The Global Wood Adhesives Market is experiencing a substantial surge, projected to achieve a value of USD 5,887.1 million by the year 2023. This thriving industry anticipates a compound annual growth rate (CAGR) of 5.8% for the forecast period spanning from 2023 to 2032. The growth trajectory of this market is intrinsically linked to the escalating production of engineered wood panels.
Wood Adhesives: A Key Driver in Panel Manufacturing
Understanding the Market Growth
The increasing demand for engineered wood panels, such as oriented strand board, plywood, and particle board, is a major catalyst driving the surge in the wood adhesives sector. These panels require a substantial amount of adhesives in their manufacturing processes, playing a pivotal role in their structural integrity and versatility. For instance, plywood, a widely utilized wood panel, is crafted by bonding veneers using adhesives.
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