Wood Preservatives Market: Introduction
- Wood preservative products control wood degradation issues that occur due to fungal rot or decay and wood-destroying insects. The treatment process and the use of treated products can result in risks to human health and the environment. Treated wood is commonly used outdoors.
- Wood preservatives increase the lifespan by resisting attacks from insects, bacteria, and fungus. Wood preservation has gained critical importance in the recent years owing to stringent regulations that limit wood usage. Wooden products are protected by chemicals and several treatment methods that elongate their operational life and lower maintenance cost.
Key Drivers and Restraints of Wood Preservatives Market
- Increase in demand for modern interior design is boosting the wood preservatives market. Modern interior design is available in various forms such as wall body, wooden mural, wood carving, wood trim, skirting line, baluster, wood floor, and armrest and ceiling.
- Growth in industrialization and rise in infrastructure needs are the major factors driving the wood preservatives market. Governments and private sectors across the globe are investing in better infrastructure facilities. Construction of residential buildings, health care centers, and educational institutes is boosting the demand for wood, thereby driving the demand for wood preservatives. However, stringent government regulations regarding the usage of synthetic wood preservatives is expected to restrain the market.
Wood Preservatives Market: Formulation Segment
- Based on formulation, the wood preservative market can be divided into water based, solvent based, and oil based
- The water based segment held the major share of the wood preservatives market. Water based wood preservatives possess superior properties compared to other formulations, including high performance and long processing periods.
- Water-based wood preservatives are primarily used in residential and commercial applications. Compared to other formulations, these preservatives provide better environmentally friendly properties. Demand for water-based wood preservatives is rising in emerging economies.
Wood Preservatives Market: Application Segment
- Based on application, the market can be segmented into commercial, residential, and industrial
- The residential segment accounted for the major share of the global wood preservatives market in 2020 due to the increase in demand for wood in flooring and wooden furniture
COVID-19 Impact on Global Wood Preservatives Market
- On January 30, 2020, the International Health Regulations Emergency Committee of the World Health Organization (WHO) declared the Coronavirus disease (COVID-19) outbreak a public health emergency of international concern. Originating in China, the virus has spread to at least 214 countries and territories around the world.
- Several governments and private sector businesses are operating at a limited capacity or have ceased operations completely due to recent events surrounding the COVID-19 pandemic
- The COVID-19 pandemic has resulted in a temporary halt in furniture manufacturing activities. However, demand for wooden furniture has been rising, as many students and people are working from home. They require study tables, work tables, and home office setups.
Asia Pacific to Hold Leading Share of Wood Preservatives Market
- In terms of region, the wood preservatives market can be split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Asia Pacific is expected to hold major share of the global wood preservatives market, followed by North America and Europe, during the forecast period
- Asia Pacific is expected to dominate the market for wood preservatives during the forecast period. Growth of the construction sector in countries such as China, India, and Japan is driving the wood preservatives market in the region.
- The largest producers of wood preservatives are located in Asia Pacific
Key Manufacturers Operating in Global Wood Preservatives Market
The wood preservatives market was consolidated in 2020. Major players have prominent presence in developed and developing countries. Key manufacturers operating in the wood preservatives market include:
- BASF SE
- Troy Corporation
- KMG Corporate
- Quality Borate LLC
- Janssen Global Services, LLC
- Kurt Obermeier GmbH & Co.KG
- Dattashri Enterprises
- Avadata Organics Pvt. Ltd.
- Jubilant Life Sciences Limited
- Buckman Laboratories International, Inc.
- Parikh Enterprises Pvt. Ltd.
- Advanced Agriresearch Limited
- Nisus Corporation
- Koppers Inc
Wood Preservatives: Research Scope
Wood Preservatives Market, by Formulation
- Water Based
- Solvent Based
- Oil Based
Wood Preservatives Market, by Application
Wood Preservatives Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.