What Has Been the Growth of the Wood Adhesives Market So Far?
The wood adhesives market has seen considerable growth due to a variety of factors.
• There has been a robust expansion in the wood adhesives market in the previous years. The market is projected to rise from a size of $5.45 billion in 2024 to reach $5.81 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 6.6%.
Factors contributing to this growth during the historic period include the construction and furniture sectors, the development of housing and infrastructure, the consumer inclination towards wooden products, refurbishment and remodeling initiatives, and worldwide trends in woodworking.
What Is The Forecast For The Wood Adhesives Market By 2029?
The wood adhesives market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of wood adhesives is predicted to undergo substantial growth in the coming years, expanding to $7.82 billion by 2029 with a Compound Annual Growth Rate (CAGR) of 7.7%.
Factors influencing this growth in the projection period include the implementation of sustainable and environmentally conscious methods, increased demand for fabricated wood goods, urban development and changes in interior design styles, and an emphasis on top-tier adhesives and their use in wooden flooring. Notable trends going into the forecast period include the growing use of hot-melt adhesives, the rising prominence of digital printing in wood panel industry, the concentration on the adoption of fire-resistant adhesives in the construction sector, the application of adhesives in the prefabrication and modular construction sectors, and on-going collaborations in the area of research and innovation.
What Main Forces Are Fueling Expansion In The Wood Adhesives Market?
The wood adhesives market is forecasted to grow due to the rise in consumer spending on home decoration and luxurious furniture items. Wood adhesives are often employed in most timber joinery projects and offer a reliable assembly option for home decoration and wooden furniture. Despite substantial supply chain disruptions, luxury furniture and home goods store, RH, maintains a positive outlook, anticipating strong consumer expenditures to persist as the company aims to transition from simply curating and selling products to devising and selling holistic environments. For example, in 2022, Invest India, a national investment promotion and facilitation organization based in India, reported that India's Furniture market was worth $23.12 Billion. This market is expected to grow at a CAGR of 10.9% from 2023 to 2028, reaching $32.7 Bn by 2026. Thus, the rising consumer expenditure on home decoration and high-end furniture products is fueling the growth of the wood adhesives market.
How Is The Globa Wood Adhesives Market Divided Into Key Segments?
The wood adhesives market covered in this report is segmented –
1) By Product: Urea-Formaldehyde, Melamine Urea-Formaldehyde, Phenol-Formaldehyde, Isocyanates, Polyurethane, Polyvinyl Acetate, Soy-Based, Other Products
2) By Technology: Solvent Based, Water Based, Other Technologies
3) By Resin Type: Natural, Synthetic
4) By Application: Flooring And Decks, Plywood, Furniture, Cabinet, Windows And Doors, Other Applications
Subsegments:
1) By Urea-Formaldehyde: Liquid Urea-Formaldehyde, Powdered Urea-Formaldehyde, Melamine Urea-Formaldehyde
2) By Melamine Urea-Formaldehyde: Liquid Melamine Urea-Formaldehyde, Powdered Melamine Urea-Formaldehyde
3) By Phenol-Formaldehyde: Liquid Phenol-Formaldehyde, Powdered Phenol-Formaldehyde
4) By Isocyanates: Aromatic Isocyanates, Aliphatic Isocyanates
5) By Polyurethane: Flexible Polyurethane, Rigid Polyurethane
6) By Polyvinyl Acetate: Emulsion-Based Polyvinyl Acetate, Solvent-Based Polyvinyl Acetate
7) By Soy-Based: Soy Protein Adhesives, Soy Flour-Based Adhesives
8) By Other Products: Casein-Based Adhesives, Animal-Based Adhesives, Bio-Based Adhesives
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What Trends Are Reshaping The Wood Adhesives Market Landscape?
Leading corporations in the wood adhesives market are making strategic investments to boost product performance, enhance sustainability, and cater to the growing need for environmentally friendly products. Such investments are concentrated on creating advanced adhesive formulations like bio-based and formaldehyde-free adhesives that correspond to environmental regulations and consumer inclinations. For instance, in May 2023, Henkel, a chemical and consumer goods firm based in Germany, inaugurated a new Technology Center in Bridgewater, New Jersey. The center is designed to encourage collaborations with partners and display innovations in adhesives, sealants, and coatings. This move forms part of Henkel's strategy to promote growth and sustainability in the wood adhesives industry, using advanced technologies to match the shifting market requirements.
Who Are the Key Players in the Wood Adhesives Market?
Major companies operating in the wood adhesives market include:
• The Dow Chemical Company
• 3M Company
• BASF SE
• Henkel AG & Co
• Arkema SA
• AkzoNobel N.V
• Sika AG
• Avery Dennison Corporation
• ITW Devcon Inc.
• Bostik SA
• Aica Kogyo Company Limited
• Huntsman Corporation
• Jowat SE
• Pidilite Industries Ltd.
• LORD Corporation
• Jubilant Industries Ltd.
• Beardow Adams Ltd.
• Dymax Corporation
• Chemence Inc.
• Adhesives Research Inc.
• AJ Adhesives Inc.
• W.F. Taylor
• Surebonder
• Permabond LLC
• L.D. Davis Industries Inc.
• RPM International Inc.
• Master Bond Inc.
• Cattie Adhesives
• Collano Adhesives AG
• DAP Products Inc.
• Franklin Adhesives & Polymers
• Ashland Global Holdings Inc.
• Chemique Adhesives Inc.
• Eastman Chemical Company
What are the Regional Insights into the Wood Adhesives Market?
Asia-Pacific was the largest region in the wood adhesives market in 2024. Asia-Pacific is expected to be the fastest-growing region in the wood adhesives market report during the forecast period. The regions covered in the wood adhesives market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
