Wood Preservation Chemicals Market Size, Share & Industry Analysis, By Formulation (Water-Based Chemicals, Oil-Based Chemicals, Solvent-Based Chemicals), By Application (Residential, Commercial, Industrial) And Regional Forecast, 2024-2032
KEY INDUSTRY INSIGHTS
The wood preserving chemicals maintain the shelf life of logs and timber structures. It can be categorized as solvent-borne preservatives, water-borne preservatives, and oil borne preservatives. These preservative chemicals enhance the durability and resist the timber against fungus and insects. Also, it protects the wooden products from decomposition, decaying, and fire. They are majorly utilized for several purposes such as landscape, decking, fencing industry, utility poles, and railroads. The wood preservation chemicals find its use in various applications which include residential, commercial, and industrial.
The rising demand for wood products will contribute to the market growth. Rising residential & commercial construction activities is expected to raise the demand for wood products. Additionally, it will surge the need for home furnishing and lead to the demand for wooden furniture such as a bed, sofa, table, and chair. These factors will drive the demand for wood preserving chemicals.
However, the higher demand of alternative materials such as wood-plastic composites, iron, plastics, and steel, owing to their high durability and less maintenance has restricted the demand for wood in various applications. Hence, this is anticipated to hamper market growth.
Key Market Driver -
Rising demand for wood products will surge the product demand
Key Market Restraint -
Availability of substitutes for wood products to restrict the market growth
Market Segmentation:
Based on formulation, the wood preservation chemicals market is segmented into water-based chemicals, oil-based chemicals, and solvent-based chemicals. Based on application, the market is segmented into residential, commercial, and industrial. From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Key Players Covered:
The key players in the wood preservation chemicals market include BASF SE, KMG Chemicals Inc., Kop-Coat Incorporated, Lapeyre SA, Rio Tinto Borax, Viance LLC., Janssen Preservation and Material Protection, Kurt Obermeier GmbH & Co. KG, Lonza Group Ltd., RUTGERS Organic, and Osmose Inc.
Key Insights
- Key Emerging Trends – For Major Countries
- Key Developments: Mergers, Acquisition, Partnership, etc.
- Latest Technological Advancement
- Insights on Regulatory Scenarios
- Porters Five Forces Analysis
Regional Analysis:
Asia Pacific to witness sustainable growth in the wood preservation chemicals market during the forecast period. The growth is attributed to the rising demand for water-based chemicals in residential applications. The rising demand for wood preservation chemicals in the commercial application has fueled the market growth in North America. In Europe, the growth is due to the rapidly growing wood industry, which surges the product demand in different ranges of furniture such as beds, chairs, and tables. Latin America and the Middle East & Africa are expected to grow at a significant CAGR, owing to the rising demand for the product in the industrial application.
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Segmentation
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- Ongoing
- 2023
- 2019-2022
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