Global Wood Preservatives Market to Reach Value of USD 2,424.68 Million by 2032 | Emergen Research

Vancouver, Oct. 04, 2023 (GLOBE NEWSWIRE) -- The global wood preservatives market is projected to reach value of USD 2,424.68 Million by 2032, according to a current analysis by Emergen Research. This growth of the market can be attributed to increase in research and development activities to produce new preservatives with high effectiveness and low toxicity. The rising need to guard wood from weathering has resulted in the increasing use of wood preservatives. Rising construction of healthcare facilities, educational institutions, and residential buildings is driving the use of wood preservatives in the construction industry. The rising need for higher durability of wood has boosted the use of wood preservatives in order to protect it from weather or fungi. Growing government initiatives and rising expenditure for better infrastructure in developing economies is expected to drive the wood preservatives market in these countries during the forecast period.

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Stringent government regulations regarding conservation of natural resources and reduction in deforestation are projected to restrain the wood preservatives market during the forecast period. Rising use of chemicals for wood preservation is resulting in degradation of the environment and affecting the health of workers, which has hampered the demand for wood preservatives.

Scope of Research

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MAJOR COMPANIES and Market Share Analysis

The global wood preservatives market is moderately fragmented, with a large number of small- and medium-sized manufacturers accounting for a major market share. These manufacturers are well-equipped with manufacturing facilities and they are involved in several research and development activities. Some of the prominent players operating in the global wood preservatives market are:

• Lanxess
• Lonza
• Koppers
• Troy Corporation
• BASF Wolman GmbH
• Remmers Gruppe AG
• Kurt Obermeier GmbH & Co.
• Copper Care Wood Preservatives, Inc.
• KMG Chemicals
• Buckman Laboratories International, Inc.

Strategic Development

In March 2019, Troy Corporation announced that all its wood preservatives would be named as ProTek. The new brand is expected to contain both the new offerings and former branded products used in pressure-treated wood. The company’s wood preservatives contain borates, moldicides, dissolved copper, azoles, and quats. Its ProTek preservatives offer protection to pressure-treated wood from microbial growth.

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Key Highlights of Report

• In February 2020, Lanxess, a specialty chemicals company, announced to have completed the acquisition of Itibanyl Produtos Especiasis Ltda. (IPEL). The acquisition is expected to strengthen the company’s position in the wood preservatives market and as one of the largest manufacturers of antimicrobial active ingredients and formulations in the world.
• The industrial segment held the largest market share of 50.1% in 2019. The increasing rate of industrialization in developing economies is expected to drive the wood preservatives market during the forecast period.
• The water-based wood preservatives segment is anticipated to expand at the highest CAGR of 5.4% during the forecast period. The wood treated with water-based preservatives is extensively used for industrial purposes and as transmission poles in warehouses and agricultural buildings.
• North America accounted for the largest share of the global wood preservatives market in 2019. Presence of major manufacturers of wood preservatives such as Koppers, Troy Corporation, KMG Chemicals, and Buckman Laboratories International, Inc. is driving the wood preservatives market in the region.

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Emergen Research has segmented the global wood preservatives market in terms of application, formulation, and region:

• Application Outlook (Revenue, USD Million; 2017–2027)
  • Commercial
  • Residential
  • Industrial
• Formulation Outlook (Revenue, USD Million; 2017–2027)
  • Solvent-based Wood Preservatives
  • Water-based Wood Preservatives
  • Oil-based Wood Preservatives
• Regional Outlook (Revenue, USD Million; 2017–2027)
  • North America
    1. U.S.
    2. Canada
  • Europe
    1. Germany
    2. U.K.
    3. France
    4. BENELUX
    5. Rest of Europe
  • Asia Pacific
    1. China
    2. Japan
    3. South Korea
    4. Rest of APAC
  • Latin America
    1. Brazil
    2. Rest of LATAM
  • Middle East & Africa
    1. Saudi Arabia
    2. UAE
    3. Rest of MEA

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