New York, Sept. 22, 2023 (GLOBE NEWSWIRE) -- In 2018, the market for active chemicals and coatings for wood preservation was valued at US$ 208 million. From 2018 to 2022, the market grew at a 4.2% CAGR, reaching US$ 240.1 million in 2023. The market is expected to grow at a CAGR of 4.9% in the next years, reaching US$ 386.3 million by 2033.
Wood preservation is a critical aspect of the construction and woodworking industries, aimed at enhancing the durability and longevity of wood products. Wood preservative chemicals and coatings active ingredients play a pivotal role in protecting wood against decay, rot, insect infestations, and weathering.
This research report provides a comprehensive analysis of the global wood preservative chemicals and coatings active ingredients market, including market trends, growth drivers, challenges, and future prospects.
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Wood preservation has been practiced for centuries, and its importance continues to grow in the modern construction and forestry industries. The primary objective of wood preservatives is to extend the service life of wood products and reduce the environmental impact of wood disposal.
Wood preservative chemicals and coatings active ingredients are essential components of this industry, ensuring that wood remains a viable and sustainable construction material.
Market Drivers
Increasing Construction Activities: The global construction industry is experiencing robust growth, with rising demand for treated wood in various applications such as residential buildings, bridges, and marine structures. Wood preservative chemicals and coatings active ingredients are crucial in ensuring the longevity of wooden components in these structures.
Environmental Concerns: Growing awareness of environmental sustainability and the desire to reduce the carbon footprint has led to the increased use of wood as a renewable building material. Wood preservatives help enhance the durability of wood products, reducing the need for frequent replacements and contributing to sustainability goals.
Regulations and Standards: Stringent regulations and standards related to wood preservation and safety have boosted the demand for advanced wood preservatives that are both effective and eco-friendly. Manufacturers are investing in research and development to meet these requirements.
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Market Challenges
Environmental Concerns: While wood preservation is essential, there are concerns about the environmental impact of certain wood preservatives, especially those containing toxic chemicals. This has led to a shift towards eco-friendly alternatives, which can be costlier and less effective.
Competition from Alternative Materials: Wood faces competition from alternative building materials like steel, concrete, and plastics. To remain competitive, wood must not only meet performance standards but also be cost-effective.
Market Segmentation
- By Active Ingredient Type: Inorganic, Organic, Azoles, Propiconazole, Tebuconazole, Others (Cyproconazole, etc.), Others
- By Use Class: UC 1/2 – Indoor, UC 3 – Outdoor, UC 4 – Outdoor with Ground Contact, UC 5 – Marine
Regional Analysis
The wood preservative chemicals and coatings active ingredients market is regionally diverse, with significant growth in regions like North America, Europe, and Asia-Pacific. North America is a major consumer of wood preservatives due to its thriving construction industry, while Europe has stringent regulations that drive innovation in wood preservation technologies. The Asia-Pacific region is witnessing rapid urbanization, contributing to increased wood preservation demand.
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Competitive Landscape
The market for active ingredients in wood preservation chemicals and coatings is fairly consolidated, with a few major producers controlling a sizeable portion of the market. For the purpose of achieving continuous development of both products and services, many manufacturers are shifting their emphasis to the installation of long-term supply chain links. Companies can outsource non-essential tasks through partnerships with reliable contractors, reducing internal workloads and increasing productivity.
Key players in the wood preservative chemicals and coatings active ingredients market include:
Lanxess AG, Janssen Preservation & Material Protection, Lonza Group AG, Akzo Nobel N.V., PPG Industries, Inc., Wolman GmbH, Kurt Obermeier GmbH & Co. KG, RUTGERS Organics GmbH, Sarpap & Cecil Industries, Koopers Holdings Inc, Troy Corporation
Future Outlook
The wood preservative chemicals and coatings active ingredients market is expected to continue growing as the construction industry expands, and environmental regulations become more stringent. Innovations in eco-friendly wood preservatives and coatings are likely to gain prominence, as sustainability becomes a key focus. Additionally, market players may explore new applications for wood preservation in non-traditional sectors, such as the automotive and aerospace industries.
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