The global wood adhesives market is forecast to grow at a CAGR of XX% during the forecast period 2019 to 2024. Wood adhesives are specially designed polymers for the joining of timber elements through application to the timber surfaces and binding them through chemical reaction or physical interlocking. The choice of adhesives for woodworking has been animal-based glues, especially hide glues which were manufactured from the rendering of animal skins. Moreover, they are used in specialist applications such as the manufacture of musical instruments and the repair of antique furniture. Wood adhesives are commercially available for protecting the furniture and other wooden products from damage.
Major trends and key driving factors and restraints of the wood adhesives market: The global wood adhesives market is primarily driven by factors such as, innovations in furniture & dĂŠcor, rising urban population, increase disposable income and increasing consumer spending on luxury furniture. One of the major trends which will influenced the wood adhesives market during the forecast period is the significant shift of consumers towards bio-based wood adhesives owing to the characteristics like low toxicity, biodegradability, and lower prices. However, strict environmental regulation imposed by the government are is projected to hinder the growth of the market.
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Segmentation analysis: The synthetic resin adhesive dominated the global wood adhesive market and accounted for highest market share in terms of volume. Moreover, natural resin adhesives segment is expected to grow at a faster pace during the forecast period owing to increasing need of green products, high environmental standards and price volatility of petrochemical compound. The solvent based segment dominates the market: Owing to its characteristics like bonding strength, resistance to chemicals and temperature, and durability. Moreover, the demand for solvent less segment is expected to grow during the forecast period. This growth is mainly attributed to Increasing awareness related to health and environmental issues intensified the demand for water borne and solvent free adhesive technologies. The furniture segment is projected to grow at high pace, due to wide expansion of furniture industries and rising construction spending in developed and developing economies.
Asia Pacific is expected to be the fastest-growing region during the prediction period. Growth in furniture manufacturing sector, urbanization and increase in construction activities are the prominent factors driving the Asian wood adhesives market. Additionally, rising demand for wood adhesive from China and India further boosts the wood adhesive market.
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The leading companies in Wood Adhesives Market: Henkel AG & Co. KGaA (Germany), H.B. Fuller (U.S.), 3M Company (U.S.), Ashland Inc. (U.S.), Sika A.G. (Switzerland), The Dow Chemical Company (U.S.), AkzoNobel N.V. (Netherlands), Bostik SA (France), and Pidilite Industries (India), etc. research and development, new product development and technological advancement are the key growth strategies adopted by major players to reinforce their positions in the international market and expand their geographic presence. Global wood adhesives market, By Resin Type
Natural Resin Adhesives
Animal based
Plant based
Synthetic resin adhesives.
Thermosetting resin adhesives
Thermoplastic resin adhesives
Others.
Global wood adhesives market, By Technology
Solvent based
Water based
Solvent less
Others.
Global wood adhesives market, By Application
Furniture
Plywood
Particle board
Flooring and decks
Cabinets
Windows and doors
Others
Marine
Tile board
Shutters
Sidings
Ceilings
Wooden toys.
Global wood adhesives market, By Geography
North America
Europe
Asia Pacific
Middle East & Africa.
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