Wood Preservative Chemicals Market
Wood Preservative Chemicals Market (Product - Chromated Arsenicals, Creosote, Copper Based (Alkaline Copper Quaternary, Ammoniacal Copper Arsenite, Copper Azole, and Copper Napthenate) and Zinc Based; Technology - Waterborne, Oil borne, and Organic Solvent borne; End-use - Furniture & Decking, Marine, and Construction) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025
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Global Wood Preservative Chemicals Market: Snapshot
The global wood preservative chemicals market is rising steadily over the years. Economic development in many parts of the world leading to industrialization and urbanization is having a positive bearing on the wood industry and its ancillary industries.
Among the key growth drivers of the global wood preservative chemicals market is the need to prevent the degradation of wood and wood products. These chemicals prevent wood from being infested by termites, fungus, molds, or other microbes, which if not prevented can cause major damage.
Changing lifestyle and increasing purchasing power is leading to increased spending on wood-based decoration in homes and workplaces. This requires wood to be coated with wood preservative chemicals to extend the life of these decorations.
A report by Transparency Market Research says that the global wood preservative chemicals market was worth US$1,663.2 mn in 2016. Expanding at a CAGR of 3.7% between 2017 and 2025, the market is expected to become worth US$2,284.2 mn by 2025.
Waterborne Chemicals to Witness High Demand
The segments of the global wood preservative chemicals market based upon product type are chromated arsenicals, creosote, copper based, zinc based, and others. Copper based segment is further divided into ACQ, ACA, copper azole, copper naphthenate, and others. Amongst all, copper azole held the leading share of the market in 2016. The share of copper azole is expected to further rise in the future.
On the other hand, chromated arsenicals and creosote hold average share in the market. Going forward, the share of these segments is expected to decline due to their side effects and availability of substitutes. While zinc based currently holds average share in the market, the share of the segment is expected to be on the rise in the forthcoming years.
In terms of technology, the segments into which the global wood preservative chemicals market is segregated are waterborne, oil borne, organic solvent borne, and others. Other segment comprise powder based and UV based preservative chemicals. Of these, waterborne chemicals hold the leading share as they have fewer VOC emissions. Copper based preservative chemicals are mostly waterborne, which adds to their potential of garnering greater market share.
Oil borne chemicals such as creosote have been restricted in some regions such as North America and Europe. Hence, the share of oil borne chemicals is less compared to other segments of technology. Organic solvent borne segment is predicted to rise at a steady pace in the upcoming years.
The application segments of the wood preservative chemicals market that are considered in this report are construction, marine, furniture and decking, and others. Of them, furniture and decking accounts for the leading share in the market. Others segment held the leading share of the market amounting to a total consumption of 215.1 kilo tons in 2016. This was followed by furniture and decking segments. Construction segment held a relatively lesser share in the global wood preservative chemicals market in the same year. Regions such as North America and Europe make substantial use of wood in construction of houses and other structures, however, in Asia Pacific and the Middle East and Africa, the use of wood for construction purposes is quite less.
Rising Economic Prosperity Makes Asia Pacific Leader
North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa are segments of the market based upon geography. In 2016, Asia Pacific stood as the leading regional segment backed by the rising standard of living and expanding furniture and deking industry in the region. The region was trailed by North America and Europe that held the next major share in the global market.
Some key players operating in the global wood preservative chemicals market are BASF SE, Koppers Inc., Lonza Group, Lanxess, Troy Corporation, Safeguard Europe Ltd., Rütgers Organics GmbH, Rio Tinto Borates, and Kurt Obermeier GmbH.
Rapid Urbanization and Industrialization in Various Regions to Increase the Growth Opportunities across the Wood Preservative Chemicals Market
The wood preservative chemicals market is estimated to witness promising growth across the assessment period of 2017-2025 on the back of the rising urbanization levels and industrialization prospects. Numerous countries are encouraging industrialization, which will bring profitable growth opportunities for the wood preservative chemicals market.
- Wood preservative chemicals are prominently utilized for increasing the operational life of the logs, timber-engineered structures, and timber structures. The chemicals help in escalating the resistance of timber against harmful insects and fungi. The chemicals also assist in improving the durability of logs. Thus, the extensive benefits attached to the wood preservative chemicals will prove to be vital growth generators across the assessment period.
- The utilization of wood preservative chemicals in commercial, residential, and industrial applications on a large scale will prove to be a growth multiplier. The increase in spending of the government bodies of numerous countries on good infrastructure facilities has raised the demand for logs extensively. Hence, all these aspects bode well for the wood preservative chemicals market.
- The booming construction sector will prove to be a profitable growth generator for the wood preservative chemicals market. Urbanization has increased extensively across many regions and this aspect has led to an increase in the construction of commercial and residential buildings.
- The novel coronavirus pandemic has brought tremendous losses to almost all sectors and businesses. The wood preservative chemicals market is one of them. To stop the spread of the virus and ramp up the healthcare infrastructure on the grounds of the rising COVID-19 patients, many countries enforced strict lockdowns. These lockdowns resulted in the closure of manufacturing facilities and production units, declining the production and demand of wood preservative chemicals.
- Nevertheless, the opening up of the economy after the relaxations in COVID-19 restrictions is proving to be fruitful for the players in the wood preservative chemicals market.
Global Wood Preservative Chemicals Market: Overview
Wood preservative chemicals are chemicals that are applied on wood for preserving it from various organisms such as termites, ants, insects, fungi and other microbes. The product prevents the wood from decay, decomposition and degradation problem. The major products which are available as wood preservative chemicals are chromated arsenicals, creosote, copper based, zinc based and others. The wood preservative chemical is also available by various technologies such as waterborne, oil borne, organic solvent borne and others. Wood preservative chemicals find application in various industries from furniture’s to construction, etc.
Global Wood Preservative Chemicals Market: Scope of Study
The report estimates and forecasts the wood preservative chemicals market on the global, regional, and country levels. The study provides forecast between 2017 and 2025 based on volume (Kilo Tons) and revenue (US$ Mn) with 2016 as the base year. The report comprises an exhaustive value chain analysis for each of the product segments. It provides a comprehensive view of the market. Value chain analysis also offers detailed information about value addition at each stage. The study includes drivers and restraints for the wood preservative chemicals market along with their impact on demand during the forecast period. The study also provides key market indicators affecting the growth of the market. The report analyzes opportunities in the wood preservative chemicals market on the global and regional level. Drivers, restraints, and opportunities mentioned in the report are justified through quantitative and qualitative data. These have been verified through primary and secondary resources.
The report includes Porter’s Five Forces Model to determine the degree of competition in the wood preservative chemicals market. The report comprises a qualitative write-up on market attractiveness analysis, wherein applications and countries have been analyzed based on attractiveness for each region. Growth rate, market size, raw material availability, profit margin, impact strength, technology, competition, and other factors (such as environmental and legal) have been evaluated in order to derive the general attractiveness of the market. The report comprises price trend analysis for wood preservative chemicals between 2017 and 2025.
Global Wood Preservative Chemicals Market: Research Methodology
Secondary research sources that were typically referred to include, but were not limited to company websites, financial reports, annual reports, investor presentations, broker reports, and SEC filings. Other sources such as internal and external proprietary databases, statistical databases and market reports, news articles, national government documents, and webcasts specific to companies operating in the market have also been referred for the report.
In-depth interviews and discussions with a wide range of key opinion leaders and industry participants were conducted to compile this research report. Primary research represents the bulk of research efforts, supplemented by extensive secondary research. Key players’ product literature, annual reports, press releases, and relevant documents were reviewed for competitive analysis and market understanding. This helped in validating and strengthening secondary research findings. Primary research further helped in developing the analysis team’s expertise and market understanding.
Global Wood Preservative Chemicals Market: Market Segmentation
The study provides a comprehensive view of the wood preservative chemicals market by dividing it on the basis of end-use and geography segments. The wood preservative chemicals market has been segmented into furniture & decking, marine, construction and others based on end-use. End-users segment have been analyzed based on historic, present, and future trends.
Regional segmentation includes the current and forecast demand for wood preservative chemicals in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa (MEA). Additionally, the report comprises country-level analysis in terms of volume and revenue for application segments. Key countries such as the U.S., Canada, Germany, France, the U.K., Spain, Italy, India, China, Japan, Australia, New Zealand, South Africa, Mexico, and Brazil have been included in the study. Market segmentation includes demand for individual applications in all the regions and countries.
Global Wood Preservative Chemicals Market: Competitive Outlook
The report covers detailed competitive outlook that includes market share and profiles of key players operating in the global market. Key players profiled in the report includes BASF SE, Koppers Inc., Lonza Group, Lanxess, Troy Corporation, Safeguard Europe Ltd., Rütgers Organics GmbH, Rio Tinto Borates, Kurt Obermeier GmbH and others. Company profiles include attributes such as company overview, number of employees, brand overview, key competitors, business overview, business strategies, recent/key developments, acquisitions, and financial overview (wherever applicable).
The global wood preservative chemicals market has been segmented as follows: