The prospects of the wood preservative market are closely linked to the broader developments in the construction and furniture industry. A new report highlighting the key drivers, trends, restrains, and opportunities has been added to the comprehensive repository of Market Research Hub (MRH). The report titled “Wood Preservative Coatings Market:: Global Industry Analysis and Opportunity Assessment, 2017-2027” offers readers insights on the future direction of the market.
The key points covered in the report include market analysis snapshot, pricing analysis, basis point share analysis, y-o-y growth analysis, and absolute $ opportunity in this market.
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The market has been analyzed in different regions, including North America, Asia Pacific excluding Japan (APEJ), Europe, Japan, Latin America, and Japan. The segmentation has been done on the basis of system type into solvent-borne, water-borne. On the basis of coating type, the market has been segmented into preservative (water repellant, fire retardant, insect repellant), stains, varnishes, shellacs, and ‘others’. By end-use, the market has been segmented into furniture, marine, construction, and ‘others’.
According to the report, the global wood preservatives market is likely to grow at a CAGR of over 6% and reach a valuation of US$ 6.43 Bn. Increasing emphasis on high-quality furniture and focus on reducing loss of wood to degradation are fuelling the demand for preservatives among end-use industries. According to the report, spurt in the construction activity, combined with investment in furniture is likely to fuel growth of the market during the assessment period.
North America is likely to remain one of the most lucrative markets for wood preservatives market during the assessment period, with the US and Canada accounting for significant revenue share of the market. The demand for wood preservatives is also likely to increase on account of significant growth of the construction and home décor industry in Asia Pacific excluding Japan.
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Decades of economic growth has led to the creation of a significant middle class in many countries of Asia Pacific, especially in China and India. Demand from this booming middle class segment is likely to create future opportunities for wood preservatives market, which in turn is likely to create further opportunities for market players during the assessment period.
The key companies profiled in the report include BASF SE, The Dow Chemical Company, The Sherwin-Williams Company, Industrias Quimicas Kupsa S.L., Valspar Corporation, Lonza Group Ltd Akzo Nobel N.V., PPG Industries, Inc, RPM International Inc., KMG Chemicals, Inc.
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