Global Wood Adhesives Market Report 2022 – Market Forecast, Trends And Strategies

21 Feb, 2022

The global 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 is expected to reach $5.92 billion in 2026 at a CAGR of 5.5%.

What is the Global Wood Adhesives Market?

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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What drives the Global Wood Adhesives Market?

The significant increase in spending of consumers on home decorative and luxury furniture products is expected to drive the growth of the wood adhesives market going forward. Wood adhesives are used for most wood joinery purposes and are an effective assembly choice for home decors and wooden furniture. Despite major supply chain challenges, luxury furniture, and home goods retailer RH remains optimistic that robust consumer spending will continue, as the business strives to posture itself beyond curating and selling objects and towards conceiving and selling settings. For instance, RH's net revenue in the second quarter of 2021 was $989 million, up 39% from the previous year and 40% from the second quarter of 2019. RH currently expects its full-year sales in 2021 to grow by 31% to 33%, up from previous predictions of 25% to 30%, based on the stability of the business. Therefore, the increase in spending of consumers on home decorative and luxury furniture products propels the growth of the wood adhesives market.

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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 regions covered in the wood adhesives market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

Wood Adhesives Global Market Report 2022provides market size and growth forecasts for the global wood adhesives market, global wood adhesives market share, wood adhesives market segments and geographies, wood adhesives market competitive landscape including leading competitors’ revenues, profiles and market shares. The wood adhesives market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

Global Wood Adhesives Industry Playersinclude 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. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.