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Global Wood Preservative Chemicals Market to Reach $2.2 Billion by 2026

Wood preservative chemicals, which are solvents based on organic or petroleum sources, are produced from various types of raw materials including chromium, copper, boron, coal tar and arsenic. By either applying or spraying on the wood, these chemicals aid in improving and maintaining the quality of wood. Growth in the market is driven by growing demand for wood and wood-based products in varied applications and the need to protect wood against degradation and infestation by termites, molds and fungus among others. Increase in residential and commercial construction activity, rapid pace of industrialization and increasing investments in infrastructure development projects by government agencies as well as private organizations push global consumption of wood preservative chemicals. The high share of water-based preservatives is attributed to the chemicals` improved drying and healing characteristics following the treatment process, which ensures that the surface remains dry and ready to be painted. On the other hand, demand for oil borne chemicals such as creosote is being affected by restrictions imposed on its usage in certain regions such Europe and North America.

Amid the COVID-19 crisis, the global market for Wood Preservative Chemicals estimated at US$1.8 Billion in the year 2022, is projected to reach a revised size of US$2.2 Billion by 2026, growing at a CAGR of 4.4% over the analysis period. Water-based, one of the segments analyzed in the report, is projected to record 4.8% CAGR and reach US$1.8 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Other Formulations segment is readjusted to a revised 3.3% CAGR for the next 7-year period. Waterborne wood preservative chemicals capture the maximum share of the market. Water-based preservatives, which find widespread use in commercial and residential applications, are known to provide clean finish, are eco-friendly compared to other formulations, and are easy to handle. The high share of water-based preservatives is attributed to the chemicals` improved drying and healing characteristics following the treatment process, which ensures that the surface remains dry and ready to be painted.

The U.S. Market is Estimated at $500.7 Million in 2022, While China is Forecast to Reach $334.7 Million by 2026

The Wood Preservative Chemicals market in the U.S. is estimated at US$500.7 Million in the year 2022. China, the world`s second largest economy, is forecast to reach a projected market size of US$334.7 Million by the year 2026 trailing a CAGR of 5.9% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.1% and 4.1% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.6% CAGR. The increasing use of wood in residential and commercial sectors in developed economies of North America and Europe will aid demand for wood preservative chemicals. Growth in the Asia-Pacific market is led by increasing construction and industrial activity and the subsequent rise in demand for wood. Favorable economic environment and rising disposable incomes of people are contributing to high sales of wood and wood-based products in the region.