Engineered Wood Adhesives Market Size is Projected to Reach US$ 11.28 Billion, Expanding at 3.6% CAGR From 2024 to 2032

Rising awareness about using environmentally friendly materials fuels the engineered wood adhesives market growth.

NEW YORK CITY, NEW YORK, UNITED STATES, September 3, 2024 /EINPresswire.com/ -- 𝐀𝐜𝐜𝐨𝐫𝐝𝐢𝐧𝐠 𝐭𝐨 𝐚 𝐫𝐞𝐜𝐞𝐧𝐭 𝐫𝐞𝐩𝐨𝐫𝐭 𝐩𝐮𝐛𝐥𝐢𝐬𝐡𝐞𝐝 𝐛𝐲 𝐏𝐨𝐥𝐚𝐫𝐢𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡, 𝐭𝐡𝐞 𝐞𝐧𝐠𝐢𝐧𝐞𝐞𝐫𝐞𝐝 𝐰𝐨𝐨𝐝 𝐚𝐝𝐡𝐞𝐬𝐢𝐯𝐞𝐬 𝐦𝐚𝐫𝐤𝐞𝐭 𝐬𝐢𝐳𝐞 𝐰𝐚𝐬 𝐯𝐚𝐥𝐮𝐞𝐝 𝐚𝐭 𝐔𝐒𝐃 8.25 𝐛𝐢𝐥𝐥𝐢𝐨𝐧 𝐢𝐧 2023 𝐚𝐧𝐝 𝐢𝐬 𝐩𝐫𝐨𝐣𝐞𝐜𝐭𝐞𝐝 𝐭𝐨 𝐫𝐞𝐚𝐜𝐡 𝐔𝐒𝐃 11.28 𝐛𝐢𝐥𝐥𝐢𝐨𝐧 𝐛𝐲 2032 𝐟𝐫𝐨𝐦 𝐔𝐒𝐃 8.49 𝐛𝐢𝐥𝐥𝐢𝐨𝐧 𝐢𝐧 2024, 𝐫𝐞𝐠𝐢𝐬𝐭𝐞𝐫𝐢𝐧𝐠 𝐚 𝐂𝐀𝐆𝐑 𝐨𝐟 3.6% 𝐟𝐫𝐨𝐦 2024 𝐭𝐨 2032.

In 2023, the Asia Pacific region emerged as the dominant force in the engineered wood adhesives market, boasting the largest revenue share. The European market is expected to follow suit with a significant CAGR, while North America is also set to make substantial strides during the forecast period.
Engineered wood adhesives, also known as manufactured board adhesives, are versatile formulations of wood strands, particles, fibers, or veneers with adhesives. They are designed for the production of high-quality, sustainable wood-based materials such as plywood, particleboard, medium-density fiberboard, and laminated veneer lumber (LVL). Their diverse applications and unique properties have made them a popular choice in the construction, furniture, and manufacturing industries. Engineered wood, with its superior durability, consistency, size flexibility, ease of installation, and low maintenance, outperforms natural wood in many aspects.

Prominent companies in the market are investing heavily in research and development and constantly launching various products. For instance, in November 2023, Henkel launched bio-based Loctite PUR adhesives, which can reduce CO2 emissions by over 60%.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐅𝐫𝐞𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐭𝐡𝐞 𝐑𝐞𝐩𝐨𝐫𝐭:
https://www.polarismarketresearch.com/industry-analysis/engineered-wood-adhesives-market/request-for-sample

𝐊𝐞𝐲 𝐅𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐨𝐟 𝐫𝐞𝐩𝐨𝐫𝐭:
• The market is projected to upsurge from USD 8.49 billion in 2024 to USD 11.28 billion by 2032, with a CAGR of 3.6% during the forecast period.

• The engineered wood adhesives market segmentation includes resin, product, technology, application, and region. By resin, the phenol-resorcinol-formaldehyde segment is projected to hold the largest market share during the forecast period.

• By region, In 2023, the Asia Pacific region generated the largest share 2023, followed by Europe and North America. Rapid urbanization and infrastructure development in nations such as China, India, and Southeast Asian nations are the primary drivers of the market growth in Asia Pacific. Additionally, growing demand for high-quality adhesives such as plywood, particle board, and MDF (Medium Density Fiberboard) accelerates the engineered wood adhesives market sales.

𝐊𝐞𝐲 𝐂𝐨𝐧𝐭𝐫𝐢𝐛𝐮𝐭𝐢𝐧𝐠 𝐅𝐚𝐜𝐭𝐨𝐫𝐬:

Shift Towards Sustainable Materials: The increasing awareness about using environmentally friendly materials and the introduction of environmental regulations have empowered the industry to shift towards sustainable options. With the increased adoption of soy-based products and other bio-based adhesives, the market for engineered wood adhesives is likely to grow.

Advancements in Adhesive Technology: Rising innovations in adhesive compositions and application methods are expanding potential applications of engineered wood in various industries. Advanced engineered wood products aimed at reducing VOC emissions, improving resistance to heat and moisture, and improving flexibility are being developed, which augments the engineered wood adhesives market growth.

Adoption in Furniture Manufacturing: Compared to traditional solid wood, furniture makers increasingly prefer engineered wood, such as plywood, particleboard, and medium-density fiberboard (MDF), fueling overall demand in the furniture industry.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐟𝐨𝐫 𝐚 𝐃𝐢𝐬𝐜𝐨𝐮𝐧𝐭 𝐨𝐧 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭 𝐁𝐞𝐟𝐨𝐫𝐞 𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞:
https://www.polarismarketresearch.com/industry-analysis/engineered-wood-adhesives-market/request-for-discount-pricing

𝐄𝐧𝐠𝐢𝐧𝐞𝐞𝐫𝐞𝐝 𝐖𝐨𝐨𝐝 𝐀𝐝𝐡𝐞𝐬𝐢𝐯𝐞𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 𝐚𝐧𝐝 𝐂𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐯𝐞 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬:
Market players are expanding their product portfolio with a number of activities conducted, such as new product launches, collaboration, agreements, mergers and acquisitions, and higher investments. To survive in a competitive environment, manufacturers are aiming to minimize operational costs in the global engineered wood adhesives industry.

𝐌𝐚𝐣𝐨𝐫 𝐩𝐥𝐚𝐲𝐞𝐫𝐬 𝐢𝐧 𝐭𝐡𝐞 𝐞𝐧𝐠𝐢𝐧𝐞𝐞𝐫𝐞𝐝 𝐰𝐨𝐨𝐝 𝐚𝐝𝐡𝐞𝐬𝐢𝐯𝐞𝐬 𝐦𝐚𝐫𝐤𝐞𝐭 𝐚𝐫𝐞:
• AICA Kogyo Co., Ltd
• AkzoNobel N.V.
• Arkema SA
• Astral Limited
• BASF SE
• Dow
• H.B. Fuller Company
• Henkel AG & Co., KGaA
• Hexion
• Huntsman Corporation

𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐦𝐨𝐫𝐞 𝐚𝐛𝐨𝐮𝐭 𝐭𝐡𝐢𝐬 𝐫𝐞𝐩𝐨𝐫𝐭 𝐛𝐞𝐟𝐨𝐫𝐞 𝐩𝐮𝐫𝐜𝐡𝐚𝐬𝐞:
https://www.polarismarketresearch.com/industry-analysis/engineered-wood-adhesives-market/inquire-before-buying

𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰:

𝐄𝐧𝐠𝐢𝐧𝐞𝐞𝐫𝐞𝐝 𝐖𝐨𝐨𝐝 𝐀𝐝𝐡𝐞𝐬𝐢𝐯𝐞𝐬 𝐁𝐲 𝐑𝐞𝐬𝐢𝐧 𝐎𝐮𝐭𝐥𝐨𝐨𝐤:
• Melamine Formaldehyde
• Phenol Resorcinol Formaldehyde
• Polyurethane
• Others

𝐄𝐧𝐠𝐢𝐧𝐞𝐞𝐫𝐞𝐝 𝐖𝐨𝐨𝐝 𝐀𝐝𝐡𝐞𝐬𝐢𝐯𝐞𝐬 𝐁𝐲 𝐏𝐫𝐨𝐝𝐮𝐜𝐭 𝐎𝐮𝐭𝐥𝐨𝐨𝐤:
• Cross-laminated timber (CLT)
• Glulam
• Plywood
• Oriented Strand Board (OSB)
• Medium Density Fiberboard (MDF)
• Laminated Veneer Lumber (LVL)
• Others

𝐄𝐧𝐠𝐢𝐧𝐞𝐞𝐫𝐞𝐝 𝐖𝐨𝐨𝐝 𝐀𝐝𝐡𝐞𝐬𝐢𝐯𝐞𝐬 𝐁𝐲 𝐓𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐲 𝐎𝐮𝐭𝐥𝐨𝐨𝐤:
• Solvent-Based
• Water-Based
• Solvent-Less
• Reactive

𝐄𝐧𝐠𝐢𝐧𝐞𝐞𝐫𝐞𝐝 𝐖𝐨𝐨𝐝 𝐀𝐝𝐡𝐞𝐬𝐢𝐯𝐞𝐬 𝐁𝐲 𝐀𝐩𝐩𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧 𝐎𝐮𝐭𝐥𝐨𝐨𝐤:
• Structural
• Non-Structural

𝐄𝐧𝐠𝐢𝐧𝐞𝐞𝐫𝐞𝐝 𝐖𝐨𝐨𝐝 𝐀𝐝𝐡𝐞𝐬𝐢𝐯𝐞𝐬 𝐁𝐲 𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐎𝐮𝐭𝐥𝐨𝐨𝐤:
• North America
o US
o Canada

• Europe
o Germany
o France
o UK
o Italy
o Spain
o Netherlands
o Russia
o Rest of Europe

• Asia-Pacific
o China
o Japan
o India
o Malaysia
o South Korea
o Indonesia
o Australia
o Vietnam
o Rest of Asia-Pacific

• Middle East & Africa
o Saudi Arabia
o UAE
o Israel
o South Africa
o Rest of Middle East & Africa

• Latin America
o Mexico
o Brazil
o Argentina
o Rest of Latin America

𝐁𝐫𝐨𝐰𝐬𝐞 𝐌𝐨𝐫𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭𝐬:

𝐏𝐨𝐥𝐲𝐞𝐭𝐡𝐲𝐥𝐞𝐧𝐞𝐢𝐦𝐢𝐧𝐞 𝐌𝐚𝐫𝐤𝐞𝐭:
https://www.polarismarketresearch.com/industry-analysis/polyethyleneimine-market

𝐒𝐭𝐲𝐫𝐞𝐧𝐢𝐜 𝐁𝐥𝐨𝐜𝐤 𝐂𝐨𝐩𝐨𝐥𝐲𝐦𝐞𝐫 𝐌𝐚𝐫𝐤𝐞𝐭:
https://www.polarismarketresearch.com/industry-analysis/styrenic-block-copolymer-market

𝐁𝐥𝐨𝐰𝐢𝐧𝐠 𝐀𝐠𝐞𝐧𝐭 𝐌𝐚𝐫𝐤𝐞𝐭:
https://www.polarismarketresearch.com/industry-analysis/blowing-agent-market

𝐆𝐫𝐚𝐟𝐭𝐞𝐝 𝐏𝐨𝐥𝐲𝐨𝐥𝐞𝐟𝐢𝐧𝐬 𝐌𝐚𝐫𝐤𝐞𝐭:
https://www.polarismarketresearch.com/industry-analysis/grafted-polyolefins-market

𝐅𝐢𝐫𝐞 𝐑𝐞𝐬𝐢𝐬𝐭𝐚𝐧𝐭 𝐆𝐥𝐚𝐬𝐬 𝐌𝐚𝐫𝐤𝐞𝐭:
https://www.polarismarketresearch.com/industry-analysis/fire-resistant-glass-market

𝐀𝐛𝐨𝐮𝐭 𝐏𝐨𝐥𝐚𝐫𝐢𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡:
Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR’s clientele spread across different enterprises. We at Polaris are obliged to serve PMR’s diverse customer base present across the industries of healthcare, technology, semiconductors, and chemicals among various other industries present around the world. We strive to provide PMR’s customers with updated information on innovative technologies, high-growth markets, emerging business environments, and the latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced, and extremely qualified team of experts comprising SMEs, analysts, and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR’s customers.

Likhil G
Polaris Market Research and Consulting
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