Wood Preservative Market to Reach $2.1 billion, Globally, by 2033 at 5.5% CAGR: Allied Market Research

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Apr 30, 2024, 12:37 ET

Increasing awareness of environmental sustainability and green building practices drives demand for eco-friendly wood preservatives with low environmental impact and reduced toxicity. Manufacturers are developing water-based, bio-based, and eco-friendly wood preservatives as alternatives to traditional chemical treatments, meeting the preferences of environmentally-conscious consumers and businesses.

WILMINGTON, Del., April 30, 2024 /PRNewswire/ -- Allied Market Research published a report, titled, "Wood Preservative Market by Type (Water-based, Solvent-based, and Oil-based), and End-use (Residential, Commercial, and Industrial): Global Opportunity Analysis and Industry Forecast, 2024-2033". According to the report, the "wood preservative market" was valued at $1.3 billion in 2023, and is estimated to reach $2.1 billion by 2033, growing at a CAGR of 5.5% from 2024 to 2033.

Prime determinants of growth

Construction and infrastructure development sector is a significant driver for the wood preservative market. Wood preservatives are essential in protecting wood against decay, fungi, insects, and other environmental factors, thereby extending its lifespan and ensuring durability. However, fluctuations in the prices of raw materials is anticipated to hinder the growth of the market. Also, innovation and product development is expected to offer lucrative opportunities for market growth in the coming years.

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Report Coverage & Details:

Report Coverage	Details
Forecast Period	2024–2033
Base Year	2022
Market Size in 2023	$1.3 billion
Market Size in 2033	$2.1 billion
CAGR	5.5 %
No. of Pages in Report	250
Segments covered	Type, End-use Region.
Drivers	Construction and Infrastructure Development Growing Awareness About Sustainable Construction Practices
Opportunities	Innovation and product development.
Restraints	Fluctuations in the prices of raw materials

The water-based segment to maintain its lead position during the forecast period.

By type, the water-based segment accounted for the largest share in 2023, contributing to more than three-fourths of the global wood preservative market revenue, and is projected to grow at a CAGR of 5.4% from 2024 to 2033. Water-based wood preservatives offer a sustainable, safe, and effective solution for protecting and enhancing the performance of wood in various applications. With their environmental benefits, ease of application, quick drying time, excellent performance, durability, aesthetic appeal, and cost-effectiveness, water-based wood preservatives are gaining popularity among contractors, homeowners, and DIY enthusiasts seeking eco-friendly and high-quality wood treatment solutions.

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The residential segment to maintain its lead position during the forecast period.

By end-use, the residential segment accounted for the largest market share in 2023, contributing to more than two-thirds of the global wood preservative market revenue, and is projected to grow at a CAGR of 5.4% from 2024 to 2033. Wood preservatives are essential in residential construction, maintenance, and renovation projects, ensuring the durability, safety, and aesthetic appeal of wood structures and components. By protecting wood from decay, fungi, insects, moisture, and other environmental factors, wood preservatives help homeowners maintain a healthy, safe, and beautiful living environment while reducing maintenance and replacement costs and enhancing the value of their properties.

Asia-Pacific to maintain its dominance by 2032.

Based on region, Asia-Pacific held the highest market share in terms of revenue in 2023, accounting for around two-thirds of the global wood preservative market revenue and is likely to dominate the market during the forecast period with a CAGR of 5.7%. In the Asia-Pacific region, the use of wood preservatives is influenced by a variety of factors, including rapid urbanization, infrastructure development, housing construction, and the increasing awareness of sustainable building practices.

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Leading Market Players: -

BASF SE
Lonza Group
Koppers Inc.
Viance, LLC
Remmers Group
Troy Corporation
Borax Inc.
Lanxess AG
Dolphin Bay Chemicals
Kop-Coat, Inc.

The report provides a detailed analysis of these key players in the global wood preservative market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

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