The global wood preservative chemicals & coatings active ingredients market stands at US$ 218.5 Mn as of now and is expected to reach US$ 320.3 Mn by the year 2032 at a CAGR of 3.9% between 2022 and 2032.
Wood preservation chemicals, as the name suggests, render protection against fungi and insets that attack the wooden surface. There are several kinds of active ingredients used in wood preservative chemicals and coatings – like inorganic and organic ingredients.
Wood preservative chemicals & coatings active ingredients do improvise on wood’s life span by keeping it away from the environmental factors like UV rays, mechanical abrasion, and household chemical attacks.
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Indoor as well as outdoor applications are inclined towards wood-based products owing to the aesthetics revolving around them. As such, the requirements of wood-based products are expected to increase in residential buildings, educational institutions, hospitals, and offices.
Furniture vertical is expanding at a rapid pace all across the US, which is expected to catalyze the wood preservative chemicals & coatings active ingredients market in the forecast period. The US Census Bureau has stated that more than 87K establishments record ~US$ 120 Mn every single year and furniture industry has turned out to be worth US$ 30 Bn. As of the year 2019, furniture and furnishing store sales market was worth ~US$ 9 Bn.
Infrastructure expansion projects are witnessing a rising demand for treated wood due to inevitability of protection of furniture against insects and fungi. This is another factor driving the wood preservative chemicals & coatings active ingredients market.
Also, water-borne coatings are being increasingly used in Canada and the US. Plus, rising awareness regarding advantages of the environmentally-friendly products like wood is expected to take the entire wood preservative chemicals & coatings active ingredients market by storm in the near future.
At the same time, the fact that developed economies like France, Germany, and the US are subject to altering environmental rules as well as regulations with regards to wood preservative chemicals and coatings active ingredients can’t be ignored. Along these lines, Biocidal Products Regulation (BPR), CLP (Classification, Labelling and Packaging), REACH, and VOC’s are restraining the market. It has also been observed that wood preservative chemicals and coatings active ingredients release toxic odor, which is hazardous for animals as well as humans. These active ingredients also do not render any protection against tough weather conditions. This is another factor hindering the market. Future Market Insights has, with the help of its team of analysts and consultants, entailed these findings with insights in its latest market study entitled “Wood Preservative Chemicals & Coatings Active Ingredients Market”.
Key Takeaways from Wood Preservative Chemicals & Coatings Active Ingredients Market
- The US holds 17.3% of the overall market share and the status quo is expected to remain the same even in the forecast period due to consistent demand for water-borne coatings.
- The Asia-Pacific is expected to move at a significant pace in the wood preservative chemicals & coatings market due to rapid expansion in Japan, India, and China.
“Demand for eco-friendly products of décor to keep the hopes high for wood preservative chemicals & coatings active ingredients market”, says an analyst from Future Market Insights.
Competitive Landscape
- Lanxess AG, in January 2022, decided upon expanding the active ingredient preservative’s – preventol CMK’s capacity by 50%. It looks forward to invest $1 Mn Euros in its site based out of Krefeld-Uerdingen (Germany).
- Lonza Group AG, in March 2019, tabled 2 novel products as a part of its Proxel range – Proxel LSR and Proxel HBC.
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What does the Report Cover?
- Future Market Insights offers an exclusive perspective and various real-time insights on the wood preservative chemicals & coatings active ingredients market in its latest study, presenting historical demand assessment of 2016 – 2021 and projections for 2022 – 2032.
- The research study is based on active ingredient type (inorganic and organic (azoles (propiconazole, tebuconazole, cyproconazole, and likewise), and others), and by use class (UC ½ – indoor, UC 3 – outdoor, UC 4 – outdoor with ground contact, and UC 5 – marine).
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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