【海旗环球快讯】Global Wood Adhesives Market 2016-2026

The global wood adhesives market is projected to grow at a CAGR of 3.10% from 2016 to 2026, reaching $5.24 billion by 2026, according to a recent market report from MarketsandMarkets. Expansion of the furniture, woodworking, and construction industries, increasing urban population, rise in remodeling & renovation activities, and recovery of the global economy are significant factors driving the growth of the global wood adhesives market.

Furniture is the largest end-use application of wood adhesives. Expansion of the housing sector and growth of the furniture industry have driven the demand for wood adhesives. Rapid urbanization in the ASEAN countries is expected to increase the consumption of wood adhesives during the forecast period.

In terms of resin type, the global wood adhesives market has been segmented into natural resin adhesives and synthetic resin adhesives. Synthetic resin is expected to be the largest resin type segment in the global wood adhesives market, due to its superior properties, such as quick curing time and consumer-friendly usage. Synthetic resin wood adhesives are increasingly used in furniture, flooring, plywood, and cabinets.

North America, Europe, Asia-Pacific, South America, and the Middle East & Africa are key regions considered for analysis in the global wood adhesives market. The Asia-Pacific region leads the global wood adhesives market, in terms of value and volume. China and India are major markets for wood adhesives in the Asia-Pacific region. Increasing manufacturing activities, rising income levels, affordable interest rates, and changing lifestyles are factors propelling the rising demand for wood adhesives in the Asia-Pacific region.

However, environmental regulations in European countries act as a major restraint impacting the growth of the global wood adhesives market. Under the EU environmental law, there are over 500 directives, regulations, and decisions related to an eco-friendly and green environment. The principal environmental acts include Environmental Protection Agency Act 1992, Planning and Development Act 2000, and Protection of the Environment Act 2003, among others.

Key players in the global market include Henkel AG & Co. KGaA (Germany), 3M Company (U.S.), Bostik SA (France), H.B. Fuller (U.S.), Sika AG (Switzerland), Ashland Inc. (U.S.), AkzoNobel N.V. (Netherlands), and Pidilite Industries (India), among others.