Engineered Wood Adhesives Market by Resin (Melamine Formaldehyde, Phenol Resorcinol Formaldehyde, Polyurethane), Product (Cross-laminated Timber, Glulam, Laminated Veneer Lumber), Technology, Application - Global Forecast 2024-2030

Engineered Wood Adhesives Market by Resin (Melamine Formaldehyde, Phenol Resorcinol Formaldehyde, Polyurethane), Product (Cross-laminated Timber, Glulam, Laminated Veneer Lumber), Technology, Application - Global Forecast 2024-2030

The Engineered Wood Adhesives Market size was estimated at USD 8.02 billion in 2023 and expected to reach USD 8.32 billion in 2024, at a CAGR 3.91% to reach USD 10.50 billion by 2030.

Engineered wood adhesives are specialized substances such as Urea-formaldehyde, Phenol-formaldehyde, Melamine-formaldehyde, and Epoxy, among others, used to bond pieces of wood and wood-based materials together. These adhesives provide strength and durability to various engineered wood products, making them essential in the construction and furniture industries. Engineered wood adhesives are integral in constructing and enhancing the durability of wood-based products, serving pivotal roles in the construction and furniture industries. Wood adhesives encompass various applications, such as assembling furniture and manufacturing durable cabinetry and flooring, which helps ensure engineered wood products' long-term functionality and integrity. The expansion of the construction industry globally, along with rising urbanization activities, is significantly driving the demand for Engineered wood adhesives in the construction industry. Moreover, Stringent environmental regulations for the reduction of volatile organic compound emissions by wood adhesives due to their adverse environmental impact hinder the demand for wood adhesives. However, ongoing innovations in the development of sustainable and bio-based

Regional Insights

In the Americas, primarily the United States and Canada, the demand for engineered wood adhesives is robust, driven by a surge in construction activities. There is a significant shift towards sustainable construction materials within the regions, with stringent regulations and increasing environmental concerns, promoting energy-efficient buildings and surging the demand for bio-based engineered wood adhesives. The Asia-Pacific region is witnessing rapid growth in engineered wood adhesives utilization, fueling the expansion of urbanization and industrialization in countries such as China, India, and South Korea. With the region's booming population and economic development, there is an increasing demand for affordable housing and modern infrastructure. The shift towards more eco-friendly construction materials also drives the demand for engineered wood adhesives. In Europe, the demand for wood adhesives is driven by stringent environmental regulations and a high emphasis on reducing carbon footprints in the construction sector. The demand for engineered wood adhesives is robust in Germany, France, and the UK, aligning with the rise in engineered wood applications due to their low environmental impact and excellent durability. In the Middle East and parts of Africa, there is increasing awareness and gradual adoption of wood adhesives influenced by infrastructure modernization efforts and economic diversification strategies.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Engineered Wood Adhesives Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers

Rising urbanization activities globally
Extensive application of wood adhesives in construction industry

Market Restraints

Effects of extreme weather conditions on performance of wood adhesives

Market Opportunities

Evolution of sustainable and bio based alternatives
Ongoing Innovations in adhesive formulation that offer better performance characteristics

Market Challenges

Stringent environmental regulations for reducing volatile organic compounds emissions

Market Segmentation Analysis

Applications: expanding non structural applications of engineered wood adhesives
Technology: emergence of solventless adhesives as eco friendly adhesive option

Market Disruption Analysis

Porter’s Five Forces Analysis
Value Chain & Critical Path Analysis
Pricing Analysis
Technology Analysis
Patent Analysis
Trade Analysis
Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Engineered Wood Adhesives Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Engineered Wood Adhesives Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

Bostik Expands Its Portfolio with the Acquisition of ARC Building Products

Bostik, a global adhesive specialist, successfully acquired ARC Building Products. This acquisition allows Bostik to diversify its products and maintain its position in the construction industry. ARC Building Products, known for its innovative and high-quality engineered wood adhesives, complements Bostik's existing product range, promising enhanced solutions for customers. The merger aims to improve operational efficiencies and expand Bostik's market reach, reinforcing its competitive edge in the global adhesives industry.

Henkel and Covestro Join Forces to Propel Sustainability in Engineered Wood Adhesives

Henkel and Covestro formed a strategic partnership aimed at enhancing the sustainability of engineered wood adhesives. Their collaborative approach focuses on developing and utilizing bio-based polyurethane adhesives, which promise to reduce the environmental impact across various wood construction applications, from furniture assembly to structural bonding. This initiative underscores both companies' commitment to sustainability and sets a new benchmark for eco-friendly practices within the adhesive industry.

Henkel Introduces Innovative Biobased Polyurethane Adhesives for Enhanced Timber Construction

Henkel recently expanded its product portfolio with the launch of a new range of biobased polyurethane adhesives tailored for load-bearing timber construction. This development aligns with growing environmental concerns and the construction industry's shift towards sustainable practices. The adhesives are designed to offer superior performance in bonding wooden structures and significantly reduce the carbon footprint. This introduction comes as part of Henkel's broader commitment to sustainability, aiming to increase the share of biobased raw materials in their products and reduce reliance on fossil-based resources.

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Engineered Wood Adhesives Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Engineered Wood Adhesives Market, highlighting leading vendors and their innovative profiles. These include 3M Company, Akzo Nobel N.V., Astral Limited, BASF SE, BOSTIK by Arkema Group, DELO Industrie Klebstoffe GmbH & Co. KGaA, Dow Inc., Franklin International, Inc., H.B. Fuller Company., Henkel AG & Co.KGaA., Hexion Inc., Huntsman International LLC., IPS Corporation., ITW Performance Polymers by Illinois Tool Works Inc., Jowat SE, Jubilant Industries Ltd., MAPEI S.p.A., PARKER HANNIFIN CORP, Permabond LLC, Pidilite Industries Ltd., RPM International Inc, Sika AG, Soudal Ltd., The Reynolds Company, and Wacker Chemie AG.

Market Segmentation & Coverage

This research report categorizes the Engineered Wood Adhesives Market to forecast the revenues and analyze trends in each of the following sub-markets:

Resin
Melamine Formaldehyde
Phenol Resorcinol Formaldehyde
Polyurethane
Product
Cross-laminated Timber
Glulam
Laminated Veneer Lumber
Medium Density Fiberboard
Oriented Strand Board
Plywood
Technology
Reactive
Solvent-Based
Solvent-Less
Water-Based
Application
Non-Structural
Structural
Region
Americas
Argentina
Brazil
Canada
Mexico
United States
California
Florida
Illinois
New York
Ohio
Pennsylvania
Texas
Asia-Pacific
Australia
China
India
Indonesia
Japan
Malaysia
Philippines
Singapore
South Korea
Taiwan
Thailand
Vietnam
Europe, Middle East & Africa
Denmark
Egypt
Finland
France
Germany
Israel
Italy
Netherlands
Nigeria
Norway
Poland
Qatar
Russia
Saudi Arabia
South Africa
Spain
Sweden
Switzerland
Turkey
United Arab Emirates
United Kingdom

Please Note: PDF & Excel + Online Access - 1 Year