Anincrease in standard of living worldwide and a development of taste for allthings wooden has a positive bearing on wood industry and on its ancillaryindustries. The steady growth observed in the global wood preservativechemicals market overthe last few years is, therefore, expected to continue. It would further beboosted by economic development in many parts of the world, mainly as anoutcome of industrialisation which is witnessing high levels of urbanization.
Asper a research study by Transparency Market Research, global wood preservativechemicals market was worth USD 1663.2 mn in 2016, and is looking at a CompoundAnnual Growth Rate of 3.7% between 2017 and 2025. This can be pegged as amarket worth of USD 2284.2 mn by the end of 2025.
Competition willIncrease Further in 2017-2025
Themarket is highly fragmented, and competitive due to presence of a large numberof manufacturers, and is bound to remain so in the coming years with moreplayers foraying into the market. Prominent players in the global woodpreservative chemicals market are BASF SE, Koppers Inc., Lonza Group, Lanxess,Troy Corporation, Safeguard Europe Ltd., Rütgers Organics GmbH, Rio TintoBorates, and Kurt Obermeier GmbH.
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Risingeconomic prosperity (standard of living) and expanding furniture and dekingindustries will keep Asia Pacific ahead on the growth curve in the global woodpreservative chemicals market. Another region that would be leading the chartsis North America, credit a rise in use of wood in interior designing, cites theTMR report.
WaterBorne Chemicals will See an Increase in Demand:
Comparedwith oil borne and organic solvent borne segment, water borne chemicals are setto fare better as they have less VOC emissions and are thus, good for theenvironment. Besides, as copper borne preservative chemicals are much indemand, which are also water-borne, it looks like good news for this segment ofthe global wood preservative chemicals market. There is a rise in the demandfor these preservatives from the developing economies. Organic solvent bornepreservatives market would also report a steady growth.
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Theglobal wood preservative chemicals market will see an upward trajectory alsobecause of technological advancements made in the field. Besides, thegovernment and even the private sector is investing in infrastructure such asresidential buildings, educational institutes and so on, generating more demandfor wood and its ancillary industries.
HeavyPockets to Drive Lifestyle Changes, Thus Impact Growth
Lifestylechange coupled with increased purchasing power is causing a massive tilttowards wooden interiors ((furniture, fixtures, etc.) globally, not just inhomes but also at work places. And, wooden goods are expensive. So, as aconsequence, consumers feel the need to protect the goods, which in turn isproviding a boost to the wooden preservative chemicals market by generating asteady demand.
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StringentGovernment Regulations Pose a Challenge
Oneof the major restrains in the global wood preservative chemicals market is thelimitations imposed on consumption due to low levels of awareness. Besides, insome countries/areas, environmental agencies/government has banned/restricteduse of certain wood preservative chemicals such as CCA, creosote, andpentachlorophenol.
Onesuch example is the use of oil borne preservative chemicals which arerestricted in certain areas such as Europe and North America. It is importantto note here that despite restraints, the outlook remains positive in the globalwood preservative chemicals market.
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