Growth opportunities in the Wood Preservatives Market look promising over the next six years. This is mainly due to the continuous technological advancements along with the rising preference of individuals regarding eco-friendly wood preservatives.
Wood Preservatives Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
The drivers responsible for the growth of the global wood preservatives market include the favorable strategic measures by government bodies, like an initiative started by the Canadian government for wood preservation along with the technical guidance for the protection. Another investment by the U.K. government, totaling US$ 7.09 billion, directed to emphasize the infrastructural development is further stimulating the market demand. These strategies by government across different regions and ongoing technological expansion are strengthening the market’s growth. For instance, Koppers is involved in launching new materials including copper azoles, borates, copper naphthenate, etc.
Also, supporting guidelines by the government associated with the application of unfamiliar technology to preserve wood will further support the market growth. Moreover, the surging infrastructural and industrial sector has significantly raised the demand for wood stabilizers across the world. For instance, structural investment increased by 6.5% of GDP over emerging nations like Asia-Pacific. The shifting tendency of consumers towards environment-friendly wood preservatives is bolstering the market size. For example, Ammonium Copper Quaternary, a newly registered compound that is comprehensively used for wood perpetuation and treatment process, such as in structural timber and agriculture poles. However, the excessive implementation of organic wood products to prevent wood is a new tendency in the market that will hinder market growth. As per an article published by Redalyc, the plant extract can be applied in rural areas where preservatives are not economical. Moreover, the lack of accessibility of wood might contract the market share.
Regional Drivers
Based on the regional coverage, North America is projected to lead the market over the forecast period. This is primarily attributed to the rising usage in residential and other end uses. Additionally, leading players such as RUTGERS, Bostik, Quality Borate, LLC adds to the market growth. The considerable investments in development and infrastructure have raised the growth of the construction sector. On the other hand, Europe is expected to expand at a higher CAGR in the market over the forecast period. The European government encourages the construction industry from the influence of coronavirus, which will uplift the market demand.
Wood Preservatives Market’s leading Manufacturers:
- Remmers
- Nisus Corporation
- Quality Borate, LLC.
- CMC MATERIALS
- Lonza
- OBERMEIER
- Avadata Organics Pvt. Ltd.
- BASF SE
- LANXESS
- Koppers Inc.
Wood Preservatives Market Segmentation:
Segmentation by Formulation
- Water Based Wood Preservatives
- Solvent Based Wood Preservative
- Oil Based Wood Preservative
Segmentation by Application
- Residential
- Commercial
- Industrial
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
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