Rising construction and infrastructural activities in North America is going to escalate Industrial Wood Adhesives Market Growth

According to our latest market study on “North America and Latin America Industrial Wood Adhesives Market Forecast to 2027 – Covid-19 Impact and Analysis - By Resin Type (Natural and Synthetic), and Technology (Solvent-Based, Water-Based, Solventless, and Others),” the market was valued at US$ 1270.73 million in 2019 and is projected to reach US$ 1792.78 million by 2027; it is expected to grow at a CAGR of 4.5% from 2020to 2027.The report highlights key factors driving the market growth and prominent players along with their developments in the market.

Wood adhesives are polymeric materials capable of interacting chemically or physically, or both, with the surface of the wood so that stresses are transferred between bonded members. The wood adhesive is used to manufacture building materials such as plywood and other laminated veneer products, oriented strandboard, particleboard, laminated beams and timbers, fiberboard, edge- and end jointed products, architectural doors, windows and frames, furniture, floor coverings, ceiling, and wall tiles, and others. The rapidly expanding construction industry is increasing the application of wood, thereby creating scope for industrial wood adhesives.

The North American region has been witnessing substantial growth in construction activities. As per the Associated General Contractors of America, Inc., the construction spending of public and private sectors in the U.S registered USD 1.329 trillion during 2018. The rapid development of metropolitan cities is augmenting the demand for commercial construction projects. Commercial buildings include stores, offices, hotels, resorts, schools, gymnasiums, libraries, museums, hospitals, clinics, and others. The design and construction of commercial buildings impact environmental quality and worker productivity. It is considered that attractive and pleasant working places increase the productivity of the employees. Hence, office spaces are highly using wooden materials to impart an aesthetic appearance. Moreover, the expansion of the tourism sector in North America is further contributing to commercial construction activities. Foodservices and lodging are estimated as the top two spending categories by domestic and international travelers. Traveler spending on lodging, including vacation homes and campgrounds, hotels/motels/B&B reached USD 242 billion. Therefore, the hotels and resorts construction in the U.S. is witnessing tremendous growth. To gain customer attraction and provide aesthetic beauty, hotels are constructed with wooden floorings, windows, doors, and furniture. Also, tourists are highly attracted to hotels and resorts constructed entirely with wood. Besides aesthetic beauty, wood has various qualities such as environmental friendliness and safety for human health. Wood has low thermal conductivity; hence even in a cold climate, it will always be warm inside a wooden building. Thus, the rising construction activities, as well as increased utilization of wooden products in the buildings, is augmenting the growth of the industrial wood adhesives market.

H.B.Fuller Company, Henkel AG & Company, KGAA, Ashland, Arkema Group, Sika AG, Pidilite Industries Ltd, Jubilant Industries Ltd, Dow, Inc., 3M, and Akzo Nobel N.V are among the well-established players in the North America and Latin America industrial wood adhesives market.

Impact of COVID-19 Pandemic on Industrial wood adhesives Market

COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. As of December 2020, US, Brazil, India, Russia, Spain and UK are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Food and beverage is one the world’s major industries suffering serious disruptions such as supply chain breaks, technology events cancellations, and office shutdowns as a result of this outbreak. For instance, China is the global hub of manufacturing and largest raw material supplier for various industries and it is also one of the worst affected countries. The lockdown of various plants and factories in China is affecting the global supply chains and negatively impacting the manufacturing, delivery schedules, and sales of various materials. Various companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia, and North America are affecting the business collaborations and partnerships opportunities. All these factors are anticipated to affect the industries in a negative manner and thus act as restraining factor for the growth of various markets related to this industry in the coming months.

The report includes the segmentation of the North America and Latin America Industrial wood adhesives market as follows:

• Natural
• Synthetic

• Solvent-based
• Water-based
• Solventless
• Others

North America and Latin America Industrial wood adhesives Market – by Country

• North America
  • US
  • Canada
  • Mexico
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

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