Wood Preservatives Market Size

Wood Preservatives Market size was valued at USD 1.55 billion in 2023 and is likely to reach USD 2.85 billion by the end of 2036, registering around 4.8% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of wood preservatives is assessed at USD 1.61 billion.

The growth of the wood preservatives market can be attributed to rapid urbanisation, increasing construction and infrastructure activities, and growing demand for timber for interior designing purposes in the coming years. As per our analysis, more than USD 11 trillion were spent on construction activities globally in 2018. This amount is estimated to rise up to USD 17 trillion by the end of 2030. Another aspect expected to contribute to market growth is the rising need to protect wood decay from harmful microbial organisms and marine borers. Preservative treatments enhance effectiveness and operational life of wooden products, along with reducing maintenance costs associated with furniture, which in turn is projected to fuel the demand for wood preservatives in the near future. However, the manufacture of wood preservatives declined during the COVID-19 crisis owing to the suspension of production by several companies. According to a report by the United Nations Industrial Development Organization (UNIDO), industrialized economies registered a decrease in manufacturing output by 2.5% during the first quarter of 2020.