Wood Adhesives Market Is Likely To Up Demand At A USD 12.52 Billion By 2030
San Francisco, 21 March 2024: The Report Wood Adhesives Market Size, Share & Trends Analysis Report By Product (Urea-Formaldehyde, Soy-based), By Application, By Substrate, By Region, And Segment Forecasts, 2024 - 2030 The global wood adhesives market size is anticipated to reach USD 12.52 billion by 2030 and is projected to grow at CAGR of 8.6% from 2024 to 2030, as per the new report by Grand View Research, Inc. The increasing demand from engineered wood-based panel manufacturers is a significant driver of the market. Adhesives are a preferred choice for binding wood strips, chips, fibers, strands, and veneers for manufacturing engineered wood-based panels such as plywood, particle board, oriented strand board, medium density fiberboard, and high density fiberboards. Increasing population and rapid urbanization accompanied with the government efforts to boost residential construction are likely to propel the demand for wood-based panels, which in turn is expected to support