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
NEWARK, Del., Nov. 6, 2023 /PRNewswire/ -- The wood preservative chemicals & coatings active ingredients market was estimated to be worth US$ 229.9 million in 2022. It is anticipated that the industry will be valued at US$ 240.1 million by the end of 2023. The global market for wood preservative chemicals & coatings active ingredients is anticipated to develop at an average pace of 4.90% CAGR during the forecast period, reaching a value of US$ 386.6 million by 2033.
The market for wood preservative chemicals and coatings active ingredients is primarily driven by the growing popularity of green wall as well as vertical garden installations. The growing trend of cities including more green spaces for environmental, aesthetic, and air quality reasons has increased the requirement for wood preservatives to preserve the wooden structures that support these green walls. The need to preserve the aesthetic appeal and structural integrity of the vertical gardens is what drives this specialized demand, which makes a unique contribution to the global market expansion.
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Key Takeaways from the Market Analysis
- The wood preservative chemicals & coatings active ingredients market in the United States is projected to expand at a rate of 4.20% CAGR.
- The market in the United Kingdom is anticipated to rise at a CAGR of 5.10% between 2023 and 2033.
- During the forecast period, Germany is expected to evolve at a CAGR of 6.30%.
- From 2023 to 2033, the market in China is projected to rise at a 5.40% CAGR.
- The India wood preservative chemicals & coatings active ingredients market is predicted to increase at a 6% CAGR.
- In 2023, the organic category is projected to reach a market share of 87.8%.
- The global market share of the UC 3 outdoor category is expected to reach 56.8% by 2023.
"The market for wood preservative chemicals and coatings active ingredients is primarily driven by the growing urbanization and construction, rising demand for environmentally friendly building methods, and an increase in outdoor recreation areas and wooden structures," remarks Nikhil Kaitwade, Associate Vice President at Future Market Insights (FMI).
Competitive Landscape
Developing innovative, affordable, and ecological wood preservation solutions is a crucial approach for businesses looking to break into the wood preservative chemicals and coatings active ingredients market. This will help them stand out in an increasingly competitive sector.
Within the wood preservative chemicals and coatings active ingredients sector, startups might investigate niche markets like specialist coatings for historical restoration or unusual uses like maritime wood preservation. Startups can create a presence in markets with less competition and more specialized client needs by targeting untapped niches.
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Key Developments
- In 2022, the American corporation International Flavors & Fragrances Inc. (IFF) accomplished a successful sale to the specialty chemicals company LANXESS of its microbial control business unit. After the deal was finalized, LANXESS became well-known as one of the largest worldwide suppliers of solutions for microbiological control. Two production facilities in the US have been added to LANXESS's network: Institute, West Virginia, and St. Charles, Louisiana.
- Lonza intended to build a new, large fill and finish facility for commercial pharmaceuticals in 2022 so that it could support customers at every point of the product cycle. Lonza invested around CHF 500 million in the plant to satisfy its strategic objective of offering a commercial fill and finish system that completes its whole value chain.
Top Key Players in the Market
- LANXESS AG
- Janssen Preservation & Material Protection
- 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.
- Troy Corporation
- Osaka Gas CHEMICALS Co., Ltd
- Wacker Chemie AG
- Chemsol Inc.
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More Valuable Insights Available
Future Market Insights offers an unbiased analysis of the global wood preservative chemicals & coatings active ingredients market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the global wood preservative chemicals & coatings active ingredients market, the market is segmented on the basis of active Ingredient Type (inorganic, organic, others), use class (UC 1/2 - indoor, UC 3 - outdoor, UC 4 - outdoor with ground contact, UC 5 - marine) and region (North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, The Middle East & Africa).
About the Chemicals and Materials Division at Future Market Insights
The chemicals and materials team at Future Market Insights offers expert analysis, time efficient research, and strategic recommendations with the objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 billion+ data points, the team has been analyzing the market lucidly in 50+ countries for over a decade. The team provides a brief analysis on key trends including competitive landscape, profit margin, and research development efforts.
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Author
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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