Wood Adhesives Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 4.00 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Wood Adhesives Market Analysis
The wood adhesives market is expected to register a CAGR of more than 4% during the forecast period. COVID-19 negatively impacted the market in 2020. However, the market is now estimated to reach pre-pandemic levels and is expected to grow steadily.
- Due to the increasing construction activity, the wood adhesives market is expected to grow during the forecast period.
- On the other hand, volatility in the price of raw materials is expected to hinder the market during the forecast period.
- Developing eco-friendly adhesives is expected to provide an opportunity for the market in the coming years.
- Asia-Pacific dominated the global market with the most significant consumption from countries such as China, India, and Japan.
Wood Adhesives Market Trends
This section covers the major market trends shaping the Wood Adhesives Market according to our research experts:
Growing Demand due to Increasing Construction Activities
- Adhesive, also known as glue, mucilage, or paste, is any non-metallic substance applied to one or both surfaces of two items that bind them together and resists their separation. Wood adhesives are specially made to bind wooden substances.
- Wood adhesives are produced using natural and synthetic sources. Natural glues are obtained from plant or animal bodies with low binding capacity compared to synthetic adhesives.
- The growing construction activity is increasing the wood application, creating the scope for wood adhesives.
- China's growth is fueled mainly by rapid residential and commercial building expansion. According to the world bank, China is encouraging and enduring a continuous urbanization process, with a projected rate of 70% by 2030.
- Also, according to the National Bureau of Statistics of China, the country's construction output peaked in 2021 at about USD 4.3 trillion. As a result, these factors tend to increase the wood adhesive demand.
- Furthermore, according to a report released by the Indian Real Estate Industry, India is also likely to invest around USD 1.3 trillion in housing over the next seven years. It is expected to see the construction of 60 million new homes. Affordable housing availability will likely rise by around 70% in 2024.
- Thus, growing global construction activity is expected to drive the market for wood adhesives over the forecast period.
Asia-Pacific Region to Dominate the Market
- The Asia-Pacific region is expected to dominate the market for wood adhesives during the forecast period. With the growing construction sector in countries such as China, India, and Japan, the utilization of wood adhesives is increasing in the region.
- The largest producers of wood adhesives are present in Asia-Pacific. Some leading companies in adhesive wood production are 3M, Sika AG, Henkel AG & Co. KGaA, Pidilite Industries Ltd, and Jubilant Industries.
- Apart from furniture, wood adhesives are also used in flooring & decks, plywood, cabinet, particleboard, windows & doors, and other applications. Thus, the market is expected to grow significantly with growing housing construction.
- In India, the Pradhan Mantri Awas Yojana-Urban (PMAY-U) sanctioned 114.06 lakh houses till November 2021. Of them, 89.36 lakh houses are approved for building, with 52.55 lakhs completed by November 2021.
- Furthermore, according to the National Bureau of Statistics of China, in June 2022, the retail sales of wood furniture in China amounted to USD 2.39 billion, which shows an increase of 40% in the period (March 2022 - June 2022).
- Additionally, urbanization, rising real estate development, robust GDP growth, and economic stability are some of the other key factors contributing to the wood furniture growth in the region, thus increasing the wood adhesive demand.
- The factors above, coupled with government support, are contributing to the increasing demand for wood adhesives and are expected to grow during the forecast period.
Wood Adhesives Industry Overview
The global wood adhesives market is partially fragmented in nature. Some of the major players in the market include 3M, Sika AG, Henkel AG & Co. KGaA, Pidilite Industries Ltd, and Jubilant Industries Ltd, among others (in no particular order).
Wood Adhesives Market Leaders
3M
Sika AG
Henkel AG & Co. KGaA
Pidilite Industries Ltd
Jubilant Industries Ltd
*Disclaimer: Major Players sorted in no particular order
Wood Adhesives Market News
- January 2023: Sika launched MB EZ Rapid, a single-component, rapid-drying moisture barrier, adhesive substrate consolidator for all residential and commercial floor covering installations. Sika MB EZ Rapid suits plywood, concrete, gypsum, and old cutback adhesive.
- July 2022: Henkel Adhesive Technologies expands its timber construction solutions expertise by investing in 3RT in Melbourne, Australia. Henkel intends to use the investment to expand its engineered wood business and to accelerate the implementation of sustainable future-oriented technology.
Wood Adhesives Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Drivers
4.1.1 Increasing Demand from the Growing Construction Activity
4.1.2 Other Drivers
4.2 Restraints
4.2.1 Volatility in the Price of Raw Materials
4.2.2 Other Restraints
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5. MARKET SEGMENTATION (Market Size in Value)
5.1 Resin Type
5.1.1 Natural
5.1.2 Synthetic
5.2 Technology
5.2.1 Solvent-based
5.2.2 Water-based
5.2.3 Other Technologies
5.3 Application
5.3.1 Furniture
5.3.2 Plywood
5.3.3 Cabinets
5.3.4 Doors and Windows
5.3.5 Other Applications
5.4 Geography
5.4.1 Asia-Pacific
5.4.1.1 China
5.4.1.2 India
5.4.1.3 Japan
5.4.1.4 South Korea
5.4.1.5 Rest of Asia-Pacific
5.4.2 North America
5.4.2.1 United States
5.4.2.2 Canada
5.4.2.3 Mexico
5.4.3 Europe
5.4.3.1 Germany
5.4.3.2 United Kingdom
5.4.3.3 France
5.4.3.4 Italy
5.4.3.5 Rest of Europe
5.4.4 South America
5.4.4.1 Brazil
5.4.4.2 Argentina
5.4.4.3 Rest of South America
5.4.5 Middle East & Africa
5.4.5.1 Saudi Arabia
5.4.5.2 South Africa
5.4.5.3 Rest of Middle East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share(%)**/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 3M
6.4.2 Aica Kogyo Co.Ltd.
6.4.3 Akzo Nobel N.V.
6.4.4 Ashland
6.4.5 Bostik (Arkema Group)
6.4.6 Dow
6.4.7 H.B. Fuller Company
6.4.8 Henkel AG & Co. KGaA
6.4.9 Jubilant Industries Ltd
6.4.10 Pidilite Industries Ltd
6.4.11 Sika AG
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Development of Eco-friendly Adhesives
Wood Adhesives Industry Segmentation
Wood adhesives are polymeric compounds capable of reacting with the surface of the wood in such a way that stresses are passed between bonded elements. Wood adhesives manufacture windows, doors, furniture, wooden flooring, and others. The wood adhesives market is segmented by resin type, technology, application, and geography. By resin type, the market is segmented into natural and synthetic. By technology, the market is segmented into solvent-based, water-based, and other technologies. By application, the market is segmented into furniture, plywood, cabinets, doors, windows, and other applications. The report also covers the market size and forecasts in 15 countries across major regions. Market sizing and forecasts are based on each segment's revenue (USD million).
| Resin Type | |
| Natural | |
| Synthetic |
| Technology | |
| Solvent-based | |
| Water-based | |
| Other Technologies |
| Application | |
| Furniture | |
| Plywood | |
| Cabinets | |
| Doors and Windows | |
| Other Applications |
| Geography | |||||||
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Wood Adhesives Market Research FAQs
What is the current Wood Adhesives Market size?
The Wood Adhesives Market is projected to register a CAGR of greater than 4% during the forecast period (2024-2029)
Who are the key players in Wood Adhesives Market?
3M, Sika AG , Henkel AG & Co. KGaA, Pidilite Industries Ltd and Jubilant Industries Ltd are the major companies operating in the Wood Adhesives Market.
Which is the fastest growing region in Wood Adhesives Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Wood Adhesives Market?
In 2024, the Asia-Pacific accounts for the largest market share in Wood Adhesives Market.
What years does this Wood Adhesives Market cover?
The report covers the Wood Adhesives Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Wood Adhesives Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Wood Adhesives Industry Report
Statistics for the 2024 Wood Adhesives market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Wood Adhesives analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
