TAGS: Polyurethane Adhesives
Markets and Markets (M&M) anticipates that the global engineered wood adhesives market size is projected to grow from USD 8.7 billion in 2024 to USD 10.5 billion, at a CAGR of 3.7%. The engineered wood adhesives market is poised for growth, primarily driven by the anticipated rise in sustainable building and construction activity over the next five years.
Structural vs Non-structural Applications in Wood Products
The adhesives used in these applications fall into two primary categories: structural and non-structural. Structural adhesives, such as phenolic (phenol-formaldehyde or PF), resorcinol, phenol-resorcinol, polymeric diphenylmethane diisocyanate (MDI), and polyurethane, provide essential moisture resistance and immediate structural strength post-manufacture.
These are critical for products that must withstand environmental stress, such as OSB, plywood, and glulam. In contrast, non-structural adhesives are typically used in applications where aesthetic considerations are paramount but structural integrity is not compromised. Examples include adhesives used in panelized floor and wall systems, as well as in various decorative and non-structural applications within both residential and commercial buildings.
Melamine Formaldehyde Segment is Estimated to Account for Highest CAGR
The performance of melamine formaldehyde (MF) in engineered wood products is notable. It provides excellent resistance to solvents, acids, and bases, which makes it a preferable choice in chemically challenging environments. Additionally, the mechanical strength it imparts to bonded structures is critical for maintaining durability and integrity under physical stress. Manufacturing processes involving MF require controlled application of heat and pressure to facilitate effective curing, which is crucial for achieving optimal bond strength and stability.
However, the use of MF is not without concerns. The formaldehyde component of the resin poses significant health risks, as it is a known carcinogen. Regulations such as those from the U.S. Environmental Protection Agency (EPA) and European Union directives have tightened standards on formaldehyde emissions from wood products, pushing manufacturers to develop lower-emitting MF formulations. Advances in technology are also focusing on enhancing the resin's properties through modifications in catalysts and hardeners, aiming to reduce emissions further and shorten curing times.
Enhance Performance in Plywood Manufacturing
Plywood's engineered composition, characterized by its layered veneer and robust adhesives, provides a material that is not only structurally sound and versatile but also adaptable to a wide array of applications. Its ability to perform under a spectrum of environmental conditions and its availability in multiple grades and sizes underscore its enduring relevance and reliability in the construction industry. Whether for high-stress applications like marine environments or aesthetic interior design work, plywood offers a dependable, cost-effective solution.
Engineered wood adhesives are integral to the plywood manufacturing process, affecting everything from the mechanical properties and durability of the final product to its environmental impact. The development and refinement of these adhesives continue to be a critical area of focus in the wood products industry, aiming to enhance performance while addressing environmental and health concerns.
Highest Growth in Asia Pacific Region
The Asia Pacific territory is witnessing substantial advancement in the engineered wood adhesives sector, propelled by its expansive industrial landscape and surging requirements for sophisticated adhesives technologies. Highlighted by its leading position in the market's value in 2022, forecasts suggest this region will see the most rapid annual growth rate from 2024 to 2029.
Within this sphere, China, Japan, and Thailand stand out as key contributors, with China taking the forefront due to its extensive manufacturing base and heightened demand for premium adhesives features.
Despite economic hurdles, the construction arena in Asia Pacific achieved notable expansion in 2023, with a steady demand for housing projects in major economies and amplified funding in infrastructure development. Additionally, construction firms across the region are venturing into new territories, boosting the need for engineered wood adhesives. This dynamic underscores the Asia Pacific's critical role as an epicenter of innovation and expansion in the global engineered wood adhesives market.
Source: Markets and Markets (M&M)