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Wood preservative chemicals and coatings active ingredient market| Coherent Market Insights

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Wood preservative chemicals and coatings active ingredient market| Coherent Market Insights

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  1. Market Research and Business Consulting Services https://www.coherentmarketinsights.com/ Covid-19 Impact Tracker Coherent Market Insights

  2. WOOD PRESERVATIVE CHEMICALS AND COATINGS ACTIVE INGREDIENT MARKET ANALYSIS • Wood Preservative Chemicals and Coatings Active Ingredient Market, 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 ), and By Region ( North America, Latin America, Europe, Asia- Pacific, Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2019 - 2027

  3. The global wood preservative chemicals and coatings active ingredient market is projected to surpass US$ 250 million by the end of 2027, in terms of revenue, growing at CAGR of 3.6% during the forecast period (2019 to 2027).

  4. Drivers • The growing popularity of wood and wood-based products across indoor and outdoor applications due to their versatility and abundance is primarily fueling the market growth of wood preservative chemicals and coatings active ingredients. Wood is cost-effective, offer ease and efficiency in construction and sustainability make wood material of choice for many end-uses. Growing need to enhance the service life of wood against harsh environmental factors and insects is projected to create the demand for wood preservative chemicals and coatings and active ingredients, which in turn accelerating the market growth over the forecast period.

  5. Expanding chemical industry around especially in Asia Pacific region is estimated to propel the market growth of wood preservative chemicals and coatings active ingredients. According to the report published by The Economic Times in October 2018, The Indian chemical industry is projected to grow at around 9% per annum to reach US$ 304 billion by 2025, from US$ 163 billion in 2018. The growth is likely to be driven by rising demand in end-use segments for specialty chemicals and petrochemicals intermediates.

  6. Figure 1. Global Wood Preservative Chemicals and Coatings Active Ingredient Market, Revenue Share (%), By Region, 2018

  7. Market Restraints • Changing environmental rules and regulations regarding wood preservative chemicals and coatings active ingredient across developed economies such as the U.S., Germany, and France, for example, Biocidal Products Regulation (BPR), REACH, Classification, Labelling and Packaging (CLP), VOC’s is restricting market growth. Moreover, these changes in rules and policies negatively impact the production of the active ingredient, which is further anticipated to hinder the market growth.

  8. Wood preservative chemicals and coatings active ingredients have released toxic odor which harmful for humans as well as animal health. Also, some coatings provide less physical protection to wood as compared to creosote. Moreover, the wood preservative chemicals and coatings active ingredient does not offer protection from extremely harsh weather conditions. Therefore, the aforementioned factors are expected to hinder the market growth over the forecast timeframe.

  9. Market Opportunities • Expanding furniture industry especially in U.S. region is expected to foster the market growth of wood preservative chemicals and coatings active ingredient. According to the US Census Bureau, approximately over 87,000 establishments are bringing in annual revenue of US$ 120 million a year and the total market size of the furniture industry, accounting for related accessories, floor coverings and draperies operate within a US$ 30 billion industry. The value of all furniture and furnishing store sales in the U.S. was estimated around US$ 9.8 billion in 2019.

  10. Growing demand for treated wood in infrastructure projects due to growing need for furniture protection against fungi and insects is estimated to offer immense growth opportunity to the market of wood preservative chemicals and coatings active ingredient. Growing population base rate accelerating the growth of residential buildings. Aforementioned factors are expected to foster the market growth of the wood preservative chemicals and coatings active ingredient over the forecast period. 

  11. Figure 2. Global Wood Preservative Chemicals and Coatings Active Ingredient Market – Opportunity Analysis

  12. Market Trends • Increasing the use of water-borne coatings especially in U.S. and Canada is expected to augment the market growth of wood preservative chemicals and coatings active ingredient. Moreover, rising awareness among the consumers regarding the benefits of eco-friendly products such as fast curing and high production efficiency is further anticipated to foster the market growth of wood preservative chemicals and coatings active ingredient over the forecast period.

  13. Rising demand for active ingredients for outdoor application is expected to propel the market growth of preservative chemicals and coatings active ingredient over the forecast period. Due to the growing environmental and public concern overuse of bioactive chemicals, the various manufacturer has increased their focus on the development of organic wood preservatives especially for residential applications and other construction applications. This factor is expected to foster market growth.

  14. Figure 3. Global Wood Preservative Chemicals andCoatings Active Ingredient Market, Revenue Share (%),By Use Class, in 2018

  15. Regulations • Regulations for Storage of Preservatives (Europe) • All the pesticides must be stored in a tightly closed original container and in a safe place • All the chemicals must be stored in a dry and well-ventilated locked area. They must be kept in sealed containers whenever possible • Protect liquid storage against tank rupture and protect concrete against freezing, cracking and spillage • In case of spills, leaks or flooding, one must ensure that runoff will drain into a disposal system • Always read all the label requirements and material safety data sheet (MSDS) for each preservative

  16. Competitive Section • Key players operating in the global wood preservative chemicals and coatings active ingredient market are Lanxess AG, Janssen Pharmaceutica NV, Lonza Group AG, Akzo Nobel N.V., PPG Industries, Inc., BASF Wolman GmbH, Kurt Obermeier GmbH & Co. KG, RUTGERS Organics GmbH, Sarpap & Cecil Industries, Koopers Holdings Inc., and Troy Corporation

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