WorldWide Wood Adhesives And Binders Market, Industry / Sector Analysis Report, Regional Outlook & Competitive Market Share & Forecast, 2019 - 2025 (Includes Business Impact of COVID-19)

                                          
Abstract, Snapshot, Market Analysis & Market Definition: Wood Adhesives And Binders Market

Industry / Sector Trends

Wood Adhesives And Binders Market size generated more than USD 14 billion in 2015 and is forecast to witness over 4% CAGR by 2024.
 

U.S Wood Adhesives And Binders Market size, by application, 2015 & 2024 (USD Million)
 

Robust growth in the construction industry is analyzed to be the key factor propelling the global wood adhesives and binders market size over the projected timeframe. The product is largely used in the wood products across construction industry for flooring, plywood, cabinets, windows, doors and other structural panels. The global construction industry was valued roughly at over USD 7 trillion in 2013 and is projected to exceed USD 13 trillion by 2024. This trend along with rising demand in order to enhance aesthetic appearance will subsequently propel wood adhesives and binders market demand, particularly for structural bonding applications.
 

Raw materials required in the wood adhesives and binders market share are generally petrochemical feedstock. The product is primarily synthesized from petroleum-based feedstock such as phenols, vinyl acetate, isocyanates, urea, acrylates, polyolefins, styrene butadiene and polyurethanes. These petrochemical and downstream products are dependent on the supply and prices of crude oil. Oscillating crude oil prices along with the civil unrest in the Middle East have resulted in bottleneck crude oil supply, which also affects the petrochemicals price. This may hamper wood adhesives and binders market price trends over the forecast timeframe. For instance, crude oil price in Dubai was approximately USD 35 per barrel in January 2009 and was close to USD 90 per barrel in July 2014.
 

VOC (volatile organic compounds) emissions during commercial and industrial product applications have associated environmental and health hazards. Prevalence of stringent environmental legislations for VOC emissions may obstruct industry growth by 2024, specially for solvent-based products. For instance, in the U.S., the ARB (Air Resources Board) issued a document for determining RACT (Reasonably Available Control Technology) to keep a check on the pollution caused by adhesive application. These environmental regulations restrict the global wood adhesives and binders market size, as violation of such government-defined regulations can lead to heavy penalties and losses.
 

However, emergence of bio-based product has created new growth prospects for the industry participants. For example, polyols, which are bio-derived from soybeans, can be effectively used in polyurethane adhesives formulation. Increasing bio-based product acceptance in the industry owing to its similar characteristics along with environmental and cost benefits will significantly boost the global wood adhesives and binders market size by 2024.
 

Market Segmentation, Outlook & Regional Insights: Wood Adhesives And Binders Market

 Wood Adhesives And Binders Market, By Product

Urea-formaldede wood adhesives and binders market share was approximately USD 3 billion in 2015. 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.
 

Phenol-formaldehyde wood adhesives and binders market share is projected to expand at over 4% CAGR over the projected timeframe. Phenol-formaldehyde resins adhesives offer advantages that includes better performance at moist conditions, low surface energy and resistance from chemicals. These can be formulated with other additives such as soy for improved bond strength. It also has lower emissions compared to urea-formaldehyde and are widely used for manufacturing particle board and medium density fiberboards.
 

Wood Adhesives And Binders Market, By Application

Global wood adhesives and binders market size for flooring & plywood applications shall witness gains at over 5% CAGR in terms of volume. Flooring & plywood applications include hardwood and softwood plywood applications and oriented strand board (OSB) particle board. Strong growth in the flooring industry along with escalating product demand will boost business growth by 2024.
 

Furniture & subcomponents applications generated revenue more than USD 4 billion in 2015. Increasing per capita disposable income of customers across the globe has elevated furniture demand substantially owing to propel business growth. Furthermore, increasing number of non-residential projects is expected to influence the furniture demand, as large number of desks and other furniture would be required. This will ultimately boost the wood adhesives and binders market size over the projected period.
 

Wood Adhesives And Binders Market, By Region

North America, led mainly by the U.S. wood adhesives and binders market share shall experience gains more than 4.5% CAGR over the estimated period. Increasing interior remodeling activities in the U.S. due to lavish consumer lifestyles will drive industry growth. In addition, elevating overall construction industry, residential and commercial, post 2008 economic turmoil will further complement business growth. However, strict government regulations in the region towards solvent-based products may hinder growth.
 

Asia Pacific, mainly by China, India and Japan, was valued at over USD 3.5 billion in 2015. Rapidly growing construction industry in the region is the prime factor contributing the regional wood adhesives and binders market. For instance, Asia Pacific accounts roughly around half the global construction spending. Furthermore, rising customer spending power has increased wood demand flooring and furniture applications. This is analyzed to fuel regional industry growth by 2024.
 

Europe wood adhesives and binders market share is likely to see moderate growth, with Latin America and the Middle East emerging as potential opportunities for wood adhesives and binders market growth over the coming decade.
 

Key Players, Recent Developments & Sector Viewpoints: Wood Adhesives And Binders Market


The global wood adhesives and binders market share is fairly consolidated with major five industry players accounting for 40% of the global industry share in 2015. 3M Company, Ashland Inc., H.B Fuller Company, Henkel AG & Co. KGaA, BASF SE, Huntsman Corporation, Avery Dennison Corporation AND Dow Chemical Company are some of the prominent industry participants.
 

Major chemical companies such as Dow, BASF, and Bostik enjoy the benefit of backward integration as they can produce raw materials required for product manufacturing. Companies solely manufacturing the product including Henkel, 3M Company and H.B. Fuller procure raw materials from chemical industries and manufacture a wide variety of product.
 

Wood Adhesives And Binders Industry Viewpoint


Increasing population across the globe is estimated to boost the construction projects which in turn will fuel wood adhesives and binders market size by 2024. The product offers benefits such as easy usage, time efficiency, lightweight, low prices and aesthetics which makes it desirable for a wide application spectrum in the constriction construction such as flooring and furniture. However, stringent regulations associated with volatile organic compounds (VOC) along with volatile petroleum feedstock prices are projected to hamper wood adhesives and binders market growth during the forecast timeframe. However, drifting focus towards minimizing reliance on synthetic (petroleum-derived) products has created new growth avenue for wood adhesives and binders market players

Key Insights Covered: Exhaustive Wood Adhesives And Binders Market
1.  Market size (sales, revenue and growth rate) of Wood Adhesives And Binders industry.
2. Global major manufacturers' operating situation (sales, revenue, growth rate and gross margin) of Wood Adhesives And Binders industry.
3. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Wood Adhesives And Binders industry.
4. Market size (sales, revenue) forecast by regions and countries from 2019 to 2025 of Wood Adhesives And Binders industry.

Research Methodology: Wood Adhesives And Binders Market

Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among others.