MarketsandMarkets expects the global wood preservatives market size to grow from USD 1.3 billion in 2020 to USD 1.7 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 5.1% during the forecast period. The market is witnessing moderate growth, owing to increasing application, infrastructural development, and growing demand for these wood preservatives in the Asia Pacific, North America and Europe. Wood preservatives are largely used in the residential & commercial application. The increasing use of wood preservatives in residential, commercial and the rising construction activities is driving the wood preservatives market.
The driving factors for wood preservatives market is the increasing demand for eco-friendly wood preservatives chemicals and rapid urbanization & increasing disposable income in emerging countries.
Among the different types of wood preservatives, the water-based wood preservatives segment is the largest type during the forecast period in the global wood preservatives market. The demand for water-based wood preservatives is driven by its increased usage in various applications such as residential, commercial and industrial.
The residential & commercial industry will continue to lead the wood preservatives market. This was due to the increasing demand of wood in home interiors and decking.
The growing use of treated wood for interiors of the residential constructions is expected to increase the demand for wood preservatives in the residential applications.
North America accounted for the largest share of the wood preservatives market in 2020. The demand for wood preservatives is increasing in North America due to the increased usage of wood in the residential and industrial sectors.
The rising construction industry supported by heavy investments for infrastructural developments, is providing new opportunities for the wood preservatives manufacturers operating in this region.
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