Industrial Wood Adhesives Market Size, Trends and Growth Analysis by 2027

The global market for industrial wood adhesives was valued at approximately US$ 5,133.8 million in 2019 and is anticipated to grow to US$ 7,656.2 million by 2027, reflecting a compound annual growth rate (CAGR) of 5.2% from 2020 to 2027.

Wood adhesives play a crucial role in the production of various building materials, including plywood, laminated veneer products, oriented strand board, particleboard, laminated beams and timbers, fiberboard, and edge- and end-jointed products. They are also essential in the manufacturing of architectural doors, windows, frames, furniture, floor coverings, and ceiling and wall tiles. The rapid growth of the construction sector is driving the increased use of wood, which in turn is expanding the demand for industrial wood adhesives.

The market for industrial wood adhesives is categorized based on resin type into two segments: natural and synthetic. In 2019, the synthetic segment dominated the market and is expected to continue its leadership throughout the forecast period. Synthetic wood adhesives are composed of prepolymers or polymers derived from petrochemical sources. These adhesives are typically applied in liquid form to ensure proper dispersion over the wood's wet surface. Prepolymers can be used directly if they are in liquid form or can be diluted in water solutions. When utilized as adhesives, synthetic polymers are either melted, dissolved, or emulsified in a solvent before application. Once applied, these adhesives solidify as the melted polymer cools or as the solvent evaporates or is absorbed. Natural adhesives are increasingly being supplanted by synthetic thermosetting resins, such as urea-formaldehyde (UF), phenol-formaldehyde (PF), and melamine-formaldehyde (MF) resins, which offer superior strength and water resistance.

Regionally, the industrial wood adhesives market is divided into North America, Europe, Asia Pacific (APAC), South America (SAM), and Middle East & Africa (MEA). In 2019, the Asia Pacific region held the largest share of the global industrial wood adhesives market. The increasing demand for wood-based products and the rising consumption of wooden furniture in countries within this region are significant factors contributing to market growth. Asia Pacific not only commands a substantial share in terms of value and volume but also hosts the highest number of wood adhesive manufacturers. Leading companies in this sector include Henkel AG & Co, Pidilite Industries Ltd, Jubilant Industries Ltd, and Sika AG. Pidilite Industries is known for its consumer-centric approach, emphasizing quality and innovation, while Sika AG is committed to maintaining high standards in its products and services. These companies provide a variety of ready-to-use wood adhesives that cater to numerous wood joinery applications, making them popular choices in the woodworking industry.

The COVID-19 pandemic has had a detrimental impact on numerous industries worldwide, leading to lockdowns, travel restrictions, and business closures. The manufacturing sector, in particular, has faced significant disruptions, including supply chain interruptions, cancellations of technology events, and office closures. The shutdown of manufacturing plants in key regions such as North America, South America, Europe, and Asia Pacific has hindered supply chains and adversely affected manufacturing operations, delivery timelines, and sales of various goods. Additionally, travel restrictions in North America have obstructed business collaborations and partnership opportunities. These challenges have negatively influenced the construction and manufacturing sectors, thereby restraining the growth of the industrial wood adhesives market.

Key players in the global industrial wood adhesives market include H.B. Fuller Company, Henkel AG & Company, KGAA, Ashland, Arkema Group, Sika AG, Pidilite Industries Ltd, Jubilant Industries Ltd, Dow, Inc., 3M, and Akzo Nobel N.V.

The overall size of the global industrial wood adhesives market has been determined through a combination of primary and secondary research methods. The research process began with extensive secondary research utilizing both internal and external sources to gather qualitative and quantitative data related to the market. Additionally, numerous primary interviews were conducted with industry participants and experts to validate the findings and gain deeper analytical insights. Participants included industry professionals such as VPs, business development managers, market intelligence managers, and national sales managers, as well as external consultants like valuation experts, research analysts, and key opinion leaders specializing in the industrial wood adhesives market.