Global Wood Adhesives Market worth $22.8 billion by 2030
According to a research report published by Spherical Insights & Consulting, the Global Wood Adhesives Market Size to grow from USD 5.27 billion in 2021 to USD 22.8 billion by 2030, at a Compound Annual Growth Rate (CAGR) of 4.8% during the forecast period.
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The wood adhesives market has grown due to the increasing construction demands, and increased demands of furniture, and housing components manufacturing. There are advancements in new technologies to help ease the wood adhesives experience of people, which is expected to provide growth opportunities for the market during the forecast period.
Browse 101 market data Tables and 73 Figures spread through 220 Pages and in-depth TOC on “Global Wood Adhesives Market Size, Share, and COVID-19 Impact Analysis, By Product Type (Polyurethane, Isocyanates, Urea-formaldehyde, Phenol-formaldehyde, Polyvinyl Acetate, Epoxy and Others), By Technology (Water-Based, Solvent-Based and Others), By Substrate (Plywood, Fiberboards, Oriented Standard Boards, Solid Woods and Others), By End User (Housing Components, Doors and Windows, Flooring, Furniture and Others) and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2021 – 2030.”
View a detailed Table of Content here – https://www.sphericalinsights.com/table-of-contents/wood-adhesives-market
On credit portfolios, the COVID-19 epidemic has had a negative effect. The enormous growth has hampered the solvency of customers and business in unemployment and interruption of economic activity. Central banks have adopted a proactive strategy of injecting money into the market by decreasing interest rates and implementing asset purchase programmes. With persistent geopolitical tensions, global trade battles, and sporadic hurricanes and earthquakes, managing and monitoring credit, market, liquidity, and operational risk across financial markets was challenging enough. Chief risk officers and their teams have had to reevaluate outdated methods and assumptions used to manage and monitor risk due to the present pandemic crisis. The global repercussions of COVID-19 have demonstrated the significance of interconnection in international cooperation. As a result, many governments have been hurrying to find, assess, and buy trustworthy AI-powered solutions.
The urea-formaldehyde segment to account for the largest market size during the forecast period
Based on the product type, the wood adhesives market is categorized into polyurethane, isocyanates, urea-formaldehyde, phenol-formaldehyde, polyvinyl acetate, epoxy and others. The urea-formaldehyde segment to account for the largest market size during the forecast period. The demand for urea-formaldehyde is increasing because it exhibits outstanding flexural modulus and high tensile strength due to which it is widely used in particleboard and interior-grade plywood.
The solvent-based segment to hold a higher CAGR during the forecast period
Based on the technology, the wood adhesives market is categorized into water-based, solvent-based and others. The solvent-based segment to hold a higher CAGR during the forecast period. Solvent-based adhesives come in liquid form. Solvent-based adhesives dry quickly because the solvent evaporates when introduced into a polymer solution due to which the demand for solvent-based adhesives accounts for a major share in the growth of the market.
The oriented strand boards segment to hold a higher CAGR during the forecast period
Based on the substrate, the wood adhesives market is categorized into plywood, fiberboards, oriented standard boards, solid woods and others. The oriented strand boards segment to hold a higher CAGR during the forecast period. The increased demand for oriented strand boards is because it offers resistance against water when the dried strands are combined with glue and wax to build a board.
The furniture segment to hold a higher CAGR during the forecast period.
Based on the end user, the wood adhesives market is categorized into housing components, doors and windows, flooring, furniture and others. The furniture segment to hold a higher CAGR during the forecast period. The rising demand for wood adhesives to be used in furniture manufacturing since they provide excellent bonding abilities accounts for a major share in the growth of the wood adhesives market.
Europe to hold a higher CAGR during the forecast period.
The Global Wood Adhesives Market has been segmented into five major regions: North America, Europe, Asia-Pacific, South America, The Middle East and Africa. Asia Pacific is estimated to account for the highest market share in 2022. Asia Pacific is expected to be the largest market. Rapid urbanization in the region is responsible for the growth of the wood adhesives market.
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Major vendors in the Global Wood Adhesives Market include Sika AG, 3M Company, Akzo Nobel NV,
Bostik SA, HB Fuller, Jubilant Industries Ltd., Henkel AG, Minnesota, Pidilite Industries, The DOW Chemical Company, Franklin Adhesives and Polymers, and KGaA.
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