Wood Preservative Chemicals Market Size is Expected to Reach USD 3.2 Billion by 2034, Fueled by Growing Furniture Demand with 3.4% CAGR: Transparency Market Research
Wilmington, Delaware, United States, Transparency Market Research, Inc., Sept. 16, 2024 (GLOBE NEWSWIRE) -- The wood preservative chemicals market (목재 방부제 시장) was valued at US$ 2.1 billion in 2023. According to estimates, the market will grow at a CAGR of 3.4% from 2024 to 2034, reaching US$ 3.2 billion by then.
The demand for wood preservatives to shield wooden structures from rot, decay, and insect damage is rising as construction activities worldwide, especially in emerging nations, expand. Treated wood products are consumed in large quantities by the furniture industry. Due to the rising demand for furniture, particularly in emerging economies, effective wood preservatives will be increasingly needed to prolong its life and durability.
Government organizations like the Environmental Protection Agency (EPA) and the Food and Drug Administration (FDA) in the United States control the chemicals used as wood preservatives. Various organizations assess the safety of preservatives in commercial products and their potential environmental effects. The approval process includes evaluating any environmental and public health risks.
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Key Findings of the Market Report
- Based on the product, chromated arsenicals are expected to increase demand for wood preservative chemicals.
- In terms of technology, the waterborne segment will drive wood preservative chemical demand.
- Construction activities increase, leading to an increase in wood product demand.
- In terms of revenue, the Asia Pacific region had the highest growth rate in 2023
Global Wood Preservative Chemicals Market: Growth Drivers
- As people become more aware of the environmental effects of traditional wood preservatives, there is a movement toward sustainable and environmentally friendly alternatives. Thus, wood preservatives that are more environmentally friendly are developed through research and development by the industry.
- Several governments worldwide are restricting the use of wood preservatives to reduce pollutants and health hazards derived from harmful chemicals. Complying with these rules often requires adopting safer wood preservation chemicals.
- Technological developments continue to lead to the creation of increasingly potent and effective wood preservation compounds. These developments could lead to better delivery systems, application techniques, and formulations, raising the general effectiveness of wood treatment products.
- Maintaining and restoring wood structures takes a lot of preservatives, and there is an increasing focus on sustainable practices and preserving existing structures. These goods contribute to the lifespan extension of old wooden constructions, like bridges and ancient buildings.
Global Wood Preservative Chemicals Market: Regional Landscape
- Asia Pacific governments are investing heavily in constructing public buildings, utilities, and transportation networks. To maintain the structural integrity and long life of wooden structures, such as utility poles, railroad sleepers, and bridges, wood preservative chemicals are required.
- China, Vietnam, and Indonesia are major producers and exporters of furniture and woodworking products in this region. As these sectors expand, there is an ever-increasing need for wood preservatives to prevent rot, pests, and fungal growth.
- The Asia Pacific wood preservative industry is impacted by harsher laws governing the use of dangerous chemicals and growing environmental consciousness. Research and development are motivated by the need for environmentally friendly and low-toxic preservatives.
- Due to its technological inventiveness, the area is still researching and developing wood preservation technology. New developments in wood protection, like nano-coatings, micronized formulations, and green chemical techniques, provide more efficient and eco-friendly options.
- As many Asian Pacific nations strive to preserve biodiversity and natural resources, sustainable forestry techniques are becoming increasingly important. In addition to extending the life of harvested wood, preservatives reduce the need for new logging and contribute to sustainable forest management.
Global Wood Preservative Chemicals Market: Competitive Landscape
Recent trends in the wood preservative chemicals market include advancements in the construction industry and eco-friendly preservatives. Partnerships and acquisitions are two of the most common ways for industry leaders to expand their businesses.
They are investing in producing sustainable products as part of their commitment to meeting sustainability standards. Wood preservative chemical manufacturers promote their brands in global markets by implementing cutting-edge marketing strategies.
Key Market Players
- BASF SE
- Viance
- Koppers Inc.
- Lonza
- Lanxess
- Troy Group, Inc.
- Safeguard Europe Limited
- Rütgers Organics GmbH
- Rio Tinto
- Kurt Obermeier GmbH
- Janssen PMP
Key Developments
- In January 2022, Versalis (Eni) and Novamont partnered with specialty chemical company LANXESS in a joint venture to develop sustainable preservatives based on renewable raw materials. LANXESS' Matrìca plant at Porto Torres provides the raw materials for the new series of industrial preservatives LANXESS seeks to manufacture using vegetable oils.
- In April 2024, A wholly owned subsidiary of Koppers Holdings, Koppers Utility and Industrial Products Inc. (UIP), completed the acquisition of Brown Wood Preserving Company's assets. A cash payment of approximately $100 million was made for Brown Wood and certain affiliated companies (Brown Wood). Koppers UIP will take over the pressure-treated wood utility pole company Brown Wood.
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Global Wood Preservative Chemicals Market: Segmentation
Product
- Chromated Arsenicals
- Creosote
- Copper-based
- Alkaline Copper Quaternary
- Ammoniacal Copper Arsenite
- Copper Azole
- Copper Napthenate
- Others
- Zinc-based
- Others
Technology
- Waterborne
- Oil Borne
- Organic Solvent Borne
- Others
End User
- Furniture & Decking
- Marine
- Construction
- Others
Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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