A research report on global wood preservation chemicals market from Transparency Market Research offers the latest market insights. The report is titled, “Wood Preservation Chemicals Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023”.According to this report, the global wood preservation chemicals market will expand at a CAGR of 3.40% during the forecast period from 2015 to 2023. In 2014, the global wood preservation chemicals market was worth over US$1.5 bn and by 2023, it will be worth more than US$2.1 bn.
Wood is used in the construction industry on a wide scale to make wood foundations, sound barriers, bridges, shelters, walkways, railroad crossties, etc. These structures need wood preservation chemicals in order to protect them against decomposition, decay, and fire, adding to the demand for wood preservation chemicals. The global wood preservation chemicals market will be driven by the rapidly expanding construction industry worldwide and the recovery of the construction sector in the U.S.
Furthermore, the expanding wood furniture industry will also positively impact the global wood preservation chemicals market. On the hand, the global wood preservation chemicals market will be challenged by the strict regulations implemented by the U.S. Environmental Protection Agency (EPA).
Product-wise, the global wood preservation chemicals market is segmented into light organic solvent preservatives, oil-borne preservatives, water-borne preservatives, and others. The segment of water-borne preservatives accounted for a two-third share of the global wood preservation chemicals market in 2014. These preservatives are the preferred choice of wood preservation chemicals in several end-use industries. The water-borne preservatives segment is expected to continue its dominance during the forecasting horizon.
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By end-use, the global wood preservation chemicals market is divided into construction, marine, furniture and decking, and others. In 2014, construction was the leading end-use segment in the global wood preservation chemicals market. It is projected that construction will be the largest end-use industry during the forecasting horizon. Wood preservation chemicals are used for treating wood in railroad crossties, wood foundations, bridges, walkways, etc.
Region-wise, the global wood preservation chemicals market is classified into North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa (MEA). In 2014, the Asia Pacific segment dominated the global wood preservation chemicals market with around one-third share in terms of volume and continue its dominance till 2023. The Asia Pacific wood preservation chemicals market benefits from the high growth in its end-use industries, particularly in emerging nations such as China and India. North America is another key market for wood preservation chemicals. By volume, the North America wood preservation chemicals market is projected to progress at a CAGR of approximately 3.0% during the forecasting horizon.
Companies in the global wood preservation chemicals market will benefit from the opportunity presented by the rise of green alternatives for chromated copper arsenate (CCA). Some of the key companies in the global wood preservation chemicals market are BASF Wolman, KMG Chemicals, Kop-Coat, Viance, and Rio Tinto Minerals.
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