Wood Glue Market to Witness a CAGR of Around 4%
According to latest research by Fact.MR, wood glue market is set to witness high growth during 2021-2031. Demand for wood glue will witness huge growth in coming forecasted period (2021 – 2031). Globally growing engineered wood based panel production triggering the wood glue market.
What is Driving Demand for Wood Glue?
Infrastructure development in developing countries, due to the rapidly growing urbanization has escalated the construction industry. Continuous increase in disposable income has shown significant rise on consumer spending in home decor and luxury furniture products, which is one of the key factors driving the demand for wood glue.
Apart from this, increasing demand for eco-friendly products and green furniture, growing concerns among consumers about reduction of trees and global warming has boosted the demand for engineered wood-based panels. This is consequently leading to the growth of wood glue sales.
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Slowdown in End User Industries Likely to Affect Wood Glue Sales
Construction industry is one of the sectors badly impacted by Covid-19. Wood glue market being significantly dependent on construction industry, the demand has been severely impacted amid crisis. Manufacturers are facing issues in procurement of raw materials like chemicals from others countries due to the trade restrictions between countries, while companies are also facing issues in delivering their products to international clients. The shortage of raw material has forced companies to start looking for local opportunities for procuring the raw materials.
Asia Pacific Leads the Global Wood Glue Sales
Asia Pacific is the largest market for wood glue. Asia Pacific holds more than 50% share of global wood glue market. The demand in Asia Pacific is expected to grow at rapid pace in forecasted period (2021 – 2031), as number of activities will be increasing in end use industry.
Demand for wood glue in Asia Pacific is followed by construction and real estate industry. With the growing construction industry in countries like China, India, Indonesia, Vietnam and Japan, this will boost the demand for engineered panel, which in turn is expected to benefit wood glue market growth globally.
Chinese government on the other hand has planned to construct mega city two-hour drive south of Beijing by converting Xiongan farmland into Beijing commuter hub, which will provide residents to 250 million people over the next ten years, creating scope for application of wood adhesives in its construction activity over the coming years.
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Europe Demand Outlook for Wood Glue
Europe is the second biggest market for wood glue followed by North America. Europe has seen sudden increase in using of re-used wood and fabrics in order to reduce the energy output and optimize energy consumption. This is because re-used wood and fabric requires more amount of wood glue to stick due to which is becomes one of the prominent factors driving the wood glue consumption in Europe.
Who are the Key Manufacturers and Suppliers of Wood Glue?
Some of the leading manufacturers and suppliers of wood glue include
- HB Fuller
- Henkel AG & Co.
- Bostik SA
- ika AG
- Pidilite Industries Ltd
- Jubilant Industries
- BASF SE, Akzonobel N.V.
- Amar Décor
- Anabond Limited
- Ashland Inc.
- Asian Paints Limited
- Astra Chemtech Private Limited
- Berger Paints
- Bluecoat Pvt. Ltd.
- H.B. Fuller.
Other key manufacturers of wood glue include
- Hindustan Adhesives Limited
- Huntsman International LLC.
- Jubilant Industries
- Kansai Nerolac Paints Limited
- Royal Bond
- Royal DSM
- Sika AG
- The Dow Chemical Company
- Zeneses Industries Inc.
- CNMI Industrial Corporation
- Shenzhen Bridgetoworld Technology Co. Ltd.
- Shandong Dalini New Material Co. Ltd.
- Guangdong Oasis Chemical Co. Ltd.
- Ningbo Hopson Chemical Industry Co. Ltd.
- Jiangyin Desay Chemical Trade Co.ltd
- AICA Kogyo Co. Ltd.
- Hangzhou Joinleader New Materials Co. Ltd.
- Foshan Shunde Song Wen Chemical Co. Ltd.
- Anhui Sinograce Chemical Co. Ltd.
- Foshan Nanhai Bander Decoration Material Company.
An Adaptive Approach to Modern-day Research Needs
Wood Glue Market Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company
Based on Product Outlook, Wood Glue Market is segmented into:
- Urea-formaldehyde (UF)
- Melamine urea-formaldehyde (MUF)
- Phenol-formaldehyde (PF)
- Polyvinyl acetate (PVA)
Based on Application Outlook, Wood Glue Market is segmented into:
- Doors & windows
- Housing components
Based on Substrate Outlook, Wood Glue Market is segmented into:
- Solid wood
- Oriented strand board (OSB)
- Particleboard (PB)
- Medium-density fiberboard (MDF)
- High-density fiberboard (HDF)
Based on Resin Type, Wood Glue Market is segmented into:
Based on Technology Type, Wood Glue Market is segmented into:
- Other Technologies
Based on Region, Wood Glue Market is segmented into:
- North America
- US & Canada
- Latin America
- Brazil, Mexico, Others
- Western Europe
- Eastern Europe
- Asia Pacific
- Australia and New Zealand (ANZ)
- Greater China
- Rest of Asia Pacific
- Middle East and Africa
- GCC Countries
- Other Middle East
- North Africa
- South Africa
- Other Africa
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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