The chemicals added to wood to protect it from fungi, insects, termites, ants, and other microbes are wood preservatives such as copper azoles, synthetic pyrethroids, creosote, and various other preservatives. These preservatives also avoid decomposition, deterioration and decay of the wood and have a longer life, thereby increasing its longevity. The operating life of trees, timber structures, and timber-engineered structures is improved by wood-preserving chemicals.
Wood Preservatives Market is expected to project a notable CAGR of 5.23% in 2030.
Wood Preservatives Market to surpass USD 2.3 billion by 2030 from USD 1.2 billion in 2018 at a CAGR of 5.23% throughout the forecast period, i.e., 2019-30. Rising per capita income and rapid urbanization are the key drivers of this market 's growth. Nevertheless, the production of environmentally friendly wood preservative chemicals, combined with emerging technologies in this sector, is also fueling its rise.
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Wood Preservatives Market: Segments
Water based segment to grow with the highest CAGR of 6.32% during 2019-30
Wood Preservatives Market is segmented by Formulation as Water-Based, Oil-Based and Solvent-Based. The greater market share of 75% in 2018 was accounted by Water-Based Wood Preservatives segment of the Wood Preservatives market and this trend is projected to prevail during the forecast period. This was due to the rising demand for water-based wood preservatives in sub-applications for decking, fencing, and landscaping, which are expected to see strong growth over the next five years. In the wood preservative industry, the efficacy of copper-based wood preservatives has increased their demand. Water-based formulations contain much of the copper-based wood preservatives.
Wood Preservatives Market: Market Dynamics
Increasing Demand for Wood in Different Applications
Rising demand for interior design where wood is the most significant raw material in the interior space of the structure portion and show. In various types, such as wall body, wood mural, wood carving, wood trim, skirting line, baluster, wood floor, armrest and ceiling, etc., there is a growing demand for modern interior design. The demand for wood, which would further increase the demand for wood preservatives and drive the market, will also increase.
Stringent Environmental Regulations
Some of the factors hindering the growth of the wood preservative chemicals market are stringent restrictions on the use of toxic chemicals in developing countries; restricted availability of wood; and the rising use of substitutes, such as steel, plastic, and polymers.
Wood Preservatives Market: Regions
Wood Preservatives Market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, APAC and MENA.
Wood Preservatives Market in North America held the largest market share of XX.X% in the year 2018. Because of the growing use of wood in the residential and industrial sectors, the market for wood preservatives is rising in North America. The growing construction industry, backed by heavy infrastructural development spending, is generating new opportunities for producers of wood preservatives operating in the area. During the historical era, however, APAC accounted for a large share in the demand for wood preservative chemicals. Due to rising urbanization, infrastructure development, increasing construction activities, and a lenient regulatory framework regulating the use of chemicals in the region, coupled with an rise in disposable income, the Asia Pacific region is expected to have the fastest growth in the region.
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