LONDON--(BUSINESS WIRE)--Technavio’s latest market research report on the global wood adhesives market provides an analysis of the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
Mohd Shakeel Iqbal, a lead analyst from Technavio, specializing in research on the additives, adhesives, and sealants sector, says, “The demand for wood adhesives is increasing in China due to an increase in the production of wood composites. The recycled wood is used to produce wood composite products. These products require wood adhesives during their manufacturing. In addition, the market will benefit from growth in the furniture manufacturing and construction industries.”
This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing
Buy 1 Technavio report and get the second for 50% off. Buy 2 Technavio reports and get the third for free.
The top three emerging market trends driving the global wood adhesives market according to Technavio research analysts are:
- Growth of housing market in North America
- Acceptance of modular kitchen
- Increasing demand for bio-based wood adhesives
Growth of housing market in North America
North America is considered the second largest luxury furniture market. The demand for luxury furniture encourages furniture manufacturers to introduce innovative designs, thereby forcing wood adhesive manufacturers to develop new and advanced products. The major percentage of the wood adhesives market in North America is from the US with 74%, followed by Canada with 20% and Mexico with 6%. The increasing use of wood in the interiors of housing and commercial buildings, especially in the US is fueling the demand for wood adhesives. The kids segment in the wood furniture industry provides notable growth prospects. The rise in demand for kids’ furniture is anticipated to boost the growth of the wood adhesives industry.
Acceptance of modular kitchen
Wooden wardrobes in the kitchen are gaining prominence in the recent years. In addition to the aesthetics of the wood and wardrobes, the consumers are also concerned about the durability and lifespan of wooden furniture. This has led to the development of new woods.
Boiling waterproof plywood is an engineered wood that is resistant to moisture and high temperatures. This is produced from thin layers of wood arranged at right angles using phenol-formaldehyde resins. Further advances and advent of such wood products and adhesives are expected over the forecast period.
Increasing demand for bio-based wood adhesives
Conventional resin-based wood adhesives have an adverse effect on the environment and are also toxic to individuals. These factors have resulted in the implementation of stringent regulations regarding their manufacture and use. Therefore, bio-based adhesives are gaining prominence and are being promoted.
“Bio-based wood adhesives are derived from natural products. These wood adhesives are prepared from lignin, tannins, carbohydrate, cellulose, starch, plant proteins, and other materials that are readily biodegradable, abundant, less toxic, cheap, and easy to handle,” says Shakeel.
Browse Related Reports:
- Global Antimicrobial Additives Market 2017-2021
- Global Glass Bonding Adhesives Market 2017-2021
- Global Marine Lubricants Market 2017-2021
Become a Technavio Insights member and access all three of these reports for a fraction of their original cost. As a Technavio Insights member, you will have immediate access to new reports as they’re published in addition to all 6,000+ existing reports covering segments like specialty chemicals, industrial gases, and olefins. This subscription nets you thousands in savings, while staying connected to Technavio’s constant transforming research library, helping you make informed business decisions more efficiently.
About Technavio
Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
If you are interested in more information, please contact our media team at media@technavio.com.
