Wood preservatives are used to control wood degradation problems due to fungal rot or decay, sapstain, molds, or wood-destroying insects. Therefore, to mitigate the degradation problem, wood product manufacturers treat the product with preservative chemicals. Between 2015-2019, global Roundwood consumption has increased by 217,475 thousand cubic meters, thus showcasing the increasing demand for wood-based products. As the global demand for wooden furniture is growing on account of rapid urbanization in developing economies thereby escalating construction activities, improving income per capita, and inclination towards wooden products, thus promoting the consumption of wood preservatives. For instance, according to Invest India, 40% of India’s population will be living in urban areas by 2025 up from 31% in 2010 and will account for more than 60% of consumption. Additionally, there will be a 2.5 times increase in income per capita from 2016 to 2027.
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According to UnivDatos Market Insights (UMI)’ research report “Global Wood Preservatives Market”, the market is expected to showcase a growth of around 5% during the forecast period. Growing demand for wooden furniture, urbanization and growing income, and growing awareness regarding the benefits of wood protection chemicals, are some of the key attributable factors to the growth of the market.
Based on formulation, the market is categorized into water-based, oil-based, and solvent-based. Among these, water-based accounted for a significant share in the market and is likely to retain its position during the forecast period. This can be attributed to the increasing demand for less toxic products. Further, the growing demand for water-based preservatives in residential & commercial applications. Moreover, a large number of water-based wood preservatives contain copper which improves the working of preservatives against unwanted substances, therefore consumers prefer water-based over others.
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Based on application, the market is categorized into residential, commercial, and industrial. Among these, residential accounted for a significant share owing to the high penetration rate of wooden products in the household compared to commercial and industrial settings. Moreover, changing family structure i.e., shift toward nuclear family is increasing the demand for new houses, thereby increasing the consumption of the wooden product in building construction and interior work. For instance, according to Invest India, as of 2022, the proportion of nuclear households has reached 70% and is projected to increase to 74% by 2025. They spend 30% more per capita than joint families.
Asia-Pacific accounted for a considerable share of the wood preservatives market
Asia-Pacific accounted for a significant share in the global wood preservatives market and is likely to maintain its presence during the forecast period. A large and growing population coupled with increasing construction activities to provide accommodation to the growing population is one of the key factors which is promoting the consumption of wood preservatives. Further, regional economies like China, India, Japan, and Vietnam are among the largest furniture producers. For instance, according to the Centre for Industrial Studies on global furniture production, in 2016, China, India, Japan, and Vietnam accounted for a market share of 39%, 4%, 2%, and 2% respectively. Further, the region is likely to showcase the same trend with increasing foreign investment in the regional economies to take the benefits of setting up manufacturing facilities in the region. Owing to such factors, the demand for wood preservatives is likely to increase during the foreseeable future.
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According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the global wood preservatives market include Koppers Inc., Lonza Group AG, Lanxess AG, BASF SE, Troy Corporation, Remmers Gruppe AG, Copper Care Wood Preservatives Inc., RÜTGERS Organics GmbH, Viance LLC, and Janssen Pharmaceutica NV. These companies are taking several strategic decisions to meet the growing demand and increase their market share.
“Global Wood Preservatives Market” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the market players. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitors’ capabilities on different parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.
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Market Segmentation:
1. By Formulation (Water-Based, Oil-Based, and Solvent-Based)
2. By Application (Residential, Commercial, and Industrial)
3. By Region (North America (US, Canada, Rest of North America), Europe (Germany, UK, France, Italy, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Rest of APAC), and Rest of World)
4. By Company (Koppers Inc., Lonza Group AG, Lanxess AG, BASF SE, Troy Corporation, Remmers Gruppe AG, Copper Care Wood Preservatives Inc., RÜTGERS Organics GmbH, Viance LLC, and Janssen Pharmaceutica NV)
Key questions answered in the study:
1. What are the current and future trends of the global wood preservatives industry?
2. How the industry has been evolving in terms of formulation and application?
3. How the competition has been shaping across the countries followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for the global wood preservatives industry?
5. What are the customer orientation, purchase behavior, and expectations from the global wood preservatives suppliers across various region and countries?
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