Global Wood Adhesives and Binders Market was valued at USD 16.55 Bn in 2019 and is expected to reach at USD 24.85 Bn by 2027 at CAGR of 5.21% over forecast period 2020-2027.
Wood Adhesives and Binders Market Overview:
The position of the market for the anticipated time period is analyzed and evaluated in the Wood Adhesives and Binders Market research study. Regional studies, competitive markets, fundamental and secondary factors, and market dominance are given particular emphasis in this extensive body of research. The study looks at notable people, significant alliances, mergers, and acquisitions, along with current innovation and business strategy.
Market Scope:
We used primary and secondary research techniques to examine the Wood Adhesives and Binders Market from every angle. Our comprehension of current market dynamics, such as supply-demand imbalances, pricing trends, product preferences, and consumer behavior, has improved as a result. After that, the data is collated and evaluated using a variety of market projections and data validation techniques. Additionally, our internal data forecasting engine projects market growth through 2029.
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Segmentation:
By product, the Urea-formaldehyde wood adhesives product segment held a 32.43% market share in 2019 and is expected to keep its dominance over the forecast period. Urea-formaldehyde demand is growing owing to its high bond strength and comparatively low prices. These are widely utilized in structural and non-structural applications including flooring & plywood, furniture, windows & doors, and cabinets. Urea-formaldehyde is followed by Phenol-formaldehyde and Melamine-urea-formaldehyde (MUF). Phenol-formaldehyde is expected to grow at a 4. 45% of CAGR over the forecast period. Phenol-formaldehyde resins adhesives offer advantages that include a better performance at moist conditions, low surface energy and resistance from chemicals.
By geography, APAC led the Wood adhesives and Binders market with 41% of the market share in 2019 and is expected to keep its dominance over the forecast period. Robust growth in the construction industry in China, India, Japan and South Korea is propelling the wood adhesives and binders market over the forecast period. Stringent regulations associated with volatile chemical compounds (VOCs) is a restraining factor for the Asia Pacific wood adhesives and binders market. Now manufacturers are producing bio-based and low VOC adhesives which will create potential opportunities to the Asia Pacific wood adhesives and binders market. APAC is followed by North America and Europe. North America is expected to hold 27% of the market share over the forecast period. Increasing interior designing activities in the U.S. and Canada due to lavish consumer lifestyles will drive market growth in this region.
Key Players:
Market leaders are identified using primary and secondary research, and market revenue is estimated using primary and secondary research. As part of the core research, extensive interviews with significant thought leaders and industry experts, including CEOs, marketing experts, and seasoned front-line workers, were undertaken. In-depth interviews with well-known thought leaders and industry experts, such as CEOs, seasoned front-line employees, and marketing specialists, made up primary research, while an examination of the annual and financial reports of the major manufacturers made up secondary research. In order to compare secondary data to historical data, percentage splits, market shares, growth rates, and global market breakdowns are computed using secondary data. The following players are those who are featured in this study:
• 3M Company
• Ashland Inc.
• H.B Fuller Company
• Henkel AG & Co
• KGaA
• BASF SE
• Huntsman Corporation
• Avery Dennison Corporation
• Dow Chemical Company
• Adhesives Research Inc.
• Bostik SA
Regional Analysis:
Using both qualitative and numerical data, the study examines the local market in depth. It provides an overview and forecast of the global Wood Adhesives and Binders market segment by segment. Additionally, it provides market size and forecast projections for five important regions from 2022 to 2029 , including North America, Europe, Asia-Pacific, the Middle East and Africa, and South America. The Wood Adhesives and Binders market is further segmented into regions and sectors for each area. Numerous countries are examined and expected in the research, along with current patterns and future developments in the industry.
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COVID-19 Impact Analysis on Wood Adhesives and Binders Market:
The Global Wood Adhesives and Binders Market Development Strategy post-COVID-19, which encompasses and analyses the potential of the global Wood Adhesives and Binders market and provides statistical data on market dynamics, growth factors, significant challenges, PORTER analysis, and market entry strategy analysis, opportunities, and forecasts, was thoroughly researched and analysed. The main goal of the study is to provide industrial enterprises with a strategic analysis of the impact of COVID-19. This analysis simultaneously examined the markets of significant nations and emphasised their market potential.
Key Questions Answered in the Wood Adhesives and Binders Market Report are:
- Which regions, product categories, and end users represent the global Wood Adhesives and Binders sector’s most potential high-growth opportunities?
- Which market sectors will grow the quickest, and why?
- What sectors will grow the quickest, and why?
- What are the main factors affecting the dynamics of the Wood Adhesives and Binders market? What are the main factors influencing and impeding the Wood Adhesives and Binders market?
- What are the business risks and hazards in the Wood Adhesives and Binders market?
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