According to a new market research report published by Acute Market Reports “Wood Preservative Chemicals Market - Growth, Future Prospects and Competitive Analysis, 2021 – 2029,” wood Preservative chemicals market was valued at US$ 2.0 Bn in 2020, and is expected to reach around US$ 3.08 Bn by 2029, expanding at a CAGR of 5.5% from 2021 to 2029.
Browse the full Wood Preservative Chemicals Market - Growth, Future Prospects and Competitive Analysis, 2021 – 2029 report at https://www.acutemarketreports.com/report/wood-preservative-chemicals-market
Market Insights
Wood preservative chemical are used to increase life span of woods by controlling insects, bacteria and fungus from decaying. Wooden furniture have a significant share in the furniture industry, which led to the demand for wood preservative. Wood preservative chemical market is growing due to the strict rules that limits wood usage. Wood is protected by using chemicals and numerous treatment methods that extend their working life and reduces the maintenance cost. Durable wooden furniture industry growth is likely to have an optimistic influence on the wood preservative chemical market in the forecast period. Wood preservative chemicals plays a major role in the construction process of buildings. The increase in construction spending will indirectly increase the demand for wood, which will, due to which demand for wood preservatives will also increase. Growing disposable income and rapidly developing economies, mainly in the developing regions are the major factor led to the growth of the market in the forecast period. Wood preservative chemical is used in decking, public infrastructure, railroad products, fencing, construction, furniture & flooring, sports equipment, art & decoration, and music instruments. Swift industrialization is expected to enhance the demand for wood preservative chemical market.
The water-borne preservative segment was the largest segment of the global wood preservative chemical market in 2020. Water-base preservatives accounted for more than 65% share of the global wood preservation chemicals market in 2020. These preservative are commonly used in all applications and offer better performance for residential and commercial applications. The demand for treated wood is driven by the increasing disposable income of the population in the emerging regions.
North America is the largest market for the wood preservative chemical market due to technological developments and strategic initiatives undertaken by the industry members. North America is projected to continue with its leading position during the forecast period. Asia Pacific and Latin America are projected to spectate vigorous demand for wood preservative chemicals in the near future, due to rise in construction activity and indulgent regulatory framework associated to usage of wood.
Some of the major companies operating in the market include BASF SE, Janssen Preservative and Material Protection, KMG Chemicals Inc, Kop-Coat Incorporated, Kurt Obermeier GmbH & Co. KG, Lapeyre SA, Osmose Inc., Lonza Group Ltd., Rio Tinto Borax, RUTGERS Organic and Viance LLC., Osmose Inc.
