The market for wood adhesives is expected to grow at a CAGR of about 4% globally during the forecast period. Increasing demand from growing construction activity is driving market growth. On the flip side, volatility in the price of raw materials is expected to hinder the growth of the market.
- Wood Adhesives market is expected to grow during the forecast period owing to the increasing construction activity.
- Asia-Pacific region dominated the market across the globe with the largest consumption from countries such as China, India, and Japan.
Key Market Trends
Growing Demand due to Increasing Construction Activities
- Adhesive, also known as glue, mucilage, or paste, is any non-metallic substance applied to one or both surfaces of two separate items that bind them together and resists their separation. Wood adhesives are specially made to bind wooden substances.
- Based on the resin type wood adhesives are segmented into natural and synthetic types. Natural glues are obtained either from plant or animal bodies which have low binding capacity compared to synthetic adhesives.
- The growing construction activity is increasing the application of wood creating scope for wood adhesives.
- In Japan, more than 58.9% of houses are built in wood making it the world’s largest country in the construction of wooden houses increasing the application of wood adhesives.
- In glue-laminated beams (Glulam), the beams are structurally engineered and bonded together with moisture resistant adhesives. These are used as straight beams, columns which include lintels, purlins, ridge beams, and floor beams, tied rafters, trusses in construction of buildings where the application of wood adhesives in very high.
- Growing construction activity in countries such as China, Japan, United Kingdom, United States, Russia and India are expected to drive the market for wood adhesives over the forecast period.
Asia-Pacific Region to Dominate the Market
- The Asia-Pacific region is expected to dominate the market for wood adhesives during the forecast period. With the growing construction sector in countries, such as China, India, and Japan, the utilization of wood adhesives is increasing in the region.
- The largest producers of wood adhesives are located in Asia-Pacific. Some of the leading companies in the production of wood adhesives 3M, Sika AG, Henkel AG & Co. KGaA, Pidilite Industries Ltd, and Jubilant Industries.
- The Chinese government rolled out massive construction plans, including making provisions for 250 million people in its new megacities, over the next ten years, creating scope for application of wood adhesives in its construction activity over the coming years
- Apart from furniture, wood adhesives are also used in flooring & decks, plywood, cabinet, particleboard, windows & doors, and other applications as well.
- The aforementioned factors, coupled with government support, are contributing to the increasing demand for wood adhesives and is expected to grow during the forecast period.
The global wood adhesives market is partially fragmented, with the major players accounting for a marginal share of the industry. Some of the major companies are 3M, Sika AG, Henkel AG & Co. KGaA, Pidilite Industries Ltd, and Jubilant Industries.
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