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 wood adhesives.
Currently, the North America region is reported as the largest for the composite adhesives market, in terms of both value and volume with the U.S.
The market was valued at $1.13 billion in 2016 and is projected to reach $1.78 billion by 2022, at a compound annual growth rate (CAGR) of 7.9% from 2017 to 2022.
The market is projected to grow from $1.57 billion in 2017 to $2.38 billion by 2022.
Reportedly, the usability of these adhesive in several end-use applications, coupled with the rising demand for instant adhesive, is estimated to boost the demand for instant adhesive in the near future.