Wood preservatives are protective coatings applied to timber and wood products to protect them from insects, fungi, and other organisms. They help prevent rotting and premature decay of wood used in outdoor applications. With growing infrastructure development and construction activities worldwide, the demand for treated wood has increased considerably.
The global Wood Preservatives Market is estimated to be valued at US$ 1,377.8 Mn in 2023 and is expected to exhibit a CAGR of 5.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing demand from the construction industry has been a key growth driver for the wood preservatives market. Rapid urbanization and infrastructure growth in developing regions have boosted construction activities significantly. Pressure-treated wood finds widespread application in structural frameworks, decks, fencing, and outdoor furniture due to its durability and affordability. The growing construction of commercial and residential buildings has also propelled the demand for treated wood, thereby favoring market growth of wood preservatives over the forecast period.
- Strength: Wood preservatives provide protection to wood from fungus, insects, and other microorganisms thereby increasing the lifespan of wood. This reduces the need for frequent replacement of wood products.
- Weakness: Stringent environmental regulations regarding the use of certain preservatives could restrict the market growth. Exposure to some preservatives may also cause health issues.
- Opportunity: Increasing demand for treated wood from the construction and furniture industries offers major growth opportunities. Rapid urbanization and infrastructure development projects boost the wood preservatives market.
- Threats: Substitution threat from alternative materials like plastic, concrete, and steel pose challenges. Fluctuations in wood prices impact the demand for preservatives.
The global wood preservatives market is expected to witness high growth over the forecast period of 2023 to 2030. The market size for 2023 is estimated to be US$ 1,377.8 Mn.
Regional analysis: Asia Pacific region currently dominates the global wood preservatives market and is likely to maintain its leading position throughout the forecast period. China, India, and other developing nations in the region are experiencing rapid urbanization and infrastructure growth boosting wood consumption thereby driving the preservatives demand.
Key players: Key players operating in the wood preservatives market are LANXESS AG, Cabot Microelectronics, BASF Wolman GmbH, Borax Inc., KMG Chemicals Inc., Kop-Coat Inc., Koppers Inc., Kurt Obermeier GmbH & Co. KG, Arxada, Remmers AG. These players are focusing on expanding their production capacities and product portfolios through acquisitions and mergers to strengthen their market positions.
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it