The report "Wood Adhesives Market by Resin Type (Natural, and Synthetic), Technology (Solvent-Based, Water-Based, Solventless), Application (Flooring & Deck, Plywood, Furniture, Cabinet, Particle Board, Window & Door), and Region - Global Forecast to 2026", The wood adhesives market is projected to grow from USD 4.1 Billion in 2021 to USD 4.9 Billion by 2026, at a CAGR of 3.4% between 2021 and 2026. The applications of wood adhesives are increasing due to different requirements by manufacturers, such as bonding dissimilar materials, the substitution of traditional materials by synthetic substrates, and increasing focus on environmental concerns. From an engineering and design perspective, adhesives are valued because of their ability to bond dissimilar substrates and distribute stress over a wide area.
Browse 211 market data Tables and 53 Figures spread through 218 Pages and in-depth TOC on "Wood Adhesives Market by Resin Type (Natural & Synthetic), Technology (Solvent-based, Water-based, Solventless), Application (Flooring & Deck, Plywood, Furniture, Cabinet, Particle Board, Window & Door) - Global Forecast to 2026"
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Natural resin type segment likely to hold higher share of the wood adhesives market during the forecasted period.
Natural resin-based adhesives have high molecular weight and are biocompatible. The ingredients used in natural resins are biodegradable. They offer notable performances in bonding and have potential applications in industrial as well as commercial high-tech applications. The focus of R&D needs to be on advancements in biotechnology to utilize bio-based resources in a better way.
Natural resin-based adhesives are gaining popularity due to the global trend of sustainable development and the continuous advancements in the field of natural resin-based adhesives. However, the growth was halted due to the COVID-19 pandemic, which caused the market to shut down and disrupted the supply chain. The shutdown caused the sales to go lower than that in the pre-pandemic period.
Water-based technology segment likely to hold largest share of the wood adhesives market during the forecasted period.
The growing awareness toward environment-friendly and sustainable solutions is giving a boost to water-based adhesives. There is a strong movement to replace solvents and solvent-based adhesives in North America and Europe to minimize VOC emissions. This has led to demand growth for water-based adhesives. Water-based solvents have the upper hand on solvent-based adhesives as they are more eco-friendly and less costly. APAC is the largest market with the highest growth rate, and the trend will be followed during the forecast period. The new regulations around solvents used in the adhesive market will also support the growth of water-based adhesives.
Furniture segment hold the largest share in overall wood adhesives market during forecast period.
The furniture market considered in this report includes wooden tables, chairs, sets, desks, beds, and other furnishing items made of wood. The furniture industry is a dynamic one. It is labor-intensive and dominated mostly by unorganized players; this is mainly due to the presence of a large number of small and medium-sized companies operating in local markets. The manufacturing and supply chain were severely affected due to the pandemic all over the world. The market is showing steady and slow growth.
Asia Pacific region likely to account the largest share of the global wood adhesives market during forecasted period.
Asia Pacific is the largest and fastest-growing market for wood adhesives in terms of both value and volume. The growing demand from China and India is responsible for the rapid growth of the wood adhesives market in the region.
The Asia Pacific region accounted for XX% of the global wood adhesives market in 2020 in terms of value. Factors such as huge and increasingly addressable population base and rapid urbanization are the reasons for growth in the region.
The key players profiled in the wood adhesives market report are Henkel AG (Germany), The 3M Company (US), Sika AG (Switzerland), HB. Fuller (US), Arkema (France).
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