Wood Adhesives Market Present Scenario and the Growth Prospects with Forecast 2024
Axiom Market Research & Consulting™ added a, ”Wood Adhesives Market Report, By
Resin Type, Source, Application and Geography – Global Market Share, Trend
Analysis & Forecast Up To 2024” The global wood adhesives market is forecast to grow at a
CAGR of XX% during the forecast period 2019 to 2024. The global wood adhesives
market is primarily driven by factors such as, innovations in furniture &
décor, rising urban population, increase disposable income and increasing
consumer spending on luxury furniture.
The report analyses the wood adhesives market by resin type into natural
resin adhesives and synthetic resin adhesives. Natural resin adhesives are
further sub segmented into animal based and plant based. Synthetic resin
adhesives are further bifurcated into thermosetting resin adhesives,
thermoplastic resin adhesives and others. The synthetic resin adhesive
dominated the global wood adhesive market and accounted for highest market
share in terms of volume. Moreover, natural resin adhesives segment is expected
to grow at a faster pace during the forecast period owing to increasing need of
green products, high environmental standards and price volatility of
petrochemical compound.
Based on technology, the market is segmented into solvent based, water
based, solvent less and others. The solvent based segment dominates the market
owing to its characteristics like bonding strength, resistance to chemicals and
temperature, and durability. Moreover, the demand for solvent less segment is
expected to grow during the forecast period. This growth is mainly attributed
to Increasing awareness related to health and environmental issues intensified
the demand for water borne and solvent free adhesive technologies.
By application the market is bifurcated into furniture, plywood,
particle board, flooring and decks, cabinets, windows and doors and others
including marine, tile board, shutters, sidings, ceilings, and wooden toys.
Amongst all major application, the furniture segment is projected to grow at
high pace, due to wide expansion of furniture industries and rising
construction spending in developed and developing economies.
By geography Wood Adhesives Market is studied across the countries of
key regions such as, North America, Europe, Asia Pacific and Middle East &
Africa. North America comprises United States, Canada and Mexico whereas Europe
would primarily cover Germany, France, UK, Italy and Rest of Europe. The key
countries included under Asia Pacific are China, Japan, India, Australia, and
Rest of Asia Pacific. In Middle East & Africa, South Africa and Rest of MEA
are the key countries covered in the report. Asia Pacific is expected to be the
fastest-growing region during the prediction period. Growth in furniture
manufacturing sector, urbanization and increase in construction activities are
the prominent factors driving the Asian wood adhesives market. Additionally,
rising demand for wood adhesive from China and India further boosts the wood
adhesive market.
Brows
Full Report Details: https://axiommrc.com/product/1685-wood-adhesives-market-report/
The leading companies in Wood Adhesives Market are Henkel AG & Co.
KGaA (Germany), H.B. Fuller (U.S.), 3M Company (U.S.), Ashland Inc. (U.S.),
Sika A.G. (Switzerland), The Dow Chemical Company (U.S.), AkzoNobel N.V.
(Netherlands), Bostik SA (France), and Pidilite Industries (India), etc.
research and development, new product development and technological advancement
are the key growth strategies adopted by major players to reinforce their
positions in the international market and expand their geographic
presence.
About Axiom MRC:
Axiom Market Research & Consulting™ (also known
as Axiom MRC), is a full-service market research and data analytics firm,
driven by a simple aim of providing key market intelligence to companies to
assist them in taking informed business decisions pertaining to their marketing
strategy, investments, new product launches, market competition, consumer or
end users, social media trends etc.
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Tel: +1(845)875-9786, +44(0) 20 23869707
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