Wood Adhesives and Binders Market

Wood Adhesives and Binders Market Size, Share Till 2027
Adhesives are bonding materials that find applications in various industries such
as packaging, construction, furniture, footwear, and automotive. Wood binders
and adhesives are specialized chemicals that efficiently bind wooden surfaces.
They are developed in such a way that they can bind wood-based non-structural
and structural surfaces effectively. Construction, packaging, and furniture are
the major end user of wood adhesives and binders. Adhesives today used in
various industries produced from various fossil-derived resources including
formaldehyde, melamine, urea, vinyl acetate, and isocyanate. Furthermore,
soy-based adhesives and binders have gained popularity among various
industries, due to increasing price of crude oil. Moreover, wood adhesives and
binders are predominantly used to manufacture doors, windows, wooden
cabinet, and wooden furniture.
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Market Regional Analysis
Asia Pacific is expected to be the fastest growing market and is expected to
account for significant market share in global wood adhesives & binders market
during the forecast period. This is owing to increasing infrastructure and
construction activities in emerging economies such as India and China. Rising
population in these countries is increasing the demand for residential projects,
which is subsequently supporting the market growth. North America is also
expected to witness significant growth during the forecast period.
Market Players
Key players operating in the global wood adhesives & binders market include
Huntsman Corporation, Henkel AG & Co. KGaA, BASF SE, Franklin
Adhesives and Polymers, 3M Company, and Ashland Inc.
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Global wood adhesives & binders market size is estimated to reach US$ 21.12 billion by 2021, exhibiting a CAGR of 4.54% during the forecast period (2019-2027).