Asia Pacific region likely to be the fastest growing timber laminating adhesives market.
Northbrook, IL 60062 -- (SBWIRE) -- 09/01/2023 -- report "Timber Laminating Adhesives Market by Resin type (MF, PRF, PU, EPI), Application (Floor Beams, Roof Beams, Window & Door Headers, Trusses & Supporting Columns), End - use (Residential, Nonresidential) and Region - Global Forecast to 2028", exhibits high growth potential and is projected to reach a market size of USD 1,331 million by 2028 from USD 957 million in 2023, at a CAGR of 6.8%. Europe is the one of the largest markets for timber laminating adhesives. The demand for timber laminating adhesives is increasing in the floor beam, roof beam, window & door header, and trusses & supporting column. The demand from developing nations, such as China, India, Brazil, and Argentina are expected to drive the global timber laminating adhesives market.
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Floor Beam, by application segment is expected to account largest share of the timber laminating adhesives market during the forecasted period.
Floor beam application accounts largest share of timber laminating adhesives market in terms of both value and volume in 2023. Timber laminating adhesives facilitate the creation of strong and lightweight floor beams that can support significant loads while offering design flexibility. This aspect is particularly appealing in various construction projects, including residential, commercial, and industrial buildings, where optimized structural performance and reduced construction weight are essential.
Advancements in adhesive technologies have played a significant role in driving the adoption of timber laminating adhesives for floor beam applications. Modern adhesives offer superior bonding strength, durability, and resistance to environmental factors, ensuring the long-term stability and safety of engineered timber floor beams. These innovations have bolstered the confidence of architects, engineers, and builders in using timber laminating adhesives in critical load-bearing applications.
Residential, by end-use industry segment hold the largest growing segment in overall timber laminating adhesives market during forecast period.
Residential end-use industry holds the largest share in terms of both value and volume in overall timber laminating adhesives market. The increasing emphasis on sustainable building practices is driving the demand for timber laminating adhesives in residential construction. Homeowners and construction professionals share a common interest in finding environmentally conscious options, and timber laminating adhesives offer a solution by enabling the production of engineered wood items. This helps decrease reliance on conventional materials that have greater carbon emissions. Timber laminating adhesives also contribute to efficient construction practices. Engineered wood components are pre-fabricated, allowing for quicker assembly and reduced on-site construction time. This can lead to cost savings and minimized disruption to homeowners during the construction process.
The increasing global population is directly contributing to a surge in demand for timber laminating adhesives within the residential construction sector. As urbanization intensifies and more people seek housing solutions, the residential construction sector faces mounting pressure to accommodate this population influx. Traditional construction materials may struggle to keep up with the pace of demand, prompting a shift towards innovative alternatives like timber laminating adhesives. These adhesives enable the creation of engineered wood products that can be rapidly manufactured off-site and assembled on-site, expediting construction processes to meet the escalating need for housing.
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Asia Pacific region likely to be the fastest growing timber laminating adhesives market during the forecast period.
The rapid urbanization and industrialization occurring across various countries in Asia-Pacific. As economies flourish and urban populations surge, there is an escalating demand for efficient construction solutions to accommodate this growth. Timber laminating adhesives offer a compelling alternative, as they enable the construction of durable and aesthetically pleasing structures while optimizing resources and construction time. The Asia-Pacific region's rapid urbanization, cultural affinity for timber, sustainability considerations, and the expanding middle class are all contributing to its position as the fastest-growing market for timber laminating adhesives. As these factors continue to converge, the demand for timber-based construction solutions in the region is expected to remain robust.
Henkel Ag (Germany), H.B. fuller (US), Arkema (France), Sika Ag (Switzerland), Dow Inc, (US), Ashland Inc. (US), are the key players in the global timber laminating adhesives market.