Global Wood Adhesives and Binders Market: Snapshot
Wood
adhesives and binders refer to substances that adhere or bond to wood
surfaces or wood particles. Used across a vast number of applications
in areas where wooden structures are employed, wood adhesives and
binders are among the key entities required across a number of
consumer and industrial applications such as furniture, flooring,
doors, windows, and cabinets. To be able to provide excellent bond
between wooden surfaces wood adhesives and binders are required to
exhibit great bonding strength, resistance to chemicals and
temperature, and durability.
While wood adhesives are available in both natural and synthetic
varieties, focus has considerably increased on the production of new
product varieties with lower content of volatile organic compounds
(VOCs). This trend is driven due to the stringent regulations laid
down by regulatory authorities against the use of environment
damaging chemicals.
This 103 page report gives readers a
comprehensive overview of the Wood Adhesives and Binders market.
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This
trend is expected to remain one of the key transformational factors
impacting the overall development of the global wood adhesives and
binders market in the next few years.Transparency Market Research
estimates that the global wood adhesives and binders market will
exhibit a CAGR of 4.4% over the period between 2014 and 2020 and rise
from a valuation US$13.15 bn in 2013 to US$17.77 bn by 2020.
Demand for Wood Adhesives and Binders for Furniture and
Subcomponents to Lead to Most Promising Growth Opportunities
The report examines the key applications of wood adhesives and
binders across applications segments such as cabinets, flooring and
plywood, furniture and subcomponents, windows and doors, crafts, and
do-it-yourself consumer products. The furniture and construction
industries grant the market its most promising application segments
in the form of flooring, windows and doors, plywood, and furniture. A
variety of wood adhesives and binders are extensively used to
manufacture particle boards, oriented strand boards (OSBs), medium
density fiberboards, and softwood plywood for use across these
application areas.
The segment of furniture and subcomponents is expected to emerge as
the leading segment in terms of growth rate over the report’s
forecast period. The segment is projected to exhibit a promising CAGR
of over 5% in terms of volume over the period between 2014 and 2020.
On the other hand, the segment of flooring and plywood remained the
dominant segment across all regions in 2013. The segment accounted
for over half of the global consumption of wood adhesives and binders
in the said year. The trend is projected to continue to remain strong
over the report’s forecast period, with demand from the vast rise
in infrastructure activities to remain the key driver.
Asia Pacific Market to Present Most Promising Growth Opportunities
In
terms of geography, the report examines the wood adhesives and
binders market in regions such as Asia Pacific, North America,
Europe, and Middle East and Africa. Of these, the market in North
America accounted for the dominant share of revenue in the global
market in 2013 and also led in terms of volume-wise consumption. The
region accounted for a massive 33% of the global consumption of wood
adhesives and binders in 2013. In the next few years, North America
is expected to retain dominance owing to vast demand across flooring
and plywood applications.
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Emerging economies in Asia Pacific are expected to be among the most
promising markets for wood adhesives and binders over the report’s
forecast period. The vast rise in construction activities owing to
rising urbanization in countries such as India and China is expected
to emerge as the key demand driver of the global wood adhesives and
binders market in the Asia Pacific region over the report’s
forecast period.
Some
of the leading players operating in the global wood adhesives and
binders market are Bostik SA, Avery Dennison Corporation, Dow
Chemical Company, Adhesives Research Inc., Huntsman Corporation,
Henkel AG & Co. KGaA, BASF SE, H.B Fuller Company, 3M Company,
and Ashland Inc.
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