Housing Market Recovery Prompting Wood Adhesives Market Growth
The demand for timber furniture and plywood building materials has risen significantly.
Recovery in the global housing market and increasing consumer spending on luxury furniture and home décor has prompted higher investments in lightweight and convenient bonding materials such as wood adhesives, according to Research and Markets’ report "Wood Adhesives Market Analysis by Product (urea-formaldehyde, melamine urea, phenol-formaldehyde, isocyanate, polyurethane, PVA, soy-based), by Application (flooring, furniture, doors and windows), and Segment Forecasts, 2014-2025" report to their offering.
Reportedly, the demand for timber furniture and plywood building materials has risen significantly, owing to their high aesthetic appeal and compatibility with numerous substrates. This, in turn, has driven investments in superior processing and bonding technologies to foster mass production and meet growing global demand.
The report aslo suggests adhesives have replaced conventional bonding materials such as metal fasteners due to their ease of process ability, faster curing time and relative low production costs. Conventional glues formulated using synthetic chemicals such as formaldehyde are increasingly being substituted with sustainable alternatives based on organic sources, which has contributed to industry growth in recent years.
Urea-formaldehyde products are expected to retain their dominance owing to their highly durable nature after setting and hardening. The product occupied over 40% of the volume share in 2015 and is forecasted to grow at 4.4% compound annual growth rate from 2016 till 2025.
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