Dublin, April 01, 2021 (GLOBE NEWSWIRE) -- The "Wood Preservatives Market by Formulation (Water-Based, Oil-Based, Solvent-Based), Application (Residential, Commercial, Industrial), and Region (North America, APAC, Europe, South America, Middle Eastand Africa) - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The Global Wood Preservatives Market is Estimated to be USD 1.3 Billion in 2020 and is Projected to Reach USD 1.7 Billion by 2025, at a CAGR of 5.1%
The market is witnessing moderate growth, owing to the increasing application, infrastructural development, and growing demand for these wood preservatives in the Asia Pacific, North America and Europe. Wood preservatives are largely used in residential & commercial applications. The increasing use of wood preservatives in residential, commercial and rising construction activities is driving the wood preservatives market.
Wood preservatives increase the life of the wood by protecting it from decay, fungi, rot, and wood-boring insects. These include various chemicals, such as copper-based chemicals, borates, and creosote oils. They can be segmented based on formulations as water-based, oil-based, and solvent-based wood preservatives. Different wood preservatives are used in various applications depending on the environment in which the treated wood is to be used.
The applications of wood preservatives can be broadly segmented as residential, commercial, and industrial. Structural & decking, fencing, landscaping, and furniture are some of the sub-segments of residential and commercial applications. The industrial applications include utility poles, railroad ties, and marine applications.
Water-Based Wood Preservatives segment is expected to lead the wood preservatives market during the forecast period.
The water-based will continue to lead the wood preservatives market, accounting for a share of 75.6% of the overall market in 2019 terms of value. This was due to the increasing demand for water-based wood preservatives in the decking, fencing, 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 market is expected to dominate, globally, during the forecast period.
North America is the largest market for wood preservatives market.
North America accounted for the largest share of the wood preservatives market in 2020. The demand for wood preservatives is increasing in North America due to the increased usage of wood in the residential and industrial sectors. The rising construction industry supported by heavy investments for infrastructural developments is providing new opportunities for the wood preservatives manufacturers operating in this region
The wood preservatives market comprises major solution providers, such as Koppers (US), Lonza (Switzerland), Lanxess (Germany), Cabot Microelectronics (US), BASF Wolman (Germany) and Troy (US) among others.
Rapid Urbanization and Increasing Disposable Incomes in Emerging Economies
Demand for Eco-Friendly Wood Preservative Chemicals
Increasing Restrictions on the Use of Chromium, Arsenic, Creosote, and Other Hazardous Chemicals
Growing Restrictions on Plant Cutting
Emerging Technologies for Wood Preservation
Increasing Use of Wood for Interior Decorative Purposes and Wooden Flooring in Buildings
Growth of Wood Lumber Market
Growing Demand for Wood Composites
Creating Awareness About the Advantages of Wood Preservatives in Emerging Markets
Copper Care Wood Preservatives
Buckman Laboratories International
Aadinath Chemical Industries
Advance Agrisearch Limited
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