Wood Adhesive and Binders Market Size, Share, Industry, Forecast and outlook (2024-2031)

Global Wood Adhesive and Binders Market is segmented By Composite Type (Urea-Formaldehyde, Melamine-Urea-Formaldehyde, Phenol-Formaldehyde, Isocyanates, Phenol-Resorcinol-Formaldehyde, Others), By Application (Flooring & Plywood, Cabinets, Furniture & Subcomponents, Windows & Doors, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2023-2030

Wood Adhesive and Binders Market Overview

The Global Wood Adhesive & Binders Market is expected to grow at a CAGR of 4.1% during the forecasting period (2023-2030).

Wood adhesives and binders are produced from fossil-derived polymers as they are cost-effective and offer excellent performance in terms of heat and water resistance. Wood composites are a growing field of increasingly present products for various applications like the construction industry, confluence with the rising trend of using wooden furniture, with an undiminished upward trend. Moreover, with the increasing environmental concern, end-users are shifting towards green products. It is necessary to find alternatives obtained from bio-based resources that can replace petroleum-based polymers. The adhesive properties in terms of water resistance, bond strength, and heat resistance must be similar to enable this transition. The alternative can compete in terms of cost.

Wood Adhesive and Binders Market Scope

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Wood Adhesive and Binders Market Dynamics and Trends

The increasing industrial applications in manufacturing, including doors, flooring, cabinets, and windows, are expected to drive market growth in the forecast period. Moreover, the growing population and rapid urbanization followed by government regulation to promote residential construction are anticipated to drive the market growth. On the other hand, volatile crude oil prices and environmental regulations against chemicals emitting volatile organic compounds (VOC) hamper the overall market growth. Innovation and technology are growing over the last few decades under more stringent formaldehyde emission regulations. However, the lack of resistance to exterior weather conditions and formaldehyde emissions is challenging due to their cost, adhesive performance, and handling. Also, nanocrystalline cellulose (NCC), as an additive in wood binders, is a significant trend like digitalization and integration of home electronics into work & home furniture, offering growth opportunities in wood adhesives and binders.

Wood Adhesive and Binders Market Segmentation Analysis

By composite type, the market is segmented into urea-formaldehyde (UF), melamine-urea-formaldehyde (MUF), phenol-formaldehyde (PF), isocyanates, phenol-resorcinol-formaldehyde, others. By bio-based composite type, the market is segmented into lignin, protein, carbohydrate, others. By application, the market is segmented into cabinets, flooring & plywood, furniture & subcomponents, windows & doors, others.

The adhesives' low-cost and good adjustable properties have made it difficult for new bio-based alternatives to enter the market. Sustainable adhesives have to be available at low costs and need to be quickly distributable, fast reacting, and have a long life.  The mechanical strength of manufactured panels and their moisture tolerance is additional crucial parameters for bio-based adhesives that have yet to fulfil satisfactorily. Furthermore, to decrease the cost of plywood and save edible resources, a cheap and resourceful clay, sepiolite, was used to modify urea-formaldehyde (UF) resin. Moreover, sepiolite formed a toughened fracture surface, and the wet shear strength was improved by 31.4%. Also, the tunnel structure of SEP was beneficial to releasing formaldehyde; thus, the formaldehyde emission of the plywood bonded by UF resin with SEP declined by 43.7% as related to that without SEP and provided a new idea to reduce the formaldehyde emission.

Urea-formaldehyde (UF) adhesives dominate the wood panel composites market to prepare interior grade composites for furniture and a wide variety of other applications. An estimated volume of 11 million tons/year of these adhesives for wood are used globally and is expected to increase the market growth during the forecast period.

Global Wood Adhesive and Binders Market Geographical Share

APAC dominates the market and is expected to maintain its dominance during the forecast period due to increased construction industry growth. Rapid industrialization in developing countries like China, India, and Japan drives the wood adhesives and binders’ market during the forecast period. The government regulations associated with volatile chemical compounds (VOCs) are expected to hinder the market's wood adhesives and binders. Moreover, manufacturers produce bio-based and low VOC adhesives, which will create potential opportunities for the Asia Pacific wood adhesives and binders market and are expected to boost the market's growth. Also, the increasing demand for wood in flooring and furniture applications is expected to increase during the forecast period.

North America is holding the second-largest market share. The U.S dominates the market in this region due to increasing interior remodelling activities because lavish consumer lifestyles will boost the wood adhesives and binder market. Besides, raising overall construction industry, residential and commercial, economic turmoil will further complement the market growth. According to analysis in the U.S, the construction industry holds 4.1% GDP with a total value of new private construction around 1111.84 bn USD and the new construction put into is more than other regions. However, strict government regulations in the region towards solvent-based products may hinder market growth. Europe is likely to have significant growth, with Latin America and the Middle East developing a potential opportunity for wood adhesives and binders market growth during the forecast period.

Wood Adhesive and Binders Market Companies and Competitive Landscape

The wood adhesive & binders market is fragmented with the presence of regional and global players. The competitive outline lies with the increase in the regional company and growing investment in upstream application. 3M Company, Ashland Inc., H.B Fuller Company, Henkel AG, BASF SE, Huntsman Corporation, Avery Dennison Corporation, Dow Chemical Company, Adhesive Research Inc., Bostik SA are the major player in the adhesive market. The major players are adopting many growth strategies such as product launches, acquisitions, and collaborations, contributing to growing the wood adhesive & binders market globally.

3M Company

3M manufactures Fastbond contact adhesive 30NF, a water-based adhesive, low-odour designed to have high strength, coverage, long bonding range and good heat resistance. This superior adhesive has been shown to bond combinations of most foamed plastics, plastic laminate, wood, plywood, wood veneer and canvas. Moreover, the adhesives are created to foam a powerful bond resistant to high heat with a bonding range of up to 4 hrs. Besides, it also deals with decorative laminate applications where non-flammability and low VOCs are essential. Post-formable and heat resistant are non-flammable in the wet state and making it an optimal solution in settings where fire protection is considered. Moreover, the company has many wood adhesive products, including 3M Aerosol Adhesives, 3M Glue Sticks, 3M Scotch-Weld Adhesives, which provide a wide variety of options.

Why purchase the report?

• Visualize the composition of the Polymers for Wood Adhesive & Binders Market across each indication, regarding Composite Type and Application, highlighting the critical commercial assets and players.
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• Excel data sheet with thousands of data points of the Wood Adhesive & Binders Market levels 4/5 segmentation.
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