Industrial Wood Adhesives Market Size, Share, Value, and Growth Opportunities 2023 | Global Market is Segmented by Product Type, By Technology, By Substrate, By End User, and By Region

Hyderabad, India -- (SBWire) -- 03/01/2023 --The industrial wood adhesives market is a rapidly growing sector of the global adhesives market. Industrial wood adhesives are used for bonding wood-based products such as plywood, particleboard, MDF, and laminates, among others. These adhesives are designed to provide excellent bonding performance, durability, and resistance to moisture, heat, and chemicals.

The growth of the market is primarily driven by the increasing demand for wood-based products in the construction and furniture industries, as well as the growth of the packaging and transportation industries.

Market Size and Future Apprehension:

According to the most recent USD Analytics analysis, the worldwide "Industrial Wood Adhesives Market" is expected to grow at a CAGR of 6.57% during the forecast period 2023-2030.

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Market Drivers:

One of the major drivers of the industrial wood adhesives market is the construction industry. With the increasing demand for sustainable and eco-friendly building materials, wood-based products have become popular in the construction industry. This has resulted in the growing demand for industrial wood adhesives for bonding these products. Additionally, the growing trend of prefabricated and modular construction is also driving the demand for industrial wood adhesives, as they are used for bonding the wooden components of these structures.

Market Opportunities:
-Growing demand for sustainable and eco-friendly building materials:

With the increasing awareness of environmental issues, there is a growing demand for sustainable and eco-friendly building materials. Wood-based products are considered more sustainable than traditional building materials such as concrete and steel, as they are renewable and biodegradable. This presents a significant opportunity for industrial wood adhesive manufacturers, as these adhesives are an essential component of wood-based products.

-Increasing demand for high-quality and aesthetically pleasing furniture:

The furniture industry is one of the major end-users of industrial wood adhesives. With the growing demand for high-quality, durable, and aesthetically pleasing furniture, there is an increasing need for strong and reliable adhesives that can bond the different parts of furniture. This presents an opportunity for manufacturers to develop innovative adhesive solutions that can meet the evolving needs of the furniture industry.

Market Challenges:

-Concerns over formaldehyde emissions:

Formaldehyde is a volatile organic compound (VOC) that is commonly used in industrial wood adhesives. However, formaldehyde emissions from these adhesives can have adverse health effects, such as respiratory problems and cancer. This has led to growing concern over the use of formaldehyde-based adhesives and has prompted the development of alternative adhesives that emit lower levels of formaldehyde.

-Increasing competition from alternative materials:

Industrial wood adhesives face increasing competition from alternative materials such as plastics and composites. These materials offer several advantages over wood-based products, such as lower cost, higher durability, and better resistance to moisture and chemicals. This presents a challenge for industrial wood adhesive manufacturers to develop innovative adhesive solutions that can compete with these alternative materials.

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Segmentation Analysis:

The global Industrial Wood Adhesives Market can be segmented by Product Type, Technology, Substrate, End User

By Product Type:

- Urea-formaldehyde (UF) & Melamine urea- formaldehyde (MUF),
- Phenol-formaldehyde,
- Epoxy,
- Polyurethane,
- Polyvinyl acetate (PVA),
- Others

By Technology:

- Solvent-based,
- Water-based,
- Others

By Substrate:

- Solid Wood,
- Oriented Strand Boards,
- Plywood,
- Fiberboards,
- Others

By End User:

- Furniture,
- Flooring,
- Housing Components,
- Doors & Windows,
- Others

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Competitive Landscape:

The major companies in Industrial Wood Adhesives Market include

- Henkel AG & Co. KGaA,
- Sika AG,
- The 3M Company,
- Arkema,
- HB Fuller,
- Bostik SA,
- Ashland Inc.,
- Pidilite Industries Limited,
- Akzo Nobel NV, and Jubilant Industries Ltd

Regional Analysis:

Geographically, Asia-Pacific is the largest market for industrial wood adhesives, owing to the rapid growth of the construction and furniture industries in the region. The region is home to some of the fastest-growing economies in the world, such as China and India, which are driving the demand for wood-based products and industrial wood adhesives. Moreover, the region is also witnessing a significant shift towards sustainable and eco-friendly building materials, which is further boosting the demand for industrial wood adhesives.