Summary
The North and Central America industrial wood adhesives market was valued at US$ 1,270.73 million in 2019 and is projected to reach US$ 1,792.78 million by 2027; it is expected to grow at a CAGR of 4.5% from 2020 to 2027.
The wood adhesive is used to manufacture building materials such as plywood and other laminated veneer products, oriented strandboard, particleboard, laminated beams and timbers, fiberboard, edge- and end jointed products, architectural doors, windows and frames, furniture, floor coverings, ceiling, and wall tiles, and so on.The rapidly expanding construction industry is increasing the application of wood, thereby creating need for industrial wood adhesives.
Wood adhesives play a significant role in modern industrial wood construction.It is used for various wood assembly applications such as dowel attachment, edge gluing, finger joining, tongue and groove joints, and miter gluing.
Adhesives help save wood and can be utilized to build light and strong structures.It also helps moderate the expansion and contraction due to the inherent moisture retention of wood.
Manufacturers are striving to produce wood adhesives that have greater resistance to moisture content. Compared to conventional methods, wood adhesives offer numerous benefits such as improved adhesion, compatibility of the use with several substrates and higher strength, faster drying and setting time, aesthetic appeal compared to use of metal fasteners, and other methods of bonding.
Based on resin type, the North and Central America industrial wood adhesives market is bifurcated into natural and synthetic.In 2019, the synthetic segment led the market with a larger share.
Synthetic industrial wood adhesives consist of prepolymers or polymers that are synthetized from the petrochemically derived raw materials.These adhesives must be applied in liquid form to get disperse over the wet surface of the wood.
However, the prepolymers can be applied directly if they are available in liquid form or they can be applied as water solutions.The synthetic polymers when applied as adhesives are melted, dissolved, or emulsified in a solvent prior to the technology.
After being applied, the polymer-based industrial wood adhesives are set by solidification of the melted polymer with the cooling or removal of the solvent through evaporation or adsorption. The natural adhesives are being replaced by synthetic thermosetting resins for the industrial wood panels such as urea formaldehyde (UF) resins, phenol-formaldehyde (PF) resins, and melamine- formaldehyde (MF) resins with better strength and water resistance.
Geographically, the North and Central America industrial wood adhesives market is bifurcated into North America and Latin America.In 2019, North America held a larger share of the market.
The companies across North America are continuously improving the overall business processes to meet the customers’ demand for superior quality products and services in the best possible way.Several domestic and multinational companies already have a strong foothold in the US and Canada.
Wood adhesives play a vital role in modern industrial wood construction.The construction industry in North America is expanding tremendously due to a strong economy combined with an increase in federal and state funding for public works and institutional buildings.
Therefore, surge in construction activities due to rapid industrialization and urbanization, coupled with an increase in remodeling and renovation activities, are also fuelling the growth of the wood adhesives market in North America.
The COVID-19 outbreak was first reported in Wuhan (China) during December 2019.The US, Mexico, Canada, Panama, Costa Rica, and El Salvador are among the most affected nations owing to the large number of cases registered as of January 2021.
According to the WHO, there are ~43,818,537 confirmed cases and 1,003,768 death cases worldwide.The COVID-19 crisis is hindering economies and undertakings due to lockdowns, travel bans, and business shutdowns.
The North and Central America chemicals and materials industry is one of the major businesses witnessing downturn due to the outbreak. These factors are restraining the growth of the North and Central America industrial wood adhesives market.
H.B.Fuller Company; Henkel AG & Company; KGAA; Ashland; Arkema Group; Sika AG; Pidilite Industries Ltd; Jubilant Industries Ltd; Dow, Inc.; 3M; and Akzo Nobel N.V. are among the major players operating in the North and Central America industrial wood adhesives market.
The overall North and Central America industrial wood adhesives market size has been derived in accordance with both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the North and Central America industrial wood adhesives market.
