This paper addresses strengths, weaknesses, opportunities, and threats of the wood adhesives industry as discussed at the International Conference on Wood Adhesives in May 2022. The authors have organized the points made during the discussion and added further facts, assumptions, and conclusions to provide context and perspective, even surpassing the outcome of the discussion. The biggest themes of the discussion were the unprecedented opportunity for adhesives to enable forest products to supply society's surging demand for renewable materials and the challenges in meeting those demands. We see excellent opportunities for wood-based panels and with this, for wood adhesives. The abundant challenges to bio-based adhesives for wood products are highlighted by the large amount of research and commercial effort compared with the small volumes of bio-based adhesives in use. Other threats to the adhesive and bonded products industries include aversion to any chemicals (even stable adhesives), and lack of experienced work force. Wood adhesives underwent significant changes in the past decades, mainly focused on reducing emissions during panel use. Wood use in construction will be boosted by efforts to fulfil the European Green Deal, as implemented in the New European Bauhaus and European Renovation Wave.