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Wood Adhesives Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026
The Business Research Company's Wood Adhesives Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026
LONDON, GREATER LONDON , UK, August 4, 2022 /EINPresswire.com / -- As per The Business Research Company's ' Wood Adhesives Global Market Report 2022”, the wood adhesives market size is expected to grow from $4.40 billion in 2021 to $4.78 billion in 2022 at a compound annual growth rate (CAGR) of 8.6%. The growth in the market is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The wood adhesive market share is expected to reach $5.92 billion in 2026 at a CAGR of 5.5%. The significant increase in spending of consumers on home decorative and luxury furniture products is expected to drive the wood adhesives market growth going forward.
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Key Trends In The Global Wood Adhesives Market
According to the wood adhesives industry analysis, strategic collaborations are shaping the market. Strategic collaborations provide manufacturers of wood adhesives with a broader distribution range, which aids in market growth. For instance, in June 2021, to meet the increased demand for adhesive applications in the b2b woodworking industry, HB Fuller has signed a distribution deal with Jubilant Agri and Consumer Products, a 100% subsidiary of Jubilant Industries. This strategic partnership will help HB Fuller expand the reach of its high-performing adhesive solutions across a variety of technologies, including water-based, hot melt moisture cures, and polyurethanes, to better meet customers' specific adhesion and sustainability needs, while also providing access to global experts and local expertise, service, and technical support. Furthermore, in April 2021, Innovative Chemical Products Group (ICP Group) acquired Choice Adhesives. With the acquisition of Choice Adhesives to the ICP BSG family, the ICP BSG family will be able to effectively support its professional clients in the roofing adhesive sector.
The wood adhesives market consists of the sale of wood adhesives by the entities (organization, sole proprietor, and partnerships) that are utilized to bind wooden materials with each other or with diverse materials. Wood adhesives are polymeric compounds capable of reacting with the surface of the wood in such a way that stresses are passed between bonded parts, either physically or chemically, or both. Wood adhesives are commonly used to manufacture building materials such as plywood and other laminated veneer products, particleboard, oriented strand board, fiberboard, laminated beams and timbers, edge- and enjoined products, architectural doors, windows and frames, and fiberglass insulation.
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Global Wood Adhesives Market Segments
The global wood adhesives market is segmented:
By Product: Urea-Formaldehyde, Melamine Urea-Formaldehyde, Phenol-Formaldehyde, Isocyanates, Polyurethane, Polyvinyl Acetate, Soy-Based, Others
By Technology: Solvent Based, Water Based, Others
By Resin Type: Natural, Synthetic
By Application: Flooring and Decks, Plywood, Furniture, Cabinet, Windows and Doors, Others
By Geography: The global wood adhesives market report is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific holds the largest share in the market.
Wood Adhesives Global Market Report 2022 is one of The Business Research Company's comprehensive reports that provides an overview of wood adhesives market. The market report analyzes wood adhesives market size, wood adhesives market growth drivers, wood adhesives market segments, wood adhesives market major players, wood adhesives market growth across geographies, and wood adhesives market competitors' revenues and market positioning. The wood adhesives market report enables you to gain insights on opportunities and strategies, as well as identify countries and segments with the highest growth potential.
Wood Adhesives Global Market Report 2022 from TBRC covers the following information:
Data Segmentations: Market Size, Global, By Region and Country, Historic and Forecast, and Growth Rates for 60 Geographies
Major Market Players: Henkel AG & Co., H.B. Fuller, 3M, Sika AG, The Dow Chemical Company, AkzoNobel N.V, Bostik, Pidilite Industries, Huntsman Corporation, Arkema, Jubilant Industries, Aica Kogyo Company Limited, Avery Dennison, Adhesives Research Inc., and W.F. Taylor.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
And so much more.
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