Wood Preservative chemicals Market Forecasts to 2028 – Global Analysis By Formulation (Water-Based Wood Preservative, Solvent-Based Wood Preservative), Application (Industrial, Residential and Commercial ), and By Geography

Wood Preservative chemicals Market Forecasts to 2028 – Global Analysis By Formulation (Water-Based Wood Preservative, Solvent-Based Wood Preservative), Application (Industrial, Residential and Commercial ), and By Geography

According to Stratistics MRC, the Global Wood Preservative Chemicals Market is accounted for $1.41 billion in 2021 and is expected to reach $2.29 billion by 2028 growing at a CAGR of 7.2% during the forecast period. Wood preservation chemicals are used to protect wooden products from decaying, decomposition, fire or other hazards. These chemicals increase life span by restricting attacks from insects, bacteria and fungus. Wood preservation has gained critical importance in the recent years owing to stringent regulations that limit wood usage. Wooden products are protected by chemicals and several treatment methods that elongate their operational life and lower maintenance cost.

Market Dynamics:

Driver:

Increasing disposable income & rapid urbanization

There is a growing demand for interior design where wood is the most important raw material of the structural component and display in the interior space. There is an increasing demand for modern interior design in numerous forms such as wall bodies, wooden murals, wood carving, wood trim, skirting lines, baluster, wood floors, armrests, the ceiling so on. Hence drive the demand of the market which will further increase the demand for wood preservatives and drive the market.

Restraint:

Stringent regulations

Stringent regulations on the usage of toxic chemicals across the developed countries; limited availability of wood; and the growing application of substitutes, such as steel, plastic, and polymers, are some of the factors hindering the growth of the market. The growth in demand for substitute materials, such as wood-plastic composites, steel, iron, and plastics, which demonstrate high durability and require less maintenance, is another factor limiting the demand for it, globally.

Opportunity:

Emerging technologies for wood preservation

The major market players are laying constant efforts to develop the new chemicals such as borates, ACQ, copper naphthenate, copper azole, copper-HDO (Bis-(Ncyclohexyldiazeniumdioxy-copper)) and polymeric betaine which will be in compliance with the rules and regulations of environmental agencies and which will be more effective for the wood preservations. New products such as micronized copper azoles and other water-based products are coming into the market which presents growth opportunities in the market.

Threat:

Creating awareness about the advantages of wood preservatives in developing markets

For wood preservatives consumption the African and Asian countries have a great potential. The huge populations in these provinces provide ample opportunities to cater to the demand for the market. The amount of wood used in the emerging countries is high, but the use of wood preservatives is comparatively lower. Therefore, the awareness about the benefits of wood preservatives is necessary in these provinces. The increase in such awareness is the primary challenge for the market players in these provinces.

Residential and Commercial segment is expected to be the largest during the forecast period

Residential and Commercial segment is expected to be the largest during the forecast period. As the increasing residential & commercial construction activities are anticipated to raise the demand for wood products. Additionally, it will increase the need for home furnishing and lead to the demand for wooden furniture such as a bed, sofa, table, and chairs. These factors will drive the demand for wood-preserving chemicals.

The Water-Based Wood Preservatives segment is expected to have the highest CAGR during the forecast period

The water-based will continue to lead the market, owing to the increasing demand for water-based wood preservatives in the fencing, decking, and landscaping sub-applications are expected to witness high growth in the next five years. The effectiveness of the copper-based wood preservatives has increased their demand in the wood preservatives market. Most of the copper-based wood preservatives are water-based formulations. Therefore, the water-based wood preservatives segment is expected to dominate the market growth.

Region with highest share:

The North America is projected to hold the highest market share, owing to the rise in the use of wood preservative chemicals for residential and commercial applications. Governments and private sectors across North America are investing in infrastructure facilities. Construction of residential buildings, healthcare centers, and educational institutes leads to the demand for wood and ultimately it drives the need for the market.

Region with highest CAGR:

Asia Pacific is projected to have the highest CAGR, the growth is attributed to the rising demand for water-based chemicals in residential applications. Moreover, the rapidly growing wood industry, which surges the product demand in different ranges of furniture such as beds, chairs, and tables is some of the factors motivating the market growth.

Key players in the market:

Some of the key players profiled in the Wood Preservative chemicals Market include BASF Wolman, Borax, Cooper Care Wood Preservative, Dattashri Enterprises, Dolphin Bay, Janssen Pharmaceutica, Jubilant KMG Chemicals, Koppers, Kurt Obermeier, Lada Organics Pvt. Ltd., Lanxess, Lonza, Quality Borate Company, Remmers, Rutgers Organics, Timberlife (Pty) Ltd., Troy Corporation, Viance Wykamol Group.

Key developments:

In January 2019: Troy introduced TroyCare LSB Natural Preservatives offering superior broad- spectrum efficacy to other natural preservatives, as well as the performance at lower use levels for exceptionally low cost-in-use

In February 2020: Koppers planned to expand the copper naphthenate wood preservative market. This will help the company to grow its presence in wood preservation markets. In addition, the company also focuses on in-house manufacturing capabilities of the copper

In December 2019: Lanxess acquired Itibanyl Produtos Especiais Ltda. (IPEL) (Brazil) which is a manufacturer of biocide. This will help strengthen chemicals portfolio and material protection products business unit of LANXESS is reinforcing its global presence which will include wood protection.

Formulations Covered:
• Water-Based Wood Preservative
• Solvent-Based Wood Preservative
• Oil-Based Wood Preservative

Applications Covered:
• Industrial
• Residential & Commercial

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025 and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
Comprehensive profiling of additional market players (up to 3)
SWOT Analysis of key players (up to 3)
• Regional Segmentation
Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances