NEW YORK, Jan. 3, 2017 /PRNewswire/ -- "The global wood adhesives market is projected to grow at a CAGR of 3.10% from 2016 to 2026" The global wood adhesives market is projected to reach USD 5.24 billion by 2026, at a CAGR of 3.10% from 2016 to 2026. Growth in this market is mainly attributed to the expansion of the construction industry, increasing urban population, recovery of the global economy, and growth in the furniture industry. However, the inclination of the furniture industry towards the adoption of fiberboard and metal for manufacturing home furniture is acting as a restraint to the growth of the global wood adhesives market.
"The furniture segment is the fastest-growing application segment of the global wood adhesives market"
The furniture application segment is projected to grow at the highest CAGR from 2016 to 2026 both, in terms of value and volume. The furniture industry comprises exterior and interior furniture such as tables, beds, chairs, cupboards, and other products. In addition, the construction of new houses and renovation & remodeling activities has also increased over the past few years. This has further increased the sales of new furniture as well as the repair & maintenance of old furniture, thereby propelling the growth of the global wood adhesives market.
"Rising demand from Asia-Pacific is a major driver for the wood adhesives market"
The Asia-Pacific region led the global wood adhesives market, in terms of volume, in 2015. China and Japan are the two major markets for wood adhesives in this region. Rise in the number of residential and commercial buildings and rapid urbanization in China and India are projected to drive the furniture and woodworking markets in this region, thereby resulting in a high demand for wood adhesives.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted.
The break-up of the primary interviews is given below:
- By Company Type - Tier 1 - 46%, Tier 2 – 27%, and Others - 27%
- By Designation – C-level – 36%, Director-level - 18%, and Others - 46%
- By Region - North America - 37%, Europe - 36%, Asia-Pacific - 18%, South America & Middle East and Africa – 9%
Key companies profiled in this market research report include Henkel AG & Co. KGaA (Germany), 3M Company (U.S.), Bostik SA (France), H.B. Fuller (U.S.), Sika AG (Switzerland), Ashland Inc. (U.S.), and AkzoNobel N.V. (Netherlands), among others.
The report covers the global wood adhesives market and its application across different industry verticals and regions. It aims at estimating the market size and future growth potential of this market across different segments such as resin type, technology, application, and region. Furthermore, the report also includes an in-depth competitive analysis of key players in the market along with their company profiles, SWOT analysis, recent developments, and key market strategies.
Reasons to buy the Report
The report will help the market leaders/new entrants by providing them the closest approximations of revenues for the overall wood adhesives market and its subsegments. This report will help stakeholders to better understand the competitor landscape and gain insights to position their businesses, and formulate market strategies. The report will also help stakeholders understand the pulse of the market and acquire information on key market drivers, restraints, challenges, and opportunities.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on wood adhesives offered by top players in the global wood adhesives market
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the global wood adhesives market
- Market Development: Comprehensive information about lucrative emerging markets – the report analyzes the markets for wood adhesives across varied regions
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the global wood adhesives market
- Competitive Assessment: In-depth assessment of market shares, growth strategies, products, and manufacturing capabilities of leading players in the global wood adhesives market
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