What's driving the Wood Preservatives Market trends? Major Players are BASF Wolman GmbH, Borax Inc., KMG Chemicals Inc., Koppers Inc., Remmers AG Kurt Obermeier GmbH & Co. KG, Among Others.

Wood preservatives such as copper azoles, synthetic pyrethroids, creosote and various other preservatives, are the chemicals applied on wood to preserve it from fungi, insects, termites, ants, and other microbes. 

Growth of wood preservatives market is fueled by the use of wood in marine piling, utility fencing, decking, and in infrastructure. The U.K. government invested US$ 7.09 Bn on infrastructure development in 2016, which in turn led to high demand for wood, thereby, propelling growth of the wood preservatives market.

Demand for wood preservatives is increasing owing to shifting preference of consumers towards using eco-friendly wood preservatives. For instance, Ammonium Copper Quaternary (ACQ), a new generation compound, is extensively being used as an alternative to Chromated Copper Arsenate (CCA), which are wood preservatives. ACQ is being used for treatment of wood used in agriculture poles and structural timber. It aids in improving the durability of the wood being treated.

In the formulation segments, water based segment dominated the wood preservatives market in 2016, and is projected retain its dominance over the forecast period, expanding at a CAGR of 6.29%. This is owing to its wide use in residential and commercial applications. This preservative is widely used as it is easy to handle, provides cleaner finish, and is more eco-friendly compared to other formulations. Water based wood preservatives also provide longer retention time and leaves the surface of the wood dry and clean and allowing it to be painted after the treatment.

In terms of revenue, North America dominated the wood preservatives market in 2016, accounting for 40.28% share. This is due to extensive use of wood in the residential sector in the region.

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Asia Pacific is projected to be the fastest growing region in the wood preservatives market, witnessing a CAGR of 7.56% during the forecast period. Growth in this region is attributed to rising standard of living, increasing commercial housing activities, and increasing industrial construction.

Among applications, the residential and commercial segment accounted for a dominant market share of 78.69% in 2016. This is attributed to increasing demand for wood from the infrastructure sector for flooring and wooden furniture. Furthermore, rising popularity of wood as a renewable and sustainable building material with lowest carbon footprint has led to its rampant use in the construction industry. This is another factor expected to drive growth of the wood preservatives 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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