Global wood preservatives market was valued at US$ 1.23 Bn in 2016, according to Global Wood Preservatives Market by Formulation (Water Based, Solvent Based, and Oil Based), by Application (Residential & Commercial, Industrial), published by Coherent Market Insights. The wood preservatives market is expected to register a CAGR of 6.16% over the forecast period (2017–2025) to reach US$ 2.07 Bn by 2025.
Major factors propelling growth of this market include rise in the use of wood in the interior decoration in developed and developing countries. However, government restrictions on the use of hazardous chemicals such as arsenic and chromium and increasing initiatives to reduce deforestation has hindered growth of the wood preservatives market.
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Browse 100 market data tables* and 60 figures* on "Wood Preservatives Market”- Global forecast to 2025.
Key Trends and Analysis of Wood Preservatives Market:
Based on formulation, the water based segment held dominant position in the global wood preservatives market in 2016 and is expected to retain its dominance throughout the forecast period. This is attributed to advantages of water-based formulation such as adhesiveness to wood that has been painted with an oil-based formulation, maintenance of quality of color for a longer duration, rapid drying, no harmful fumes or odor, and low tendency to being flammable.
Among applications, residential and commercial segment accounted for the largest share in the wood preservatives market in 2016. This is due to use of wood preservatives in structural roof decking and landscaping in the residential and commercial buildings. Furthermore, preference of the populace towards wooden houses and increasing use of wooden decoration is a major factor that contributes to growth of this segment.
Key Takeaways of the Market:
Major players operating in the global wood preservatives market include BASF Wolman GmbH, Borax Inc., KMG Chemicals Inc., Koppers Inc., Remmers AG, Kurt Obermeier GmbH & Co. KG, LANXESS AG, Kop-Coat Inc., and Lonza Group Ltd.
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