Wood Adhesives and Binders Market in flooring & plywood segment 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.
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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.
Robust growth indicators in construction business across the globe will be the chief growth driver for the wood adhesives and binders market over the forecast timespan. Wood adhesives and binders are extensively used in construction industry in production of cabinets, flooring, doors, windows and several other structural components. Construction industry is witnessing substantial growth with valuation in 2013 exceeding USD 7 trillion and may reach USD 13 trillion in the coming years. This trend coupled with increasing demand for improving aesthetic appearance of structures will accelerate product demand in the forecast duration.
Escalating growth in the construction sector will lead wood adhesives and binders market to carve an exponential growth graph over the years ahead, driven by the shifting consumer trends toward aesthetics. Growing urbanization and industrialization across the BRIC countries will also augment wood adhesives and binders industry share. The rising urban population, accustomed to a lavish lifestyle, will spend heavily on renovating homes and offices, in response to which global wood adhesives and binders market will observe significant growth.
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North America Wood adhesives and binders market, 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.
Major Point From Table Of Content:
Chapter 3 Wood Adhesives And Binders Market Insights
3.1 Wood Adhesives And Binder Market segmentation
3.2 Wood Adhesives And Binder Market size, forecast and growth expectations, 2013 – 2024
3.3 Wood Adhesives And Binder 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
220.127.116.11. Robust growth in the construction industry
3.4.2. Industry pitfalls & challenges
18.104.22.168. Oscillating crude oil prices
22.214.171.124. 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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