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Report Code: CM10622
Category : Building & Construction Utilities
Some of the drivers behind the growing demand of global wood preservation chemical market include bounce back in residential construction activity, which in turn profits the several applications where wood preservatives are utilized, such as furniture, decking, and siding. Further advances are expected to be limited by the increasing utilization of non-wood materials in several key applications. For example, preservatives will be limited in siding, where the demand of wood is expected to reduce and faces huge competition from the substitutes. Despite the fact, wood still commands the decking applications, the plastic composite decking keeps on disintegrating wood's share, which likewise decreases wood protection product sales.
Construction industry has been growing significantly over the globe, and acts as one of the important factors for driving the growth of the wood preservation chemicals market during the recent couple of years. In addition, the U.S. construction market has further supported the wood preservation chemicals market. The pattern is anticipated to continue during the forecast period, and is led by continued growth of the worldwide construction industry joined with the recovery of the construction business in the U.S. Wood is broadly utilized as a part of the construction of wood foundations, railroad crossties, walkways, shelters, bridges, sound walls, and others. The significant growth in the furniture business is another important growth driver for the wood preservation chemicals market. The demand for premium wood furniture is surging, owing to increase in disposable income across the globe. Premium wood furniture can be treated with different wood protection chemicals to protect it for longer duration. This is evaluated to further increase the business sector during the forecast period. Asia-Pacific is anticipated to be the epicenter of blast in the development business, with nations, such as, China, India, and Indonesia putting investment into the construction market. The growth in the construction business is expected to fuel the growth of the global wood preservation chemicals market.
Based on product type, the global wood preservation chemicals market is segmented into oil-borne preservatives, light organic solvent preservatives, water-borne preservatives and others. In terms of production, the water-borne preservatives accounted for around 65% share of the global wood preservation chemicals market in 2014. In addition, the water-borne preservatives segment is expected to be the major product type during the forecast period.
Based on end-use industry, the global wood preservation chemicals market is segmented into construction, marine, furniture and decking, and others. The major end-use industries of wood preservation chemicals are construction and furniture, and decking. The construction sector accounted for the largest market share in the end-use segment of the global wood preservation chemicals market in 2014. Around 37% of the global wood preservation chemicals produced in 2014 was utilized in the construction industry.
Geographically, Asia-Pacific is the largest market for wood preservation chemicals followed by North America and Europe. During the forecast period, the Asia-Pacific wood preservation chemicals market is expected to grow at the fastest rate, owing to increased industrial and construction activities in the region.
Some of the major competitors in the global wood preservation chemicals market include KMG Chemicals, Kop-Coat Inc., RÜTGERS Group, Koppers Holdings Inc., Janssen Preservation & Material Protection, Viance LLC, LANXESS AG, Rio Tinto Minerals, Lonza Group Ltd., and BASF Wolman GmbH.
Global Wood Preservation Chemicals Market Segmentation
By Product Type
By End-Use Industry
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