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.
“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 )
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