The rapid development of the building sector in the emerging nations of the Asia Pacific area is one of the key factors boosting demand for wood adhesives globally. A large increase in demand for wood adhesives is anticipated throughout the projected period as a result of the housing sector's quick recovery as well as commercial and infrastructural construction. The rise in disposable income has greatly increased consumer spending on luxury furnishings and home decor, which is anticipated to drive the worldwide wood adhesives market.
The market for Wood Adhesives is anticipated to reach US$12,375.6 million by 2030 and grow at a CAGR of 6.57% from 2022 to 2030.
Key Companies in the Wood Adhesives Industry:
1. Henkel AG & Co. KGaA: Laundry, home care, including the Persil and Purex laundry detergent brands, and beauty care, including the Schwarzkopf brand for hair care and the Dial brand for hand soap, are all included in the consumer segment. Built in 1876. Headquarters in Germany's Dusseldorf. 23 acquisitions and 9 investments have been made by Henkel. Over $8.48 billion has been spent by the corporation on acquisitions. Henkel has made investments in a variety of fields, including nanotechnology, chemical technology, beauty technology, and more.
2. Sika AG: Sika AG produces and markets goods based on specialised chemicals. The construction sector accounts for the lion's share of the business's revenue. Sika's products are primarily utilised in the building and automotive industries for bonding, sealing, dampening, strengthening, and protecting. Established in 1910. Headquarters in Switzerland in Baar. A legally binding deal to buy MBCC Group (formerly BASF Construction Chemicals) was inked by Sika in November 2021.
3. The 3M Company: Developer of technological platforms for nonwoven materials, nanotechnology, surface modification, light management, microreplication, and adhesives. American Saint Paul serves as the headquarters. Acelity (May 2019), MModal (Dec 2018), and Scott Safety (Oct 2017) are the most recent acquisitions.
4. Arkema: A French chemical company called Arkema was historically well-known for dominating the global acrylics market. But the business now has a substantial portfolio of speciality materials. There are four sections to Arkema. The more specialised material firms are found in adhesive solutions, innovative materials, and coatings solutions. Established in 2004. Headquarters at France's Colombes. The acquisition of Permoseal, a pioneer in adhesive solutions for DIY, packaging, and construction, by Arkema was completed in South Africa.
5. HB Fuller: H.B. Fuller Co produces and markets chemical-based goods like adhesives, sealants, and other things. Three business divisions make up the organisation of the company: constructions, engineering, and hygiene, health, and consumable adhesives. Established in 1887. American Saint Paul serves as the headquarters. The largest independent producer of liquid adhesives, coatings, and primers for the roofing, industrial, and construction markets in the United Kingdom, Apollo, was officially purchased by H.B. Fuller Company today.
6. Bostik SA: In Colombes, France, Bostik produces sealants and adhesives for various products. The business creates, produces, and sells adhesives and sealants for use in construction, industry, and retail. Its products are utilised in anything from furniture and diapers to structures and petrol tankers. Established in 1889. Head office in France's Colombes. Arkema, the parent firm, completes the purchase of Ashland's performance adhesives division.
Definition: Wood adhesives aim to bond wooden materials with each other or with different materials.
