The growing popularity of contemporary interior design is driving up need for wood preservatives. Wall body, wooden mural, wood carving, wood trim, skirting line, baluster, wood floor, and armrest and ceiling are all examples of modern interior design. The use of wood in the building of such innovative interior designs is expanding, which is driving up demand for wood preservatives. Wood preservatives are in greater demand as a result of building applications and the usage of wood in marine piling, utility fence, decking, and infrastructure is driving up demand for wood preservatives. Some of the primary factors limiting the growth of the global wood preservatives market are limited supply of wood and severe government regulations on the use of synthetic wood preservatives.
According to Coherent Market Insights, The Wood Preservatives Market was valued at US$ 1,377.8 Million in 2021 in terms of revenue, exhibiting a CAGR of 5.6% during the forecast period (2022 to 2030).
Leading Companies in the Wood Preservatives Industry:
1. LANXESS AG
LANXESS Aktiengesellschaft, a specialty chemicals company, develops, manufactures, and markets chemical intermediates, additives, specialty chemicals, and plastics worldwide. The company was founded in 1863 and is headquartered in Cologne, Germany. On July 2022, LANXESS has completed the acquisition of the microbial control business unit of the U.S. group International Flavors & Fragrances Inc. (IFF). LANXESS has now one of the world’s largest suppliers of microbial control and biocidal products.
2. Cabot Microelectronic
Cabot Microelectronics Corporation, headquartered in Aurora, Illinois, is a leading global supplier of consumable materials to semiconductor manufacturers and pipeline operators. On July 2022, Entegris acquired Cabot Microelectronics.
3. BASF Wolman GmbH
The company operates through six segments: Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition & Care, and Agricultural Solutions. BASF SE was founded in 1865 and is headquartered in Ludwigshafen am Rhein, Germany. BASF acquires Leuna-Miramid GmbH and further strengthens its leading position in engineering plastics in Europe
