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Published Date: 2014-10-28Number of Pages: 103

Wood Adhesives and Binders (Product - Urea-formaldehyde, Melamine-urea-formaldehyde, Phenol-formaldehyde, Isocyanates, and Soy-based; Application - Cabinets, Flooring and Plywood, Furniture and Subcomponents, and Windows and Doors) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020

Global Wood Adhesives and Binders Market: Snapshot

Wood adhesives and binders refer to substances that adhere or bond to wood surfaces or wood particles. Used across a vast number of applications in areas where wooden structures are employed, wood adhesives and binders are among the key entities required across a number of consumer and industrial applications such as furniture, flooring, doors, windows, and cabinets. To be able to provide excellent bond between wooden surfaces wood adhesives and binders are required to exhibit great bonding strength, resistance to chemicals and temperature, and durability. 

While wood adhesives are available in both natural and synthetic varieties, focus has considerably increased on the production of new product varieties with lower content of volatile organic compounds (VOCs). This trend is driven due to the stringent regulations laid down by regulatory authorities against the use of environment damaging chemicals. This trend is expected to remain one of the key transformational factors impacting the overall development of the global wood adhesives and binders market in the next few years.

Transparency Market Research estimates that the global wood adhesives and binders market will exhibit a CAGR of 4.4% over the period between 2014 and 2020 and rise from a valuation US$13.15 bn in 2013 to US$17.77 bn by 2020. 

Demand for Wood Adhesives and Binders for Furniture and Subcomponents to Lead to Most Promising Growth Opportunities

The report examines the key applications of wood adhesives and binders across applications segments such as cabinets, flooring and plywood, furniture and subcomponents, windows and doors, crafts, and do-it-yourself consumer products. The furniture and construction industries grant the market its most promising application segments in the form of flooring, windows and doors, plywood, and furniture. A variety of wood adhesives and binders are extensively used to manufacture particle boards, oriented strand boards (OSBs), medium density fiberboards, and softwood plywood for use across these application areas. 

The segment of furniture and subcomponents is expected to emerge as the leading segment in terms of growth rate over the report’s forecast period. The segment is projected to exhibit a promising CAGR of over 5% in terms of volume over the period between 2014 and 2020. On the other hand, the segment of flooring and plywood remained the dominant segment across all regions in 2013. The segment accounted for over half of the global consumption of wood adhesives and binders in the said year. The trend is projected to continue to remain strong over the report’s forecast period, with demand from the vast rise in infrastructure activities to remain the key driver. 

Asia Pacific Market to Present Most Promising Growth Opportunities

In terms of geography, the report examines the wood adhesives and binders market in regions such as Asia Pacific, North America, Europe, and Middle East and Africa. Of these, the market in North America accounted for the dominant share of revenue in the global market in 2013 and also led in terms of volume-wise consumption. The region accounted for a massive 33% of the global consumption of wood adhesives and binders in 2013. In the next few years, North America is expected to retain dominance owing to vast demand across flooring and plywood applications. 

Emerging economies in Asia Pacific are expected to be among the most promising markets for wood adhesives and binders over the report’s forecast period. The vast rise in construction activities owing to rising urbanization in countries such as India and China is expected to emerge as the key demand driver of the global wood adhesives and binders market in the Asia Pacific region over the report’s forecast period. 

Some of the leading players operating   in the global wood adhesives and binders market are Bostik SA, Avery Dennison Corporation, Dow Chemical Company, Adhesives Research Inc., Huntsman Corporation, Henkel AG & Co. KGaA, BASF SE, H.B Fuller Company, 3M Company, and Ashland Inc.

Growth in the construction industry is expected to boost the demand for wood products. This would lead to growth in demand for wood adhesives and binders, especially for structural bonding applications. However, volatile feedstock prices for petroleum-based wood adhesives and binders and regulations on chemicals emitting volatile organic compounds (VOCs) are expected to hamper the growth of the wood adhesives and binders market. Extensive research, especially on bio-based chemistries, and new product development with low VOC emissions is expected to provide growth opportunities in the near future. 

 

This report provides a detailed description of the global wood adhesives and binders market based on volume share (kilo tons) and revenue (USD million) for the period from 2014 to 2020. The report highlights the factors contributing to the growth of the market. It also covers restraints that impede market growth. Detailed forecasts for the years 2014 to 2020 for wood adhesives and binders have been given separately for better understanding of the market scenario. The wood adhesives and binders market is described with respect to various segments along with the opportunities that are expected in the next six years.

 

For geographic analysis, the global wood adhesives and binders market has been segmented into regions such as North America, Europe, Asia Pacific and Rest of the World. The wood adhesives and binders market has been segmented based on the following product types:  Urea-formaldehyde, melamine-urea-formaldehyde, phenol-formaldehyde, isocyanates, soy-based and others. The study also analyzes market attractiveness for all product segments of wood adhesives and binders with the help of the market attractiveness tool. Additionally, average global historical prices for the period between 2004 and 2013 have been provided for each of the products mentioned above.  

 

The study segments the market on the basis of applications into cabinets, flooring & plywood, furniture & subcomponents, windows & doors, and other applications. The study provides forecasts and estimates for each application segment in terms of revenue and volume during the forecast period from 2014 to 2020. 

 

For a more comprehensive view of the market, a value chain analysis, raw material analysis and Porter’s five forces model is provided to understand the specifics of the industry structure besides giving an overview of the degree of competitiveness. The report also includes detailed profiles of key players such as 3M Company, HB Fuller, Henkel AG, BASF SE, Bostik SA, Huntsman Corporation, the Dow Chemical Company, Adhesive Research Inc., Avery Dennison Corporation and Ashland, Inc. Detailed description of players includes parameters such as company overview, financial overview, business strategies, SWOT analysis and recent developments of the company.

 

Certain assumptions were made in order to manage the scope of the research. Inflation is not a part of pricing in this report. Prices of wood adhesives and binders vary in each region. Different end-users use different types of products, thus pricing for each application varies according to region while estimating and forecasting market revenue on the global basis. Regional average price has been considered while breaking down the market by product types in each region. All prices accounted in the report reflect average free-on-board (FOB) prices.

 

The report segments the global wood adhesives and binders market as:

  • Wood Adhesives and Binders Market – Product Segment Analysis
    • Urea-formaldehyde (UF)
    • Melamine-urea-formaldehyde (MUF)
    • Phenol-formaldehyde (PF)
    • Isocyanates (MDI, TDI, HDI)
    • Soy based
    • Others (Including polyurethane, epoxy, silicone, polyvinyl acetate (PVAc) and ethyl vinyl acetate (EVA)
  • Wood Adhesives and Binders Market – Application Analysis
    • Cabinets
    • Flooring & plywood
    • Furniture & subcomponents
    • Windows & doors
    • Others (Including do-it-yourself consumer products and crafts)
  • Wood Adhesives and Binders Market - Regional Analysis
    • North America
    • Europe
    • Asia Pacific
    • Rest of the World


 
 
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