Timber Laminating Adhesives Market Trend, Opportunity, and Forecast Analysis, 2024-2032

Timber Laminating Adhesives Market Highlights

The global timber laminating adhesives market is expected to cross a market size of USD 1559.9 million by the end of 2032. The market size was valued at USD 961.5 million in 2023 and is expected to expand at a CAGR of 7.1% between 2024-2032.

• Over the mid-term, the expanding construction sector is the primary factor anticipated to drive the global timber laminating adhesives market.
• The fluctuating price of raw materials is a major factor to challenge the market growth.
• The Asia Pacific timber laminating adhesives market is projected to dominate the global market.

Timber Laminating Adhesives Market Outlook

A type of adhesives that is specifically formulated for bonding timber or wood components together to create engineered wood products is known as timber laminating adhesive. These adhesives enhance the structural integrity and performance of the final product and also provide strong and durable bonds between the individual pieces of timber.

According to our experts at KD Market Insights, one of the major factors anticipated to drive the growth of the global timber laminating adhesives market is the expanding construction sector globally. Our researchers have found that the size of the global construction industry in the year 2023 was near to USD 13 trillion. Timber laminating adhesives are crucial for bonding timber components in engineered wood products as it helps to provide sustainability and structural advantages. With an increase in adoption of timber in several construction projects, the demand for these adhesives would also grow, which is expected to boost the market growth during the forecast period. TimberBond Solutions, LamiTech Adhesives, and WoodSecure Adhesives are some of the significant parties in the global market for timber laminating adhesives.

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Timber Laminating Adhesives Market Drivers – Analyst’s Observation

According to the analysts at KD Market Insights, some key growth drivers for the global timber laminating adhesives market are:

• Rapid Surge in Demand for Furniture: The global furniture market is expanding rapidly and so is the demand for furniture. According to our researchers, the revenue generated from the furniture industry globally is expected to reach USD 783.61 billion by 2032, registering a CAGR of close to 5.5% during the forecast period. With an increase in demand for furniture, the demand for timber laminating adhesives would also expand, which is projected to contribute to the market growth in the coming years.
• Increasing Focus on Green Building Materials: According to our experts, the buildings and construction sector is one of the largest emitter of greenhouse gases (GHGs), representing close to 40% of the global emissions. Owing to this environmental concern, regulatory bodies around the globe are increasingly adding on pressure to adopt green building materials. This has also driven the opportunities among adhesive manufacturers to develop eco-friendly adhesives, such as timber laminating adhesives, that has lower volatile organic compound (VOC) emissions and lower environmental impact. Thus, the increasing demand for sustainable building materials, backed by the growing environmental concerns, is predicted to contribute to the market growth.

Which Probable Factors Could Hamper the Growing Timber Laminating Adhesives Market Trend?

As per our KD Market Insights analysis, some of the challenges expected to limit the global market growth of timber laminating adhesives are:

• Fluctuating Price of Raw Materials: The prices of the raw materials used for manufacturing timber laminating adhesives often fluctuate frequently, impacting largely the cost of production among the adhesive manufacturers. This fluctuating cost is therefore expected to hamper the market growth massively.
• Complicated Testing and Certification Processes: Owing to the presence of stringent regulations and standards to govern the composition, performance and environmental impact associated with timber laminating adhesives, the manufacturers of these adhesives often need to adhere to extensive testing and certification processes, which raises the cost of product development, and ultimately, a higher final product cost. Such a factor is therefore expected to limit the market growth.

How is the Global Timber Laminating Adhesives Market Segmented?

Our experts at KD Market Insights have segmented the global timber laminating adhesives market research report as:

What are the Probable Factors Influencing the Asia Pacific Timber Laminating Adhesives Market Forecast?

The Asia Pacific timber laminating adhesives market is majorly driven by increasing number of construction activities in the region, driven majorly as a result of rapid urbanization, increasing disposable income, and growing focus of the governments of the region for building smart cities. Our researchers have found that expenditures on smart cities in the region grew by USD 17 billion between 2018 and 2021 and this is expected to grow further in the coming years. On the other hand, the region has been witnessing an upsurge in the adoption of prefabrication and modular construction techniques, which is also projected to drive the demand for timber laminating adhesives.

As per our analysts at KD Market Insights, the following five players lead the Asia Pacific timber laminating adhesives market growth:

• AsiaWood Adhesives
• PacificBond Solutions
• TimberTech Adhesives
• AsiaTimber Adhesive Industries
• PacificLam Adhesives

Which Key Players Top the Global Timber Laminating Adhesives Market Share?

As per our analysts at KD Market Insights, the competitive landscape of global timber laminating adhesives market facilitates our readers in identifying their closest competitors. The manufacturers who are associated with timber laminating adhesives market are raising their focus on expanding their presence, as well as their market share. The market has also been witnessing an upward movement in the number of collaborations between research institutions and key players, aimed at introducing advanced technologies and innovation of new products. Here is a list of the key players who top the global timber laminating adhesives market share:

• TimberBond Solutions
• LamiTech Adhesives
• WoodSecure Adhesives
• TimberGrip Industries
• Laminex Adhesives
• WoodLock Technologies
• TimberMate Adhesives
• GlulamBond Corporation
• WoodFusion Adhesives
• LVL Adhesive Systems
• TimberSeal Solutions
• CrossLam Adhesives

What are the Recent Developments Observed in the Timber Laminating Adhesives Market?

Over the years, the experts at KD Market Insights have been observing the recent developments associated with global timber laminating adhesives market trends. Our expert’s market forecast analysis has recorded the market players adopting plentiful of key strategies including new product launches, mergers & acquisitions, and collaborations.

For instance, Sika stated that it has acquired Mexico’s leading tiles adhesive and stucco manufacturer.

Further, Arkema stated that it would acquire one of the leaders in adhesive solutions for woodworking, packaging, construction, and DIY, known as Permoseal, in South Africa.