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South America Industrial Wood Adhesives Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Resin Type, and Technology

South America Industrial Wood Adhesives Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Resin Type, and Technology

  • June 2021
  • 96 pages
  • ID: 6134790
  • Format: PDF
  • The Insight Partners

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The South America industrial wood adhesives market is expected to grow from US$ 275.15 million in 2020 to US$ 365.73 million by 2027; it is estimated to grow at a CAGR of 4.1% from 2020 to 2027.

Factors such as rising consumer preferences for aesthetics and increasing investments in construction drive the market growth.Wooden floorings are gaining immense traction in South American countries.

The construction of resorts and luxury hotels involves large-scale use of a wooden floor to offer an aesthetic appeal.Also, wooden floors are resistant to stains, and they require low maintenance.

The expanding tourism sector in Latin American countries would amplify the construction of hotels and resorts, subsequently stimulating the market growth.For instance, the tourism sector in Chile is expanding strongly, especially in remote areas, presenting considerable market opportunities.

Furthermore, the region’s key players increase their market share by adopting strategies such as product developments and innovations. Besides, they gain immense customer attraction by announcing the launch of advanced and new products continuously.
Countries in South America, especially Brazil, witnessed an unprecedented rise in the number of COVID-19 confirmed cases, which led to the discontinuation of industrial wood adhesives manufacturing activities.The downfall of other chemical & materials manufacturing sectors have negatively impacted the demand for industrial wood adhesives during the early months of 2020.

Moreover, decline in the overall construction and building materials manufacturing activities has led to the discontinuation of industrial wood adhesives manufacturing projects, thereby reducing the demand for industrial wood adhesives.Similar trend was witnessed in other South American countries, such as Colombia, Argentina, Peru, Chile, Ecuador, and Bolivia.

However, the countries are likely to overcome this decline in demand as the economic activities are regaining their pace, especially in the beginning of 2021.

Based on resin type, the South America industrial wood adhesives market is bifurcated into natural and synthetic.The synthetic segment led the market in 2019.

Synthetic industrial wood adhesives consist of prepolymers or polymers that are synthetized from the petrochemically derived raw materials.These adhesives must be applied in the liquid form to get disperse over the wet surface of the wood.

However, the prepolymers can be applied directly if they are available in the 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. High quality and durable panels can be made using such adhesives. Thermoplastic resins are the another sets of synthetic polymers that are used as adhesives. The major industrial wood adhesive in this category is the polyvinyl acetate that is employed for bonding wood panels for the exterior applications. It is used to produce softwood plywood, oriented waferboard, and strandboard. Another synthetic industrial wood resin is the resole resin. When resole resin is used as wood adhesive, it is generally present in aqueous solution that is cured easily with pressure and heat. Even though the synthetic industrial wood adhesives allow economical and efficient utilization of the diverse and ever-changing wood resources, the development of the synthetic resins is being restricted by the non-renewability and the toxicity of the petroleum-based products.

The overall South America industrial wood adhesives market size has been derived using 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.

The process also serves the purpose of obtaining an overview and forecast for the South America industrial wood adhesives market with respect to all the segments pertaining to the region.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 South America industrial wood adhesives market. A few of the key companies operating in the market are H.B. Fuller Company; Henkel AG & Company, KGaA; Ashland; Arkema Group; Sika AG; Pidilite Industries Ltd.; Dow Inc.; 3M, and Akzo Nobel N.V.

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