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

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

  • June 2021 •
  • 112 pages •
  • Report ID: 6134587 •
  • Format: PDF
The Asia Pacific industrial wood adhesives market is expected to grow from US$ 2,108.04 million in 2020 to US$ 3,076.58 million by 2027; it is estimated to grow at a CAGR of 5.5% from 2020 to 2027. Factors such as the rising demand for wood-based products from Asia-Pacific countries and increasing consumption of wooden furniture across the region drive the growth of the market. Asia Pacific holds a substantial share in the global market in terms of value and volume. The largest producers of wood adhesives are located in Asia-Pacific. A few of the leading companies in the production of wood adhesives are Henkel AG & Co, Pidilite Industries Ltd, Jubilant Industries Ltd, and Sika AG. Pidilite Industries Ltd is consumer centric and always focuses on quality and innovation. Sika AG is dedicated to maintaining highest quality standards with its products and services. All these manufacturers offer a range of ready-to-use wood adhesives, which are suitable for most of the wood joinery purposes. They provide products that are very popular and effective in the woodworking industry.
Countries in Asia Pacific, especially India, 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 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 Asia Pacific countries such as Japan, China, and Australia.

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 Asia Pacific 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 Asia Pacific 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 Asia Pacific 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 Asia Pacific 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.; Jubilant Industries Ltd.; Dow Inc.; 3M, and Akzo Nobel N.V.
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