Wood Preservatives Market Highlights 2020 – 2029
The global wood preservatives market is expected to grow at a significant CAGR over the forecast period, i.e., 2021 – 2029. The growth of the market can be attributed to rapid urbanisation, increasing construction and infrastructure activities, and growing demand for timber for interior designing purposes in the coming years. As per our analysis, more than USD 11 trillion were spent on construction activities globally in 2018. This amount is estimated to rise up to USD 17 trillion by the end of 2030. Another aspect expected to contribute to market growth is the rising need to protect wood decay from harmful microbial organisms and marine borers. Preservative treatments enhance effectiveness and operational life of wooden products, along with reducing maintenance costs associated with furniture, which in turn is projected to fuel the demand for wood preservatives in the near future. However, the manufacture of wood preservatives declined during the COVID-19 crisis owing to the suspension of production by several companies. According to a report by the United Nations Industrial Development Organization (UNIDO), industrialized economies registered a decrease in manufacturing output by 2.5% during the first quarter of 2020.
With respect to type, the market is segmented into oil-based, water-based and fumigants segments. Out of these, the section for water-based wood preservatives grabs the largest market share and is anticipated to expand at the highest growth rate during the forecast period. This can be accounted to their properties such as ease of handling, leach-resistance and safety from fire or explosion. Furthermore, based on application, the industrial segment is assessed to witness significant growth accounting to the increasing rate of industrialisation in developing nations and growing use of wood in industrial sector for a wide range of indoor and outdoor applications.CLICK TO DOWNLOAD SAMPLE REPORT
Global Wood Preservatives Market Regional Synopsis
On the basis of regional analysis, the global wood preservatives market is segmented into five regions, namely North America, Latin America, Asia Pacific, Europe and the Middle East & Africa. The market in North America is anticipated to hold a leading share during the forecast period on the back of growing government investments in the infrastructure sector and rising demand for eco-friendly wood preservatives. According to the USA Facts Institute, in 2018, the federal government in U.S.A spent around $169 billion on infrastructure activities. The market in this region is expected to garner a revenue of more than $2 trillion before the start of 2026. Furthermore, Asia Pacific region is evaluated to be the most futuristic market for wood preservatives during the forecast period as a result of growing construction sector of this region, especially in countries like China, Japan and India, and the demand for improved products for wood conservation.
The global wood preservatives market is further classified on the basis of regions is as follows:
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis
Market Segmentation
Our in-depth analysis of the global wood preservatives market is divided into the following segments:
By Type
- Oil-Based
- Water-Based
- Fumigants (Light Organic Solvent-Based)
By Application
- Residential
- Industrial
- Commercial
Growth Drivers
- Rise in Urbanisation
- Increasing Demand for Timber for Construction Purposes
Restraints
- Regulations on the Use of Synthetic Wood Preservatives
- Lack of Awareness about the Benefits of Wood Preservatives
Top Featured Companies Dominating the Market
- Koppers Inc.
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- LANXESS AG
- Lonza Group Ltd.
- Troy Corporation
- BASF SE
- CMC Materials Corporation
- Kurt Obermeier GmbH & Co. KG
- Remmers GmbH
- Buckman International, Inc.
- Quality Borate, LLC
