ALBANY, New York, November 16, 2015 /PRNewswire/ --
Transparency Market Research has published a new market report titled "Wood Preservation Chemicals Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023." According to the report, the global wood preservation chemicals market was valued at US$1.59 bn in 2014 and is anticipated to reach US$2.15 bn by 2023, expanding at a CAGR of 3.4% between 2015 and 2023.
Wood preservation chemicals are applied to wood to prevent it from decay, decomposition, and other hazards such as fire. These also enhance the life of wood. Wood preservation chemicals are categorized into four types: water-borne preservatives, oil-borne preservatives, light organic solvent preservatives, and others (including fire retardants). These are used in various end-use industries such as furniture & decking, construction, marine, and others (utility poles, etc.).
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Growth in the global construction industry is estimated to be one of the major factors driving the wood preservation chemicals market. The subsequent recovery of the construction industry in the U.S. is also projected to augment the market in the near future. Wood is extensively used in the construction of wood foundations, bridges, railroad crossties, shelters, walkways, sound barriers etc. These structures need to be protected against decay, decomposition, and fire. Therefore, these structures are treated using various wood preservation chemicals. Expansion in the furniture industry is likely to be another key driver of the wood preservation chemicals market. Demand for premium wood furniture is rising due to increase in disposable income in various countries. Premium wood furniture is treated with various wood preservation chemicals in order to preserve it for an extended period of time. Thus, growth in the global furniture industry is expected to propel the wood preservation chemicals market during the forecast period.
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Water-borne preservatives was the major type of product, accounting for nearly two-third share of the global wood preservation chemicals market in 2014. Water-borne preservatives have been the preferred choice of wood preservation chemicals in various end-user industries. Water-borne preservatives are anticipated to continue their dominance in the wood preservation chemicals market during the forecast period. Construction was the largest end-use industry for wood preservation chemicals in 2014. Wood preservation chemicals are used for treating wood used in wood foundations, bridges, railroad crossties, walkways, etc. Construction is expected to be the largest end-use industry during the forecast period.
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Asia Pacific dominated the global wood preservation chemicals market with nearly one-third share in terms of volume in 2014. This trend is anticipated to continue during the forecast period. Asia Pacific is estimated to be the fastest growing region in the next few years due to high growth in several end-use industries in emerging economies of India and China. Major players operating in the wood preservation chemicals market include Koppers Holdings Inc., LANXESS AG, Lonza Group Ltd. and RÜTGERS Group.
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This report segments the global wood preservation chemicals market as follows:
Wood Preservation Chemicals Market - Product Segment Analysis
- Water-borne preservatives
- Oil-borne preservatives
- Light organic solvent preservatives
Others (Including fire retardants, etc.)
Wood Preservation Chemicals Market - End-user Analysis
- Furniture & decking
Others (Including utility poles, etc.)
Wood Preservation Chemicals Market - Regional Analysis
- Rest of North America
- Rest of Europe
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
Middle East & Africa (MEA)
- GCC countries
- South Africa
- Rest of MEA
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SOURCE Transparency Market Research