Wood Adhesives Market Synopsis

Wood Adhesives Market Size Was Valued at USD 7.45 Billion in 2023, and is Projected to Reach USD 15.78 Billion by 2032, Growing at a CAGR of 8.7% From 2024-2032.

Wood adhesives are specialized adhesives used in industries like construction, furniture manufacturing, woodworking, and carpentry to bond wood components, laminates, veneers, and composite materials. They come in various types like water-based, solvent-based, and hot melt adhesives, each suited for different applications and performance requirements. These adhesives enhance the structural integrity and longevity of wood assemblies, making them crucial for the fabrication and assembly of wood products.

• Wood adhesives are widely utilized due to their array of benefits, driving their extensive adoption across industries. They provide robust and enduring bonds, bolstering the structural integrity of wood assemblies and ensuring prolonged functionality. Moreover, their versatility allows for bonding diverse wood types, composites, laminates, and veneers, accommodating various manufacturing requirements efficiently and economically.
• In terms of market trends, there's a noticeable surge in demand for eco-friendly and sustainable adhesive solutions. This shift propels the development of water-based and solvent-free adhesives, renowned for their lower VOC emissions and enhanced safety for both workers and the environment. Additionally, there's a growing preference for high-performance adhesives offering exceptional resistance to heat and moisture, particularly in applications facing challenging environmental conditions.
• The demand for wood adhesives is intricately linked to the expansion of key industries like construction, furniture manufacturing, and woodworking. As these sectors witness global growth, the necessity for dependable bonding solutions for wood products escalates correspondingly. Furthermore, ongoing advancements in adhesive technology, including the emergence of hybrid adhesives and bio-based resins, drive market expansion by offering enhanced performance and eco-friendliness. Overall, the wood adhesives market experiences continuous growth, fueled by the quest for sturdy, adaptable, and environmentally sustainable bonding solutions across diverse industrial realms.

Wood Adhesives Market Trend Analysis

Growing Furniture Production

• The furniture production sector is driving the demand for wood adhesives due to the increasing global population and urbanization. Wood adhesives are crucial in furniture manufacturing processes, serving as the primary bonding agent for joining wood components, laminates, and veneers. The furniture industry's evolution towards innovative designs, customized solutions, and sustainable practices further amplifies the need for high-performance wood adhesives.
• Manufacturers rely on adhesives to ensure structural integrity, durability, and aesthetic appeal in their products. The emergence of e-commerce platforms and changing consumer preferences further drive demand for diverse furniture offerings, including ready-to-assemble (RTA) furniture and bespoke designs. Thus, the wood adhesives market is driven by the growing furniture production sector. The furniture industry is experiencing a surge in production due to factors like rising disposable incomes, urbanization, and changing lifestyles. Consumers are seeking modern, minimalist, and sustainable designs, necessitating versatile wood adhesives for bonding materials and ensuring durability.
• The industry's focus on sustainability and eco-friendly practices encourages the use of low VOC emissions and environmentally friendly formulations. Manufacturers maintain high standards of performance and quality, ensuring high performance and quality. This growth not only drives demand for wood adhesives but also drives innovation in adhesive technology to meet market demands for durable, aesthetically pleasing, and environmentally sustainable furniture products.

Demand for low-VOC adhesives

• The wood adhesives market is experiencing a surge in demand due to growing environmental concerns and stringent regulations. Low-VOC adhesives, which contain fewer harmful chemicals, are being sought by manufacturers of wood products like furniture, flooring, and cabinetry. These adhesives not only reduce harmful emissions but also contribute to improved workplace safety by minimizing exposure to harmful chemicals. They are also linked to better indoor air quality and a healthier living environment, attracting more adoption in residential and commercial applications. The increasing demand for low-VOC adhesives presents a significant opportunity for innovation and growth in the wood adhesives market.
• Low-VOC adhesives are gaining popularity due to their environmental benefits and market differentiation. They can appeal to eco-conscious consumers and businesses, and as sustainability becomes a key factor in purchasing decisions, wood product manufacturers can benefit from using these adhesives. This presents an opportunity for manufacturers to innovate and develop new formulations that meet performance and environmental standards, driving market growth and establishing a strong foothold in the sustainable adhesive solution landscape.

Wood Adhesives Market Segment Analysis:

Wood Adhesives Market Segmented on the basis of Type, Resin Type, Application, and End-Use Industry.

By Type, Water-based adhesives segment is expected to dominate the market during the forecast period

• Water-based adhesives, composed of water, polymers, and additives, are eco-friendly, suitable for porous or non-porous substrates, and safe for use in the work environment due to their evaporation process. Adhesives are mixtures used to bond surfaces, typically polymer-based and made from natural or synthetic sources. They are formulated for specific applications and industries.
• Water-based adhesives are supplied as pre-mixed solutions or dry powders, which must be mixed with water to achieve their adhesive properties. These properties are obtained when water is lost from the glue line or absorbed by the substrate. It is crucial to use at least one permeable substrate when applying water-based adhesives.
• Water-soluble polymers in water-based adhesives make bonds more susceptible to moisture and water, but some types, like plant and casein glues, have an insoluble base material. Although this improves resistance, water-based solution adhesives are still perishable and have a shorter storage life. The water-based adhesives segment is poised to dominate the wood adhesives market for several compelling reasons

By Application, Furniture segment is expected to dominate the market during the forecast period

• Wood adhesives are crucial in furniture for efficient use of wood. They are commonly used in various wood products like plywood, MDF, particleboard, OSB, structural frames, and wooden architectural doors, windows, and frames. Adhesives are essential for retaining structure and increasing the strength and stiffness of composite sheets. They are also used in non-structural applications like car upholstery and accessories. The adhesion of the glue depends on the wood-adhesive bonding chain.
• The furniture segment is expected to dominate the wood adhesives market due to its significant consumption in bonding wood components, laminates, veneers, and assemblies. With rising disposable incomes and urbanization, the demand for furniture products is expected to surge. Furniture makers are prioritizing quality, durability, and design versatility, relying heavily on wood adhesives' performance. High-performance adhesives enable manufacturers to meet stringent quality standards and customer expectations. The furniture industry's focus on eco-friendly practices drives demand for eco-friendly wood adhesives with low VOC emissions and minimal environmental impact. This aligns with consumer preferences for eco-conscious products, further boosting the adoption of wood adhesives in the furniture segment.

Wood Adhesives Market Regional Insights:

Asia Pacific is Expected to Dominate the Market Over the Forecast period

• The Asia Pacific region is experiencing rapid urbanization and construction activity, with countries like China, India, and Southeast Asia leading to increased demand for wood adhesive in furniture manufacturing, building construction, and interior decoration. The region's furniture manufacturing countries, including China, Vietnam, and Malaysia, rely on wood adhesive for bonding wood components.
• Governments in the region are investing heavily in infrastructure development projects, and wood adhesive is widely used in construction applications like laminated timber beams and plywood. The woodworking industry in the Asia Pacific is also growing due to increasing demand for wood products in domestic and export markets. The region has emerged as a global manufacturing hub for wood products due to cost-effective labor, abundant raw materials, and supportive government policies. Technological advancements, such as eco-friendly and high-performance wood adhesives, are also contributing to the market growth.

Wood Adhesives Market Top Key Players:

• 3M Company (US)
• H.B. Fuller Company (US)
• Ashland Global Holdings Inc. (US)
• Dow Inc. (US)
• Huntsman Corporation (US)
• Avery Dennison Corporation (US)
• LORD Corporation (US)
• Permabond LLC (US)
• Franklin International (US)
• Illinois Tool Works Inc. (US)
• DAP Products Inc. (RPM International) (US)
• Mapei Corporation (US)
• Eastman Chemical Company (US)
• Royal Adhesives & Sealants (H.B. Fuller) (US)
• Chemence Ltd. (US)
• RPM International Inc. (US)
• Wacker Chemie AG (Germany)
• Henkel AG & Co. KGaA (Germany)
• Jowat SE (Germany)
• Bostik (Arkema) (France)
• Akzo Nobel N.V. (Netherlands)
• Sika AG (Switzerland)
• Pidilite Industries Limited (India)
• DIC Corporation (Japan), and Other Major Players.

Key Industry Developments in the Wood Adhesives Market:

• In January 2023, Sika introduced MB EZ Rapid, a swift-drying moisture barrier and adhesive substrate consolidator designed for use in residential and commercial floor covering installations. This single-component solution caters to various surfaces such as plywood, concrete, gypsum, and old cutback adhesive.
• In March 2023, Pidilite Industries Limited announced to manufacture of hot melt adhesive in India with support from Jowats team.
• In July 2022, Henkel Adhesive Technologies extended its capabilities in timber construction solutions through an investment in 3RT located in Melbourne, Australia. Henkel aims to bolster its presence in the engineered wood sector and advance the integration of sustainable technology for future initiatives.

1. INTRODUCTION
   1. RESEARCH OBJECTIVES
   2. RESEARCH METHODOLOGY
   3. RESEARCH PROCESS
   4. SCOPE AND COVERAGE
      1. Market Definition
      2. Key Questions Answered
   5. MARKET SEGMENTATION
2. EXECUTIVE SUMMARY
3. MARKET OVERVIEW
4. GROWTH OPPORTUNITIES BY SEGMENT
5. MARKET LANDSCAPE
   1. PORTER’S FIVE FORCES ANALYSIS
      1. Bargaining Power Of Supplier
      2. Threat Of New Entrants
      3. Threat Of Substitutes
      4. Competitive Rivalry
      5. Bargaining Power Among Buyers
   2. INDUSTRY VALUE CHAIN ANALYSIS
   3. MARKET DYNAMICS
      1. Drivers
      2. Restraints
      3. Opportunities
      4. Challenges
   4. MARKET TREND ANALYSIS
   5. REGULATORY LANDSCAPE
   6. PESTLE ANALYSIS
   7. PRICE TREND ANALYSIS
   8. PATENT ANALYSIS
   9. TECHNOLOGY EVALUATION
   10. MARKET IMPACT OF THE RUSSIA-UKRAINE WAR
       1. Geopolitical Market Disruptions
       2. Supply Chain Disruptions
       3. Instability in Emerging Markets
   11. ECOSYSTEM
6. WOOD ADHESIVES MARKET BY TYPE (2017-2032)
   1. WOOD ADHESIVES MARKET SNAPSHOT AND GROWTH ENGINE
   2. MARKET OVERVIEW
   3. WATER-BASED ADHESIVES
      1. Introduction And Market Overview
      2. Historic And Forecasted Market Size in Value (2017 – 2032F)
      3. Historic And Forecasted Market Size in Volume (2017 – 2032F)
      4. Key Market Trends, Growth Factors And Opportunities
      5. Geographic Segmentation Analysis
   4. SOLVENT-BASED ADHESIVES
   5. REACTIVE ADHESIVES
   6. HOT MELT ADHESIVES
7. WOOD ADHESIVES MARKET BY RESIN TYPE (2017-2032)
   1. WOOD ADHESIVES MARKET SNAPSHOT AND GROWTH ENGINE
   2. MARKET OVERVIEW
   3. NATURAL
      1. Introduction And Market Overview
      2. Historic And Forecasted Market Size in Value (2017 – 2032F)
      3. Historic And Forecasted Market Size in Volume (2017 – 2032F)
      4. Key Market Trends, Growth Factors And Opportunities
      5. Geographic Segmentation Analysis
   4. SYNTHETIC
8. WOOD ADHESIVES MARKET BY APPLICATION (2017-2032)
   1. WOOD ADHESIVES MARKET SNAPSHOT AND GROWTH ENGINE
   2. MARKET OVERVIEW
   3. FURNITURE
      1. Introduction And Market Overview
      2. Historic And Forecasted Market Size in Value (2017 – 2032F)
      3. Historic And Forecasted Market Size in Volume (2017 – 2032F)
      4. Key Market Trends, Growth Factors And Opportunities
      5. Geographic Segmentation Analysis
   4. FLOORING
   5. CABINETS
   6. WINDOWS & DOORS
   7. PLYWOOD AND BOARD
9. WOOD ADHESIVES MARKET BY END-USE INDUSTRY (2017-2032)
   1. WOOD ADHESIVES MARKET SNAPSHOT AND GROWTH ENGINE
   2. MARKET OVERVIEW
   3. CONSTRUCTION
      1. Introduction And Market Overview
      2. Historic And Forecasted Market Size in Value (2017 – 2032F)
      3. Historic And Forecasted Market Size in Volume (2017 – 2032F)
      4. Key Market Trends, Growth Factors And Opportunities
      5. Geographic Segmentation Analysis
   4. FURNITURE
   5. PACKAGING
   6. AUTOMOTIVE
   7. AEROSPACE
10. COMPANY PROFILES AND COMPETITIVE ANALYSIS
    1. COMPETITIVE LANDSCAPE
       1. Competitive Positioning
       2. Wood Adhesives Market Share By Manufacturer (2023)
       3. Industry BCG Matrix
       4. Heat Map Analysis
       5. Mergers & Acquisitions
    2. 3M COMPANY (US)
       1. Company Overview
       2. Key Executives
       3. Company Snapshot
       4. Role of the Company in the Market
       5. Sustainability and Social Responsibility
       6. Operating Business Segments
       7. Product Portfolio
       8. Business Performance (Production Volume, Sales Volume, Sales Margin, Production Capacity, Capacity Utilization Rate)
       9. Key Strategic Moves And Recent Developments
       10. SWOT Analysis
    3. H.B. FULLER COMPANY (US)
    4. ASHLAND GLOBAL HOLDINGS INC. (US)
    5. DOW INC. (US)
    6. HUNTSMAN CORPORATION (US)
    7. AVERY DENNISON CORPORATION (US)
    8. LORD CORPORATION (US)
    9. PERMABOND LLC (US)
    10. FRANKLIN INTERNATIONAL (US)
    11. ILLINOIS TOOL WORKS INC. (US)
    12. DAP PRODUCTS INC. (RPM INTERNATIONAL) (US)
    13. MAPEI CORPORATION (US)
    14. EASTMAN CHEMICAL COMPANY (US)
    15. ROYAL ADHESIVES & SEALANTS (H.B. FULLER) (US)
    16. CHEMENCE LTD. (US)
    17. RPM INTERNATIONAL INC. (US)
    18. WACKER CHEMIE AG (GERMANY)
    19. HENKEL AG & CO. KGAA (GERMANY)
    20. JOWAT SE (GERMANY)
    21. BOSTIK (ARKEMA) (FRANCE)
    22. AKZO NOBEL N.V. (NETHERLANDS)
    23. SIKA AG (SWITZERLAND)
    24. PIDILITE INDUSTRIES LIMITED (INDIA)
    25. DIC CORPORATION (JAPAN)
11. GLOBAL WOOD ADHESIVES MARKET BY REGION
    1. OVERVIEW
    2. NORTH AMERICA
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Type
       4. Historic And Forecasted Market Size By Resin Type
       5. Historic And Forecasted Market Size By Application
       6. Historic And Forecasted Market Size By End-Use Industry
       7. Historic And Forecasted Market Size By Country
          1. USA
          2. Canada
          3. Mexico
    3. EASTERN EUROPE
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Segments
       4. Historic And Forecasted Market Size By Country
          1. Russia
          2. Bulgaria
          3. The Czech Republic
          4. Hungary
          5. Poland
          6. Romania
          7. Rest Of Eastern Europe
    4. WESTERN EUROPE
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Segments
       4. Historic And Forecasted Market Size By Country
          1. Germany
          2. United Kingdom
          3. France
          4. The Netherlands
          5. Italy
          6. Spain
          7. Rest Of Western Europe
    5. ASIA PACIFIC
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Segments
       4. Historic And Forecasted Market Size By Country
          1. China
          2. India
          3. Japan
          4. South Korea
          5. Malaysia
          6. Thailand
          7. Vietnam
          8. The Philippines
          9. Australia
          10. New-Zealand
          11. Rest Of APAC
    6. MIDDLE EAST & AFRICA
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Segments
       4. Historic And Forecasted Market Size By Country
          1. Turkey
          2. Bahrain
          3. Kuwait
          4. Saudi Arabia
          5. Qatar
          6. UAE
          7. Israel
          8. South Africa
    7. SOUTH AMERICA
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Segments
       4. Historic And Forecasted Market Size By Country
          1. Brazil
          2. Argentina
          3. Rest of South America
12. INVESTMENT ANALYSIS
13. ANALYST VIEWPOINT AND CONCLUSION
    1. Recommendations and Concluding Analysis
    2. Potential Market Strategies