According to Research for Markets, the Global Wood Preservative Chemicals market is expected to grow from $1.58 billion in 2016 to reach $2.57 billion by 2023 with a CAGR of 7.2%. Increasing usage of wood for interior decoration, rapid urbanization in emerging countries, and raising consumer spending levels are some of the major factors propelling the market growth. In addition, technological advancements in wood preservative chemicals, growing adoption of eco friendly preservative chemicals are some of the other factors boosting the market growth. On the other hand, stringent regulations on usage of toxic chemicals, limited availability of wood are some of the restraints hindering the market growth.
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Water based preservatives are mostly used in commercial, residential applications. It is suitable for across all applications. This preservative provides better environmental friendly properties compared to other formulations. Increasing demand of Water based preservatives from emerging economies is high. Growing adoption of wood in interior decoration for aesthetic look in residential constructions causes demand for wood preservatives in residential market.
North America dominated the global market with largest market revenue followed by Europe during the forecast period. Asia Pacific is emerging as fastest growing region over the forecast period. Rapid urbanization, raising infrastructural activities are the factors fostering the growth of Asia Pacific region.
Some of the key players in global wood preservative chemicals market include BASF Wolman, Borax, Cooper Care Wood Preservative, Dattashri Enterprises, Dolphin Bay, Janssen Pharmaceutica, Jubilant, KMG Chemicals, Koppers, Kurt Obermeier, Lada Organics Pvt. Ltd., Lanxess, Lonza, Quality Borate Company, Remmers, Rutgers Organics, Timberlife (Pty) Ltd., Troy Corporation, Viance, and Wykamol Group.
Formulation Types Covered:
• Water-Based Wood Preservative
• Solvent-Based Wood Preservative
• Oil-Based Wood Preservative
• Residential and Commercial
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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