Increasing demand for wooden furniture is driving the wood preservatives market
- Himanshu Patni
- November 19, 2022
- Wood Preservatives Market, Wood Preservatives Market Analysis, Wood Preservatives Market Growth, Wood Preservatives Market Share, Wood Preservatives Market Size, Wood Preservatives Market Trends
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The global wood preservatives market is likely to showcase a growth of around 5% during the forecast period. This can be ascribed to the increasing consumer inclination towards wood-based furniture across the residential and commercial settings owing to its aesthetics, low-cost and weight, and ability to make custom design easily relative to metal-based furniture.
Increasing demand for better quality products, growing awareness regarding the benefits of wood protection chemicals in developing nations, rapid urbanization coupled with improving per capita income, and changing family structures are some of the key attributable factors for the growing consumption of wood preservatives. Consumers prefer wooden furniture over other materials like metal in domestic and commercial settings due to its aesthetics, ease to create designer furniture, and low-cost and weight compared to metal-based products. Therefore, with rising residential and commercial construction projects, the demand for wooden products is increasing. Further, to protect the wood from degradation, consumers look for a protection chemical treated wooden products, as a result, wooden product manufacturers or contractors are increasingly using wood preservatives to provide the desired product to customers.
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Based on formulation, the market is categorized into water-based, oil-based, and solvent-based. Among these, water-based accounted for a significant share in the market and is likely to retain its position during the forecast period. Consumers prefer water-based wood preservatives over other counterparts owing to their less toxic nature. Further, studies show that using conventional wood preservatives has a negative impact on human beings, thereby consumers opt for water-based wood preservatives.
Based on application, the market is categorized into residential, commercial, and industrial. Among these, residential accounted for a significant share owing to the high penetration rate of wooden products in the household compared to commercial and industrial settings. Moreover, changing family structure i.e., shift toward nuclear family is increasing the demand for new houses, thereby increasing the consumption of the wooden product in building construction and interior work. For instance, according to Invest India, as of 2022, the proportion of nuclear households has reached 70% and is projected to increase to 74% by 2025. They spend 30% more per capita than joint families.
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For a better understanding of the market adoption of wood preservatives, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, Rest of North America), Europe (Germany, UK, France, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. Asia-Pacific accounted for a significant share of the market and is expected to showcase substantial growth during the forecast period owing to the large and growing number of residential settings in the region. Further, increasing awareness about the benefit of wood preservatives along with improving per capita of the regional population helped the region in maintaining a strong position in the market.
Global Wood Preservatives Market Segmentation
Market Insight, by Formulation
Market Insight, by Application
Market Insight, by Region
- North America Wood Preservatives Market
- United States
- Rest of North America
- Europe Wood Preservatives Market
- United Kingdom
- Rest of Europe
- Asia-Pacific Wood Preservatives Market
- Rest of Asia-Pacific
- Rest of World Wood Preservatives Market
Top Company Profiles
- Koppers Inc.
- Lonza Group AG
- Lanxess AG
- BASF SE
- Troy Corporation
- Remmers Gruppe AG
- Copper Care Wood Preservatives Inc.
- RÜTGERS Organics GmbH
- Viance LLC
- Janssen Pharmaceutica NV