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A Complete Study On Wood Adhesive Market - 2016 TO 2022 By Knowledge Sourcing Intelligence

INTRODUCTION

 The Wood Adhesives market is estimated to grow at a CAGR of 3.94% over the forecast period, to reach a total market size of US$5.775 billion in 2022, increasing from US$4.580 billion in 2016. Rapid urbanization, coupled with the growing demand for furniture and plywood is majorly driving the market growth.

                      
Wood Adhesive Market Growth
The rapid pace of urbanization is creating significant opportunities for wood furniture and plywood vendors. The momentum is expected to pick up over the next few years on account of improving the economic scenario, resulting in increased spending towards wooden flooring, wood furniture, and plywood doors among others.
The presence of a vast number of small and large suppliers and low switching costs reduces the position of vendors in the market. Moreover, the availability of several substitutes like polymer also contributes to the dampened bargaining power of suppliers. The companies are trying to overcome these issues and maintain their market position through mergers and acquisitions and enhance their footprint and cater to a wide range of customers. Investments in research and development for the development of new adhesives with higher performance and which can help the companies in generating higher profit margins. 

Wood Adhesive Market GEOGRAPHY 

 Geographically, the market has been segmented into the Americas (North America and South America), Europe Middle East and Africa (Europe, and the Middle East and Africa), and the Asia Pacific. Among all the regions, the Asia-Pacific region is estimated to have a significant market share than all other regions and is also determined to show its dominance throughout the forecast period.

Europe
The European region was initially hit by the 2008 recession, with Greek debt and slow growth of economies adding to existing woes. The construction was one of the hardest-hit sectors due to the impact of the recession, leading to declining in demand for adhesive products during the subsequent years. With the economic activity picking up and construction sector starting to witness traction due to investment programs by various governments, the demand for wood adhesives is expected to grow moderately (but slowest among all the five regions) over the next six years. 

 The Brexit effect is yet to be accounted for, but its overall impact may not be negatively impacting market growth. Various government regulations are also favorable for producers who are manufacturing environmental friendly adhesives. Companies are focusing on research and development to promote nature-friendly adhesives and the ones with low volatile organic compound emissions.

European Commission has set several directives for many years for taking acts upon Volatile Organic Compound emissions, like Directive 94/63/EC and Council Directive 1999/13/EC.

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