Asia Pacific Industrial Wood Adhesives Market Overview and Growth by 2027
Historic Data: 2018-2019 | Base Year: 2020 | Forecast Period: 2021-2027Asia Pacific Industrial Wood Adhesives Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Resin Type (Natural and Synthetic), and Technology (Solvent-Based, Water-Based, Solventless, and Others)
- Report Date : Jun 2021
- Report Code : TIPRE00023053
- Category : Chemicals and Materials
- Status : Published
- Available Report Formats :
- No. of Pages : 112
The Asia Pacific industrial wood adhesives market is expected to grow from US$ 2,108.04 million in 2020 to US$ 3,076.58 million by 2027; it is estimated to grow at a CAGR of 5.5% from 2020 to 2027.
The APAC region comprises developed and developing countries such as Australia, China, India, Japan, South Korea, and other Asian countries. In Asia-Pacific region activities like woodworking, new construction, and housing projects, presence of key manufacturers, rise in export activities, and wooden furniture manufacturing businesses are increasing. There has been a rapid growth in the economies of Asia –Pacific countries, which increases the purchasing power of the respective populations. Increasing purchasing power leads to a rapid growth in furniture and building & construction industries. The growth of construction industry, especially in developing nations of Asia-Pacific, increasing the demand for wood-based products. The flourishing construction industry in Asia Pacific is boosting the demand for wood products every year. Asia-Pacific region dominated the market across the world in terms of consumption of wood-based products.
In case of COVID-19, in Asia Pacific, especially India, witnessed an unprecedented rise in number of coronavirus cases, which led to the discontinuation of industrial wood adhesives manufacturing activities. Downfall of other chemical and materials manufacturing sectors has subsequently impacted the demand for industrial wood adhesives during the early months of 2020. Moreover, decline in the overall construction and building materials manufacturing activities has led to discontinuation of industrial wood adhesives manufacturing projects, thereby reducing the demand for industrial wood adhesives. Similar trend was witnessed in other Asia Pacific countries, i.e., Japan, China and Australia. However, the countries are likely to overcome thus drop in demand with the economic activities regaining their pace, especially in the beginning of the 2021.
With the new advancements and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the Asia Pacific industrial wood adhesives market. Wood adhesives offer various advantages, and hence it is used in more than 70% of wood products across the world. Wood adhesives have a significant role in modern industrial wood construction. The wood adhesive is used for various wood assembly applications such as dowel attachment, edge gluing, finger joining, tongue and groove joints, and miter gluing. Adhesives help to save wood and can be utilized to build light and strong structures. It helps to moderate the expansion and contraction due to the inherent moisture retention of wood. Manufacturers are striving to produce wood adhesives that have greater resistance to moisture content. Compared to conventional methods, wood adhesives offer other benefits, including improved adhesion, compatibility of the use with several substrates and higher strength, faster drying and setting time, aesthetic appeal compared to use of metal fasteners, and other methods of bonding. Wood adhesives are frequently used on commercial doors and windows for waterproofing and to enhance the overall texture and appeal. Furthermore, the wood industry is evolving continuously, and thus, modern industrial wood adhesives have been tailored to meet the wood industry's needs. Thus, owing to the aforementioned advantages, wood adhesives are highly used for industrial applications, and thereby the market is witnessing tremendous growth in Asia Pacific.Asia Pacific Industrial Wood Adhesives Report Scope
| Report Attribute | Details |
|---|---|
| Market size in 2020 | US$ 2,108.04 Million |
| Market Size by 2027 | US$ 3,076.58 Million |
| Global CAGR (2020 - 2027) | 5.5% |
| Historical Data | 2018-2019 |
| Forecast period | 2021-2027 |
| Segments Covered |
By Resin Type
|
| Regions and Countries Covered | Asia-Pacific
|
| Market leaders and key company profiles |
Market Research & Consulting
- Historical Analysis (2 Years), Base Year, Forecast (7 Years) with CAGR
- PEST and SWOT Analysis
- Market Size Value / Volume - Global, Regional, Country
- Industry and Competitive Landscape
- Excel Dataset
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