The timber laminating adhesives market size was USD 650 million in 2020 and is projected to reach USD 1,047 million by 2026, at a CAGR of 8.1%. Growing demand from the re-modeling and renovation industry in Europe and North America is likely to boost the timber laminating adhesives market. Melamine (urea) formaldehyde (MF & MUF) resin is produced by the polymerization and condensation of melamine, a trimer of dicyandiamide and formaldehyde with or without the presence of an acid catalyst.
MF resins are more water- and heat-resistant than urea formaldehyde (UF) resins; therefore they are used in exterior applications. MF resins are stain-resistant and remain unaffected by various strong solvents. MF resins are costlier than UF resins; hence their applications are limited in low-cost particle boards and plywood. They are used as timber laminating adhesives in plywood, medium-density fiberboard (MDF), and particle boards to provide them with mechanical and chemical resistance when required for exterior applications.
The key market players are Henkel AG (Germany), 3M Company(U.S), Arkema (Bostik), AkzoNobel N.V. (Netherlands), , Sika AG (Switzerland). These players have adopted various strategies, such as merger & acquisition, investment & expansion, new product launch, partnership & agreement to grow in the market. Merger & acquisition was the key strategy adopted by the major players between 2017 and 2021
