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Global Wood Preservatives Market Overview 2033 : Forecasted Market Size And Growth Rate
Wood Preservatives Global Market Report 2024
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According to The Business Research Company's, The wood preservatives market size has grown strongly in recent years. It will grow from $1.89 billion in 2023 to $2.02 billion in 2024 at a compound annual growth rate (CAGR) of 7.0%. The growth in the historic period can be attributed to construction and infrastructure growth, environmental regulations, governmnet support, growth in furniture industry, economic growth.
The wood preservatives market size is expected to see strong growth in the next few years. It will grow to $2.68 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%. The growth in the forecast period can be attributed to rise in urbanization, rise in marine industry, awareness of wood decay, investments in research and development, rise in disposable income. Major trends in the forecast period include sustainable sourcing of wood, customized solutions, digitization and monitoring, water-based preservatives, collaboration and partnership.
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Market Drivers and Trends:
An increase in demand for wood in various applications is expected to drive the market growth of wood preservatives during the forecast period. Due to the increase in population and industrialization, the demand for wood products is growing across the globe. Wood is a rich source of energy, housing, firewood, timber, and fodder; therefore, the demand for wood is improving from various applications such as construction, pulp and paper, furniture, and others. For instance, in September 2021, according to a report published by the International Tropical Timber Organization, a Japan-based intergovernmental organization for the conservation of tropical forest resources, the demand for wood by """"plywood and other wood-based industries"""" is expected to increase sharply from 15 million m3 in 2021 to more than 57 million m3 in 2030. The furniture industry's demand for roundwood is expected to rise at a slower rate, from 9 million m3 in 2021 to around 13 million m3 in 2030. Thus, the growing demand for wood in various applications increases the demand for wood preservatives, thereby driving the market.
Major players operating in the wood preservatives market are continuously investing in research and development (R&D) activities to manufacture eco-friendly wood preservatives, which is a key trend in the wood preservatives market. Considering the environmental rules and regulations, the wood preservative manufacturers are developing natural or eco-friendly wood preservatives so that they will be less harmful to the environment. For instance, in November 2021, Viance LLC, US-based Company that provides wood treatment technologies launched UltraPole NXT with technology. UltraPole NXT is a wood utility pole and crossarm preservative system that provides long-term efficacy with low environmental impact. The active ingredient DCOI (4,5-Dichloro-2-n-octyl-4-isothiazolin-3-one) does its job as a highly effective wood preservative. DCOI that enters the environment degrades rapidly.
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Major Key Players of the Market:
BASF SE, Advanced Agriresearch Limited, Borax Inc., Buckman Laboratories International Inc., Cooper Care Wood Preservatives Inc., Dattashri Enterprises, Januaryssen Global Services LLC., Jubilant Life Sciences, KMG Chemicals Inc., Koppers Inc., Kurt Obermeier GmbH & Co. KG, Lanxess AG, Lapeyre SA, Lonza Group, Nisus Corporation, Osmose Inc., Quality Borate LLC., Remmers Gruppe AG, Troy Corporation, Arbolito SA, Chemonit SA, Chomarat Group, Daebong LS Co.Ltd., Dolphin Bay Chemicals Ltd., Draslovka Holding B.V., Durapak Wood Ltd., EcoWood Ltd., Janssen Pharmaceutica NV, Jyoti Chemicals, Kop-Coat Inc., Bernhard Remmers Institute of Analytics, RENTOKIL INITIAL FRANCE, Rotho Blaas GmbH, Rütgers Organics GmbH, Safeguard Europe Ltd.
Wood Preservatives Market 2024 Key Insights:
• The wood preservatives market size is expected to see strong growth in the next few years. It will grow to $2.68 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%.
• Rising Global Wood Demand Boosts Wood Preservatives Market Growth
• Wood Preservative Industry Embraces Eco-Friendly Innovations
• North America was the largest region in the wood preservatives market in 2023
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