The industrial wood adhesives market was valued at US$ 5,133.8 million in 2019 and is projected to reach US$ 7,656.2 million by 2027; it is expected to grow at a CAGR of 5.2% from 2020 to 2027
Wood adhesive is used to manufacture building materials such as plywood and other laminated veneer products, oriented strandboard, particleboard, laminated beams and timbers, fiberboard, edge- and end jointed products, architectural doors, windows and frames, furniture, floor coverings, ceiling, and wall tiles. The rapidly expanding construction industry is increasing the application of wood, thereby creating scope for industrial wood adhesives.
In 2019, Asia Pacific contributed to the largest share in the global industrial wood adhesives market. Rising demand for wood-based products and increasing consumption of wooden furniture in Asia-Pacific countries are contributing to the growth of the market. Asia Pacific has a substantial share of wood adhesives market in terms of value and volume. Moreover, the region comprises the largest number of wood adhesives producers. A few of the leading companies producing wood adhesives are Henkel AG & Co, Pidilite Industries Ltd, Jubilant Industries Ltd, and Sika AG. Pidilite Industries Ltd is consumer centric and always focuses on quality and innovation. Sika AG is dedicated to maintain the highest quality standards with its products and services. All these companies offer a range of ready-to-use wood adhesives, which are suitable for many wood joinery purposes. They provide products that are very popular and effective in the woodworking industry.
The COVID-19 outbreak pandemic has adversely affected various industries across the world due to lockdowns, travel bans, and business shutdowns. The manufacturing industry is one of the major industries that are suffering serious disruptions such as supply chain breaks, technology events cancellations, and office shutdowns. The lockdown of various plants and factories in leading regions such as North America and South America, Europe, and Asia Pacific is restricting the supply chains and negatively impacting the manufacturing activities, delivery schedules, and various goods sales. In addition, travel bans imposed by countries in North America hindered the business collaborations and partnerships opportunities. All these factors are affecting the construction and manufacturing industries in a negative manner, which is restraining the growth of the industrial wood adhesives market.
Geographic Overview of Industrial Wood Adhesives Market
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Market Insights
Rising Construction and Infrastructural Activities
The construction industry across the world is witnessing a boost in the number of new residential and commercial building constructions. There is a substantial growth in the construction activities across North America. As per the Associated General Contractors of America, Inc., the construction spending of public and private sectors in the US is registered US$ 1.329 trillion during 2018. The rapid development of metropolitan cities is augmenting the demand for commercial construction projects. Stores, offices, hotels, resorts, schools, gymnasiums, libraries, museums, hospitals, and clinics are considered as commercial buildings. The construction and design of commercial building directly impact the ambience of that place and productivity of workers. It is considered that attractive and pleasant working places help increase the productivity of the employees. Hence, office spaces are highly using wooden materials to impart an aesthetic appearance. Moreover, the expansion of the tourism sector across the globe is contributing to commercial construction activities, especially in Asia-Pacific. Domestic and international travelers spend most of the amount on food services and lodging. Therefore, the hotels and resorts construction is witnessing tremendous growth across the world. To gain customer attraction and provide aesthetic beauty, hotels are constructed with wooden floorings, windows, doors, and furniture. Also, tourists are highly attracted to hotels and resorts constructed entirely with wood. Besides aesthetic beauty, wood has various qualities such as environmental friendliness and safety for human health. Wood has low thermal conductivity; hence even in a cold climate, it will always be warm inside a wooden building. Thus, the rising construction activities, and increasing utilization of wooden products in the buildings are propelling the growth of the global industrial wood adhesives market.
Resin Type Insights
In terms of resin type, the global industrial wood adhesives market is bifurcated into natural and synthetic. Synthetic industrial wood adhesives consist of prepolymers or polymers that are synthetized from the petrochemically derived raw materials. These adhesives must be applied in the liquid form to get disperse over the wet surface of the wood. However, the prepolymers can be applied directly if they are available in the liquid form or they can be applied as water solutions. The synthetic polymers when applied as adhesives, are melted, dissolved, or emulsified in a solvent prior to the technology. After being applied, the polymer-based industrial wood adhesives are set by solidification of the melted polymer with the cooling or removal of the solvent through evaporation or adsorption. The natural adhesives are being replaced by synthetic thermosetting resins for the industrial wood panels such as urea formaldehyde (UF) resins, phenol-formaldehyde (PF) resins, and melamine-formaldehyde (MF) resins with better strength and water resistance. High quality and durable panels can be made using such adhesives. Thermoplastic resins are the another sets of synthetic polymers that are used as adhesives. The major industrial wood adhesive in this category is the polyvinyl acetate that is employed for bonding wood panels for the exterior applications. It is used to produce softwood plywood, oriented waferboard, and strandboard. Another synthetic industrial wood resin is the resole resin. When resole resin is used as wood adhesive, it is generally present in aqueous solution that is cured easily with pressure and heat. Even though the synthetic industrial wood adhesives allow economical and efficient utilization of the diverse and ever-changing wood resources, the development of the synthetic resins is being restricted by the non-renewability and the toxicity of the petroleum-based products.
Technology Insights
Based on technology, the global industrial wood adhesives market is segmented into solvent-based, water-based, solventless, and others. The solvent-based segment led the market with the largest share in 2019. The solvent-based adhesives are produced by blending the adhesive material with a suitable solvent for the creation of adhesive polymer solution. Industrial woods have high amount of resistance that makes it easier to stick them. A solvent-based adhesive is highly suitable to be used for wood due to its strong adhesive qualities. The industrial wood adhesives, produced by the employment of this technology, contain an adhesive inside a spreadable or more malleable substance, which makes it easier to apply. The solvent-based adhesive covers places where rigid glues would not be able to cover and be effective. The polymer solution used in this technology for the making of adhesives is able to dry rapidly as the solvent evaporates on the addition of solvent-based adhesives. After the evaporation of the solvent, the adhesive turns stronger and reaches its maximum effectiveness. However, the solvents are generally of petrochemical origin, and thus have a high price volatility owing to the regular fluctuations in the prices of crude oil.
Industrial Wood Adhesives Market, by Technology – 2019 and 2028
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Industrial Wood Adhesives Market: Strategic Insights
Market Size Value in US$ 5,133.8 Million in 2019 Market Size Value by US$ 7,656.2 Million by 2027 Growth rate CAGR of 5.2% from 2020-2027 Forecast Period 2020-2027 Base Year 2020
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Industrial Wood Adhesives Market: Strategic Insights
| Market Size Value in | US$ 5,133.8 Million in 2019 |
| Market Size Value by | US$ 7,656.2 Million by 2027 |
| Growth rate | CAGR of 5.2% from 2020-2027 |
| Forecast Period | 2020-2027 |
| Base Year | 2020 |
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A few key players operating in the global industrial wood adhesives market are H.B.Fuller Company; Henkel AG & Company; KGAA; Ashland; Arkema Group; Sika AG; Pidilite Industries Ltd; Jubilant Industries Ltd; Dow, Inc.; 3M; and Akzo Nobel N.V. Major market players adopt strategies such as mergers and acquisitions, and product launches to increase their geographical presence and consumer base globally.
Report Spotlights
- Progressive industry trends in the global industrial wood adhesives market to help players develop effective long-term strategies
- Business growth strategies adopted by developed and developing markets
- Quantitative analysis of the market from 2017 to 2028
- Estimation of the demand for industrial wood adhesives across various industries
- PEST analysis to illustrate the efficacy of buyers and suppliers operating in the industry to predict market growth
- Recent developments to understand the competitive market scenario and the demand for industrial wood adhesives
- Market trends and outlook coupled with factors driving and restraining the growth of the industrial wood adhesives market
- Decision-making process by understanding strategies that underpin commercial interest with regard to global industrial wood adhesives market growth
- industrial wood adhesives market size at various nodes of market
- Detailed overview and segmentation of the global industrial wood adhesives market as well as its dynamics in the industry
- Industrial wood adhesives market size in various regions with promising growth opportunities
Industrial Wood Adhesives Market, by Resin Type
- Natural
- Synthetic
Industrial Wood Adhesives Market, by Technology
- Solvent-Based
- Water-Based
- Solventless
- Others
Company Profiles
- H.B.Fuller Company
- Henkel AG & Company KGAA
- Ashland
- Arkema Group
- Sika AG
- Pidilite Industries Ltd
- Jubilant Industries Ltd
- Dow, Inc.
- 3M
- Akzo Nobel N.V
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Industrial Wood Adhesives Market Forecast to 2027 COVID-19 Impact and Global Analysis by Resin Type and Technology
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
The major players operating in the global Industrial Wood Adhesives market are H.B.Fuller Company, Henkel AG & Company, KGAA, Ashland, Arkema Group, Sika AG, Pidilite Industries Ltd, Jubilant Industries Ltd, Dow, Inc., 3M, and Akzo Nobel N.V are among many others.
In 2019, Asia Pacific contributed to the largest share in the global Industrial Wood Adhesives market. The demand for wood-based products from Asia-Pacific countries is contributing to the growth of the wood adhesives market. Increasing consumption of wooden furniture is also one of the key factors impelling the growth of wood adhesive market in Asia- Pacific region. Asia Pacific region has a substantial market share of wood Adhesives market in terms of value and volume. The largest producers of wood adhesives are located in Asia-Pacific. Some of the leading companies in the production of wood adhesives are Henkel AG & Co, Pidilite Industries Ltd, Jubilant Industries Ltd, Sika AG. And many more. Pidilite Industries Ltd is consumer centric and always focuses on quality and innovation. Sika AG is dedicated to maintain highest quality standards with its product and services. All these manufacturers offers a range of ready to use wood adhesives, which are suitable for most wood joinery purposes. They provide products that are very popular and effective in the woodworking industry.
The synthetic segment captured the largest share in the global Industrial Wood Adhesives market in 2019 and it is estimated to maintain its dominance during the forecast period. Synthetic industrial wood adhesives consist of prepolymers or polymers that are synthetized from the petrochemically derived raw materials. These adhesives must be applied in the liquid form in order to get disperse over the wet surface of the wood. However, the prepolymers can be applied directly if they are available in the liquid form or they can be applied as water solutions. The synthetic polymers when applied as adhesives, are melted, dissolved or emulsified in a solvent prior to the Technology.
The List of companies - Global Industrial Wood Adhesives Market
- H.B.Fuller Company
- Henkel AG & Company KGAA
- Ashland
- Arkema Group
- Sika AG
- Pidilite Industries Ltd
- Jubilant Industries Ltd
- Dow, Inc.
- 3M
- Akzo Nobel N.V
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- Data Collection and Secondary Research:
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- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
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Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
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Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
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- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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