Wood Adhesives Market Report
RA07763
Wood Adhesives Market, by Application (Flooring, Furniture, Doors & windows, Housing components, Others), Product (Urea-Formaldehyde (UF), Melamine Urea-Formaldehyde (MUF), Phenol-Formaldehyde (PF), Isocyanates, Polyurethane, Polyvinyl Acetate (PVA), Soy-Based, Others), Fleet Material (Solid wood, Oriented strand board (OSB), Plywood, Particleboard (PB), Medium-density fiberboard (MDF), High-density fiberboard (HDF), Others): Global Opportunity Analysis and Industry Forecast, 2020-2027
Wood Adhesives Overview
Wood adhesives, wood glues, or wood bonding agents are the substances that are used to adhere pieces of wood together. In the production of furniture, cabinets, flooring, and other woodworking crafts, they are crucial to numerous woodworking processes. Wood adhesives create solid, long-lasting connections between surfaces made of wood, guaranteeing structural integrity and raising the general calibre of wood-based items. The building, furniture, and packaging sectors, among others, all rely heavily on wood adhesives. Wood adhesives are used to join the wood substances together to give wood products strength, durability and stability.
Global Wood Adhesives Market Analysis
The global wood adhesives market size was $5,369.4 million in 2022 and is predicted to grow with a CAGR of 5.6%, by generating a revenue of $9,209.3 million by 2032.
COVID-19 Impact on Global Wood Adhesives Market
The pandemic caused problems in the world's supply chains, affecting things like raw materials transportation and availability for wood adhesives. The timely delivery of raw materials was hampered by lockdown procedures, travel restrictions, and restricted manufacturing capacities of suppliers, potentially disrupting the supply chain. Due to decreased building operations, temporary closures of production facilities, and decreased consumer demand, the construction and furniture industries both faced a slowdown during the epidemic. The demand for wood adhesives was directly impacted by this drop in building and furniture production.
The economic recovery of the global economy is anticipated to boost the building and furniture sectors. Since wood adhesives are necessary for bonding wood components in numerous building and furniture applications, this will result in a rise in demand for them. The epidemic has further emphasised the significance of environmental stewardship. The demand for and understanding of environmentally friendly and sustainable products among consumers has grown recently. In the post-COVID-19 era, it is projected that focus would more on manufacturing wood adhesives that are safe for the environment, contain few volatile organic compounds (VOCs), and adhere to environmental regulations.
Growing Construction and Building Activities to Drive the Market Growth
The market for wood adhesives is significantly influenced by the building sector. Wood adhesives are continuously in demand due to rising urbanisation, infrastructure development, and construction projects around the world for a variety of uses, such as attaching wood panels, laminates, flooring, and structural components. For the assembly and gluing of wood components, the furniture and woodworking industries significantly rely on wood adhesives. The need for wood adhesives expands along with the demand for furniture and other wood items around the world, which is fuelled by factors like population expansion, increased disposable incomes, and shifting customer tastes. Due to their sturdiness, affordability, and sustainability, engineered wood products including plywood, laminated veneer lumber (LVL), and particleboard have become more and more popular. The need for wood adhesives is fuelled by the critical bonding and strengthening function that wood adhesives provide for these engineered wood products.
Volatility in Raw Material Prices to Restrain Market Growth
Resins, additives, and solvents are only a few of the raw components used to make wood adhesives. The cost of production for producers of wood adhesives can be greatly impacted by changes in the price of these raw materials. For market participants, price volatility might result in higher manufacturing costs and lower profit margins. Wood adhesives, especially those manufactured of synthetic resins, may include substances that are harmful to the environment and human health. Some wood adhesives may only be used under rigorous guidelines that limit the use and emission of toxic substances like formaldehyde and volatile organic compounds (VOCs), and manufacturers may be obliged to adhere to strict standards. The production and formulation of wood adhesives may become more complicated and expensive due to compliance with environmental standards. Alternative bonding techniques, such as mechanical fasteners, nails, screws, and cutting-edge joining technologies like laser bonding and ultrasonic welding, compete with wood adhesives. These alternative methods may provide benefits like quicker installation, disassembly, or special performance characteristics, depending on the application and particular requirements, which could pose a problem for the widespread use of wood adhesives.
Increasing Demand for Sustainable and Eco-Friendly Adhesives to Drive Excellent Opportunities
Demand for sustainable and environmentally friendly wood adhesives is rising as a result of increased environmental awareness and stronger restrictions. Opportunities exist to satisfy this demand with bio-based adhesives, such as those made from renewable resources or biopolymers. A big potential for producers of wood adhesives is to provide novel, low-VOC (volatile organic compound) formulations that offer outstanding bonding performance while reducing environmental impact. The performance and effectiveness of wood adhesives can be increased thanks to ongoing developments in adhesive technology, such as better bonding agents, curing mechanisms, and application techniques. These advances may lead to improved bonding, shorter cure times, and increased resistance to heat, moisture, and other environmental factors.
Businesses can benefit from emerging market opportunities by making R&D investments that foster product innovation and distinction. Major customers of wood adhesives include the furniture and construction sectors. As world's population grows and urbanisation continues, there is a constant demand for residential and commercial construction projects, as well as furniture manufacturing. The opportunity to grow their clientele and meet the escalating demand for adhesives in the construction and furniture industries currently exists for producers of wood adhesives.
Global Wood Adhesives Market Share, by Product, 2022
The urea-formaldehyde (UF) sub-segment accounted for the highest share in 2022. In the market for wood adhesives, there are many different types of adhesives, including the urea-formaldehyde (UF) glue. To join wood-based panels like plywood, particleboard, and medium-density fibreboard (MDF), the woodworking industry typically uses UF adhesive, a thermosetting glue. In comparison to other wood adhesives, UF adhesives are noted for being more affordable, which makes them a popular option for applications that have a limited budget. UF adhesives are easily accessible in the market, where a variety of UF adhesive materials are offered by different producers.
Global Wood Adhesives Market Share, by Application, 2022
The furniture sector accounted for the highest market size in 2022. The furniture industry makes considerable use of wood adhesives to combine various parts, including panels, frames, veneers, and edges. They are essential in preserving the durability and structural integrity of furniture products. Case goods, such as cabinets, dressers, tables, and shelving units, are put together using wood adhesives. To make solid and dependable furniture, they join wood panels, frames, and other structural elements. Foam padding is attached to timber frames of upholstered furniture including couches, chairs, and ottomans using adhesives. This ensures adequate cushioning and comfort as well as the security of the upholstery materials. To improve appearances, thin pieces of wood known as veneers are frequently placed to furniture surfaces. Veneers are attached to substrates using wood adhesives, resulting in a smooth, attractive appearance.
Global Wood Adhesives Market Share, by Substrate, 2022
The particle board (PB) sector accounted for the highest market size in 2022. Particle board is created by blending wood shavings, chips, or sawdust with a wood glue. After pressing and heating the mixture, a dense, hard board is produced. In order to create particle board that is both strong and sturdy, wood adhesives are essential. They hold the wood particles together. Because they are inexpensive and have excellent bonding abilities, UF adhesives are frequently utilised in the production of particle board. They help in giving structural stability to the particle board and offer great adhesion between the wood particles. In comparison to UF adhesives, PF adhesives have improved moisture resistance and durability. They are frequently utilised in applications where particle board might be subjected to greater amounts of humidity or moisture, including in some outdoor or damp locations. MUF adhesives improve moisture resistance and strength by fusing the advantages of urea-formaldehyde and melamine resins. They are frequently employed in applications requiring better performance or particle board of the furniture grade.
Global Wood Adhesives Market Share, by Region, 2022
The Asia-Pacific wood adhesives market generated the highest revenue in 2022. The Asia-Pacific area has a substantial market for wood adhesives, which is fuelled by the quickening growth of a number of industries like construction, furniture manufacturing, packaging, and automotive. Growing economic activity, urbanisation, and population growth all contribute to an increase in demand for goods made of wood, which drives up the demand for wood adhesives. In the upcoming years, the industry is anticipated to experience a consistent rise. Rapid infrastructural growth and modernization in the Asia-Pacific area are driving up demand for wood-based goods. The fabrication of plywood, laminated veneer lumber (LVL), and other engineered wood products used in building constructions, furniture, and interior design depend on wood adhesives. The need for wood adhesives is driven by the large contributions of nations like China, India, Vietnam, and Malaysia to the region's furniture manufacturing industry.
Competitive Scenario in the Global Wood Adhesives Market
Product development and geographic expansion are major players functioning in the highly competitive global wood adhesives market. In July 2022, Henkel Adhesive Technologies invested in 3RT in Melbourne, Australia, to broaden its knowledge of timber building solutions. Henkel plans to utilise the funding to grow its engineered wood business and quicken the adoption of environmentally friendly, cutting-edge technology.
Some of the leading wood adhesives market players are H.B. Fuller, Henkel AG & Co., KGaA, Bostik S.A., 3M, Sika AG, AkzoNobel N.V., Ashland, Inc., Pidilite Industries Ltd., DowDuPont Inc., Jubilant Industries Ltd.
| Aspect | Particulars |
| Historical Market Estimations | 2021 |
| Base Year for Market Estimation | 2022 |
| Forecast Timeline for Market Projection | 2023-2032 |
| Geographical Scope | North America, Europe, Asia-Pacific, and LAMEA |
| Segmentation by Product |
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| Segmentation by Application |
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| Segmentation by Substrate |
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| Key Companies Profiled |
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Q1. What is the size of the wood adhesives market?
A. The size of the wood adhesives market was over $5,369.4 million in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 5.6% during the forecast period.
Q2. Which are the major companies in the wood adhesives market?
A. Sika AG and H.B. Fuller are some of the key players in the global wood adhesives market.
Q3. Which region, among others, possesses greater investment opportunities in the near future?
A. The Asia-Pacific region possesses great investment opportunities for investors to witness the most promising growth in the future.
Q4. What are the strategies opted by the leading players in this market?
A. Product development and geographic expansion are the two key strategies opted by the operating companies in this market.
Q5. Which companies are investing more on R&D practices?
A. Sika AG and H.B. Fuller are the companies investing more on R&D activities for developing new products and technologies.
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1. RESEARCH METHODOLOGY
1.1. Desk Research
1.2. Real time insights and validation
1.3. Forecast model
1.4. Assumptions and forecast parameters
1.5. Market size estimation
1.5.1. Top-down approach
1.5.2. Bottom-up approach
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2. REPORT SCOPE
2.1. Market definition
2.2. Key objectives of the study
2.3. Report overview
2.4. Market segmentation
2.5. Overview of the impact of COVID-19 on Global Wood Adhesives Market
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3. EXECUTIVE SUMMARY
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4. MARKET OVERVIEW
4.1. Introduction
4.2. Growth impact forces
4.2.1. Drivers
4.2.2. Restraints
4.2.3. Opportunities
4.3. Market value chain analysis
4.3.1. List of raw material suppliers
4.3.2. List of manufacturers
4.3.3. List of distributors
4.4. Innovation & sustainability matrices
4.4.1. Technology matrix
4.4.2. Regulatory matrix
4.5. Porter’s five forces analysis
4.5.1. Bargaining power of suppliers
4.5.2. Bargaining power of consumers
4.5.3. Threat of substitutes
4.5.4. Threat of new entrants
4.5.5. Competitive rivalry intensity
4.6. PESTLE analysis
4.6.1. Political
4.6.2. Economical
4.6.3. Social
4.6.4. Technological
4.6.5. Environmental
4.7. Impact of COVID-19 on Wood Adhesives Market
4.7.1. Pre-covid market scenario
4.7.2. Post-covid market scenario
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5. Wood Adhesives Market, By Type
5.1. Overview
5.2 Flooring
5.2.1 Definition, key trends, growth factors, and opportunities
5.2.2 Market size analysis, by region, 2020-2027
5.2.3 Market share analysis, by country, 2020-2027
5.3 Furniture
5.3.1 Definition, key trends, growth factors, and opportunities
5.3.2 Market size analysis, by region, 2020-2027
5.3.3 Market share analysis, by country, 2020-2027
5.4 Doors & windows
5.4.1 Definition, key trends, growth factors, and opportunities
5.4.2 Market size analysis, by region, 2020-2027
5.4.3 Market share analysis, by country, 2020-2027
5.5 Housing components
5.5.1 Definition, key trends, growth factors, and opportunities
5.5.2 Market size analysis, by region, 2020-2027
5.5.3 Market share analysis, by country, 2020-2027
5.6 Others
5.6.1 Definition, key trends, growth factors, and opportunities
5.6.2 Market size analysis, by region, 2020-2027
5.6.3 Market share analysis, by country, 2020-2027
5.7 Research Dive Exclusive Insights
5.7.1 Market attractiveness
5.7.2 Competition heatmap
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6. Wood Adhesives Market, By Form
6.1. Overview
6.2 Urea-Formaldehyde (UF)
6.2.1 Definition, key trends, growth factors, and opportunities
6.2.2 Market size analysis, by region, 2020-2027
6.2.3 Market share analysis, by country, 2020-2027
6.3 Melamine Urea-Formaldehyde (MUF)
6.3.1 Definition, key trends, growth factors, and opportunities
6.3.2 Market size analysis, by region, 2020-2027
6.3.3 Market share analysis, by country, 2020-2027
6.4 Phenol-Formaldehyde (PF)
6.4.1 Definition, key trends, growth factors, and opportunities
6.4.2 Market size analysis, by region, 2020-2027
6.4.3 Market share analysis, by country, 2020-2027
6.5 Isocyanates
6.5.1 Definition, key trends, growth factors, and opportunities
6.5.2 Market size analysis, by region, 2020-2027
6.5.3 Market share analysis, by country, 2020-2027
6.6 Polyurethane
6.6.1 Definition, key trends, growth factors, and opportunities
6.6.2 Market size analysis, by region, 2020-2027
6.6.3 Market share analysis, by country, 2020-2027
6.7 Polyvinyl Acetate (PVA)
6.7.1 Definition, key trends, growth factors, and opportunities
6.7.2 Market size analysis, by region, 2020-2027
6.7.3 Market share analysis, by country, 2020-2027
6.8 Soy-Based
6.8.1 Definition, key trends, growth factors, and opportunities
6.8.2 Market size analysis, by region, 2020-2027
6.8.3 Market share analysis, by country, 2020-2027
6.9 Others
6.9.1 Definition, key trends, growth factors, and opportunities
6.9.2 Market size analysis, by region, 2020-2027
6.9.3 Market share analysis, by country, 2020-2027
6.10 Research Dive Exclusive Insights
6.10.1 Market attractiveness
6.10.2 Competition heatmap
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7. Wood Adhesives Market,
7.1. Overview
7.2 Solid wood
7.2.1 Definition, key trends, growth factors, and opportunities
7.2.2 Market size analysis, by region, 2020-2027
7.2.3 Market share analysis, by country, 2020-2027
7.3 Oriented strand board (OSB)
7.3.1 Definition, key trends, growth factors, and opportunities
7.3.2 Market size analysis, by region, 2020-2027
7.3.3 Market share analysis, by country, 2020-2027
7.4 Plywood
7.4.1 Definition, key trends, growth factors, and opportunities
7.4.2 Market size analysis, by region, 2020-2027
7.4.3 Market share analysis, by country, 2020-2027
7.5 Particleboard (PB)
7.5.1 Definition, key trends, growth factors, and opportunities
7.5.2 Market size analysis, by region, 2020-2027
7.5.3 Market share analysis, by country, 2020-2027
7.6 Medium-density fiberboard (MDF)
7.6.1 Definition, key trends, growth factors, and opportunities
7.6.2 Market size analysis, by region, 2020-2027
7.6.3 Market share analysis, by country, 2020-2027
7.7 High-density fiberboard (HDF)
7.7.1 Definition, key trends, growth factors, and opportunities
7.7.2 Market size analysis, by region, 2020-2027
7.7.3 Market share analysis, by country, 2020-2027
7.8 Others
7.8.1 Definition, key trends, growth factors, and opportunities
7.8.2 Market size analysis, by region, 2020-2027
7.8.3 Market share analysis, by country, 2020-2027
7.9 Research Dive Exclusive Insights
7.9.1 Market attractiveness
7.9.2 Competition heatmap
8. Wood Adhesives Market, By Region
8.1 North America
8.1.1 U.S
8.1.1.1 Market size analysis, By Type, 2020-2027
8.1.1.2 Market size analysis, By Form, 2020-2027
8.1.1.3 Market size analysis, , 2020-2027
8.1.2 Canada
8.1.2.1 Market size analysis, By Type, 2020-2027
8.1.2.2 Market size analysis, By Form, 2020-2027
8.1.2.3 Market size analysis, , 2020-2027
8.1.3 Mexico
8.1.3.1 Market size analysis, By Type, 2020-2027
8.1.3.2 Market size analysis, By Form, 2020-2027
8.1.3.3 Market size analysis, , 2020-2027
8.1.4 Research Dive Exclusive Insights
8.1.4.1 Market attractiveness
8.1.4.2 Competition heatmap
8.2 Europe
8.2.1 Germany
8.2.1.1 Market size analysis, By Type, 2020-2027
8.2.1.2 Market size analysis, By Form, 2020-2027
8.2.1.3 Market size analysis, , 2020-2027
8.2.2 UK
8.2.2.1 Market size analysis, By Type, 2020-2027
8.2.2.2 Market size analysis, By Form, 2020-2027
8.2.2.3 Market size analysis, , 2020-2027
8.2.3 France
8.2.3.1 Market size analysis, By Type, 2020-2027
8.2.3.2 Market size analysis, By Form, 2020-2027
8.2.3.3 Market size analysis, , 2020-2027
8.2.4 Spain
8.2.4.1 Market size analysis, By Type, 2020-2027
8.2.4.2 Market size analysis, By Form, 2020-2027
8.2.4.3 Market size analysis, , 2020-2027
8.2.5 Italy
8.2.5.1 Market size analysis, By Type, 2020-2027
8.2.5.2 Market size analysis, By Form, 2020-2027
8.2.5.3 Market size analysis, , 2020-2027
8.2.6 Rest of Europe
8.2.6.1 Market size analysis, By Type, 2020-2027
8.2.6.2 Market size analysis, By Form, 2020-2027
8.2.6.3 Market size analysis, , 2020-2027
8.2.7 Research Dive Exclusive Insights
8.2.7.1 Market attractiveness
8.2.7.2 Competition heatmap
8.3 Asia-Pacific
8.3.1 China
8.3.1.1 Market size analysis, By Type, 2020-2027
8.3.1.2 Market size analysis, By Form, 2020-2027
8.3.1.3 Market size analysis, , 2020-2027
8.3.2 Japan
8.3.2.1 Market size analysis, By Type, 2020-2027
8.3.2.2 Market size analysis, By Form, 2020-2027
8.3.2.3 Market size analysis, , 2020-2027
8.3.3 India
8.3.3.1 Market size analysis, By Type, 2020-2027
8.3.3.2 Market size analysis, By Form, 2020-2027
8.3.3.3 Market size analysis, , 2020-2027
8.3.4 Australia
8.3.4.1 Market size analysis, By Type, 2020-2027
8.3.4.2 Market size analysis, By Form, 2020-2027
8.3.4.3 Market size analysis, , 2020-2027
8.3.5 South Korea
8.3.5.1 Market size analysis, By Type, 2020-2027
8.3.5.2 Market size analysis, By Form, 2020-2027
8.3.5.3 Market size analysis, , 2020-2027
8.3.6 Rest of Asia-Pacific
8.3.6.1 Market size analysis, By Type, 2020-2027
8.3.6.2 Market size analysis, By Form, 2020-2027
8.3.6.3 Market size analysis, , 2020-2027
8.3.7 Research Dive Exclusive Insights
8.3.7.1 Market attractiveness
8.3.7.2 Competition heatmap
8.4 LAMEA
8.4.1 Brazil
8.4.1.1 Market size analysis, By Type, 2020-2027
8.4.1.2 Market size analysis, By Form, 2020-2027
8.4.1.3 Market size analysis, , 2020-2027
8.4.2 Saudi Arabia
8.4.2.1 Market size analysis, By Type, 2020-2027
8.4.2.2 Market size analysis, By Form, 2020-2027
8.4.2.3 Market size analysis, , 2020-2027
8.4.3 UAE
8.4.3.1 Market size analysis, By Type, 2020-2027
8.4.3.2 Market size analysis, By Form, 2020-2027
8.4.3.3 Market size analysis, , 2020-2027
8.4.4 South Africa
8.4.4.1 Market size analysis, By Type, 2020-2027
8.4.4.2 Market size analysis, By Form, 2020-2027
8.4.4.3 Market size analysis, , 2020-2027
8.4.5 Rest of LAMEA
8.4.5.1 Market size analysis, By Type, 2020-2027
8.4.5.2 Market size analysis, By Form, 2020-2027
8.4.5.3 Market size analysis, , 2020-2027
8.4.6 Research Dive Exclusive Insights
8.4.6.1 Market attractiveness
8.4.6.2 Competition heatmap
9. Competitive Landscape
9.1 Top winning strategies, 2020-2027
9.1.1 By strategy
9.1.2 By year
9.2 Strategic overview
9.3 Market share analysis, 2020-2027
10. Company Profiles
10.1 Henkel AG & Co. KGaA
10.1.1 Overview
10.1.2 Business segments
10.1.3 Product portfolio
10.1.4 Financial performance
10.1.5 Recent developments
10.1.6 SWOT analysis
10.2 H.B. Fuller
10.2.1 Overview
10.2.2 Business segments
10.2.3 Product portfolio
10.2.4 Financial performance
10.2.5 Recent developments
10.2.6 SWOT analysis
10.3 3M Company
10.3.1 Overview
10.3.2 Business segments
10.3.3 Product portfolio
10.3.4 Financial performance
10.3.5 Recent developments
10.3.6 SWOT analysis
10.4 Ashland Inc.
10.4.1 Overview
10.4.2 Business segments
10.4.3 Product portfolio
10.4.4 Financial performance
10.4.5 Recent developments
10.4.6 SWOT analysis
10.5 Sika A.G.
10.5.1 Overview
10.5.2 Business segments
10.5.3 Product portfolio
10.5.4 Financial performance
10.5.5 Recent developments
10.5.6 SWOT analysis
10.6 The Dow Chemical Company
10.6.1 Overview
10.6.2 Business segments
10.6.3 Product portfolio
10.6.4 Financial performance
10.6.5 Recent developments
10.6.6 SWOT analysis
10.7 AkzoNobel N.V.
10.7.1 Overview
10.7.2 Business segments
10.7.3 Product portfolio
10.7.4 Financial performance
10.7.5 Recent developments
10.7.6 SWOT analysis
10.8 Bostik SA
10.8.1 Overview
10.8.2 Business segments
10.8.3 Product portfolio
10.8.4 Financial performance
10.8.5 Recent developments
10.8.6 SWOT analysis
10.9 Pidilite Industries
10.9.1 Overview
10.9.2 Business segments
10.9.3 Product portfolio
10.9.4 Financial performance
10.9.5 Recent developments
10.9.6 SWOT analysis
10.10 Company 10
10.10.1 Overview
10.10.2 Business segments
10.10.3 Product portfolio
10.10.4 Financial performance
10.10.5 Recent developments
10.10.6 SWOT analysis
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