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.
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The water-based wood preservatives
formulation segment is expected to register the highest CAGR in the global wood
preservatives market during the forecast period.
The water-based will continue to lead
the wood preservatives market, accounting for a share of 75% 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 expected to hold the
largest market share in the global wood preservatives market during the
forecast period.
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.
Koppers (US), Lonza (Switzerland),
Lanxess (Germany), Cabot Microelectronics (US), BASF Wolman (Germany), and Troy
(US) are the leading wood preservatives manufacturers globally.
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