Gmi Research's blog : Wood Preservatives Market Global Forecast to 2027
Wood Preservatives Market
The Wood Preservatives Market is anticipated to expand at a robust CAGR over the forecast period (2020-2027).
The factors driving the growth of Wood Preservatives Market includes increasing application of wood preservatives in marine piling and fencing, growing demand for modern interior designs around the world and rising production of environment friendly wood preservative chemicals. Moreover, the technological advancements in wood preservative products, rise in Government’s spending on infrastructure projects and increase in the renovation and reconstruction activities, are some of the additional factors supplementing the Wood Preservatives Market Growth. According to the report published by Infrastructure investor, the Government of Indonesia is planning to increase the spending on infrastructure projects from USD 359.2 billion between 2015-2019 to around USD 430 billion in 2024, which will boost the Wood Preservatives Market size in Indonesia. In addition, the rising disposable incomes, rapid urbanization and increase in the number of healthcare centers and educational institutions, are further propelling the market growth.
However, the growth of Wood Preservatives Market is hindered due to insufficient knowledge about wood preservative products in the developing countries.
The prominent players operating in the market are Nisus Corporation, OBERMEIER, Lonza, LANXESS, CMC MATERIALS, Remmers, Quality Borate, LLC. Avadata Organics Pvt. Ltd., BASF SE and Koppers Inc., among others.
Formulation – Segment Analysis
As per the Global Wood Preservatives Market Analysis, the water-based wood preservative segment is anticipated to capture the largest market share during the forecast period attributed to increasing application of water-based wood preservatives in fencing and landscaping
Application – Segment Analysis
Based on Application, the residential segment is predicted to expand at a remarkable CAGR over the forecast period. The Government initiatives to provide home loan subsidies and increasing application of wood preservatives in sustainable building materials, are some of the factors responsible for the growth of the segment.
Regional – Segment Analysis
According to the Wood Preservatives Market Global Forecast, the North American region is estimated to lead the market during the forecast period. The strong presence of the leading players such as RUTGERS, Bostik, Quality Borate, LLC, heavy investments in the infrastructure projects by Governments, continuous expansion of the construction industry and high per capita incomes, are some of the important factors influencing the market growth in North America.
Market Segmentation
Global Wood Preservatives Market by Formulation
- Water Based Wood Preservatives
- Solvent Based Wood Preservative
- Oil Based Wood Preservative
Global Wood Preservatives Market by Application
- Residential
- Commercial
- Industrial
Global Wood Preservatives Market by Region
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- North America
- United States of America
- Canada
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
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