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Timber Laminating Adhesives Market Size
- Report ID: GMI8839
- Published Date: Apr 2024
- Report Format: PDF
Timber Laminating Adhesives Market Size
Timber Laminating Adhesives Market was valued at around USD 957 million in 2023 and is anticipated to register a CAGR of over 6.8% between 2024 and 2032. The industry has witnessed steady growth in recent years, driven by various factors including the expanding construction and furniture industries, alongside increasing awareness regarding sustainable and eco-friendly materials.
With the construction sector witnessing a surge in demand for engineered timber products, laminating adhesives play a crucial role in enhancing the structural integrity and performance of these materials. Moreover, the furniture industry's inclination towards laminated timber for its versatility and aesthetic appeal further fuels market growth. Additionally, advancements in adhesive technologies, such as the development of formaldehyde-free and low-VOC (volatile organic compound) adhesives, cater to the growing demand for environmentally friendly solutions. Thus, the timber laminating adhesives industry growth is expected to attain a market value of over USD 1.67 billion by 2032.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| Timber Laminating Adhesives Market Size in 2023: | USD 957 million |
| Forecast Period: | 2024 to 2032 |
| Forecast Period 2024 to 2032 CAGR: | 6.8% |
| 2032 Value Projection: | USD 1.67 billion |
| Historical Data for: | 2018 – 2023 |
| No. of Pages: | 300 |
| Tables, Charts & Figures: | 250 |
| Segments covered: | Resin type, Application, End user |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Furthermore, the market is characterized by intense competition among key players striving to innovate and introduce novel adhesive formulations to meet evolving industry requirements. However, challenges such as volatile raw material prices and stringent regulations regarding adhesive emissions pose significant hurdles to market expansion. Overall, with the construction and furniture sectors continuing to flourish, coupled with ongoing research and development efforts towards sustainable adhesive solutions, the market is expected to maintain its upward trajectory in the foreseeable future.
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Timber Laminating Adhesives Market Scope
