07-May-2021 | Zion Market Research
The major companies in global wood adhesives and binders market comprise Akzo Nobel NV, The Sherwin-Williams Company, PPG Industries, Inc., Kansai Nerolac Paints Limited, Jotun, DowDuPont, Inc., Arkema SA, RPM International Inc., Nippon Paint Holdings Co., Ltd, Asian Paints. These players are claimed to have major role in the development of wood adhesives and binders market.
According to analysts at Zion Market Research, the global wood adhesives and binders market added up for USD 4.8 Billion in 2020 and is likely to cross USD 6.7 Billion by end of 2028, developing at a CAGR of almost 4.5% from 2021 to 2028.
Rising Construction Activities All Over the World to Boost the Wood Adhesives and Binders Market
As per analysts at Zion Market Research, the global wood adhesives and binders market is likely to see significant development due to rising construction activities all over the world over the forecast period. Wood adhesives and binders indicate to a substance employed for holding together two wood surfaces or another element. The developing construction sector and the widespread infrastructure activities are likely to boost the growth of wood adhesives and binders market in the near future. Moreover, altering trends in lifestyle and home furnishings is also likely to power the development of the wood adhesives and binders market. On the other hand, increasing rules on the usage and manufacturing of wood adhesives and binders and the changeable prices of raw material are claimed to be the limitations to the development of the wood adhesives and binders market within the near future.
The shift in the trend towards bio-based and green adhesives is likely to offer new avenues for the major players in the sector to drive the wood adhesives and binders market. Also, various R&D activities by market players in the industry are also set to bolster the development of wood adhesives and binders market. For example, in January 2016, BASF strengthened its business by combining development and marketing of adhesive systems, which depend on amino isocyanates and resins, boosting the development of wood adhesives and binders market.
Development Activities for Infrastructure in North America to Maintain Its Dominance in Wood Adhesives and Binders Market
In terms of topography, North America in 2020 was the biggest market for wood adhesives and binders market owing to the huge construction sector and the development activities for infrastructure in the area. Asia Pacific added up for the second biggest share chased by Europe. Asia Pacific is likely to be the quickest developing region for the wood adhesives and binders market due to the increasing remodeling and construction activities in the area. The Middle East & Africa and Latin America are likely to see reasonable development for wood adhesives and binders market within the forecast period.
Browse the full “Wood Adhesives And Binders Market By Type (Urea Formaldehyde (UF), Melamine Urea Formaldehyde (MUF), Phenol Formaldehyde (PF), Isocyanates, Soy Based And Others), By Applications (Cabinets, Flooring & Plywood, Furniture & Subcomponents, Windows & Doors And Other)- Global Industry Perspective, Comprehensive Analysis And Forecast, 2020 – 2028.” Report at https://www.zionmarketresearch.com/report/wood-adhesives-binders-market
The global wood adhesives and binders market is segmented as follows:
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