Global Wood Adhesives Market 2017-2021
About Wood Adhesives
Wood adhesives are used to bond two pieces of wood together. These adhesives are used in woodworking and are used in the production of many wooden articles, including furniture, flooring, plywood, doors, and windows. Wood adhesives are mainly based on urea-formaldehyde, melamine-urea-formaldehyde, phenol-formaldehyde, and isocyanate resins. These adhesives are regulated, and the usage in specified applications is monitored under strict guidelines as formaldehyde resins are harmful to the environment and individuals.
Technavio’s analysts forecast the global wood adhesives market to grow at a CAGR of 3.73% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global wood adhesives market for 2017-2021. To calculate the market size, the report considers the retail selling price as the average selling price for the product.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Wood Adhesives Market 2017-2021
Technavio recognizes the following companies as the key players in the global wood adhesives market: AkzoNobel, Ashland, H.B. Fuller, Henkel, and The Dow Chemical Company.
Other Prominent Vendors in the market are: 3M Company, Adhesives Research, Avery Dennison, BASF, Huntsman, Pidilite Industries, and Sika.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is kids furniture gaining popularity. The kids segment in the wood furniture industry provides notable growth prospects. It has been observed that parents in China are more concerned about the quality of life of their children. In addition, the increase in the real estate residential inventories in the major cities of the country has increased the demand for residential furniture, including kid’s furniture. The rise in demand for kid’s furniture is anticipated to boost the growth of the wood adhesives industry in the country.”
According to the report, one of the major drivers for this market is high demand in China. The demand for wood adhesives is increasing in China due to an increase in the production of wood composites. The country was the largest producer of wood adhesives, especially those containing urea-formaldehyde and melamine-urea-formaldehyde resins. These adhesives are used for manufacturing interior-grade wood composites. The demand for wood adhesives in the country is expected to increase further due to the increasing production of wood composites and economic growth.
Further, the report states that one of the major factors hindering the growth of this market is durability of products. Different species of wood are used for the construction of different structures. These pose a range of challenges relating to density, porosity, oils in the wood, flexibility, and elasticity. Therefore, the adhesives used in the furniture or any wooden construction must be compatible with parameters such as wood, use, climate, etc. The adhesives must also be compatible with different environmental conditions, such as temperature, humidity, rain, and salt spray exposure. Wood products have long service lives.
AkzoNobel, Ashland, H.B. Fuller, Henkel, The Dow Chemical Company, 3M Company, Adhesives Research, Avery Dennison, BASF, Huntsman, Pidilite Industries, and Sika.
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