Increasing awareness of environmental sustainability and green
building practices drives demand for eco-friendly wood
preservatives with low environmental impact and reduced toxicity.
Manufacturers are developing water-based, bio-based, and
eco-friendly wood preservatives as alternatives to traditional
chemical treatments, meeting the preferences of
environmentally-conscious consumers and businesses.
WILMINGTON, Del., April 30,
2024 /PRNewswire/ -- Allied Market Research published
a report, titled, "Wood Preservative
Market by Type (Water-based, Solvent-based, and
Oil-based), and End-use (Residential, Commercial, and Industrial):
Global Opportunity Analysis and Industry Forecast, 2024-2033".
According to the report, the "wood preservative market" was valued
at $1.3 billion in 2023, and is
estimated to reach $2.1 billion by
2033, growing at a CAGR of 5.5% from 2024 to 2033.
Prime determinants of growth
Construction and infrastructure development sector is a
significant driver for the wood preservative market. Wood
preservatives are essential in protecting wood against decay,
fungi, insects, and other environmental factors, thereby extending
its lifespan and ensuring durability. However, fluctuations in the
prices of raw materials is anticipated to hinder the growth of the
market. Also, innovation and product development is expected to
offer lucrative opportunities for market growth in the coming
years.
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Report Coverage & Details:
Report
Coverage
|
Details
|
Forecast
Period
|
2024–2033
|
Base Year
|
2022
|
Market Size in
2023
|
$1.3 billion
|
Market Size in
2033
|
$2.1 billion
|
CAGR
|
5.5 %
|
No. of Pages in
Report
|
250
|
Segments
covered
|
Type, End-use
Region.
|
Drivers
|
Construction and
Infrastructure Development
Growing Awareness About
Sustainable Construction Practices
|
Opportunities
|
Innovation and product
development.
|
Restraints
|
Fluctuations in the
prices of raw materials
|
The water-based segment to maintain its lead position during the
forecast period.
By type, the water-based segment accounted for the largest share
in 2023, contributing to more than three-fourths of the global wood
preservative market revenue, and is projected to grow at a CAGR of
5.4% from 2024 to 2033. Water-based wood preservatives offer a
sustainable, safe, and effective solution for protecting and
enhancing the performance of wood in various applications. With
their environmental benefits, ease of application, quick drying
time, excellent performance, durability, aesthetic appeal, and
cost-effectiveness, water-based wood preservatives are gaining
popularity among contractors, homeowners, and DIY enthusiasts
seeking eco-friendly and high-quality wood treatment solutions.
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The residential segment to maintain its lead position during
the forecast period.
By end-use, the residential segment accounted for the
largest market share in 2023, contributing to more than
two-thirds of the global wood preservative market revenue, and is
projected to grow at a CAGR of 5.4% from 2024 to 2033. Wood
preservatives are essential in residential construction,
maintenance, and renovation projects, ensuring the durability,
safety, and aesthetic appeal of wood structures and components. By
protecting wood from decay, fungi, insects, moisture, and other
environmental factors, wood preservatives help homeowners maintain
a healthy, safe, and beautiful living environment while reducing
maintenance and replacement costs and enhancing the value of their
properties.
Asia-Pacific to
maintain its dominance by 2032.
Based on region, Asia-Pacific
held the highest market share in terms of revenue in 2023,
accounting for around two-thirds of the global wood preservative
market revenue and is likely to dominate the market during the
forecast period with a CAGR of 5.7%. In the Asia-Pacific region, the use of wood
preservatives is influenced by a variety of factors, including
rapid urbanization, infrastructure development, housing
construction, and the increasing awareness of sustainable building
practices.
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Strategies:
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Leading Market Players: -
- BASF SE
- Lonza Group
- Koppers Inc.
- Viance, LLC
- Remmers Group
- Troy Corporation
- Borax Inc.
- Lanxess AG
- Dolphin Bay Chemicals
- Kop-Coat, Inc.
The report provides a detailed analysis of these key players in
the global wood preservative market. These players have adopted
different strategies such as new product launches, collaborations,
expansion, joint ventures, agreements, and others to increase their
market share and maintain dominant shares in different regions. The
report is valuable in highlighting business performance, operating
segments, product portfolio, and strategic moves of market players
to showcase the competitive scenario.
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