North America Wood Adhesives Market Report 2021-2031 by Scope, Segmentation, Dynamics, and Competitive Analysis

Description

List of Tables

The North America wood adhesives market is projected to grow significantly, reaching approximately US$ 1,753.23 million by 2031, up from US$ 1,229.78 million in 2023, reflecting a compound annual growth rate (CAGR) of 4.5% during the forecast period from 2023 to 2031.

Executive Summary and Market Analysis

The demand for wood adhesives in North America is on the rise, primarily driven by increased spending on the renovation and remodeling of aging housing structures. The American Institute of Architects (AIA) reported that in 2022, a substantial portion of architecture firm billings was attributed to renovation projects. With many homes in the region being nearly two decades old, consumers are investing in upgrades. The Joint Center for Housing Studies at Harvard University (JCHS) noted that American home improvement expenditures reached around US$ 472 billion in 2022. Wood adhesives play a crucial role in various construction applications, including kitchen cabinets, plywood, and wood flooring, thus benefiting from the surge in renovation activities.

Market Segmentation Analysis

The North America wood adhesives market can be segmented based on resin type, technology, and application:

Resin Type: The market is divided into natural and synthetic resins, with synthetic resins dominating the market share in 2023.
Technology: The market is categorized into solvent-based, water-based, and other technologies, with water-based adhesives holding the largest market share in 2023.
Application: Key applications include furniture, plywood, flooring, doors and windows, among others, with furniture being the leading segment in 2023.

Market Outlook

Wood adhesives are essential in the production of various engineered wood products such as plywood, particleboards, and medium-density fiberboards, which are utilized in structural applications like doors, flooring, and cabinets. The growth in home renovations is influenced by several factors, including the desire to modernize homes, address maintenance concerns, and enhance property resale value. As the housing market expands, driven by population growth, urbanization, and favorable economic conditions, the demand for wood-based building materials, including flooring and windows, is also increasing.

For instance, Redfin reported that in January 2024, the number of homes sold in the US rose to 284,121, marking a 1.8% increase compared to January 2023. Additionally, residential construction saw a notable rise, reaching a seasonally adjusted annual rate of US$ 856.3 billion in June 2023, up 0.9% from the previous month. The Canadian government also initiated the Housing Accelerator Fund, allocating US$ 2.96 billion to support the construction of at least 100,000 homes, further stimulating the demand for wood adhesives in construction and renovation projects.

Country Insights

The North America wood adhesives market includes the US, Canada, and Mexico, with the US holding the largest market share in 2023. The growth of the construction and furniture sectors, along with a shift towards sustainable building materials, has significantly contributed to the expansion of the wood adhesives market in the US. The increasing investment in renovation and remodeling of older homes has further fueled the demand for wood adhesives.

Company Profiles

Key players in the wood adhesives market include Henkel AG & Co KGaA, 3M Co, Sika AG, Arkema SA, Dow Inc, H.B. Fuller Company, Akzo Nobel NV, Aica Kogyo Co. Ltd, Pidilite Industries Ltd, Mapei SpA, Jubilant Industries Ltd, Franklin International, Jowat SE, STAUF Klebstoffwerk GmbH, RPM International Inc, Huntsman Corp, Follmann GmbH and Co KG, Bolton Group S.r.l, Wacker Chemie AG, and IFS Industries Inc. These companies are employing various strategies such as market expansion, product innovation, and mergers and acquisitions to enhance their product offerings and increase market share.

Product Code: BMIRE00032136

1. Introduction

1.1 Report Guidance
1.2 Market Segmentation

2. Executive Summary

2.1 Key Insights
2.2 Market Attractiveness

3. Research Methodology

3.1 Secondary Research
3.2 Primary Research
- 3.2.1 Hypothesis formulation:
- 3.2.2 Macro-economic factor analysis:
- 3.2.3 Developing base number:
- 3.2.4 Data Triangulation:
- 3.2.5 Country level data:

4. North America Wood Adhesives Market Landscape

4.1 Overview
4.2 Porter's Five Forces Analysis
- 4.2.1 Bargaining Power of Suppliers
- 4.2.2 Bargaining Power of Buyers
- 4.2.3 Threat of New Entrants
- 4.2.4 Intensity of Competitive Rivalry
- 4.2.5 Threat of Substitutes
4.3 Ecosystem Analysis
- 4.3.1 Raw Material Suppliers
- 4.3.2 Wood Adhesives Manufacturers
- 4.3.3 Distributors/Suppliers
- 4.3.4 End Use
- 4.3.5 List of Vendors in the Value Chain
4.4 Average Selling Price, by Resin Type, 2023
4.5 Import - Export Analysis of Key Countries, 2023

5. North America Wood Adhesives Market - Key Market Dynamics

5.1 Market Drivers
- 5.1.1 Growth of the Global Furniture Industry
- 5.1.2 Rising Application of Wood Adhesives in Home Renovation and Construction Activities
5.2 Market Restraints
- 5.2.1 Fluctuations in Raw Material Prices
5.3 Market Opportunities
- 5.3.1 Strategic Research Initiatives Associated with Wood Adhesives
5.4 Future Trends
- 5.4.1 Development of Sustainable and Eco-Friendly Wood Adhesives
5.5 Impact of Drivers and Restraints:

6. Wood Adhesives - North America Market Analysis

6.1 North America Wood Adhesives Market Volume (Kilo Tons), 2021-2031
6.2 North America Wood Adhesives Market Volume Forecast and Analysis (Kilo Tons)
6.3 North America Wood Adhesives Market Revenue (US$ Million), 2023-2031
6.4 North America Wood Adhesives Market Forecast and Analysis

7. North America Wood Adhesives Market Volume and Revenue Analysis - by Resin Type

7.1 Natural
- 7.1.1 Overview
- 7.1.2 Natural: North America Wood Adhesives Market - Volume and Forecast, 2021-2031 (Kilo Tons)
- 7.1.3 Natural: North America Wood Adhesives Market - Revenue and Forecast, 2021-2031 (US$ Million)
7.2 Synthetic
- 7.2.1 Overview
- 7.2.2 Synthetic: North America Wood Adhesives Market - Volume and Forecast, 2021-2031 (Kilo Tons)
- 7.2.3 Synthetic: North America Wood Adhesives Market - Revenue and Forecast, 2021-2031 (US$ Million)

8. North America Wood Adhesives Market Revenue Analysis - by Technology

8.1 Solvent-based
- 8.1.1 Overview
- 8.1.2 Solvent-based: North America Wood Adhesives Market - Revenue and Forecast, 2021-2031 (US$ Million)
8.2 Water-based
- 8.2.1 Overview
- 8.2.2 Water-based: North America Wood Adhesives Market - Revenue and Forecast, 2021-2031 (US$ Million)
8.3 Others
- 8.3.1 Overview
- 8.3.2 Others: North America Wood Adhesives Market - Revenue and Forecast, 2021-2031 (US$ Million)

9. North America Wood Adhesives Market Revenue Analysis - by Application

9.1 Furniture
- 9.1.1 Overview
- 9.1.2 Furniture: North America Wood Adhesives Market - Revenue and Forecast, 2021-2031 (US$ Million)
9.2 Plywood
- 9.2.1 Overview
- 9.2.2 Plywood: North America Wood Adhesives Market - Revenue and Forecast, 2021-2031 (US$ Million)
9.3 Flooring
- 9.3.1 Overview
- 9.3.2 Flooring: North America Wood Adhesives Market - Revenue and Forecast, 2021-2031 (US$ Million)
9.4 Doors and Windows
- 9.4.1 Overview
- 9.4.2 Doors and Windows: North America Wood Adhesives Market - Revenue and Forecast, 2021-2031 (US$ Million)
9.5 Others
- 9.5.1 Overview
- 9.5.2 Others: North America Wood Adhesives Market - Revenue and Forecast, 2021-2031 (US$ Million)

10. North America Wood Adhesives Market - Country Analysis

10.1 North America
- 10.1.1 North America Wood Adhesives Market Revenue and Forecast and Analysis - by Country
  - 10.1.1.1 North America Wood Adhesives Market Volume and Forecast and Analysis - by Country
  - 10.1.1.2 North America Wood Adhesives Market Revenue and Forecast and Analysis - by Country
  - 10.1.1.3 United States: North America Wood Adhesives Market - Revenue and Forecast, 2021-2031 (US$ Million)
    - 10.1.1.3.1 United States: North America Wood Adhesives Market Share - by Resin Type
    - 10.1.1.3.2 United States: North America Wood Adhesives Market Share - by Technology
    - 10.1.1.3.3 United States: North America Wood Adhesives Market Share - by Application
  - 10.1.1.4 Canada: North America Wood Adhesives Market - Revenue and Forecast, 2021-2031 (US$ Million)
    - 10.1.1.4.1 Canada: North America Wood Adhesives Market Share - by Resin Type
    - 10.1.1.4.2 Canada: North America Wood Adhesives Market Share - by Technology
    - 10.1.1.4.3 Canada: North America Wood Adhesives Market Share - by Application
  - 10.1.1.5 Mexico: North America Wood Adhesives Market - Revenue and Forecast, 2021-2031 (US$ Million)
    - 10.1.1.5.1 Mexico: North America Wood Adhesives Market Share - by Resin Type
    - 10.1.1.5.2 Mexico: North America Wood Adhesives Market Share - by Technology
    - 10.1.1.5.3 Mexico: North America Wood Adhesives Market Share - by Application

11. Competitive Landscape

11.1 Heat Map Analysis by Key Players
11.2 Company Positioning and Concentration

12. Industry Landscape

12.1 Overview
12.2 Merger and Acquisition
12.3 Collaboration
12.4 Expansion
12.5 New Product Launch

13. Company Profiles

13.1 Henkel AG & Co KGaA
- 13.1.1 Key Facts
- 13.1.2 Business Description
- 13.1.3 Products and Services
- 13.1.4 Financial Overview
- 13.1.5 SWOT Analysis
- 13.1.6 Key Developments
13.2 3M Co
- 13.2.1 Key Facts
- 13.2.2 Business Description
- 13.2.3 Products and Services
- 13.2.4 Financial Overview
- 13.2.5 SWOT Analysis
- 13.2.6 Key Developments
13.3 Sika AG
- 13.3.1 Key Facts
- 13.3.2 Business Description
- 13.3.3 Products and Services
- 13.3.4 Financial Overview
- 13.3.5 SWOT Analysis
- 13.3.6 Key Developments
13.4 Arkema SA
- 13.4.1 Key Facts
- 13.4.2 Business Description
- 13.4.3 Products and Services
- 13.4.4 Financial Overview
- 13.4.5 SWOT Analysis
- 13.4.6 Key Developments
13.5 Dow Inc
- 13.5.1 Key Facts
- 13.5.2 Business Description
- 13.5.3 Products and Services
- 13.5.4 Financial Overview
- 13.5.5 SWOT Analysis
- 13.5.6 Key Developments
13.6 H.B. Fuller Company
- 13.6.1 Key Facts
- 13.6.2 Business Description
- 13.6.3 Products and Services
- 13.6.4 Financial Overview
- 13.6.5 SWOT Analysis
- 13.6.6 Key Developments
13.7 Akzo Nobel NV
- 13.7.1 Key Facts
- 13.7.2 Business Description
- 13.7.3 Products and Services
- 13.7.4 Financial Overview
- 13.7.5 SWOT Analysis
- 13.7.6 Key Developments
13.8 Aica Kogyo Co. Ltd
- 13.8.1 Key Facts
- 13.8.2 Business Description
- 13.8.3 Products and Services
- 13.8.4 Financial Overview
- 13.8.5 SWOT Analysis
- 13.8.6 Key Developments
13.9 Pidilite Industries Ltd
- 13.9.1 Key Facts
- 13.9.2 Business Description
- 13.9.3 Products and Services
- 13.9.4 Financial Overview
- 13.9.5 SWOT Analysis
- 13.9.6 Key Developments
13.10 Mapei SpA
- 13.10.1 Key Facts
- 13.10.2 Business Description
- 13.10.3 Products and Services
- 13.10.4 Financial Overview
- 13.10.5 SWOT Analysis
- 13.10.6 Key Developments
13.11 Jubilant Industries Ltd
- 13.11.1 Key Facts
- 13.11.2 Business Description
- 13.11.3 Products and Services
- 13.11.4 Financial Overview
- 13.11.5 SWOT Analysis
- 13.11.6 Key Developments
13.12 Franklin International
- 13.12.1 Key Facts
- 13.12.2 Business Description
- 13.12.3 Products and Services
- 13.12.4 Financial Overview
- 13.12.5 SWOT Analysis
- 13.12.6 Key Developments
13.13 Jowat SE
- 13.13.1 Key Facts
- 13.13.2 Business Description
- 13.13.3 Products and Services
- 13.13.4 Financial Overview
- 13.13.5 SWOT Analysis
- 13.13.6 Key Developments
13.14 STAUF Klebstoffwerk GmbH
- 13.14.1 Key Facts
- 13.14.2 Business Description
- 13.14.3 Products and Services
- 13.14.4 Financial Overview
- 13.14.5 SWOT Analysis
- 13.14.6 Key Developments
13.15 RPM International Inc
- 13.15.1 Key Facts
- 13.15.2 Business Description
- 13.15.3 Products and Services
- 13.15.4 Financial Overview
- 13.15.5 SWOT Analysis
- 13.15.6 Key Developments
13.16 Huntsman Corp
- 13.16.1 Key Facts
- 13.16.2 Business Description
- 13.16.3 Products and Services
- 13.16.4 Financial Overview
- 13.16.5 SWOT Analysis
- 13.16.6 Key Developments
13.17 Follmann GmbH and Co KG
- 13.17.1 Key Facts
- 13.17.2 Business Description
- 13.17.3 Products and Services
- 13.17.4 Financial Overview
- 13.17.5 SWOT Analysis
- 13.17.6 Key Developments
13.18 Bolton Group S.r.l
- 13.18.1 Key Facts
- 13.18.2 Business Description
- 13.18.3 Products and Services
- 13.18.4 Financial Overview
- 13.18.5 SWOT Analysis
- 13.18.6 Key Developments
13.19 Wacker Chemie AG
- 13.19.1 Key Facts
- 13.19.2 Business Description
- 13.19.3 Products and Services
- 13.19.4 Financial Overview
- 13.19.5 SWOT Analysis
- 13.19.6 Key Developments
13.20 IFS Industries Inc
- 13.20.1 Key Facts
- 13.20.2 Business Description
- 13.20.3 Products and Services
- 13.20.4 Financial Overview
- 13.20.5 SWOT Analysis
- 13.20.6 Key Developments

14. Appendix

14.1 About The Insight Partners