Synthetic Wood Adhesive Market Is Anticipated To Reach US$ 280.14 Mn By 2025.

Veröffentlicht von: Research Reports
Veröffentlicht am: 16.10.2017 12:29
Rubrik: Industrie & Handwerk


(Presseportal openBroadcast) - The furniture industry has significantly grown and has expanded into manufacturing interiors and home furnishings. Moreover, with the increase in the use of wooden flooring in homes, the consumption pattern of wood and furniture has increased, consequently driving the demand for wood adhesives. Furthermore, the latest trends that will gain traction in the wood adhesives market in the forthcoming years is the increasing demand for bio-based wood adhesives. Bio-based wood adhesives are derived from natural products which includes starch, plant proteins, and other materials that are readily biodegradable, less toxic, and easy to handle. Since the conventional resin-based wood adhesives are toxic to individuals and have an adverse effect on the environment, the coming years will witness an increase in the demand for bio-based adhesives. Furthermore, in terms of volume, the synthetic wood adhesive market was valued at 114.5 tons in 2016 and is expected to reach 172.2 tons by 2025, expanding at a CAGR of 4.7% from 2017 to 2025.

Urea-formaldehyde and melamine formaldehyde segments are anticipated as the foremost segments of the India Synthetic Wood Adhesive Market.

Urea-formaldehyde (UF) and melamine urea-formaldehyde (MUF) segments are expected to be the leading segments during the study period. The demand for urea-formaldehyde 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 resins adhesives offer advantages that includes better performance at moist conditions, low surface energy and resistance from chemicals. These can be articulated 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.

On the basis of application, the flooring & decks and plywood segments are the leading application segments accounting for most of the market share and are expected to witness sturdy growth within the forecast period. This can be attributed to the increased remodeling and infrastructure development activities across the globe. Growing spending on construction and increase in demand for luxurious and comfortable flooring has resulted in segment growth.

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Flooring & decks and plywood segments registered highest shares.

The flooring & decks and plywood segments accounted for the major shares and dominated this market in the past years. Factors such as the increasing demand for wooden flooring and plywood will contribute to the growth of this market segment in the coming years. Additionally, the rapid growth in the production and exports of engineered wood flooring and plywood products will also contribute to the growth of this segment.

Windows & doors are also expected to remain a dominant segment, as construction spending increases across the globe. Window films are also being manufactured to provide UV filtration in commercial & residential buildings. The product allows optimum thickness control while manufacturing such films, which is estimated to contribute to higher consumption over the forecast period.

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Some of the significant players functioning in the India Synthetic Wood Adhesive Market include BASF SE, 3M Company, Akzonobel N.V., Amar Décor, Anabond Limited, Ashland Inc., Asian Paints Limited, Astra Chemtech Private Limited, Berger Paints, Bluecoat Pvt. Ltd., Bostik SA, H.B. Fuller, Henkel AG & Co. KGaA, Hindustan Adhesives Limited, Huntsman International LLC., Jubilant Industries, Kansai Nerolac Paints Limited, Pidilite Industries Limited, Royal Bond, Royal DSM, Sika AG, The Dow Chemical Company, Zeneses Industries Inc., and so on.

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