. Since this chapter aims to provide an overview of patenting activity in the titled area, the source used for this analysis is Patentscope-Wipo, Espacenet, USPTO Patent Database, The Lens - Patent and Scholarly Search.
Provided strategic insights on each of the nodes present in the ecosystem of barrier resins market through knowledge store, highly interactive market intelligence platform.
• Pricing Analysis:
Price analysis is done based on the average price for wood adhesives sold in the global market. The global price is likely to vary in the future and is also dependent on raw material prices.
• Market Share Analysis:
The market share is provided by considering the segment revenue pertaining to wood adhesives of the respective companies.
• Top 5 Company Revenue Analysis:
The top 5 company revenue analysis is provided by considering the overall revenue and profitability of the key players in the barrier resins.
• SME Quadrant:
The SME Matrix analysis provides information about the emerging players that offer wood adhesives and outlines the findings.This analysis provides information about the performance of wood adhesives manufacturers in terms of product offerings and business strategies.
The emerging companies are classified into four categories based on certain criteria. The categories are progressive, starting blocks, responsive, and dynamic.
• Regulatory and Safety requirements:
This helps a client or player to know when it is trying to enter this market, or prospecting for a raw material supplier/vendor.
• Trade Data:
This provides the import-export data for barrier resins in terms of value for various countries.
• Adjacent Market Data:
Mentioned the solvent-based adhesives in adjacent market data, as it is exhibiting high growth. Mentioned market inter-connections impact growth of players.
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