Wood Preservative Market by Formulation (Water-Based, Oil-Based, Solvent-Based), Application (Residential, Commercial, Industrial), and Region - Global Forecast to 2022
“Wood preservatives market to grow at a CAGR of 5.4% (2017-2022)”
The global wood preservatives market is projected to reach USD 2.09 billion by 2022, from USD 1.61 billion in 2017, at a CAGR of 5.4%. Increased demand from various applications such as residential, commercial, and industrial acts as the key driving factor influencing the growth of the global wood preservatives market. However, the limited consumption of wood preservatives due to the lack of awareness in the emerging economies serves as a restraint for the growth of the market.
“Industrial is expected to be the fastest-growing application segment during the forecast period”
Utility poles accounts for the largest share of the industrial application of wood preservatives. North America accounts for the largest share of the industrial application segment of wood preservatives. The preference for wooden poles in electrical and other utility industry is the reason for the higher share of North America in industrial application. The wooden industrial utility includes electrical boards and utility poles. Utility poles are cylindrical or rectangular structures used to support electricity wires, telephone cables, street lights, and other public utility. A wooden pole is an inexpensive option for keeping the electrical wires and other electrical utilities insulated from the ground. The rising demand for treated wood in all these industrial applications is expected to drive the wood preservatives market during the forecast period. Applications of wood preservatives in the residential segment include structural & decking, fencing, landscaping, and furniture. The residential and commercial applications constitute a larger share of wood preservatives market. The consumption of treated wood in residential and commercial applications is also growing at a decent rate.
“Water-based segment is expected to be the largest and fastest-growing formulation segment in the global wood preservatives market”
Based on formulation, the water-based segment is projected to grow at the highest CAGR from 2017 to 2022. Water-based wood preservatives help provide superior performance and excellent surface for painting at a low cost after the treatment. They also adhere to the environmental guidelines for VOC. These benefits of water-based wood preservatives act as growth drivers for the wood preservatives market.
“North America is projected to be the largest market for wood preservatives during the forecast period”
The US accounted for largest share of the North American wood preservatives market in 2016. The wood preservatives market in the US, Mexico, and Canada is poised to grow due to the increase in demand for wooden poles, wooden flooring, wooden roofing, fencing, decking, and railroad wood applications. Canada and the US have large forest areas and significant amount of wood available to fulfill the requirement of end-use applications. The compatibility of wooden constructions and benefits of wood in various applications are pushing the demand for wood, and in turn, the demand for wood preservatives.
Extensive primary interviews were conducted to determine and verify the market size for several segments and subsegments gathered through secondary research.
The break-up of primary interviews is given below.
• By Company Type: Tier 1 – 55%, Tier 2 – 20%, and Others – 25%
• By Designation: C Level – 75% and Others – 25%
• By Region: North America – 10%, Europe – 20%, Asia Pacific – 40%, and Rest of the World – 30%
The companies profiled in this market research report are BASF Wolman (Germany), Koopers (US), Lonza (US), LANXESS (US), KMG Chemicals (US), Troy Corporation (US), Viance (US), Dolphin Bay (US), Remmers (Germany), and Wykamol (UK).
This research report categorizes the global wood preservatives market on the basis of formulation, application, and region. The report includes detailed information regarding the major factors influencing the growth of the global wood preservatives market, such as drivers, restraints, challenges, and opportunities. A detailed analysis of key industry players has been done to provide insights on business overviews, products & services, key strategies, investments & new product development, mergers & acquisitions, and other recent developments associated with the market.
Reasons to Buy the Report:
The report will help market leaders/new entrants in this market in the following ways:
1. This report segments the global wood preservatives market comprehensively and provides the closest approximations of market sizes for the overall market and its subsegments across regions.
2. The report will help stakeholders understand the pulse of the market and provide them information on key market drivers, restraints, challenges, and opportunities.
3. This report will also help stakeholders understand major competitors and gain insights to enhance their competitive positions in the market. The competitive landscape section includes major industry players from all the regions contributing to the market. The landscape consists of top 25 companies ranked and grouped based on their competency parameters such as geographical presence, recent strategic developments, patents filed, and number of employees.
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