Wood Adhesives and Binders (Urea-formaldehyde, Melamine-urea-formaldehyde, Phenol-formaldehyde, Isocyanates, Soy-based and Others) Market for Cabinets, Flooring & Plywood, Furniture & Subcomponents, Windows & Doors, and Other Applications - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020
Albany, NY -- (SBWIRE) -- 04/20/2015 -- Wood adhesives and binders find applications in cabinets, furniture and sub-components, windows and doors, flooring and plywood, and others such as DIY consumer products and crafts. The demand for these furniture and wood-related applications is fueled by the construction industry. This makes the growing construction industry the primary driving force behind the global wood adhesives and binders market.
Accelerating Demand from Asia-Pacific to Fuel Wood Adhesives and Binders Market
According to market analysts, the global construction industry will expand at a strong CAGR during the coming five years. This industry is benefiting from the booming construction markets of China and India. The demand for wood adhesives and binders from these Asia-Pacific countries is contributing to the growth of the industry.Asia Pacific is one of the most lucrative emerging markets for construction chemicals and sub-market such as wood adhesives and binders. In 2013, China emerged as the leading consumer of construction chemicals and held over 42% of the global chemicals market share in 2013. The flourishing construction industry in Asia Pacific is boosting the demand for wood products every year. This in turn has lead to the rise in demand for wood adhesives and binders, especially for structural bonding applications.In addition to China and India, the demand for wood adhesives, binders, and other construction chemicals is rapidly growing in Japan.
Increasing Construction in the Middle East Propelling Demand
The construction industry in the Middle East is demonstrating a strong upward growth. This region is expected to boost the overall construction chemicals market in the coming few years, which in turn will contribute to the growth of the wood adhesives and binders market. According to a market research company, countries such as Saudi Arabia, Qatar, and UAE will demonstrate a strong CAGR in the next five years.
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Environmental Concerns in Europe Promoting Use of Safer Wood Adhesives and Binders
The overall construction industry in developed regions such as Europe and North America is saturated. However, this does not hold entirely true when it comes to the wood adhesives and binders market. Used to maintain old structures, wood adhesives and binders have been contributing to improve the European and North American construction industry. In 2013, the North American region was the largest consumer of wood adhesives and binders and held approximately 33% of the total global market volume.
A new trend for environmentally safer bio-based wood adhesives and binders can be noticed in these markets. Environmental benefits in combination with growing government initiatives in these regions are predicted to boost the demand for bio-based wood adhesives and binders. Bio-based wood binders and adhesives are capable of competing with petroleum-based products available in the market.
Market players are investing in research projects to develop new wood adhesives and binders that have low-VOCs emission rates. Regulatory authorities such as REACH (Registration, Evaluation, Authorisation and Restriction of Chemicals) in Europe and USEPA (United States Environment Protection Agency) have placed strict regulations against the use of environmentally harmful chemicals to strengthen the conservation of the environment. Some of the most established companies in the wood adhesives and binders market are 3M Company, Dow Chemical Company, H.B. Fuller Co., Henkel AG & Co.KGaA, Bostik SA, and BASF SE.
Companies in this market are focusing on providing eco-friendly wood adhesives and binders by reducing carbon emissions and these bio-based products are cheaper compared to their chemical counterparts. Currently, wood adhesives and binders are prepared using a host of chemicals, which include melamine-urea-formaldehyde, epoxy, silicones, urea-formaldehyde, isocyanates, phenol-formaldehyde resins, polyurethanes, and polyvinyl acetate. On the other hand, bio-wood adhesives and binders are made using vegetable oils, starch, and soy.
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