Wood adhesives market set to reach $33.68 billion by 2024, growing at a CAGR of 7.2 per cent between 2017 and 2024
Growth opportunities in the global wood adhesives market look promising over the next six years. Frost & Sullivan’s recent analysis, Global Wood Adhesives Market, Forecast to 2024, reveals that the market is expected to witness significant growth rates due to rising volume demand for wood adhesive applications in the furniture and building and construction industries, particularly in high-growth economies such as China, India, and Southeast Asia. The market is forecast to reach $33.68 billion by 2024, growing at a CAGR of 7.2 per cent between 2017 and 2024.
“While reuglatory requirements are pushing high demand for resin chemistries, there is a growing need for adhesive technologies with niche applications,” said Ganesh Dabholkar, Senior Research Analyst, Visionary Science at Frost & Sullivan. “Manufacturers who focus on developing zero and ultra-low formaldehyde- and volatile organic compounds (VOC)-emitting resin chemistries will secure preferential customer purchase and lucrative revenue prospects.”