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Impact of Covid-19 on Wood Preservatives Market

 

Wood Preservatives Market: Introduction

·         Wood preservative products control wood degradation issues that occur due to fungal rot or decay and wood-destroying insects. The treatment process and the use of treated products can result in risks to human health and the environment. Treated wood is commonly used outdoors.

·         Wood preservatives increase the lifespan by resisting attacks from insects, bacteria, and fungus. Wood preservation has gained critical importance in the recent years owing to stringent regulations that limit wood usage. Wooden products are protected by chemicals and several treatment methods that elongate their operational life and lower maintenance cost.

Key Drivers and Restraints of Wood Preservatives Market

·         Increase in demand for modern interior design is boosting the wood preservatives market. Modern interior design is available in various forms such as wall body, wooden mural, wood carving, wood trim, skirting line, baluster, wood floor, and armrest and ceiling.

·         Growth in industrialization and rise in infrastructure needs are the major factors driving the wood preservatives market. Governments and private sectors across the globe are investing in better infrastructure facilities. Construction of residential buildings, health care centers, and educational institutes is boosting the demand for wood, thereby driving the demand for wood preservatives. However, stringent government regulations regarding the usage of synthetic wood preservatives is expected to restrain the market.

Wood Preservatives Market: Formulation Segment

·         Based on formulation, the wood preservative market can be divided into water based, solvent based, and oil based

·         The water based segment held the major share of the wood preservatives market. Water based wood preservatives possess superior properties compared to other formulations, including high performance and long processing periods.

·         Water-based wood preservatives are primarily used in residential and commercial applications. Compared to other formulations, these preservatives provide better environmentally friendly properties. Demand for water-based wood preservatives is rising in emerging economies.

 

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Wood Preservatives Market: Application Segment

·         Based on application, the market can be segmented into commercial, residential, and industrial

·         The residential segment accounted for the major share of the global wood preservatives market in 2020 due to the increase in demand for wood in flooring and wooden furniture

COVID-19 Impact on Global Wood Preservatives Market

·         On January 30, 2020, the International Health Regulations Emergency Committee of the World Health Organization (WHO) declared the Coronavirus disease (COVID-19) outbreak a public health emergency of international concern. Originating in China, the virus has spread to at least 214 countries and territories around the world.

·         Several governments and private sector businesses are operating at a limited capacity or have ceased operations completely due to recent events surrounding the COVID-19 pandemic

·         The COVID-19 pandemic has resulted in a temporary halt in furniture manufacturing activities. However, demand for wooden furniture has been rising, as many students and people are working from home. They require study tables, work tables, and home office setups.

 

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Asia Pacific to Hold Leading Share of Wood Preservatives Market

·         In terms of region, the wood preservatives market can be split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa

·         Asia Pacific is expected to hold major share of the global wood preservatives market, followed by North America and Europe, during the forecast period

·         Asia Pacific is expected to dominate the market for wood preservatives during the forecast period. Growth of the construction sector in countries such as China, India, and Japan is driving the wood preservatives market in the region.

·         The largest producers of wood preservatives are located in Asia Pacific

 

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Key Manufacturers Operating in Global Wood Preservatives Market

The wood preservatives market was consolidated in 2020. Major players have prominent presence in developed and developing countries. Key manufacturers operating in the wood preservatives market include:

·         BASF SE

·         Lonza

·         Troy Corporation

·         LANXESS

·         KMG Corporate

·         RUTGERS

·         Bostik

·         Quality Borate LLC

·         Janssen Global Services, LLC

·         Borax

·         Kurt Obermeier GmbH & Co.KG

·         Dattashri Enterprises

·         Avadata Organics Pvt. Ltd.

·         Jubilant Life Sciences Limited

·         Buckman Laboratories International, Inc.

·         Parikh Enterprises Pvt. Ltd.

·         Advanced Agriresearch Limited

·         Nisus Corporation

·         Koppers Inc

 

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