Wood Adhesives Market Key Companies and SWOT Analysis by 2031

The wood adhesives market size is projected to reach US$ 6.79 billion by 2031 from US$ 4.57 billion in 2023. The market is expected to register a CAGR of 5.1% during 2023–2031. Development and adoption of eco-friendly wood adhesives are likely to bring new trends into the market during the forecast period.

Wood Adhesives Market Analysis

Formaldehyde, phenol-formaldehyde, melamine-formaldehyde, and polymeric methylene diisocyanate are used for the adhesion of wood-based panels, such as particleboard, medium/high-density fiberboard, oriented strand board, and plywood. The major aspect of consideration for the adhesive chemistry and raw materials market is the strict domestic and international regulations regarding the chemicals industry. These regulations are set to limit the VOC (volatile organic compound) values of chemicals. Therefore, the utilization, export, and import of high-VOC adhesives and polymers have been restricted in a few countries. The growing furniture industry, coupled with rising innovations in the wood adhesives market, is expected to favor the market growth.

Wood Adhesives Market Overview

Advancements in chemical engineering and production technologies have made synthetic adhesives more affordable, enabling manufacturers to save costs without compromising quality. Moreover, developing low-emission and environment-friendly synthetic adhesives addresses a few of the sustainability concerns traditionally associated with synthetic products. The demand for solvent-based wood adhesives is increasing owing to their exceptional performance characteristics and versatility in challenging applications. Solvent-based adhesives provide strong, durable bonds that can withstand extremely severe conditions such as high humidity, temperature fluctuations, and exposure to harsh chemicals, making them ideal for demanding industrial and structural applications.

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Wood Adhesives Market: Strategic Insights

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Wood Adhesives Market Drivers and Opportunities

Rising Application of Wood Adhesives in Home Renovation and Construction Activities

Wood adhesives have a wide range of applications that include plywood, furniture, doors, windows, and flooring. The key market players offer water-based, solvent-based, EVA, SBC, acrylic, vinyl, epoxy, and polyurethane, among other types of wood adhesives, for various applications in the woodwork industry. The rising application of wood adhesives in home renovations and other construction activities fuels the market growth.

Strategic Research Initiatives Associated with Wood Adhesives

Formaldehyde, phenol-formaldehyde, melamine-formaldehyde, and polymeric methylene diisocyanate are used for the production of wood-based panels, such as particleboard, medium/high-density fiberboard, oriented strand board, and plywood. Polyurethane, phenol-formaldehyde, phenol-resorcinol-formaldehyde, emulsion polymer isocyanate, polyvinyl acetate, and other formulation chemistries are used for solid wood lamination and construction beams and coating of boards with veneers or finish foils, among other applications. Key manufacturers operating in the wood adhesives market invest significantly in strategic development initiatives such as product innovation and research and development to enhance their market position and attract a wide customer base.

Wood Adhesives Market Report Segmentation Analysis

Key segments that contributed to the derivation of the wood adhesives market analysis are resin type, technology, and application.

• Based on resin type, the wood adhesives market is divided into natural and synthetic. The synthetic segment held a larger share of the market in 2023.
• In terms of technology, the market is segmented into solvent-based, water-based, and others. The water-based segment held a significant share of the market in 2023.
• Based on application, the wood adhesives market is categorized into furniture, plywood, flooring, doors and windows, and others. The furniture segment dominated the market in 2023.

Wood Adhesives Market Share Analysis by Geography

The geographic scope of the wood adhesives market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.

Europe dominated the market in 2023. In Europe, the demand for wood adhesives is increasing primarily due to the resurgence of the construction and real estate sectors. As urbanization continues and the need for residential, commercial, and infrastructure projects grows, there is a heightened demand for wood products. Wood adhesives are essential in producing engineered wood products such as plywood, particleboard, and laminated veneer lumber, which are extensively used in modern construction for their strength and versatility. The presence of key market players, including Henkel, Arkema Group, and H.B. Fuller Company, among others, contributes to the wood adhesives market growth.

Wood Adhesives Market Regional Insights

The regional trends and factors influencing the Wood Adhesives Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Wood Adhesives Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Wood Adhesives Market Report Scope

Wood Adhesives Market Players Density: Understanding Its Impact on Business Dynamics

The Wood Adhesives Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Wood Adhesives Market are:

1. Henkel AG and Co KGaA
2. 3M Co
3. Sika AG
4. Arkema SA
5. Dow Inc
6. H.B. Fuller Company

Disclaimer: The companies listed above are not ranked in any particular order.

Wood Adhesives Market News and Recent Developments

The wood adhesives market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the wood adhesives market are listed below:

• H.B. Fuller Company announced the acquisition of ND Industries Inc., one of the leading providers of specialty adhesives and fastener locking and sealing solutions serving customers in the automotive, electronics, aerospace, and other industries. (Source: H.B. Fuller Company, Press Release, May 2024)
• Sika AG announced the acquisition of the flooring adhesives business of DriTac, a US-based floor-covering adhesives company with an especially strong position in wood floor bonding. The acquisition will contribute to Sika AG’s increased presence among floor covering installers and distributors while accelerating Sika AG’s expansion in the interior finishing market in the US. (Source: Sika AG, Press Release, March 2021)

Wood Adhesives Market Report Coverage and Deliverables

The “Wood Adhesives Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:

• Wood adhesives market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
• Wood adhesives market trends as well as market dynamics such as drivers, restraints, and key opportunities
• Detailed Porter’s Five Forces analysis and SWOT analysis
• Wood adhesives market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the wood adhesives market
• Detailed company profiles