Wood Preservation Market to Reach $152.9 Billion by 2022

April 16, 2018

WELLESLEY, Mass., April 16, 2018– Emerging market growth, a low interest rate environment, rapid urbanization, rising populations, rapid growth in manufacturing and construction industries are driving the market for wood preservation. At the same time, there is mounting pressure on wood preservation companies to procure wood from sustainable forests and reduce operational costs.

 The global market for wood preservation was worth nearly $104.4 billion in 2017. This number is expected to increase to $152.9 billion in 2022, reaching a compound annual growth rate (CAGR) of 7.9%, according to Wood Preservation: Global Markets to 2022.

Major players that are currently dominating this industry include Stella-Jones Inc., West Fraser Timber Co. Ltd, UPM-Kymmene Corp., Universal Forest Products, Inc., and Metsa Group.

Research Highlights

• The highest market growth is projected to come from pressure treatment, which is forecasted to grow at a CAGR of 5.7%.
• The Asia-Pacific region is the largest geography for wood preservation, accounting for 47.3% of the global market. It was followed by North America and Western Europe.
• Between 2013 and 2017, the global market increased at a CAGR of 5.3%. This growth rate can be attributed to high demand for pressure-treated and dip-treated wood from the residential and commercial building companies buoyed by rising disposable income in countries such as China and India.

“The increased demand for wood products was a key driver for the wood preservation market during this period,” the report notes. “Wood is widely used as construction material in residential and building construction. For instance, in 2017, the demand for wooden furniture in the U.S. increased by 11.2%. In 2016, the value of the EU wooden furniture production was estimated to be $48.8 billion, an increase of 1% over 2015.”

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Wood Preservation: Global Markets to 2022( CHM094A )
Publish Date: Mar 2018    

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