The wood preservative chemicals & coatings active ingredients market was estimated to be worth US$ 229.9 million in 2022. It is anticipated that the industry will be valued at US$ 240.1 million by the end of 2023. The global market for wood preservative chemicals & coatings active ingredients is anticipated to develop at an average pace of 4.90% CAGR during the forecast period, reaching a value of US$ 386.6 million by 2033.
The market for wood preservative chemicals and coatings active ingredients is primarily driven by the growing popularity of green wall as well as vertical garden installations. The growing trend of cities including more green spaces for environmental, aesthetic, and air quality reasons has increased the requirement for wood preservatives to preserve the wooden structures that support these green walls. The need to preserve the aesthetic appeal and structural integrity of the vertical gardens is what drives this specialized demand, which makes a unique contribution to the global market expansion.
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Key Takeaways from the Market Analysis
The wood preservative chemicals & coatings active ingredients market in the United States is projected to expand at a rate of 4.20% CAGR.
The market in the United Kingdom is anticipated to rise at a CAGR of 5.10% between 2023 and 2033.
During the forecast period, Germany is expected to evolve at a CAGR of 6.30%.
From 2023 to 2033, the market in China is projected to rise at a 5.40% CAGR.
The India wood preservative chemicals & coatings active ingredients market is predicted to increase at a 6% CAGR.
In 2023, the organic category is projected to reach a market share of 87.8%.
The global market share of the UC 3 outdoor category is expected to reach 56.8% by 2023.
"The market for wood preservative chemicals and coatings active ingredients is primarily driven by the growing urbanization and construction, rising demand for environmentally friendly building methods, and an increase in outdoor recreation areas and wooden structures," Says an Analyst at Future Market Insights (FMI).
Competitive Landscape
Developing innovative, affordable, and ecological wood preservation solutions is a crucial approach for businesses looking to break into the wood preservative chemicals and coatings active ingredients market. This will help them stand out in an increasingly competitive sector.
Within the wood preservative chemicals and coatings active ingredients sector, startups might investigate niche markets like specialist coatings for historical restoration or unusual uses like maritime wood preservation. Startups can create a presence in markets with less competition and more specialized client needs by targeting untapped niches.
Key Developments
In 2022, the American corporation International Flavors & Fragrances Inc. (IFF) accomplished a successful sale to the specialty chemicals company LANXESS of its microbial control business unit. After the deal was finalized, LANXESS became well-known as one of the largest worldwide suppliers of solutions for microbiological control. Two production facilities in the US have been added to LANXESS's network: Institute, West Virginia, and St. Charles, Louisiana.
Lonza intended to build a new, large fill and finish facility for commercial pharmaceuticals in 2022 so that it could support customers at every point of the product cycle. Lonza invested around CHF 500 million in the plant to satisfy its strategic objective of offering a commercial fill and finish system that completes its whole value chain.
Top Key Players in the Market
LANXESS AG
Janssen Preservation & Material Protection
Lonza Group AG
Akzo Nobel N.V.
PPG Industries, Inc.
BASF Wolman GmbH
Kurt Obermeier GmbH & Co. KG
RUTGERS Organics GmbH
Sarpap & Cecil Industries
Koopers Holdings Inc.
Troy Corporation
Osaka Gas CHEMICALS Co., Ltd
Wacker Chemie AG
Chemsol Inc.
More Valuable Insights Available
Future Market Insights offers an unbiased analysis of the global wood preservative chemicals & coatings active ingredients market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the global wood preservative chemicals & coatings active ingredients market, the market is segmented on the basis of active Ingredient Type (inorganic, organic, others), use class (UC 1/2 - indoor, UC 3 - outdoor, UC 4 - outdoor with ground contact, UC 5 - marine) and region (North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, The Middle East & Africa).