Wood Preservatives Market to Register 5.4% CAGR through 2022, Projects M&M in Its Cutting-Edge Study Recently Uploaded at MarketPublishers.com
19 Sep 2017 • by Natalie Aster
LONDON – Worldwide, the wood preservatives sector is poised to increase from USD 1.61 billion as of 2017 to be estimated at USD 2.09 billion by end-2022, registering a 5.4% CAGR in the offing. A hike in the demand from different applications like residential, commercial, and industrial is the major factor propelling the growth of the market.
Meantime, the restricted consumption of wood preservatives owing to the dearth of awareness in the emerging nations acts as a hindrance to the sector’s growth.
Based on application, industrial is set to be the most rapidly evolving segment over the projected period. Utility poles capture the dominant share of the industrial use of wood preservatives. North America is the leader in this segment. The surging demand for treated wood in various industrial applications is set to fuel the wood preservatives market in the offing.
In terms of formulation, the water-based segment is anticipated to register the fastest CAGR through to 2022. The benefits of water-based wood preservatives such as superior performance characteristics, and adherence to VOC regulations, among others, are driving the overall wood preservatives market growth.
North America is likely to be the biggest market for wood preservatives in the foreseeable future. The USA grabbed the largest share of the regional market as of 2016. Canada and the USA have huge forest areas and large amounts of wood available to meet the requirement of end-use applications.
Lonza, KMG Chemicals, Koopers, LANXESS, BASF Wolman, Troy Corporation, Dolphin Bay, Remmers, Viance, and Wykamol, amid others, are the outstanding players in the market.
In-demand research study “Wood Preservative Market by Formulation, Application, and Region - Global Forecast to 2022” drawn up by M&M provides a granular analysis of the market globally. It categorises the market based on formulation, application, and by region. The report sheds light on the major factors impacting the growth of the market, like drivers, stumbling blocks, challenges, and key opportunities. The study offers estimates of the market size for the total global market and its sub-segments in regions. It includes a detailed discussion of leading industry players, giving insights into businesses, services and products lines, major strategies, investments and NPD, M&As, and other recent developments related to the market. Detailed outlook of the market is also provided in the study.
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