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Wood Adhesives and Binders Market to Witness Substantial Gains Up To 5% From Flooring & Plywood Segment Over 2019-2024

Author : Ronak Bora | Published Date : 2019-08-06 

Flooring & plywood segment of wood adhesives and binders market is likely to witness gains close to CAGR 5%. This segment includes softwood and hardwood plywood applications. Booming construction & flooring industry will fuel product demand in the coming years. In 2016, overall wood adhesives and binders market for furniture & subcomponents application segment generated revenue close to USD 4 billon. Rising per capita income of consumers has fueled furniture demand considerably across the globe. Additionally, rising number of commercial projects is anticipated to influence furniture demand due to procurement of desks, chairs and several other furniture in bulk quantities.

Window & doors, cabinets, furniture & subcomponents, and flooring & plywood are the main application areas of wood adhesives and binders market. Furniture & subcomponents application segment, having had a revenue of USD 4 billion in 2015, will exhibit a significant growth rate over the years ahead, owing to its surging demand as a result of increase in spending by the customers across the globe. Moreover, escalating non-residential furniture work like desks manufacturing will fuel the demand for wood adhesives and binders significantly.

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North America, shall witness gains close to 4% CAGR during the forecast period. The product demand in this region will be primarily driven by increasing interior renovation activities in U.S on account of lavish consumer lifestyle. Asia Pacific, led by India, Japan and China, was worth more than USD 3 billion in 2016. The major factor responsible for driving the product demand in future is the rapidly growing construction industry. In addition, increased consumer spending has augmented wood furniture demand in this region, which will positively impact the wood adhesives and binders market over the forecast duration.

Considering the regional landscape, Asia Pacific wood adhesives and binders market, having had a revenue of more than USD 3.5 billion in 2015, will exhibit a considerable growth rate over the coming seven years, owing to the noticeably expanding construction industry. Moreover, the rise in per capita income results in a huge requirement for high quality wood appliances, which will favorably impact the product demand across APAC. India, China, and Japan will be the prominent revenue contributors.

In 2016, wood adhesives and binders market was consolidated with key companies holding more than 40% share of the industry market. Major industry players are H.B. Fuller, Henkel AG, BASF SE, 3M Company and Huntsman Corporation. Other notable companies are Avery Dennison, Bostik SA, Dow Chemical and Ashland Inc.

Glimpse of Table of Content (ToC)

Chapter 3     Wood Adhesives And Binders Market Insights

3.1     Wood Adhesives And Binders Market segmentation

3.2     Wood Adhesives And Binders Market size, forecast and growth expectations, 2013 - 2024

3.3     Wood Adhesives And Binders Market ecosystem analysis

3.3.1.    Vendor Matrix

3.3.2.    Distribution channel analysis

3.4     Wood adhesives and binders industry impact forces

3.4.1.    Growth drivers

3.4.1.1. Robust growth in the construction industry

3.4.2.    Industry pitfalls & challenges

3.4.2.1. Oscillating crude oil prices

3.4.2.2. Stringent environment regulations

3.5     Growth potential analysis

3.6     Porter's analysis

3.7     Company market share analysis, 2015

3.7.1.    Strategic landscape

3.8     PESTEL analysis

3.9     Regional price trends

3.9.1.    Cost structure analysis

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About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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