Research Nester released a report titled “Wood Preservatives Market: Global Demand Analysis & Opportunity Outlook 2029” which delivers detailed overview of the global wood preservatives market in terms of market segmentation by product type, application and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global wood preservatives market is projected to record a significant CAGR over the forecast period, i.e., 2021-2029, owing to increasing urbanization, rise in construction activities, enhanced efficacy of wood preservatives treatment, and the soaring demand for timber for interior designing activities. Our analysis depicts that the worldwide spending on construction activities amounted to be more than USD 11 trillion in 2018. Moreover, in 2030, this amount is estimated to grow up to USD 17 trillion.
The market is segmented on the basis of type into oil-based, water-based, and fumigants, out of which, the segment for water-based preservatives is estimated to hold the largest market share, which can be credited to factors such as ease-of-handling, leach-resistance and less toxicity than other wood preservation chemicals.
Geographically, the global wood preservatives market is segmented into five major regions, including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa. Amongst these, the market in North America is anticipated to hold the largest market share during the forecast period, owing to the presence of leading market players in the world and rising government expenditure for industrial activities. Additionally, developing economies of the Asia Pacific region are also expected to witness a significant hike in their market shares during the forecast period on the back of growing demand for improved wood preservatives.
Growing Rate of Urbanization to Boost the Market Growth
The demand for wood preservatives is high as a result of the surge in urbanization globally. This is driving the need to adopt modern interior designs for public and private facilities, which in turn is projected to boost timber production, and raise the need for wood preservatives. Additionally, rise in disposable income is also assessed to drive the market growth.
However, restrictions on the usage of synthetic wood preservatives and lack of awareness regarding the benefits of wood preservatives are some of the factors anticipated to hinder the market growth over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global wood preservatives market which includes company profiling of Koppers Inc. (NYSE: KOP), Lonza Group Ltd. (SWX: LONN), Troy Corporation, CMC Materials Corporation (NASDAQ: CCMP), LANXESS AG (ETR: LXS), BASF SE (ETR: BAS), Kurt Obermeier GmbH & Co. KG, Remmers GmbH, Buckman International, Inc., and Quality Borate, LLC. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. Altogether, the report depicts detailed overview of the global wood preservatives market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.