Wood Adhesives Market Size, Share, Industry, Forecast and outlook (2024-2031)

Global Wood Adhesives Market reached USD 4.3 billion in 2022 and is expected to reach USD 5.8 billion by 2031, growing with a CAGR of 5.4% during the forecast period 2024-2031. Many of the primary factors driving the wood adhesives market are the increasing usage of the adhesive during the production process of engineered wood-based panels such as oriented strand board, particle board and plywood made by binding veneers with glue.

Wood adhesives market growth is accelerated by the rise in demand for eco-friendly and green furniture, rising public concern over the destruction of forests and global warming and the increasing demand for engineered wood-based panels.

Asia-Pacific is among the growing regions in the global wood adhesives market covering more than 1/3rd of the market owing to the expanding quickly both in Asia-Pacific and worldwide due to rising demand from China and India. Along with that, the region's industrial operations are also expanding as a result of rising income levels, a move towards nuclear families, low lending rates and evolving lifestyles. Owing to the growth of building taking place in these developing economies, such as Brazil, China, India and Indonesia, wood adhesives are in high demand.