Wood Preservatives Market worth $1.7 billion by 2025 - Exclusive Report by MarketsandMarkets™
CHICAGO, Nov. 5, 2020 /PRNewswire/ -- According to the new market research report "Wood Preservatives Market by Formulation (Water-Based, Oil-Based, Solvent-Based), Application (Residential, Commercial, Industrial), and Region (North America, APAC, Europe, South America, Middle East and Africa) - Global Forecast to 2025", published by MarketsandMarkets™, the global Wood Preservatives Market size is expected to grow from USD 1.3 billion in 2020 to USD 1.7 billion by 2025, at a CAGR of 5.1 % during the forecast period. Wood preservatives are used across the application, such as residential, commercial, and industrial. In the wood preservatives market, residential is the key end-use industry owing to the wide applications of these wood preservatives market.
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The water-based wood preservatives formulation segment is expected to register the highest CAGR in the global wood preservatives market during the forecast period.
The water-based will continue to lead the wood preservatives market, accounting for a share of 75% of the overall market in 2019 terms of value. This was due to the increasing demand for water-based wood preservatives in the decking, fencing, and landscaping sub-applications are expected to witness high growth in the next five years. The effectiveness of the copper-based wood preservatives has increased their demand in the wood preservatives market. Most of the copper-based wood preservatives are water-based formulations. Therefore, the water-based wood preservatives market is expected to dominate, globally, during the forecast period.
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North America is expected to hold the largest market share in the global wood preservatives market during the forecast period.
North America accounted for the largest share of the wood preservatives market in 2020. The demand for wood preservatives is increasing in North America due to the increased usage of wood in the residential and industrial sectors. The rising construction industry, supported by heavy investments for infrastructural developments, is providing new opportunities for the wood preservatives manufacturers operating in this region.
Koppers (US), Lonza (Switzerland), Lanxess (Germany), Cabot Microelectronics (US), BASF Wolman (Germany), and Troy (US) are the leading wood preservatives manufacturers globally.
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