The global wood preservatives market size is estimated to grow from USD 1.3 billion in 2020 to USD 1.7 billion by 2025, at a CAGR of 5.1 % during the forecast period. The market is witnessing moderate growth, owing to 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 the residential & commercial application. The increasing use of wood preservatives in residential, commercial and the rising construction activities is driving the wood preservatives market.
Koppers (US), Lonza (Switzerland), Lanxess (Germany), Cabot Microelectronics (US), BASF Wolman (Germany) and Troy (US) among others are the leading wood preservatives manufacturers, globally. These companies adopted expansion new product launches as the key growth strategy between 2016 and 2020. The wood preservatives market’s competitiveness is continuously increasing with its growing demand, especially in the eco-friendly wood preservatives chemicals.
“The wood preservatives market is projected to register a CAGR of 5.1% during the forecast period, in terms of value.”
The market is witnessing moderate growth, owing to 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 the construction & infrastructure industry. The increasing use of wood preservatives in these industries and the rising construction activities is driving the wood preservatives market. Restriction on plant cutting and the use of hazardous chemicals such as chromium, arsenic and creosote.
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“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.